Monday, July 17, 2006

Tuesday Watch

Late-Night Headlines
Bloomberg:
- Target Corp.(TGT) cut is forecast for July same-store sales to growth of 3 to 4 percent from prior estimates of 4-6% growth.
- China’s economy grew at the fastest pace in more than a decade in the second quarter as higher borrowing costs and government lending curbs failed to slow investment in factories and real estate.
- Dell Inc.(DELL) is selling its first color-laser printers in Japan at lower prices than competing products from Canon Inc. and Seiko Epson Corp. to expand market share.
- The yuan fell for a third day as China said there won’t be another “one-off” revaluation of the currency and that speculators betting on faster gains will “not succeed.”

Late Buy/Sell Recommendations
- None of note

Night Trading
Asian Indices are -1.50% to unch. on average.
S&P 500 indicated -.06%.
NASDAQ 100 indicated -.35%.

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
- (ASO)/.53
- (BLK)/1.16
- (SCHW)/.20
- (CHKP)/.32
- (KO)/.72
- (CSX)/1.15
- (FRX)/.52
- (FCX)/1.45
- (IBM)/1.29
- (JNJ)/.97
- (KEY)/.70
- (MER)/1.52
- (MTG)/1.73
- (RJF)/.45
- (PCU)/3.20
- (STT)/.83
- (AMTD)/.22
- (TER)/.25
- (UTX)/1.0
- (USB)/.64
- (WDC)/1.24
- (YHOO)/.11

Upcoming Splits
- (RS) 2-for-1

Economic Releases
8:30 am EST
- The Producer Price Index for June is estimated to rise .3% versus a .2% gain in May.
- The PPI Ex Food & Energy for June is estimated to rise .2% versus a .3% increase in May.

9:00 am EST
- Net Foreign Security Purchases for May are estimated to rise to $56.0B versus $46.7B.

1:00 pm EST
- The NAHB Housing Market Index for July is estimated to fall to 41 versus a reading of 42 in June.

BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity and technology stocks in the region. I expect US equities to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.

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