Sunday, April 09, 2006

Monday Watch

Weekend Headlines
Bloomberg:
- The US economy has plenty of room to add jobs without stretching the workforce and fueling inflation, St. Louis Fed Bank President Poole said.
- The US may use “bunker-buster” tactical nuclear bombs to put an end to Iran’s nuclear weapons program, citing the New Yorker magazine.
- British Foreign Secretary Jack Straw said he is “certain” that neither the US nor Britain would preemptively attack Iran.
- The US dollar rose for a third straight week against the yen and gained versus the euro as a strengthening US job market added to speculation the Fed will raise rates twice more this year.
- President Bush said Democratic Senate Minority Leader Harry Reid is responsible for the collapse of an immigration overhaul compromise this week, and asked him to “end his blocking tactics” and allow the bill to move forward.
- Comcast Corp.(CMCSA), Time Warner(TWX) and two other US cable-tv providers will begin selling mobile-phone services in the second half, heating up competition with phone companies including Verizon Communications(VZ).
- China’s yuan may fall 2.3% by the year-end because economic growth will slow, said chief economist Jim Walker at CLSA Ltd., the Asian investment banking arm of France’s biggest lender by assets, Credit Agricole SA.

Wall Street Journal:
- Dunkin’ Brands Inc., which franchises Dunkin’ Donuts outlets, is attempting to attract customers from Starbucks Corp.(SBUX) without alienating lower-income, working-class clients.

Investment Dealers' Digest:
- Ethanol companies are lining up for IPOs.

Financial Times:
- Venture capital trusts raised a record $1.27 billion from investors in the financial year ended April 5.
- A larger than forecast increase in Internet advertising and the forthcoming World Cup finals in Germany have helped boost global spending on advertising.
- International Business Machines(IBM) will reveal technology that improves security for handheld devices including mobile phones, citing the head of security and privacy at IBM Research.

Canadian Broadcasting Corp.:
- It’s impossible for Canada to meet anti-pollution targets set by the Kyoto accord and the nation must set more realistic goals to cut the emission of greenhouse gases, citing Environment Minister Rona Ambrose.

El Mundo:
- Novartis AG Chairman Daniel Vaseslla said the company invests in research centers in the US and Asia because Europe lacks business drive.

Weekend Recommendations
Barron's:
- Had positive comments on (JBX), (HET) and (GS).
- Had negative comments on (DRI).

Night Trading
Asian indices are -.50% to unch. on average.
S&P 500 indicated -.05%.
NASDAQ 100 indicated -.07%.

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
- (AA)/.51
- (GY)/-.15
- (JBHT)/.31
- (MU)/.06
- (SCHN)/.71
- (SGR)/.37

Upcoming Splits
- (ATW) 2-for-1
- (SLB) 2-for-1
- (CTRP) 2-for-1
- (MTW) 2-for-1

Economic Releases
- None of note

BOTTOM LINE: Asian Indices are mostly lower, weighed down by technology shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. My trading indicators are giving mostly bullish signals. The Portfolio is 75% net long heading into the week.

No comments: