Wake Up Call - Jan 3

Good Morning. This is your wake up call for Wednesday January 3, 2007. The time is 8:00 AM EST on this first day of trading for 2007.

OVERSEAS MARKETS

Asia:
Hang Seng Index+0.51%; Shanghai/Shenzhen 300 +3.09%; Singapore All +2.19%; SET -3.03%

U.K. & Europe:
DJ STOXX 50 Index +0.06%; FTSE 100 -0.05%; CAC 40 -0.14%; DAX -0.09%

KEY HEADLINE NEWS

• Crude oil diving and testing $60 on mild weather forecast; adds lift to U.S. equity futures
• Homebuilder Lennar posts gloomy view on housing
• Bush seeks Congressional support as Democrats take lead; highlights tax cuts
• Thai market dips following New Year's bombing

U.S. Equity futures are set to soar to start the day today, gaining lift from falling oil prices and a terrorism-free four-day New Year's holiday weekend. The New Year's period has proven a time that terrorists are fixated on for causing disruption. However, outside of the Thai blast, all was relatively calm in Europe and the U.S., thus bringing some relief rally to the market today. Also, with oil prices dipping this morning on mild North American weather, inflationary pressure and consumer constraints are eased, adding further lift to the market, in our view. Check back in this morning for "Today's Morning Coffee," where we go into more depth on the day's market-moving event schedule. (disclosure)