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Strong Upside Expected at Stock Open
By: Midnight Trader   Monday, November 09, 2009 9:33 AM

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U.S. PRE-MARKET INDICATORS


-Dow Industrial futures up 89 points.

-S&P 500 futures up 9 points.

-Nasdaq 100 futures up 15 points.

-Nasdaq-100 Pre-Market Indicator up 12.48 at 1743.24.

GLOBAL SENTIMENT


Nikkei up 0.2%

Hang Seng up 1.7%

FTSE-100 up 1.7%

PRE-MARKET SECTOR WATCH


(+) Large cap tech: firmer

(+) Chip stocks: firmer

(+,-) Drug stocks: mixed

(+) Software stocks: mostly firmer

(+) Internet stocks: mixed

(+) Financial stocks: firmer

(+,-) Auto stocks: mixed

(-,+) Airline stocks: mixed

(+) Retail stocks: mixed

UPSIDE MOVERS


(+) GE (+2.6%) report says co. agrees to $30 bln value on Comcast JV.

(+) EWBC (+53.7%) buying banking operations of United Commercial Bank.

(+) FUQI (+9.7%) results top year-ago period.

(+) ARIA (+13%) upgraded to Overweight at JP Morgan.

(+) CGEN (+18.1%) reports discovery of genetic biomarker related to diabetes.

(+) NOC (+4%) sells TASC for $1.65 bln.

(+) CMED (flat) gets SFDA approval for leukemia fusion gene detection FISH probe.

(+) CBY (+1%), KFT (+0.5%) Cadbury rejects new Kraft offer.

(+) ANF (+5.1%) gets upgrade.

(+) ADBE (+4.2%) gets upgrade.

DOWNSIDE MOVERS

(-) RSH (-0.2%) gives up early gain; gets upgrade.

(-) DISH (+6.3%) results decline vs year-ago quarter.

(-) TEC (-74%) files for Ch. 11.

(-) RPRX (-25%) reports wider loss, gets going concern notice.

MARKET DIRECTION

Stock futures continue to point to a solidly higher open as the broader market looks to extend last week's advance and overnight gains abroad. Financial and commodity-linked shares are early gainers, helping to set the tone for the broader market.

Crude futures are up $0.80 at $78.23 a barrel, moving on a weaker dollar and on concerns that a weakened Hurricane Ida could still impact production in the northern Gulf Coast. Oil is off its earlier highs.

Gold is up $14.90 at $1,109.30 an ounce. Another push lower for the dollar allowed gold to carve out new highs. Weekend G-20 meetings offered little commmentary on currency levels.


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The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.
  
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