Monday, February 23, 2009

Tuesday Watch

Late Buy/Sell Recommendations

- Reiterated Buy on (JWN), target lowered to $14.

Night Trading
Asian Indices are -3.50% to -1.0% on average.
S&P 500 futures +.28%.
NASDAQ 100 futures +.20%.

Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Pre-market Stock Quote/Chart
Global Commentary
WSJ Intl Markets Performance
Commodity Futures
Top 25 Stories
Top 20 Business Stories
Today in IBD
In Play
Bond Ticker
Economic Preview/Calendar
Earnings Calendar

Conference Calendar

Who’s Speaking?
Rasmussen Business/Economy Polling

Earnings of Note
Company/EPS Estimate
- (TGT)/.83

- (M)/1.00

- (FWLT)/.95

- (HNZ)/.64

- (HD)/.15

- (ODP)/-.06

- (PCG)/.66

- (JOE)/.05

- (RSH)/.73

- (VNO)/1.28

- (PWR)/1.21

- (MHS)/.58

- (MVL)/.71

- (PZZA)/.41

- (FSLR)/1.33

- (CCI)/-.04

- (WYNN)/.43

- (DWA)/.62

- (DPZ)/.16

Economic Releases

8:30 am EST

- Consumer Confidence for February is estimated to fall to 35.0 versus 37.7 in January.

- The House Price Index for December is estimated to fall 1.7% versus a 1.8% decline in November.

Upcoming Splits
- None of note

Other Potential Market Movers
- The
President addresses joint session of Congress, Fed Chairman Bernanke testifies before Senate, Fed’s Fisher speaking, Fed’s Duke speaking, weekly retail sales, Richmond Fed Manufacturing Index, S&P/CS Home Price Index, BMO Capital Global Metals & Mining Conference, Merrill Lynch Insurance Conference, CSFB Global Services Conference, (WLP) investor conference, (CXG) investor meeting, (MSFT) strategic update, (HBI) investor day, (XTO) analyst conference, (CERN) investment community meeting and (JNPR) analyst meeting could also impact trading today.

BOTTOM LINE: Asian indices are lower, weighed down by commodity and financial stocks in the region. I expect US equities to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.

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