Bloomberg:
- Carlyle Group and Riverstone Holdings LLC are among potential bidders in talks to acquire the Lyondell-Citgo refinery in Houston for more than $4 billion.
- Companies that build in a profit for executives on stock options by making grants ahead of good news aren’t guilty of insider trading, said Paul Atkins, a commissioner at the SEC.
- Advanced Micro Devices(AMD) reported preliminary second-quarter sales that missed the company’s forecast after its larger rival Intel Corp.(INTC) offered a price cut to win back orders.
Financial Times:
- Plans for a Europe-wide missile defense system that could protect the continent from threats from Iran and North Korea are winning backing from NATO.
Chosun Ilbo:
- A South Korean passenger aircraft was flying over the East Sea about 20 minutes before North Korea test-fired its first missile early on July 5.
Late Buy/Sell Recommendations
- None of note
Night Trading
Asian Indices are unch. to +.75% on average.
S&P 500 indicated -.03%.
NASDAQ 100 indicated -.08%.
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
- None of note
Upcoming Splits
- (HANS) 4-for-1
- (HP) 2-for-1
- (UBS) 2-for-1
Economic Releases
8:30 am EST
- The Change in Non-farm Payrolls for June is estimated at 175K versus 75K in May.
- The Change in Manufacturing Payrolls for June is estimated at 1K versus -14K in May.
- The Unemployment Rate for June is estimated at 4.6% versus 4.6% in May.
- Average Hourly Earnings for June are estimated to rise .3% versus a .1% gain in May.
BOTTOM LINE: Asian indices are mostly higher, boosted by exporting stocks in the region. I expect US equities to open modestly higher and to maintain gains into the afternoon. The Portfolio is 75% net long heading into the day.
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