Bloomberg:
- Shares of LG.Philips LCD Co., the world’s second-largest liquid-crystal display maker, may fall after the company slashed its quarterly earnings forecast days after rival AU Optronics(AUO) cut estimates.
- Fed Chairman Bernanke said it’s in China’s interest to make the yuan’s exchange rate more flexible and the world economy more balanced.
- Crude oil fell a second day in NY as a government report may show US gasoline inventories rose for a seventh straight week.
Wall Street Journal:
- Blackstone Group LP and Carlyle Group, two private equity firms seeking to hold IPOs this year, have postponed their plans and may not list.
Economic Daily News:
- Taiwan’s central bank will raise interest rates at its quarterly policy meeting later this month.
Late Buy/Sell Recommendations
- None of note
Night Trading
Asian Indices are -2.25% to -1.5% on average.
S&P 500 indicated +.10%.
NASDAQ 100 indicated +.16%.
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
- (BBY)/.36
- (CA)/.19
- (FLS)/.52
- (FRE)/1.21
- (GS)/4.19
Upcoming Splits
- (KMG) 2-for-1
- (LUK) 2-for-1
- (AIT) 3-for-2
- (BMI) 2-for-1
- (CLDN) 3-for-2
- (DDE) 3-for-2
Economic Releases
8:30 pm EST
- The Producer Price Index for May is estimated to rise .4% versus a .9% increase in April.
- The PPI Ex Food & Energy for May is estimated to rise .2% versus a .1% increase in April.
- Advance Retail Sales for May are estimated to rise .1% versus a .5% increase in April
10:00 am EST
- Business Inventories for April are estimated to rise .6% versus a .7% increase in March.
BOTTOM LINE: Asian indices are sharply lower, pressured by commodity and technology stocks in the region. I expect US equities to open modestly lower and to rise into the afternoon, finishing modestly higher. The Portfolio is 25% net long heading into the day.
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