Bloomberg:
- Asian central banks have “limited” room to add more euros to their reserves, after increasing the amount in that currency in the second half of last year, according to a Goldman Sachs research report.
- Citigroup(C) led Forbes magazine’s annual Global 2000 company list for a third consecutive year.
- Japan’s consumer prices rose in February for a fourth month, adding to prospects that the Bank of Japan may raise interest rates from near zero this year.
- China “regrets” the decision by the European Union and US to file a joint complaint at the World Trade Organization against that country’s tariffs on imports of car parts.
Daily Telegraph:
- UK Prime Minister Tony Blair, who 18 months ago said he would not serve a fourth term in office, will step down by the end of this year.
Financial Times:
- General Motors(GM) should “show resolve” and make a decision on the development of a mass-market hydrogen-powered car within 18 months to ensure it remains competitive, citing an interview with Larry Burns, the carmaker’s vice president in charge of strategic planning.
Late Buy/Sell Recommendations
JPMorgan:
- Raised NOVL to Buy, target $11.
Night Trading
Asian Indices are unch. to +1.0% 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
- (GY)/-.15
- (GPN)/.34
Upcoming Splits
- (DBRN) 2-for-1
- (NX) 3-for-2
Economic Releases
8:30 am EST
- Personal Income for February is estimated to rise .4% versus a .7% increase in January.
- Personal Spending for February is estimated to remain unchanged versus a .9% increase in January.
- The PCE core for February is estimated to rise .1% versus a .2% increase in January.
9:45 am EST
- Final Univ. of Mich. Consumer Confidence for March is estimated to rise to 86.9 versus a prior estimate of 86.7.
10:00 am EST
- Chicago Purchasing Manager for March is estimated to rise to 57.0 versus a reading of 54.9 in February.
- Factory Orders for February are estimated to rise 1.3% versus a 4.5% decline in January.
BOTTOM LINE: Asian indices are mixed, as gains in commodity shares are offsetting losses in exporting stocks in the region. I expect US equities to open modestly lower and to trade modestly higher into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.
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