At 8:20 AM EDT:
S&P 500: +1.00; 1,297.00
NASDAQ: +1.00; 1,558.25
DOW: +8.00; 11,309
NIKKEI 225: -0.14%; 15,938.66 (-21.96)
HANG SENG: +0.43%; 16,955.45 (+72.41)
S&P/ASX 200: +0.72%; 5,023.60 (+35.80)
BSE SENSEX 30: +0.35%; 11,572.20 (+40.25)
FTSE 100: +0.03%; 5,870.70 (+1.60)
CAC 40: -0.11%; 5,107.15 (-5.70)
XETRA-DAX: -0.06%; 5,810.70 (-3.34)
Commodity Futures (Reuters/Jefferies CRB)
Oil: +1.41%; $73.38 (+$1.02)
Gold: +0.40%; $631.40 (+$2.50)
Natural Gas: +6.3%; $7.52 (+$0.45)
Silver: +0.57%; $12.39 (+$0.07)
Asian Headlines (via Bloomberg.com)
Japan's Consumer Prices Rise Less Than Economist Estimates; Bonds Advance Japan's consumer prices rose less than expected in July, damping speculation the central bank will raise interest rates for a second time this year. Government bonds surged the most in almost three years and the yen fell.
Australia's Government Slashes Public Sale of Telstra Stake to $6 Billion Australia's government slashed a sale of stock in Telstra Corp. (TLS), the nation's largest telephone company, by more than half to A$8 billion ($6 billion) after a slump in earnings sent its shares to a record low.
Asian Stocks: Japan Drops, Led by Softbank; Samsung Electronics Advances Japanese stocks dropped, leading declines by Asian equities. Softbank Corp. (OTCPK:SFTBF) fell after Lehman Brothers Holdings Inc. cut its price estimate on the shares in the Japanese version of a report previously published in English.
Lichtenstein, Billionaire Icahn End Alliance as Investors in Korea's KT&G U.S. billionaire investor Carl Icahn ended his alliance with Warren Lichtenstein to seek changes at KT&G Corp., South Korea's biggest tobacco company.
Malaysia Keeps Key Rate Unchanged for Third Meeting After Inflation Eases Malaysia's central bank kept its benchmark interest rate unchanged for a third straight meeting, citing easing inflation.
European Headlines (via Bloomberg.com)
Belgacom Will Buy Vodafone's 25 Percent Stake in Proximus for $2.6 Billion Belgacom SA, Belgium's biggest telephone company, agreed to buy Vodafone Group Plc's (VOD) 25 percent stake in Proximus for 2 billion euros ($2.6 billion) to gain full control of its wireless unit as revenue falls.
Oil Rises as Atlantic Storm Forms, Three Eni Workers Abducted in Nigeria Crude oil rose to its highest in more than a week in New York after a tropical storm began to form near the Gulf of Mexico and three oil workers were reported missing in Nigeria. Natural gas climbed 6 percent.
German Inflation Slowed in August as Prices for Clothes and Fuel Declined Inflation in Germany slowed in August as the price of fuel declined and retailers marked down the price of summer clothes to make room for the autumn and winter collections, reports from six German states show.
European Bank Stocks Rise on Merger Speculation; Ciba, Opap Shares Decline European banking stocks rose on speculation takeovers will increase. Italy's Banca Intesa SpA and Sanpaolo IMI SpA (IMI) extended gains after saying yesterday they may combine.
Ryanair Seeks $5.67 Million From U.K. Government on Security Costs, Delays Ryanair Holdings Plc (RYAAY), Europe's largest low-cost airline, filed a claim for 3 million pounds ($5.67 million) in compensation from the U.K. to pressure its government to return to lower security at airports.
U.S. Headlines (via Bloomberg.com)
Ford May Sell Luxury Brands to Former Chief Nasser, People Familiar Say Ford Motor Co. (F), restructuring after a $1.44 billion first-half loss, is in talks to sell some luxury- auto brands to an investment group led by former Chief Executive Officer Jacques Nasser, four people familiar with the discussions said.
PricewaterhouseCoopers, World's Biggest Accountant, Faces Audit From IRS PricewaterhouseCoopers LLP, the world's largest accounting firm, is being audited by the Internal Revenue Service for potential violations in reporting its own taxes, according to IRS and company documents.
U.S. Stock-Index Futures Are Little Changed; Ford Shares Rise in Europe U.S. stock-index futures were little changed before reports next week on consumer confidence and the job market that may indicate how much interest-rate increases are affecting economic growth.
Bernanke, Once Dismissive of Asset Prices, Faces Fallout From Housing Drop The first time Ben S. Bernanke appeared at the Federal Reserve's annual mountain retreat seven years ago, the Princeton University economist's message urging a hands-off approach to asset prices sent his reputation soaring.
Bonds in U.S., Germany, Japan Rally as Global Inflation Concerns Diminish Yields on 10-year bonds in the U.S., Germany and Japan fell to their lowest in more than four months on signs inflation pressures are receding in the world's three biggest economies.
Israeli-Style Airline Security, Costly and Intrusive, May Be Heading West Eleanor Schwartz is 78 and has trouble walking. Yet every time the Neponsit, New York, resident flies on El Al Israel Airlines Ltd., security agents at John F. Kennedy International Airport go through her medications and question her for several minutes.
U.S. Pre-Market Movers (via Briefing.com)
J. Crew Group (JCG) +3.37%; 27.60 (+0.90) -- Co reported Q2 (Jul) earnings of $0.21 per share, which excludes non-recurring items and may not be comparable to the Reuters Estimates consensus of $0.17. Revenues rose 17.3% year/year to $269.2 mln vs. the $271.1 mln consensus.
McData Corp. (MCDTA) -2.46%; 3.97 (-0.10) -- Excluding non-recurring items, co reported Q2 (Jul) earnings of $0.01 per share, $0.02 better than the Reuters Estimates consensus of ($0.01). Revenues fell 9.2% year/year to $150.1 mln vs. the $151.3 mln consensus.
Ansoft Corp. (ANST) +6.96%; 21.68 (+1.41) -- Co reported Q1 (Jul) earnings of $0.12 per share, excluding non-recurring items, $0.04 better than the Reuters Estimates consensus of $0.08. Revenues rose 16.9% year/year to $17.3 mln vs. the $16.9 mln consensus. Briefing.com note: Actual and consensus EPS do not include stock-based compensation expense.