Bloomberg:
- Microsoft agreed to change its Windows XP operating software to address fresh antitrust concerns that traces of programs consumers choose to hide still appear on their computer screens.
- SEC Chairman Donaldson's resignation may spark a battle to reduce the agency's reach over corporate America and Wall Street.
Wall Street Journal:
- Citigroup is in discussion to exchange its Smith Barney mutual fund business with Legg Mason.
AP:
- President Bush will nominate California Republican Representative Christopher Cox to be the new chairman of the SEC, replacing William Donaldson.
Economic Daily News:
- Nvidia Corp. and ATI Technologies have chosen Taiwan Semiconductor Manufacturing as their only supplier of chips that use 90-nanometer technology.
People's Daily:
- Property prices and transaction volume in 11 major Chinese cities fell after the government unveiled measures last month to curb real estate speculation.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on SBUX, FMD, CAL, MDT and ARO.
Night Trading
Asian Indices are -.25% to +.75% on average.
S&P 500 indicated +.02%.
NASDAQ 100 indicated +.03%.
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
JTX/1.38
SFL/.50
TTWO/-.13
Splits
COP 2-for-1
EGN 2-for-1
RESP 2-for-1
Economic Releases
8:30 EST:
- Final 1Q Non-farm Productivity is estimated to rise 3.0% versus a prior estimate of a 2.6% increase.
- Final 1Q Unit Labor Costs is estimated to rise 2.1% versus a prior estimated of a 2.2% gain.
- Initial Jobless Claims for last week are estimated to rise to 325K versus 323K the prior week.
- Continuing Claims are estimated to rise to 2581K versus 2574K prior.
10:00 EST:
- Factory Orders for April are estimated to rise 1.1% versus a .1% gain in March.
BOTTOM LINE: Asian indices are mostly higher, spurred by gains in exporting and energy shares in the region. I expect US equities to open mixed as optimism over an end to Fed rate hikes offsets higher energy prices. The Portfolio is 100% net long heading into the day.
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