Bloomberg:
- Australia won’t withdraw its troops from Iraq prematurely, Australian Foreign Minister Alexander Downer said in response to a new terrorism threat against Australia in a videotape found in Indonesia.
- China may default on money-losing copper trades because the country doesn’t have enough of the metal to make good on delivery commitments next month, said Mark Topfer, the former No. 2 lawyer at the London Metal Exchange.
- Public approval of Congressional Democrats has fallen to 25% and Republicans to 27% in the most recent Harris Interactive poll.
- Shares of Toyota Motor, the world’s largest automaker by market value, surged to their highest level since being listed in 1949, making the company 14 times bigger than General Motors.
Business Week:
- Interpublic Group, the world’s third largest advertising company, may have to sell assets as part of a plan to reorganize the company.
AFP:
- The UN General Assembly adopted a resolution expressing concern over North Korea’s human rights record.
Daily Deal:
- Kohlberg Kravis Roberts is leading a group of private investors that may bid for General Motor’s residential mortgage finance unit.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on GILD.
- Reiterated Underperform on PSS and MESA.
Business Week:
- Shares of Laserscope(LSCP), the maker of lasers used to treat enlarged prostates, may rise because some investors sold too many shares.
- SBA Communications(SBAC) shares are worth as much as $27, citing William Harnisch, CEO of hedge fund Peconic Partners.
Night Trading
Asian Indices are +.75% to +1.25% on average.
S&P 500 indicated -.02%.
NASDAQ 100 indicated -.12%.
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
ANN/.37
DDS/-.22
URI/.27
Upcoming Splits
TRID 2-for-1
Economic Releases
- None of note
BOTTOM LINE: Asian indices are higher, boosted by exporters in the region after oil fell below $56/bbl. I expect US equities to open mixed and to trade modestly higher later in the day. The Portfolio is 100% net long heading into the day.
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