Bloomberg:
- The US Defense Department ordered 10,000 more National Guard troops to states hit by Hurricane Katrina.
- New Orleans water levels have stabilized as nearby Lake Pontchartrain stopped rising, though the city’s flood waters will take as long as a month to return to the lake.
- Buses from Houston will arrive at New Orleans’ Superdome to pick up refugees from the flooded city and take them to the Houston Astrodome, citing Texas Governor Rick Perry.
Financial Times:
- The “petrol crisis” in the US caused by the effects of Hurricane Katrina will be felt globally.
AFP:
- At least 20 oil rigs and platforms are missing and a ruptured pipeline is on fire in the Gulf of Mexico because of Hurricane Katrina.
Late Buy/Sell Recommendations
Goldman Sachs:
- None of note
Night Trading
Asian Indices are +.75% to +1.25% on average.
S&P 500 indicated +.02%.
NASDAQ 100 indicated +.06%.
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
DLM/.05
HRB/-.07
JDSU/-.02
COCO/.13
MRX/.41
SKS/-.20
Upcoming Splits
BJS 2-for-1
EQT 2-for-1
IR 2-for-1
PHM 2-for-1
THQI 3-for-2
WIT 2-for-1
Economic Releases
8:30 am EST
- Personal Income for July is estimated to rise .5% versus a .5% increase in June.
- Personal Spending for July is estimated to increase 1.0% versus a .8% gain in June.
- The PCE Core(MoM) for July is estimated to rise .1% versus a 0.0% change in June.
- Initial Jobless Claims for last week are estimated at 315K versus 315K the prior week.
- Continuing Claims are estimated to fall to 2575K versus 2578K prior.
10:00 pm EST
- Construction Spending for July is estimated to rise .5% versus a .3% decline in June.
- Pending Home Sales for July are estimated to remain unchanged versus a .6% increase in June.
- ISM Manufacturing for August is estimated to rise to 57.0 versus a reading of 56.6 in July.
- ISM Prices Paid for August is estimated to rise to 52.0 versus a reading of 48.5 in July.
Afternoon
- Total Vehicle Sales for August are estimated to fall to 17.2M versus 20.9M in July.
- Domestic Vehicle Sales for August are estimated to fall to 14.1M versus 17.2M in July.
BOTTOM LINE: Asian indices are higher as falling energy prices boosted exporters in the region. I expect US equities to open higher on gains in Asia. The Portfolio is 50% net long heading into the day.
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