Bloomberg:
- Investors should sell inflation-indexed bonds in Japan because consumer prices may fall for the first time in a year by June, JPMorgan Securities Japan Co. said.
- National Semi(NSM) cut its sales forecast for the third straight quarter after orders from Asia slowed.
- Shares of Baoshan Iron & Steel Co., China’s largest steelmaker, and other producers of the metal tumbled on speculation that China would further reduce tax incentives on exports, increasing domestic competition.
- Copper futures in Shanghai fell for a third day as concerns about losses at a metals-trading hedge fund continued to prompt selling. Red Kite, part of a $1 billion hedge fund run by RK Capital Management LLP, lost about 30% in January as metal prices plummeted.
Financial Times:
- China and the UN are working to establish a carbon trading exchange in Beijing, which may make the city a center for the multi billion dollar global trading in carbon credits, citing Khalid Malik, the UN’s top official in China.
- European carmakers will be told by the European Union on Feb. 7 that the car industry will have to cut carbon dioxide emissions to 130 grams a kilometer by 2012.
Economic Daily News:
- The Taiwan Stock Exchange may relax restrictions on short selling to boost trading volume.
Financial News:
- China must pay attention to “bubbles” in its stock market before they get out of hand, Cheng Siwei, vice chairman of the Nation’s People Congrees, wrote in a commentary.
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (NUAN), target raised to $16.
- Reiterated Buy on (ONNN), target $13.
- Reiterated Buy on (EQ), target $60.
Night Trading
Asian Indices are unch. to +.75% on average.
S&P 500 indicated -.03%.
NASDAQ 100 indicated -.04%.
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
Conference Calendar
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/EPS Estimate
- (ATW)/.68
- (ADP)/.51
- (AVP)/.38
- (BOW)/-.22
- (CELL)/.19
- (BOB)/.40
- (CBG)/.56
- (CAKE)/.24
- (CSCO)/.31
- (CSC)/.83
- (DUK)/.40
- (EMR)/.53
- (FMC)//1.18
- (IT)/.22
- (IACI)/./53
- (ISE)/.37
- (LPNT)/.62
- (LPX)/-.15
- (NBR)/1.00
- (NOV)/1.06
- (PNR)/.32
- (JOE)/.24
- (TZOO)/.28
- (TYC)/.44
- (VFC)/1.22
- (VSH)/.23
- (XL)/2.34
Upcoming Splits
- None of note
Economic Releases
None of note:
BOTTOM LINE: Asian indices are higher, boosted by technology and automaker shares in the region. I expect US equities to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
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