Bloomberg:
- President Bush today approved an additional $80 million over the next two years to foster democracy in Cuba.
- China asked member governments of the UN Security Council to adopt a non-binding statement critical of North Korea’s ballistic missile program, a proposal the US and Japan rejected as too weak.
- Posco, the world’s fourth-largest steelmaker, may say profit declined for a third straight quarter as competition from China forced the company to lower prices and raw material costs rose.
Wall Street Journal:
- SEC Chairman Christopher Cox said Russia’s economic success depends on whether the government allows for the free flow of information. Russia’s restrictions on the media “deeply concern” capital markets, Cox wrote.
Financial Times:
- The European Commission will raise the ceiling for potential future fines on Microsoft(MSFT) to $3.8 million a day.
Age:
- US farmers are seeking hundreds of millions of dollars in compensation from AWB Ltd. as part of a class action filed in Washington against the Australian wheat exporter.
Chosun Ilbo:
- South Korea likely dropped its request to include goods made in the North Korean industrial park of Gaeseong from free-trade talks with the US.
Late Buy/Sell Recommendations
- None of note
Night Trading
Asian Indices are -.75% to -.25% on average.
S&P 500 indicated -.08%.
NASDAQ 100 indicated unch.
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
- (AMB)/.44
- (FLS)/.22
- (DNA)/.47
- (RI)/.51
Upcoming Splits
- None of note
Economic Releases
- None of note
BOTTOM LINE: Asian indices are lower, weighed down by technology and commodity stocks in the region. I expect US equities to open modestly lower and to trim losses into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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