Bloomberg:
- Copper futures in Shanghai fell amid concern that rising global interest rates will hurt demand growth for the metal. Prices have plunged 33% since reaching a record on May 15.
- The European Commission is “generally supportive” of an agreement between Nokia Oyj(NOK) and Siemens AG to combine their telecommunications network-equipment units, the telecommunications commissioner said.
- Gold and silver in Asia fell as a declining oil price eased concern that inflation may accelerate.
- McDonald’s Corp.(MCD) said it will start a chain of drive-through fast-food outlets in China with oil refiner and gas station operator China Petroleum & Chemical Corp.
- South Korea may be preparing to launch a satellite rather than testing a missile, South Korea's ruling party said, citing Unification Minister Lee Jong Seok.
Financial Times:
- MySpace.com, the on-line social networking site purchased by News Corp.(NWS/A) last year, is targeting 11 countries for international expansion, including France and Germany.
Apple Daily:
- Quanta Computer and Asustek Computer will manufacture 2.3 million MacBook laptop computers for Apple Computer this year, citing an estimate by UBS AG.
Late Buy/Sell Recommendations
- None of note
Night Trading
Asian Indices are -1.75% to -.50% on average.
S&P 500 indicated +.12%.
NASDAQ 100 indicated +.10%.
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
- (ATU)/.78
- (APOL)/.74
- (CBK)/.37
- (CMC)/.70
- (DRI)/.60
- (FDS)/.39
- (SJM)/.58
Upcoming Splits
- None of note
Economic Releases
8:30 pm EST
- Housing Starts for May are estimated to rise to 1869K versus 1849K in April.
BOTTOM LINE: Asian indices are lower, weighed down by commodities and automaking stocks in the region. I expect US equities to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.
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