Friday, December 31, 2004

Friday Watch

Earnings of Note
None of note

None of note.

Economic Data
None of note

Goldman Sachs reiterated Outperform on BSX and Underperform on PPS, TCO.

Late-Night News
Asian indices are mostly higher on optimism for exporters in the region. Saudi forces killed the suspected leader of the al-Qaeda terrorist network in Saudi Arabia, along with nine other members of the group, in separate gun battles, Agence-France Presse reported. A free trade agreement with China would boost Japan’s GDP by .5%, the Nihon Keizai newspaper reported. Oracle fired PeopleSoft’s Co-President and CFO and three other top executives, putting Oracle officials in their places as part of the $10.3 billion takeover, Bloomberg reported. Huawei Technologies, China’s largest phone-equipment maker, said it received a $10 billion credit line from China Development Bank to finance overseas expansion, Bloomberg said.

Late-Night Trading
Asian Indices are unch. to +.50% on average.
S&P 500 indicated +.07%.
NASDAQ 100 indicated +.18%.

BOTTOM LINE: I expect U.S. equities to open modestly higher in the morning on short-covering and window-dressing. The Portfolio is at its highs for the year and 125% net long heading into tomorrow.

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