Bloomberg:
- The US economy will dodge recession, said Harvard Professor Martin Feldstein, who heads the panel of economists which dates US business cycles.
- Germans are beginning to awaken to a new reality: Their country is no longer one of the apparently safe havens in the post-Sept. 11 world. Under then-Chancellor Schroeder, Germany refused to join the US-led liberation of Iraq in 2003 and had been spared the sort of fear engendered by attacks carried out by Islamic terrorists in London, Madrid, Istanbul and Mumbai. Now the public is confronted with stepped-up security checks at train stations and travel delays as suspicious suitcases are cleared away, with the promis of more measures to come.
- Japan’s consumer prices rose less than expected in July, damping speculation the central bank will raise rates for a second time this year.
Wall Street Journal:
- Toyota Motor(TM), which last year recalled more vehicles in the US than it sold, may curb growth plans to address quality issues.
Financial Times:
- Alcatel’s(ALA) planned $10.4 billion acquisition of Lucent Technologies(LU) has the support of Institutional Shareholder Services, the US shareholder advisory firm.
AFP:
- Four Muslims between the ages of 16 and 20 have been charged in Denmark in connection with a plot to carry out terrorist attacks in Europe.
Late Buy/Sell Recommendations
Business Week:
- SuperGen Inc.(SUPG), which makes treatments for tumors and blood disorders, may increase as much as sevenfold within a year on sales of the bone marrow drug Dacogen.
- Brink’s(BCO) largest shareholder, Pirate Capital, demanded Aug. 9 that the company be put up for sale, saying the stock is worth as much as $80 a share.
Night Trading
Asian Indices are +.25% to +1.0% on average.
S&P 500 indicated +.20%.
NASDAQ 100 indicated +.22%.
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
- None of note
Upcoming Splits
- (CAJ) 3-for-2
Economic Releases
- None of note
BOTTOM LINE: Asian indices are higher, boosted by technology stocks in the region. I expect US equities to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
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