Wake Up Call - Jan 8

Good Morning. This is your wake up call for Monday January 8, 2007. The time is 8:20 AM EST, and major U.S. equity index futures are indicating a mixed open. The S&P 500 appears set to open mildly higher, while the NASDAQ composite is indicating a mildly lower open to the day. Last week's mayhem is being met by internationally based turmoil this morning. As you will see within our Key Headlines section below, oil is likely to recover some ground today on concerning news regarding Iran and Israel, and renewed Russian energy warfare tactics impacting Chechnya, Belarus, Poland, Georgia and Ukraine. However, new product introductions at the International Consumer Electronics show kicking off in Las Vegas possess the potential to turn the tide positive today for American markets.

OVERSEAS MARKETS

Asia:

Hang Seng Index -0.9%; Shanghai/Shenzhen 300 +2.83%; Taiwan TAIEX -1.26%; BSE SENSEX 30 -1.5%

U.K. & Europe:

DJ STOXX 50 Index +0.12%; FTSE 100 +0.11%; CAC 40 +0.37%; DAX +0.2%; WSE WIG -0.68%; SOFIX +3.59%

KEY HEADLINE NEWS

• The Sunday Times reported that Israel is working up a plan to use tactical nuclear weapons on as many as three key Iranian nuclear facilities.
• Israel denies the plan, which would mark the first use of nuclear weapons since 1945, a move that would likely incite significant upheaval within the Islamic world due to concern for fallout and human collateral damage.
• Iran maintains its tough rhetoric in its rebuttal.
• Energy commodities find support in renewed concerns regarding Iran, and after the Russian/Belarusian energy row, leaves Belarus to cut Russian oil distribution to Ukraine and Poland. The Polish WSE WIG Index slips.
• China perturbed over Taiwanese President's planned stopover in San Francisco en route to Nicaragua. Taiwan's market was weak today, likely partly as result.
• Event risk is being remeasured after the consequences of the four-year bull market combined with rising geopolitical tensions may position global markets for correction.

This week's issue of "The Greek's Week Ahead," which will follow "Wake Up Call" today, provides our in-depth discussion on the global market outlook.(disclosure)