Bloomberg:
- The UN Security Council may vote by the end of the week to ban loans by governments to Iran and bar the Islamic Republic from selling heavy weapons, the US envoy to the world body said.
- Santos Ltd., Australia’s third-biggest oil producer, said it’s preparing to resume production at the $346 million Mutineer-Exeter oil field off the northwestern coast after two tropical cyclones.
- Brazil’s sugar and ethanol industry has drawn $14 billion of investments for 80 new mills as demand grows for crop-based fuels, producer Maurilio Biagi Filho said.
- OPEC will probably refrain from lowering output at a meeting this week as mounting global tensions with Iran bolster prices.
- Asian real estate offers better value than property stocks because the region’s equity markets are still “vulnerable,” said Marc Faber, who oversees $300 million in assets at Hong Kong-based Marc Faber Ltd.
- Host Hotels & Resorts(HST), the owner of 124 hotels including Marriotts, Hyatts and Westins, will replace Phelps Dodge(PD) in the S&P 500 Index.
CNet News.com:
- Microsoft Corp.(MSFT) is close to buying Tellme Networks Inc., a maker of voice-recognition software for telecom companies.
AP:
- Hyundai Motor plans to invest $270 million to build an engine plant in Montgomery, Alabama. The plant will create 520 jobs.
- Texas Governor Rick Perry set a special election for May 12 for state residents to decide whether to approve a constitutional amendment, supported by the governor, to lower taxes. The measure would extend property-tax reductions for elderly and disabled Texans
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (ODP), target $54.
- Reiterated Buy on (DVA), target $68.
- Reiterated Buy on (TXN), target $36.
Night Trading
Asian Indices are -.25% to +.50% on average.
S&P 500 indicated +.01%.
NASDAQ 100 indicated -.03%.
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
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Rasmussen Consumer/Investor Daily Indices
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Earnings of Note
Company/EPS Estimate
- (DKS)/1.14
- (GS)/4.98
- (GYMB)/.72
- (HANS)/.34
- (JCG)/.29
- (KR)/.45
Upcoming Splits
- (WCN) 3-for-2
Economic Releases
8:30 am EST
- Advance Retail Sales for February are estimated to rise .3% versus unch. in January.
- Retail Sales Less Autos for February are estimated to rise .3% versus a .35 gain in January.
10:00 am EST
- Business Inventories for January are estimated to rise .2% versus unch. in December.
BOTTOM LINE: Asian indices are slightly lower, weighed down by automaker and technology 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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