Bloomberg:
- News Corp.'s "Star Wars: Episode III—Revenge of the Sith" opened as the top film in the US and Canada with weekend sales of $108.4 million, the second-largest three-day gross ever, after Sony's 2002 "Spider-Man."
- A bipartisan group of US senators reached agreement to head off a confrontation over President Bush's judicial appointments, averting a showdown on the eve of a historic vote to revise the Senate's rules.
Financial Times:
- The US Treasury told the Chinese government to revalue the yuan by at least 10% against the dollar to prevent protectionist legislation in the US Congress
- PepsiCo has identified as many as 20 potential takeover targets in Europe.
Nihon Keizai:
- Tokyo Steel Manufacturing said yesterday that it plans to reduce steel sheet product prices by up to 14% starting in June to compete with imports.
Beijing Business Today:
- China's 17 makers of SUVs all had declining sales in the first four months of this year, some as much as 97%, as soaring fuel prices eroded demand for the vehicles.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on ADP, EBAY, DNA, PFE and ACN.
- Reiterated Underperform on LSI.
Night Trading
Asian Indices are -.25% to +.50% on average.
S&P 500 indicated -.08%.
NASDAQ 100 indicated -.13%.
Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Before the Bell CNBC Video(bottom right)
Global Commentary
Asian Indices
European Indices
Top 20 Business Stories
In Play
Bond Ticker
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/EPS Estimate
CSC/1.07
GME/.16
MDT/.53
NTAP/.17
TSA/.25
WSM/.19
Splits
ADBE 2-for-1
JBHT 2-for-1
Economic Releases
10:00 EST
- Existing Home Sales for April are estimated to rise to 6.9M from 6.89M in March.
2:00 EST
- Minutes of May 3 FOMC Meeting
BOTTOM LINE: Asian indices are mixed as continuing losses in China are being offset by gains in Australia and Taiwan. I expect US equities to open mixed ahead of the FOMC minutes release. However, stocks may gain later in the day on more short-covering, strong existing home sales, optimism and lower energy prices. The Portfolio is 100% net long heading into the day.
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