Bloomberg:
- Saddam Hussein will stand trial today before the Special Tribunal in Baghdad for murdering fellow Iraqis, in one of the most high profile war crimes cases in world history.
- Crude oil is falling for a second day on forecasts Hurricane Wilma will miss rigs in the US Gulf and before a report that will probably show supplies rose.
Wall Street Journal:
- Wal-Mart Stores plans to start selling foods packaged in corn-based plastics instead of containers made from petroleum.
- The EPA began a criminal probe of Nabors Industries Ltd. after reports it dumped contaminated mud off the Alaska coast while operating a Pioneer Natural Resources oil-drilling rig.
Economic Daily News:
- Taiwan Semiconductor Manufacturing will produce advanced-technology chips for Qualcomm.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on YHOO, STN, CAKE, USB and FCX.
- Reiterated Underperform on TWMC and UIS.
Night Trading
Asian Indices are -2.0% to -1.0% on average.
S&P 500 indicated -.15%.
NASDAQ 100 indicated -.29%.
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
ABT/.58
MO/1.33
AMGN/.82
BAC/1.02
CMA/1.19
EK/.66
EBAY/.20
ERTS/.04
EMC/.12
GD/1.76
ITW/1.36
JPM/.72
JNPR/.18
KMI/.99
LIN/.01
KRB/.53
ODP/.35
QLGC/.32
WM/.90
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- Housing Starts for September are estimated to fall to 1970K versus 2009K in August.
- Building Permits for September are estimated to fall to 2075K versus 2138K in August.
10:30 am EST
- Platt's estimates weekly crude inventories rose 2.5 million barrels, gasoline inventories fell 1.1 million barrels, distillate inventories declined 2.1 million barrels and refinery utilization increased 5.0%.
2:00 pm EST
- Fed’s Beige Book
BOTTOM LINE: Asian indices are lower, spurred by losses in exporting companies in the region. I expect US equities to open lower on increasing worries over slowing economic growth. The Portfolio is 50% net long heading into the day.
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