Bloomberg:
- MGM Mirage said it's looking for more projects in the southern Chinese city of Macau in addition to a $975 million casino hotel being built in the former Portuguese enclave.
- School Specialty, which sells educational products to schools, agreed to be acquired by private buyout firm Bain Capital Parters LLC.
- Australia's economy grew less than expected in the first quarter as business investment shrank and farm output stalled, reinforcing expectations the central bank has finished raising interest rates this year.
Wall Street Journal:
- Lego Holdings AS, the Danish toy maker known for its plastic stackable bricks, is close to selling its theme parks to Blackstone Group LP for $462.1 million.
Financial Times:
- General Motors and Ford Motor may announce more cuts in their North American output.
Shanghai Daily:
- Shanghai imposed new taxes to cool an overheating property market.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on MDT, AIG, MSFT, DIS and BSX.
Night Trading
Asian Indices are -.25% to +.50% on average.
S&P 500 indicated +.13%.
NASDAQ 100 indicated +.06%.
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
CMVT/.11
CPRT/.31
EASI/.53
NMG/A/1.55
Splits
GIL 2-for-1
PDS 2-for-1
WLP 2-for-1
Economic Releases
8:00 EST:
- Construction Spending for April is estimated to rise .6% versus a .5% increase in March.
- ISM Manufacturing for May is estimated to fall to 52.1 from 53.3 in April.
- ISM Prices Paid for May is estimated to fall to 67.5 from 71.0 in April.
Afternoon:
- Total Vehicles Sales for May are estimated to fall to 16.7M versus 17.5M in April.
- Domestic Vehicle Sales for May are estimated to fall to 13.5M versus 13.9M in April.
BOTTOM LINE: Asian indices are mixed as gains in Australia offset losses in China. I expect US equities to open modestly lower on worries over slowing global growth. The Portfolio is 50% net long heading into the day.
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