Tuesday, November 01, 2005

Wednesday Watch

Late-Night Headlines
Bloomberg:
- Steel companies may lose their luster amid increasing production from China.
- Australian Prime Minister John Howard said the government has received information on a credible terrorism threat and will recall legislators to give police extra powers to deal with the threat.
- Toyota Motor and Honda Motor helped Asian auto brands win a record share of the US market in October as sales plunged for GM and Ford.

Financial Times:
- Delphi Corp. may ask GM to finance a one-off payment to workers facing wage and benefit cuts in return for lower parts prices.

Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on NFP and MSFT.
- Reiterated Underperform on SMP, SGP, SIRI and HCC.

Night Trading
Asian Indices are -.25% to +1.0% on average.
S&P 500 indicated -.05%.
NASDAQ 100 indicated -.13%.

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/-.06
ATK/1.01
BZH/3.11
BMC/.23
CECO/.51
DF/.50
DVN/1.80
DUK/.48
PCLN/.37
QCOM/.33
SPW/.68
TK/.40
TWX/.17
UVN/.22

Upcoming Splits
- None of note

Economic Releases
10:30 am EST
- Platt's estimates that weekly crude inventories rose 2.75 million barrels, gasoline inventories rose 1.4 million barrels and distillate supplies fell 1 million barrels. Refinery utilization is expected to rise 2.5%.

BOTTOM LINE: Asian indices are mostly higher on earnings optimism in the region. I expect US equities to open modestly lower and to rise later in the day. The Portfolio is 100% net long heading into the day.

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