Bloomberg:
- If insider selling is any guide, the stock-market rally for energy companies may be waning.
- The euro declined against the dollar and yen on bets European Central Bank President Jean-Claude Trichet won’t trigger speculation of a faster pace of increases after an expected interest-rate rise today.
- Morgan Stanley(MS) CEO Mack told the SEC that he had no advance knowledge of an acquisition in 2001 that’s now under scrutiny for possible insider trading, a persona familiar with his testimony said.
- Shares of Sina Corp.(SINA), owner of China’s biggest Internet portal, surged after the company forecast third-quarter sales that beat analyst estimates, allaying fears new mobile service rules would lower revenue.
Wall Street Journal:
- Labor unions at the major US and Japanese automakers last week agreed to start studying common issues.
Reuters:
- Aluminum Corp. of China Ltd.(ACH), the world’s second-biggest producer of alumina, has cut the price of alumina for some smelters by 20% from Aug. 1, citing officials.
Late Buy/Sell Recommendations
- None of note
Night Trading
Asian Indices are unch. to +.50% on average.
S&P 500 indicated -.12%.
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/EPS Estimate
- (ATVI)/-.10
- (ATK)/1.06
- (ALTR)/.22
- (AOC)/.60
- (CAH)/.87
- (CECO)/.49
- (CBS/A)/.50
- (CEPH)/1.01
- (CCI)/-.07
- (CVS)/.37
- (D)/.79
- (DUK)/.38
- (IRF)/.46
- (ITG)/.55
- (IVGN)/.85
- (KMG)/1.11
- (FLSH)/.22
- (CLI)/.30
- (MMC)/.43
- (MGM)/.53
- (NBL)/1.16
- (OMX)/.14
- (PTEN)/.95
- (PMI)/1.12
- (PPL)/.48
- (QSII)/.24
- (TSG)/.41
- (SRE)/.63
- (SKYW)/.60
- (S)/.33
- (SFY)/1.13
- (RIG)/.44
- (TYC)/.48
- (UVN)/.31
- (WMB)/.22
Upcoming Splits
- (FUL) 2-for-1
Economic Releases
8:30 am EST
- Initial Jobless Claims are estimated to rise to 308K versus 298K the prior week.
- Continuing Claims are estimated to fall to 2460K versus 2575K prior.
10:00 am EST
- Factory Orders for June are estimated to rise 1.8% versus a .7% gain in May.
- ISM Non-Manufacturing for July is estimated to fall to 56.8 versus a reading of 57.0 in June.
BOTTOM LINE: Asian indices are mostly higher, boosted by consumer and commodity stocks in the region. I expect US equities to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.
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