Bloomberg:
- Stocks in Dubai, Egypt, Jordan, Kuwait and Saudi Arabia, among the world’s best performers since 2003, are sliding amid a record number of planned IPOs and concern that prices have outpaced the outlook for earrings growth.
- China and Russia are blocking agreement on a US-backed statement by the UN Security Council that Iran must suspend uranium enrichment activities, US Ambassador John Bolton said.
- Emerging-market equity funds have attracted $20.9 billion this year, eclipsing the record inflows they garnered in all of 2005.
- Chinese Premier Wen Jiabao criticized the Taiwanese government for “highly risky and dangerous” actions and threatened to respond to steps toward independence.
- Comcast Corp.(CMCSA), the majority owner of the E! Entertainment Television cable network, is in talks to buy the remaining 40% stake from Walt Disney(DIS).
Wall Streete Journal:
- US Justice Department attorneys on a case against Google(GOOG) will argue tomorrow that the release of the company’s search records won’t violate consumer privacy.
Financial Times:
- Best Buy(BBY) is in talks to buy a minority stake in Five Star Appliance, China’s fourth-largest electronics retailer.
China Daily:
- Juniper Network’s(JNPR) sales in China rose 50% last year from 2004, citing the company’s Chairman and CEO.
Late Buy/Sell Recommendations
- None of note
Night Trading
Asian Indices are -1.0% to -.25% on average.
S&P 500 indicated -.09%.
NASDAQ 100 indicated -.18%.
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
- (BKD)/.06
- (GS)/3.29
- (LEXR)/-.16
- (PDE)/.29
- (SUG)/.42
- (VTIV)/.28
Upcoming Splits
- (BMHC) 2-for-1
- (GWR) 3-for-2
- (PALM) 2-for-1
Economic Releases
8:30 am EST
- The Current Account Deficit for 4Q is estimated to widen to -$218.0 billion versus -$195.8 billion in 3Q.
- Advance Retail Sales for February are estimated to fall .8% versus a 2.3% gain in January.
- Retail Sales Less Autos for February are estimated to fall .5% versus a 2.2% gain in January.
10:00 am EST
- Business Inventories for January are estimated to rise .3% versus a .7% increase in December.
BOTTOM LINE: Asian indices are lower, weighed down by technology shares in the region. I expect US equities to open lower and to rise into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.
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