- Asian takeovers reached a record $119 billion in the first quarter, as Japan's Mitsubishi Tokyo Financial Group and UFJ Holdings announced plans to merge and form the world's biggest bank by assets.
- Crude oil is falling for a third day on speculation global stockpiles may rise because of increased output by the OPEC.
- Wal-Mart Stores would be required to spend more on employee health care under legislation approved today my Maryland lawmakers.
- HealthSouth sued its former auditors, Ernst & Young LLP, for failing to detect a $2.7 billion accounting fraud.
- Taiwan central bank's US dollar assets rose after the bank bought the unit to stop the local currency's gain. US dollar assets now account for about 70% of the island's foreign-currency reserves, up from about 60% in the second half of last year.
Hong Kong Economic Journal:
- China's National Development and Reform Commission urged the central bank to raise interest rates to curb property prices.
- Prices for new apartments in Shanghai fell last month as government efforts to cool the property market start to take effect.
Economic Daily News:
- Taiwan Semiconductor Manufacturing and United Microelectronics are likely to see their March sales rise from February as demand for chips used in flat panel displays is climbing.
Late Buy/Sell Recommendations
- Reiterated Outperform on GOOG, IBM, DKS and YHOO.
Asian Indices are -.25% to +.50% on average.
S&P 500 indicated +.09%.
NASDAQ 100 indicated +.07%.
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Before the Bell CNBC Video(bottom right)
Top 20 Business Stories
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
None of note
None of note
BOTTOM LINE: Asian indices are mostly higher as another decline in energy prices is boosting exporting shares in the region. I expect US equities to open mixed as optimism over lower energy prices offsets worries over Tech sector earnings. The Portfolio is 50% net long heading into tomorrow.