Wednesday, November 16, 2005

Thursday Watch

Late-Night Headlines
Bloomberg:
- China will sell $80 million of copper from inventories next week amid speculation the government is seeking to drive down prices and limit losses from an investment by one of its traders.
- US House leaders, seeking support for a budget-cutting plan, dropped from a transportation measure the designation of $442 million for Alaska projects, including one dubbed a “bridge to nowhere.”
- Taiwan is a “sovereign country” and is concerned China will use “military hegemony” to reunify the two, Taiwan’s representative said at a summit of Asia-Pacific leaders in South Korea.

Financial Times:
- China stopped plans to let foreign news publications print inn the mainland on concerns news about the “color revolutions” in the West may undermine political order.


AP:
- The LA Times plans to cut about 85 newsroom jobs, or 8% of its editorial staff, before the end of the year.

Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Underperform on AMAT, APU and HCCC.

Night Trading
Asian Indices are -.25% to +.75% on average.
S&P 500 indicated -.04%.
NASDAQ 100 indicated -.09%.

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
ARO/.46
ADSK/.30
BKS/-.02
BEAS/.10
PLCE/.91
CLE/.35
FL/.42
GPS/.24
HRB/-.16
HPQ/.46
HUG/.67
LTD/-.03
MRVL/.33
JWN/.35
TSA/.09
SBUX/.15
DIS/.18
WSM/.30

Upcoming Splits
SWN 2-for-1

Economic Releases
8:30 am EST
- Housing Starts for October are estimated to fall to 2070K versus 2108K in September.
- Building Permits for October are estimated to fall to 2160K versus 2219K in September.
- Initial Jobless Claims for last week are estimated to fall to 324K versus 326K the prior week.
- Continuing Claims are estimated to fall to 2790K versus 2818K prior.

9:15 am EST
- Industrial Production for October is estimated to rise 1.0% versus a 1.5% decline in September.
- Capacity Utilization for October is estimated to rise to 79.6% versus 79.0% in September.

12:00 pm EST
- Philly Fed for November is estimated to fall to 15.3 versus a reading of 17.3 in October.

BOTTOM LINE: Asian indices are mostly higher, boosted by exporters in the region. I expect US equities to open mixed and to trade modestly higher later in the day. The Portfolio is 75% net long heading into the day.

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