Wake Up Call - Jan 26
Good Morning. The time is 9:00 a.m. and major U.S. equity markets are indicating a broadly higher open. The Dow looks set to rise the most, thanks to strength from Caterpillar after its earnings report, which was not as bad as whispered.
Asia:
Hang Seng Index -1.88%; Shanghai/Shenzhen 300 +2.45%; NIKKEI 225 -0.21%; BSE SENSEX 30 0.00%; KRX 100 -0.88%; Ho Chi Minh -1.43%
U.K. & Europe:
DJ STOXX 50 Index -0.39%; FTSE 100 -0.15%; CAC 40 -0.14%; DAX -0.12%; Russian RTS Index -0.86%
KEY HEADLINE NEWS
- GM announced today that it will delay its earnings report and restate earnings back to 2002. Now take a breath... Everything is okay, as GM understated its results and there was no impact to cash flows. Also, the company released news that it would report a profit for the fourth quarter. We expect the stock to rise or hold steady today, and GM shares are relatively unchanged in pre-market activity.
- Toyota posted its vehicle production data for 2006 today. The company generated global production growth of 10%, and the gap between it and GM was just 162,000 vehicles.
- Another WSG prediction is playing out, as hog farmers brace for further increases in feed prices. Food inflation is on its way to your dinner table, and the American consumer's savings from lower gasoline prices will be eaten for lunch.
- WSG predicted the oil price bottom last week (see for yourself) as it tested $50, and we're telling you now that today's extreme cold in the Northeastern U.S. should add further lift to oil and natural gas prices.
- December new home sales are set to be reported at 10:00 a.m. EST today.
We urge you to read our section within the sidebar, entitled "Headline News", for further important information for traders and investors.
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Check back in later this morning, as "Today's Morning Coffee" will outline in greater detail the day's activity in overseas and commodity markets, and provide economic data & analysis and stock specific news. (disclosure)
posted by The Greek | 8:12 AM
2 Comments:
How can you make a statement saying you, as a Republican would vote for Al Gore because of his political ad/documentary. His allegations are so preosterous that the majority on the Senate Panel on Environment issued a statement rebutting it in 2006. Before you go out on the limb again and discredit yourself read one book: Unstoppable Global Warming by Singer/Avery. You will no longer fall for all the current doomsday hype and hysteria, where the only solution is control of production and consumption thru more restrictions by governments and international institutions.Wake up.
First of all, before you make a statement that calls into question the validity of something that has already been agreed upon by most within the scientific world, learn how to spell, as failing to do so severely undermines your credibility.
Second of all, don't base your argument on propaganda. I understand the banality of using Al Gore as a poster child in the efforts to draw attention to global warming, but to voice your disapproval on the basis of misleading printed material smacks of absurdity and truly is PREPOSTEROUS.
If one were truly committed to engaging in a productive and mature discourse on climate change, hackneyed "research" and oversimplified explanations of scientific phenomena must be called into question from BOTH sides of the argument. Only then will the issue be appropriately dealth with, irrespective of partisan loyalties and political/personal agendas.
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