Bloomberg:
- Coffee fell the most since February in London and dropped to a five-month low in NY on speculation that the harvest in Indonesia, the world’s fourth-largest exporter, is the largest in eight years.
- Google(GOOG) plans to use Dell(DELL) servers as part of its $30,000 search appliance to lure more corporate customers.
- China had a coal mine accident that killed between three and nine people nearly everyday in May, a 30% higher accident rate than in the same month last year. China must take stronger
- The US House of Representatives approved a $32.1 billion spending measure to finance the Homeland Security Dept.’s efforts to tighten security at US ports and borders and fund local emergency programs.
- AU Optronics(AUO) cut its second quarter panel shipments forecast, citing recent market changes.
- Bird flu is a “high risk” for India, Pakistan and other South Asian countries because of the number of poultry kept in the region, where a spread of the vius among humans would cause a recession, the World Bank said.
Financial Times:
- Best Buy Co.(BBY) plans to expand further internationally after it entered China last month, citing an interview with CEO Brad Anderson.
Shanghai Morning Post:
- China may cut tax rebates for some exports, while boosting rebates for technical exports, to help reduce its trade surplus.
Late Buy/Sell Recommendations
- None of note
Night Trading
Asian Indices are -1.75% to -.75% on average.
S&P 500 indicated +.11%.
NASDAQ 100 indicated +.13%.
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
- (AMWD)/.51
- (ALOG)/.41
- (BMC)/.29
- (HRB)/1.79
- (IDT)/-.22
- (MTN)/1.73
Upcoming Splits
- (NSSC) 3-for-2
- (SCSS) 3-for-2
Economic Releases
10:30 am EST
- Bloomberg consensus estimates call for a weekly crude drawdown of 500,000 barrels. Gasoline supplies are expected to rise 1,500,000 barrels. Distillate inventories are estimated to rise 1,750,000 barrels. Finally, refinery utilization is expected to rise .25%.
3:00 pm EST
- Consumer Credit for April is estimated to rise to $3.5B versus $2.5B in March.
BOTTOM LINE: Asian indices are 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 50% net long heading into the day.
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