Bloomberg:
- Samsung Electronics posted a first-quarter profit drop of 52% on falling prices of chips and liquid crystal displays.
- Oil may fall for a third week because of an increase in US crude and gasoline inventories, a Bloomberg survey showed.
- Japan's government may agree to joint drilling with China in a gas filed in a disputed area in the East China Sea.
Financial Times:
- Increased Iraqi oil production may help meet a rise in global oil demand this year if security in the country continues to improve.
China Securities Journal:
- China's asset regulator said "conditions are right" for pilot programs to start selling government stakes in publicly listed companies.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on TPX and MXT.
Night Trading
Asian Indices are -1.75% to -1.0% on average.
S&P 500 indicated -.16%.
NASDAQ 100 indicated -.35%.
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
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/EPS Estimate
BE/.08
CEN/.16
C/1.02
DECK/.70
GE/.37
GPC/.61
KEY/.61
KRI/.71
MAT/.03
RF/.56
TRB/.40
WB/1.01
Splits
None of note
Economic Releases
8:30 EST
- Empire Manufacturing for April is estimated to fall to 18.0 versus a reading of 19.6 in March.
- The Import Price Index for March is estimated to rise 1.4% versus a .8% gain in February.
9:00 EST
- Net Foreign Security Purchases for February are estimated to fall to $65.0B versus $91.5B in January.
9:15 EST
- Industrial Production for March is estimated to rise .3% versus a .3% increase in February.
- Capacity Utilization for March is estimated to rise to 79.6% versus 79.4% in Februray.
9:45 EST
- Preliminary Univ. of Mich. Consumer Confidence for April is estimated to fall to 91.5 versus a reading of 92.6 in March.
BOTTOM LINE: Asian indices are sharply lower, led down by technology stocks in the region. I expect US equities to open lower on losses in Asia, earnings worries and disappointing economic data, however stocks may rally later in the day on short-covering, lower long-term interest rates and bargain-hunting. The Portfolio is Market Neutral heading into tomorrow.
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