Bloomberg:
- JP Morgan Chase is joining dollar bulls Morgan Stanley and Barclays Plc in predicting a third consecutive quarterly gain in the currency.
- Cnooc Ltd. may abandon its effort to buy Unocal Corp. and instead seek other US oil producers, such as Marathon Oil Corp., Amerada Hess or Murphy Oil, investors and analysts said.
- Crude oil prices are falling tonight in NY for a second day after a US Energy Department report yesterday showed stockpiles declined less than analysts forecast and supplies of heating oil and other distillate fuels rose.
- Liberal groups and their Democratic Senate allies, facing an uphill task to stop the confirmation of John G. Roberts to the US Supreme Court, plan to press hard for information about his views on legal issues as they try to muster opposition to the nomination.
NY Times:
- Sprint and Cingular Wireless were accused in complaints filed with California state regulators of improperly charging cell-phone users.
Financial Times:
- Iran has agreed to extend a $1 billion credit facility to Iraq.
AP:
- Canada today made gay marriages legal, becoming the world's fourth nation to give same-sex couples full legal rights and benefits.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on EBAY, PFE, AMLN, IDIX, DOX, COF, FORM and CVD.
- Reiterated Underperform on NFB, OMI, UIS, VRTX and KEA.
Night Trading
Asian Indices are unch. to +.25% on average.
S&P 500 indicated +.02%.
NASDAQ 100 indicated +.19%.
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
ABC/.86
AVID/.42
BAX/.44
BRCM/.25
CAT/1.00
DHI/1.09
EMC/.12
LLY/.66
GOOG/1.21
GDT/.65
IR/1.62
MCD/.42
MRK/.62
MSFT/.31
NXTL/.44
NUE/1.96
ODP/.24
PMCS/.03
RBK/.58
SGP/.05
SFA/.41
SIRI/-.15
UPS/.85
XLNX/.21
Upcoming Splits
None of note
Economic Releases
8:30 am EST
- Initial Jobless Claims for last week are estimated to fall to 325K versus 336K the prior week.
- Continuing Claims are estimated to fall to 2589K versus 2617K prior.
10:00 am EST
- Leading Indicators for June are estimated to rise .5% versus a .5% decline in May.
12:00 am EST
- Philadelphia Fed. for July is estimated to rise to 10.0 versus -2.2 in June.
2:00 pm EST
- Minutes of June 30 FOMC Meeting
BOTTOM LINE: Asian indices are mostly higher, led by automaker and technology stocks in the region. I expect US equities to open modestly higher, spurred by tech shares. The Portfolio is 100% net long heading into the day.
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