MORNING UPDATE: Seven Summits Research issues alerts for GM, C, AEP, GWW, and ETN

CHICAGO, Oct. 17 /PRNewswire/ -- Seven Summits Research issues the following Morning Update at 8:30 AM EDT with new PriceWatch Alerts for key stocks.

Before the open... PriceWatch Alerts for GM, C, AEP, GWW, and ETN, Market Overview, News Leaders and Laggards, Today's Economic Calendar, and the Quote Of The Day.

QUOTE OF THE DAY

"As China moves toward a more consumer-based society, the savings rate will go down and consumers will spend more, allowing China to buy more from the United States."

-- John Snow, Treasury Secretary, US New PriceWatch Alerts for GM, C, AEP, GWW, and ETN... PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS ----------- -- General Motors Last Price 27.98 - NOV 27.50 CALL OPTION@ $1.90 -> 5.4 % Return assigned* -- Citigroup Inc. Last Price 45.04 - MAR 45.00 CALL OPTION@ $1.75 -> 4.0 % Return assigned* -- American Electric Power Co. Last Price 36.78 - MAY 35.00 CALL OPTION@ $3.30 -> 4.5 % Return assigned* -- WW Grainger Inc. Last Price 63.86 - APR 60.00 CALL OPTION@ $7.00 -> 5.5 % Return assigned* -- Eaton Corp. Last Price 59.85 - APR 55.00 CALL OPTION@ $7.20 -> 4.5 % Return assigned*

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NOTE: All stocks and options shown are examples only. These are not recommendations to buy or sell any security.

MARKET OVERVIEW

In overseas trading, the indices are mixed with a positive bias. Currently, seven of the 14 indexes that we track are in positive territory. With the cumulative average return standing at 0.020. Asian markets struggled in Monday trading, as banking concerns led a decline in the Nikkei after Prime Minister Junichiro Koizumi made a controversial visit to Yasukuni shrine, drawing criticism from China and South Korea. The shrine includes memorials to convicted war criminals. European markets have leveled out a bit, as gains in the oil and gas sectors have been balanced out by declines from auto makers.

The November futures contract on sweet crude oil (CL/X5 - 62.63) settled 0.71 percent lower on Friday. Crude futures are edging higher in early trading, recovering from Friday's four-session low, as traders shrugged off demand concerns and as the twenty-first tropical storm developed in the Caribbean. Crude was recently up $1.61 at $64.21 per barrel.

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DYNAMIC MARKET OPPORTUNITIES

According to a global survey of 70 countries by London-based Mercer Human Resource Consulting, India boasts the fastest-growing salaries in the world. The report covered five areas - senior executives, management personnel, operations, clerical staff and technical staff and its research shows that salaries will jump 7.3% above inflation next year, thanks to strong corporate sector growth. However, in addition to the obvious inflationary pressures that such fast salary growth could cause (and Reserve Bank of India is set to combat this by raising interest rates 0.25% to 6.25% when it meets on October 25), other reports suggest that business costs are actually rising too fast and could eventually dampen many companies' appetite for outsourcing their operations to India. That's not likely to happen any time soon, though - and the economy continues to grow at a rapid pace. Second quarter GDP growth hit 8.1% - a full 1% higher than forecast. And the Bombay Stock Exchange has climbed along impressively over the past three months, rising from levels around 7,250 to 8,201.73 at the close today. Meantime, data from market research company TNS shows that the number of millionaires in the US just rose to a new record for the third straight year, confirming the "mega-wealth effect" is back, following the economic downturn at the start of the century. The actual number is nine million. But perhaps more tellingly, the number of households with an annual income between US$100,000 and US$500,000 also rose to 24.5 million. And as an indication of the slowing market, real estate contributions accounted for 44% of the wealth increase - a 12% drop from 2004.

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NEWS LEADERS AND LAGGARDS

So far today, Hasbro, General Motors, and Mattel lead the list of companies with the most news stories while Newell Rubbermaid and Elan Corp are showing a spike in news. Citigroup Inc, St. Jude Medical, and Yahoo! have the highest srtIndex scores to top the list of companies with positive news while Saks Inc and Krispy Kreme Doughnuts lead the list of companies with negative news reports. Wachovia Corp has popped up with a high positive news sraIndex score.

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TODAY'S ECONOMIC CALENDAR 8:30 a.m. Oct Empire State Mfg Index 16.97 9:30 a.m. Richmond Fed Reserve Bank Pres Lacker gives introductory remarks before the Virginia Financial Literacy Summit in Richmond, Va 4:30 p.m. Philadelphia Fed Pres Santomero speaks on monetary policy in Raleigh, NC 5:20 p.m. Fed Chmn Greenspan meets BOJ Gov Fukui in Tokyo 9:00 p.m. Tsy Secy Snow speaks at the Securities Industry Assn in Beijing 9:30 p.m. Fed Chmn Greenspan speaks on energy in Tokyo

Seven Summits Investment Research is an independent investment research group focusing on the U.S. equities and options markets. Our unique set of analytical tools, screening techniques, rigorous research methods and committed staff provide solid information to help our clients make the best investment decisions possible. For more information go to http://www.sevensummitsinvestmentresearch.com/ . CRD# 137114

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All stocks and options shown are examples only. These are not recommendations to buy or sell any security and they do not represent in any way a positive or negative outlook for any security. Potential returns do not take into account your trade size, brokerage commissions or taxes which will affect actual investment returns. Stocks and options involve risk and are not suitable for all investors and investing in options carries substantial risk. Prior to buying or selling options, a person must receive a copy of Characteristics and Risks of Standardized Options available from Catherine at 800-698-9101 or at http://www.cboe.com/Resources/Intro.asp. Privacy policy available upon request.