Bloomberg:
- The Senate voted to create a new US emergency preparedness and response agency to better cope with terrorist attacks and natural disasters after the failure last year of FEMA to react to Hurricane Katrina.
- Japan’s Chief Cabinet Secretary Shinzo Abe said China’s negotiators should act quickly in trying to persuade North Korea to abandon its missile tests and return to six-party talks.
China Securities Journal:
- China may increase its benchmark interest rate, as it attempts to reduce liquidity and control investment growth, rather than allow the yuan to rise faster.
Chosun Ilbo:
- South Korea’s Defense Ministry plans to spend $159 billion over the next five years to bolster the country’s defense capabilities.
Late Buy/Sell Recommendations
- None of note
Night Trading
Asian Indices are -.25% to +.50% on average.
S&P 500 indicated +.06%.
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
- (AIR)/.30
- (CHAP)/1.77
- (CBSH)/.79
- (FAST)/.36
- (FOE)/.25
- (FLS)/.57
- (GCI)/1.31
- (GENZ)/.66
- (MTB)/1.82
- (RECN)/.31
- (VAS)/.25
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- The Trade Deficit for May is estimated to widen to -$64.9B from -$63.4B in April.
10:30 am EST
- Bloomberg consensus estimates for the EIA weekly energy inventory data call for a crude oil drawdown of 1,300,000 barrels. Gasoline supplies are expected to fall 250,000 barrels. Distillate inventories are expected to rise 1,600,000 barrels. Finally, Refinery Utilization is expected to rise .5%.
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and commodity stocks in the region. I expect US equities to open mixed and to rally modestly into the afternoon. The Portfolio is 100% net long heading into the day.
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