FCX Freeport-McMoRan: Workers at Freeport Indonesia plans to extend its strike that began on July 4th through July 18th - Dahlman Rose (54.82 -0.67) Dahlman Rose notes the union representing workers at Freeport Indonesia plans to extend its strike that began on July 4th, through July 18th. The Grasberg mine is the co's premier asset, and accounts for roughly 30% of its production. Freeport believes the strike is illegal, but is prepared to begin negotiations for a new two-year contract. This…

S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: +5.50.

Domestic stock futures have made a minor tick higher, but overseas action remains mixed. Germany's DAX is down 0.5% at the moment. Siemens (SI) has offered some support, but its effort has been undermined by weakness in Thyssenkrupp, K+S AG, and Volkswagen. Shares of Volkswagen shed more than 9% on the DAX last week and are now down another 2% this session. According to data, Germany's Manufacturing…

Early Floor Talk: Slight bid to start the week



U.S. equity futures are showing a slight bid, with S&P futures +2 vs. fair value and DJ futures +14. The subdued futures trade follows a mixed overseas performance, with fluctuations in Europe at mid-day (FTSE +0.3%, DAX -0.5%, CAC flat) after a mixed start to the week in Asia (Nikkei +0.70%, Hang Seng -0.3%, Shanghai -0.7%). While the overnight session was relatively quiet in terms of major news items, in Europe, weaker earnings…

GOOG Google: Argus reviews Q4 results and mgmt changes (611.83 )



Argus expects Google to benefit from the increased desire of advertisers for measurable ROI as the internet advertising market continues its overall recovery. It notes that paid clicks have remained strong on both Google's own websites and within partner sites, with an aggregate 18% year-over-year increase in 4Q10. The co is ramping up hiring and making acquisitions in order to expand on its core internet search…

Asian Markets Close: Nikkei +0.7%, Hang Seng -0.3%, Shanghai -0.7%, Sensex +0

The major Asian indices closed mixed as inflation fears continue to weigh on shares across the region. Reports indicate the People's Bank of China injected CNY 300 bln into the system through repo transactions to help alleviate liquidity concerns at Chinese banks as citizens demand cash for the lunar New Year. Indian shares rose following strong earnings from the banking sector. Looking at the…

EWJ Japan Economic Data 

Nov Household Spending -0.4% vs -0.4% in Nov 2009

Nov Jobless Rate 5.1% vs 5.1% in Oct

Nov CPI +0.1% vs +0.2% in Nov 2009

Nov CPI Ex Fresh Food -0.5% vs -0.6% in Nov 2009

Nov Job-To-Applicant Ratio 0.57 vs 0.56 in Oct

Nov Prelim Industrial Production +1.0% vs -2.0% in Oct

Nov Large Retail Sales +0.2% vs +0.4% in Oct

Nov Retail Trade +1.9% vs -1.9% in Oct

Nov Labor Cash Earnings -0.2% vs +0.5% in Nov 2009

Mario…