Monday, June 27, 2005

Tuesday Watch

Late-Night Headlines
Bloomberg:
- John Walton, son of Wal-Mart Stores founder Sam Walton, died in a plane crash near Jackson Hole Airport in Wyoming today.
- CNOOC Ltd., China's third-biggest oil company, will borrow $7 billion from its state-owned parents at below-market interest rates to help finance an $18.5 billion bid for Unocal Corp.

Xinhua News:
- Flooding in southern China caused by heavy rainfall has killed 607 people and caused $3.3 billion in damage this year. Some 164 people remain missing.

Beijing Times:
- Citigroup inc. scrapped talks with China Construction Bank to take a strategic stake in the Chinese lender.

Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on BAC and ENH.
- Reiterated Underperform on HBAN, FHN and NFS.
- Downgraded STX to Underperform.

Night Trading
Asian Indices are -.25% to +.50% on average.
S&P 500 indicated +.13%.
NASDAQ 100 indicated +.10%.

Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Before the Bell CNBC Video(bottom right)
Global Commentary
Asian Indices
European Indices
Top 20 Business Stories
In Play
Bond Ticker
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule

Earnings of Note
Company/EPS Estimate
APOL/.74
BE/.00
DRL/.40
EMMS/.15

Upcoming Splits
None of note

Economic Releases
10:00 am:
- Consumer Confidence for June is estimated to rise to 104.0 versus 102.2 in May.

BOTTOM LINE: Asian indices are mostly higher as oil prices pulled back from early session highs. Consumer Confidence will likely come in modestly below expectations. I expect US equities to open mixed and move modestly higher in the afternoon. The Portfolio is 75% net long heading into the day.

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