Sunday, November 27, 2005

Monday Watch

Weekend Headlines
Bloomberg:
- U.S. retail sales jumped 22 percent to $27.8 billion during the post-Thanksgiving weekend, as shoppers flocked to stores to buy electronics, clothing and books, the National Retail Federation said.
- Retail spending on Visa credit and debit cards rose 12% on Black Friday, the first day of the holiday shopping season, led by purchases of electronic and computers. Purchases of personal entertainment devices, including Microsoft’s Xbox and Apple’s iPod, as well as computers, accounted for 19% of all retail sales volume.
- Iraqis living abroad will be permitted to take part in the country’s December elections for a new National Assembly, with voting set up in 15 other countries.
- Wal-Mart Stores said November sales at its US stores rose about 4.3%.
- Crude oil is falling in NY after forecasters predicted above-average temperatures in the US Northeast this week, leading to lower demand for fuel.

Barron’s:
- The number of US family foundations has climbed more than 60% during the past six years to about 33,000.

NY Times:
- Roche Holding AG expects to make an announcement on licenses for Tamiflu in coming weeks.
- Web logs are becoming more mainstream and less rebellious as blog advertising rises.
- The switch by large retailers to wireless cash registers from dial-up connections is inevitable.
- The US military is working to help soldiers in Iraq and Afghanistan cope with stress and grief in an effort to ward off post-traumatic stress.
- New York has approved emissions standards for cars and light trucks, based on California regulations, that the state says will add more than $1,000 in costs to each vehicle when adopted.
- Public and corporate pension plans have been investing billions of dollars in hedge funds in an effort to generate higher returns to meet demand from an increasing number of retirees.
- Canadian Prime Minister Martin’s Liberal Party government may fall in a no-confidence vote tomorrow, undercutting an international conference on greenhouse gases in Montreal.
- Verizon Communications and AT&T face large capital expenditures and higher charges for content than cable providers in the telephone companies’ bid to enter the television business.

Washington Post:
- Candidates who aspire to succeed United Nations Secretary General Kofi Annan when his term ends next year have begun seeking backing from the US and other Security Council members.

San Francisco Chronicle:
- Advanced Micro Devices has gained 5 percentage points of share to account for 10% of the market for server microprocessors in the third quarter, citing Gartner Inc.

Crain’s Chicago Business:
- Crane leases in Chicago have soared as much as 25% in the past year as construction of high-rise hotels and office towers boosted demand.

Financial Times:
- Revenue at the biggest investment banks surged after being boosted by their brokerage of hedge funds, citing research by Morgan Stanley.

Sunday Times:
- Rolls Royce Group Plc may open a factory in the US to produce its Trent 1000 aero engines.

AME Info.:
- Saudi Arabia’s Oil Minister, Ali al-Naimi, ruled out a cut in OPEC’s oil production quota when it meets in Kuwait next month.

Le Parisien:
- French President Chirac has little influence on what’s happening in France, Europe and the rest of the world, according to a majority of French people polled by research company CSA.

Weekend Recommendations
Barron's:
- Had positive comments on MEL, PCZ and KEYN.
- Had negative comments on BOT.

Goldman Sachs:
- None of note

Night Trading
Asian indices are +.25% to +1.0% on average.
S&P 500 indicated -.02%.
NASDAQ 100 indicated -.03%.

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/Estimate
- None of note

Upcoming Splits
BRO 2-for-1

Economic Releases
10:00 am EST
- Existing Home Sales for October are estimated to fall to 7.2 million versus 7.28 million in September.

BOTTOM LINE: Asian Indices are higher on falling energy prices and optimism for exporters in the region. I expect US stocks to open modestly higher. The Portfolio is 100% net long heading into the week.

No comments: