Bloomberg:
- BlueScope Steel Ltd., Australia’s largest steelmaker, cut its full-year profit estimate for the third time this year. Its shares fell the most in three months.
- The American public has turned against the Fed’s two-year campaign of interest-rate increases, concerned it may hurt the economy by slowing growth, a Bloomberg/LA Times poll shows.
Financial Times:
- Dell Inc.(DELL) has reorganized its Americas division after several quarters of worse-than-expected results, citing an interview with CEO Rollins.
Late Buy/Sell Recommendations
- None of note
Night Trading
Asian Indices are +.75% to +1.25% on average.
S&P 500 indicated +.08%.
NASDAQ 100 indicated +.06%.
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
- (ACN)/.46
- (AM)/.26
- (CA)/.20
- (STZ)/.32
- (GIS)/.61
- (MON)/1.20
- (PALM)/.23
- (WOR)/.40
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- Final 1Q GDP is estimated to rise 5.6% versus a prior estimate of a 5.3% gain.
- Final 1Q GDP Price Index is estimated to rise 3.3% versus a prior estimate of a 3.3% gain.
- Final 1Q Personal Consumption is estimated to rise 5.2% versus a prior estimate of a 5.2% gain.
- Initial Jobless Claims for last week are estimated to rise to 310K versus 308K the prior week.
- Continuing Claims are estimated to fall to 2430K versus 2439K prior.
2:15 pm EST
- The FOMC is expected to raise the benchmark Fed Funds rate 25 basis points to 5.25%.
BOTTOM LINE: Asian indices are higher, boosted by commodity and technology stocks in the region. I expect US equities to open modestly higher and to build on gains into the afternoon, finishing higher. The Portfolio is 75% net long heading into the day.
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