Asian indices are mixed as gains in auto stocks in the region are being offset by weakness in commodity-related shares. Diana Shipping, a Greek owner of ships that carry coal, grain and other so-called dry bulk commodities, plans to raise $242 million selling shares in New York, Lloyd's List reported. Advanced Micro Devices will today begin testing and packaging microprocessors at its plant in the eastern Chinese city of Suzhou to compete with Intel Corp., Shanghai Daily said. Taiwanese President Chen Shui-bian told the European Union its plans to lift an arms embargo on China will threaten the balance of military power in east Asia, AFP reported. China will cut by 80% the number of companies licensed to import iron ore under a new permitting system, China Business News said. Asylum applications to industrialized countries fell in 2004 for the third consecutive year to their lowest level for 16 years, the Financial Times reported. Australia's economy barely grew in the fourth quarter as home building slumped, retail sales fell and companies reduced their stockpiles, Bloomberg reported. Toyota Motor, Nissan Motor and other Asian automakers extended US market-share gains for a sixth straight month in February as their new light-truck models helped draw more buyers, Bloomberg said. China's four biggest shipping lines are buying or building oil tankers with the combined capacity to carry more than half the global increase in oil production this year, Bloomberg reported. The US dollar is rising for a third day against the euro in Asia on expectations Fed Chairman Greenspan will ease concerns over the US current account deficit when he testifies before Congress today, Bloomberg reported.
Late Recommendations
- Goldman Sachs: Reiterated Outperform on CAT and raised EPS estimates. Reiterated Outperform on HOT and FS. Reiterated Underperform on PSS and HMT.
Night Trading
Asian Indices are -.50% to +.25% on average.
S&P 500 indicated -.18%.
NASDAQ 100 indicated -.39%.
Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Before the Bell CNBC Video(bottom right)
Asian Indices
European Indices
Top 20 Business Stories
In Play
Bond Ticker
Analyst Actions
Macro Calls
CNBC Guest Schedule
Earnings of Note
Company/Estimate
AEOS/1.39
AMLN/-.44
AZO/1.19
CEC/.45
CHS/.20
COO/.55
COST/.55
EV/.29
ESRX/1.06
HOV/1.20
LIZ/.74
MIK/.78
NMG/A/1.43
PETM/.44
PDE/.03
TTN/.21
Splits
EOG 2-for-1
RECN 2-for-1
Economic Data
None of note.
BOTTOM LINE: I expect US equities to open mixed ahead of multiple Fed speeches later in the day and significant economic reports on Thur. and Fri. The Portfolio is 100% net long heading into tomorrow.
No comments:
Post a Comment