Bloomberg:
- GE received a subpoena from the SEC about a type of policy used by its insurance unit that can be misused to smooth earnings.
- Lenovo Group Ltd. appointed IBM's Stephen Ward as CEO after completing the $1.25 billion takeover of IBM's PC division.
Wall Street Journal:
- Fidelity Investments' Abigail P. Johnson, head of the largest US mutual fund company's money management unit, will be transferred to another unit and succeeded by Fidelity executive Stephen P. Jones.
China Times:
- Taiwan is developing long-range missiles.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on MDT, HEP and EMC.
- Reiterated Underperform on MCRL and PFG.
Night Trading
Asian Indices are -.50% to +.50% on average.
S&P 500 indicated -.05%.
NASDAQ 100 indicated -.04%.
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
AG/.24
CMX/.43
CEPH/.52
CVH/1.06
ERTS/.09
EMR/.81
KOSP/.55
LVS/.25
LTR/1.73
MACR/.21
MMC/.49
MXIM/.38
MBI/1.34
MET/.86
NTE/.22
KWK/.20
SHRP/.95
SBL/.11
THC/-.04
RIG/.17
TYC/.47
VRTS/.24
Splits
TBL 2-for-1
HCSG 3-for-2
Economic Releases
10:00 EST:
- Factory Orders for March are estimated to fall 1.2% versus a .2% increase in February.
2:15 EST:
- The FOMC is expected to raise its benchmark rate 25 basis points to 3.0% from 2.75%.
Afternoon:
- Total Vehicle Sales for April are estimated at 16.8M versus 16.8M in March.
- Domestic Vehicle Sales for April are estimated at 13.3M versus 13.5M in March.
BOTTOM LINE: Asian indices are mostly higher, led by technology shares in the region. I expect US equities to open modestly higher on short-covering ahead of the Fed announcement. I expect the Fed to raise their benchmark rate by 25 basis points, keep the "measured" language and make more dovish comments. The market should rally further in the afternoon on the news. The Portfolio is 75% net long heading into tomorrow.
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