Bloomberg:
- Samsung Electronics said better-than-expected demand for semiconductors that store pictures and songs in gadgets such as mobile phones will prolong a shortage of the chip.
- Chinese stocks climbed, with key indices on course for their biggest advances in four months, as investors bet the government will introduce more incentives to bolster markets.
Financial Times:
- Foreign companies warn that proposed changes in Japan's commercial code could lead investment banks, law firms and others to leave Japan if implemented, citing the European Business Community and American Chamber of Commerce in Japan.
- Investment grade companies' costs for raising funds through syndicated loans are at their lowest level in eight years in Europe and the US, citing market research company Dealogic.
Australian Financial Review:
- BlueScope Steel Ltd., Australia's largest steelmaker, had its share target cut 19% by Citigroup Inc. on concern that steel prices are falling faster than previously forecast.
Oriental Morning Post:
- China may cap steel production when it issues a new policy for the development of the industry in July.
Beijing News:
- The European Union is facing pressure to raise its anti-dumping tariff on bicycles imported from China to 45% from 31%, citing the head of a Chinese industry association.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on LIZ, TRI, CVD and HMA.
- Reiterated Cautious view on Radio sector.
Night Trading
Asian Indices are +.50% to +.75% on average.
S&P 500 indicated +.09%.
NASDAQ 100 indicated +.26%.
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
CMTL/.24
HRB/3.52
KFY/.25
Splits
None of note
Economic Releases
10:00 EST:
- Wholesale Inventories for April are estimated to rise .4% versus a .4% gain in March.
BOTTOM LINE: Asian indices are higher on gains in technology shares in the region after Texas Instruments raised guidance and Samsung made positive comments. I expect US equities to open modestly higher, led by technology shares. The Portfolio is 75% net long heading into the day.
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