Bloomberg:
- Australia has increased its troop commitment to Afghanistan ahead of elections in September, Defense Minister Robert Hill said.
- The US dollar is poised for its biggest weekly advance against the euro in more than two months on speculation international investors are increasing purchases of US debt to boost returns.
- Economic growth among members of the Association of Southeast Asian Nations may slow by as much as 1.5 percentage points this year if the price of oil remains above $60/bbl., said Secretary-General Ong Keng Yong.
- Crude oil may fall for a second week as record gas prices deter consumers, reducing demand, and global production increases, a Bloomberg survey showed.
Financial Times:
- China has set up an armed and helicopter-equipped police force in major cities to fight terrorism and an increasing number of riots.
Commercial Times:
- AU Optronics cut its target for 2005 shipments of small-and medium-sized flat-panel displays by 20% to 55 million units because mobile-phone makers postponed orders.
Japan Metal Daily:
- Chinese export-coke prices fell below $200 a ton for the first time in two years on a free-on-broad basis because of oversupply and as steelmakers cut production.
China Business News:
- A Home Depot unit, which focuses on wholesale and retail of home-improvement products, won approval to set up a store in Shanghai.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on MRVL.
- Reiterated Underperform on HC and BKS.
Night Trading
Asian Indices are -.50% to +.25% on average.
S&P 500 indicated +.05%.
NASDAQ 100 indicated +.09%.
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
ANN/.17
Upcoming Splits
CRR 3-for-2
STGS 3-for-2
Economic Releases
None of note
BOTTOM LINE: Asian indices are mostly lower, led down by exporting shares in the region. I expect US equities to open modestly lower and to move higher later in the afternoon. The Portfolio is 75% net long heading into the day.
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