-Stocks slightly higher on 9-11
-Fiscal cliff could get 'messy' -Goldman Sachs

Dow Jones: 0.67%
Nasdaq Comp.: 0.22%
S&P 500: 0.46%

The main US equity benchmarks are holding ever so slightly higher on the 11th anniversary of the infamous September 11th attack. Quite interestingly, investors seem to be expecting further easing from the Fed, although judging by market commentary some of those same investors have lowered their expectations slightly.

That ahead of tomorrow morning's expected announcement, from Germany's Constitutional Court, regarding the legality of Europe's so-called European Stability Mechanism, not to mention Thursday's Fed meeting outcome.

Acting as a backdrop, ratings agency Moody's has today warned of the need for Congress to take action to contain the country's worrisome financial situation.

In a similar vein, Goldman Sachs's David Kostin yesterday said a deal to head-off automatic tax increases and spending cuts at the start of next year may be "messy" and could hurt stocks, Bloomberg reports.

Of interest, as an aside, the rise seen in small-businesses' hiring intentions to multi-year highs.

Morgan Stanley raises stake in Citigroup joint-venture



Mc.Donald's is slightly higher after announcing a 3.7% rise in its global same-stores sales for August.

Legg Mason's chief executive officer has announced his resignation on the next October 1.

First Solar is advancing on news that it has inked a contact with PG&E.

Morgan Stanley will acquire 14% of its brokerage joint-venture from Citigroup at a significant discount to Citigroup's own valuation of the unit.

Green Mountain Coffee Roasters is rising after Luigi Lavazza said in a filing after the market closed yesterday that it increased its stake to 6.8%.

Goldman Sachs has downgraded Bristol Myers Squibb to buy from Conviction buy.

From a sector stand-point the best performers now are: Renewable energies (3.81%), Aluminum (2.6%) and Iron&Steel (2.43%).



Small business hiring intentions climb



The US trade deficit fell by 0.2% month-on-month in July, to $42bn (Consensus: $43.5bn). That as exports declined by 1% but imports did so by another 0.8% month-on-month.

The NFIB small business sentiment index rose by 1.7 points in August, to 92.9, its first increase since April.

According to economists at Barclays Research: "The net percentage expecting improved credit conditions also fell to -9% from -7%. As has been the case in recent months, taxes (23% of respondents), poor sales (20%), and government red tape (21%) were the issues most frequently reported as the single most important problem for small businesses. On the whole, while it is hard to read too much into any one report, it is especially encouraging to see the improvements in the economic outlook and hiring sentiment."

Same-store US retail sales grew by 1.0% week-on-week.



Slight rise in West Texas crude futures



Front month West Texas crude futures are now higher by 0.38 dollars, at 96.92 on the NYMEX.

10 year US Treasuries are down by 9/32 dollars with yields at 1.69%.




S&P 500 - Risers
Advanced Micro Devices Inc. (AMD) $3.75 +7.95%
Cliffs Natural Resources Inc. (CLF) $41.66 +6.33%
Alpha Natural Res (ANR) $7.33 +5.92%
Cabot Oil & Gas Corp. (COG) $44.59 +5.89%
First Solar Inc. (FSLR) $21.84 +5.05%
Legg Mason Inc. (LM) $26.75 +5.05%
Gannett Co. Inc. (GCI) $17.09 +4.88%
DeVry Inc. (DV) $21.56 +4.71%
Southwestern Energy Co. (SWN) $34.00 +4.62%
Range Resources Corp. (RRC) $70.60 +4.21%

S&P 500 - Fallers
Ralph Lauren Corp (RL) $155.07 -3.27%
Sprint Nextel Corporation (S) $5.04 -2.14%
Lorillard Inc. (LO) $121.00 -2.07%
Urban Outfitters Inc. (URBN) $38.67 -2.05%
Monster Beverage Corp (MNST) $56.13 -1.90%
Southwest Airlines Co. (LUV) $9.00 -1.64%
Whole Foods Market Inc. (WFM) $96.18 -1.64%
Capital One Financial Corp. (COF) $56.11 -1.63%
Mead Johnson Nutrition Co. (MJN) $74.56 -1.61%
Rockwell Automation Inc. (ROK) $71.30 -1.57%

Dow Jones I.A - Risers
Bank of America Corp. (BAC) $8.89 +3.61%
Alcoa Inc. (AA) $9.31 +2.87%
Hewlett-Packard Co. (HPQ) $17.85 +2.41%
Travelers Company Inc. (TRV) $66.71 +2.14%
Caterpillar Inc. (CAT) $88.67 +1.80%
JP Morgan Chase & Co. (JPM) $39.34 +1.50%
E.I. du Pont de Nemours and Co. (DD) $51.23 +1.19%
International Business Machines Corp. (IBM) $203.15 +1.09%
Intel Corp. (INTC) $23.48 +0.94%
Wal-Mart Stores Inc. (WMT) $74.19 +0.93%

Dow Jones I.A - Fallers
Kraft Foods Inc. (KFT) $39.74 -1.18%
Home Depot Inc. (HD) $56.92 -0.66%
American Express Co. (AXP) $57.29 -0.40%
Procter & Gamble Co. (PG) $68.51 -0.00%

Nasdaq 100 - Risers
Green Mountain Coffee Roasters Inc. (GMCR) $32.04 +5.54%
Research in Motion Ltd. (RIMM) $7.50 +4.90%
Apollo Group Inc. (APOL) $28.90 +3.10%
Netflix Inc. (NFLX) $57.06 +2.04%
Expedia Inc. (EXPE) $53.74 +1.88%
Staples Inc. (SPLS) $11.46 +1.87%
Priceline.Com Inc. (PCLN) $619.27 +1.80%
Nvidia Corp. (NVDA) $13.51 +1.74%
Nuance Communications Inc. (NUAN) $24.79 +1.52%
Wynn Resorts Ltd. (WYNN) $104.65 +1.51%

Nasdaq 100 - Fallers
Monster Beverage Corp (MNST) $56.13 -1.90%
Sirius Satellite Radio Inc. (SIRI) $2.46 -1.79%
Whole Foods Market Inc. (WFM) $96.18 -1.64%
Micron Technology Inc. (MU) $6.32 -1.48%
Fossil Inc. (FOSL) $84.78 -1.27%
Vertex Pharmaceuticals Inc. (VRTX) $55.96 -1.20%
Kraft Foods Inc. (KFT) $39.74 -1.18%
Cerner Corp. (CERN) $73.00 -1.08%
Google Inc. (GOOG) $694.01 -0.96%
Costco Wholesale Corp. (COST) $99.51 -0.94%

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