Bloomberg:
- Business sentiment among Japanese manufacturers rose to a record in June, the Reuters monthly Tankan survey showed.
- China’s Premier Wen Jiabao told local governments and banks to tighten lending for investment projects as the government seeks to prevent excess capacity from building up in some industries.
- L. Paul Bremer III, the former US administrator in Iraq, said it would be a mistake to set a timetable for withdrawing American troops from that country.
- China’s central bank said it will intensify efforts to drain capital from the country’s financial system to cool surging money supply and lending growth.
Economic Daily News:
- AU Optronics(AUO) expects prices of liquid-crystal display panels to stabilize from next month as demand improves, citing Lee Kun-yao, the company’s chairman.
CNET :
- Dallas Mavericks owner and billionaire Mark Cuban invested in a journalism Web site dedicated to publicizing corporate fraud.
Late Buy/Sell Recommendations
- None of note
Night Trading
Asian Indices are +.25% to +1.0% on average.
S&P 500 indicated +.18%.
NASDAQ 100 indicated +.24%.
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
- (ADBE)/.30
- (BSC)/3.12
- (JW/A)/.24
- (KBH)/2.42
- (OVTI)/.38
- (PIR)/-.26
Upcoming Splits
- (AIT) 3-for-2
- (BMI) 2-for-1
- (CLDN) 3-for-2
- (DDE) 3-for-2
- (IIIN) 2-for-1
- (OII) 2-for-1
- (PARL) 2-for-1
Economic Releases
8:30 pm EST
- Initial Jobless Claims for last week are estimated to rise to 320K versus 302K the prior week.
- Continuing Claims are estimated to rise to 2425K versus 2415K prior.
- Empire Manufacturing for June is estimated to fall to 11.0 versus a reading of 12.4 in May.
9:00 am EST
- Net Foreign Security Purchases for April are estimated to fall to $60.0B versus $69.8B in March.
9:15 am EST
- Industrial Production for May is estimated to rise .2% versus a .8% gain in April.
- Capacity Utilization for May is estimated at 81.9% versus 81.9% in April.
12:00 pm EST
- The Philly Fed for June is estimated to fall to 11.0 versus a reading of 14.4 in May.
BOTTOM LINE: Asian indices are higher, boosted by technology stocks in the region. I expect US equities to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
No comments:
Post a Comment