Bloomberg:
- China’s securities regulator has barred publicly traded companies from using their stock-sale proceeds to invest in initial public offerings or buying other stocks, in a move to curb an overheating market.
- Temperatures will be higher than normal everywhere in the US except along the Pacific Coast from April through June, forecasters at WSI Corp. said.
- Cnooc Ltd., China’s biggest offshore oil producer, made a new discovery in Bohai Bay as it intensifies efforts to explore for oil and gas to meet the nation’s rising energy demand.
- Goldman Sachs Group(GS) said it joined a group of private equity investors who want to invest $3.4 billion in bankrupt auto-parts maker Delphi Corp.
- The yen is falling to a two-week low against he euro on speculation Bank of Japan policy makers last today will signal they are in no hurry to raise interest rates.
AP:
- Dozens of demonstrators and police officers were injured in clashes in Kolkata in eastern India when protesters marched on government offices over the deaths of 14 farmers last week. The farmers died last week in clashes over plans to turn their land into an industrial zone.
Nation:
- Businesses in Thailand expect economic growth to slow this year to less than 4% because of politics and eroding confidence.
Economic Daily:
- AU Optronics(AUO) won orders to supply liquid-crystal displays measuring 46 inches in diameter to Samsung Electronics.
- India’s government may give cement producers tax incentives to rein in the building material’s price and control inflation.
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (ABK), target $103.
Night Trading
Asian Indices are unch. to +.75% on average.
S&P 500 indicated unch.
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
Conference Calendar
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/EPS Estimate
- (ADBE)/.29
- (CHAP)/1.23
- (CTAS)/.51
- (CMC)/.65
- (DRI)/.70
- (FDS)/.49
- (ORCL)/.22
- (SHFL)/.07
- (SONC)/.14
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- Housing Starts for February are estimated to rise to 1450K versus 1408K in January.
- Building Permits for February are estimated to fall to 1550K versus 1568K in January.
BOTTOM LINE: Asian indices are higher, boosted 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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