Bloomberg:
- US stock index futures rose on Friday after employers added 180,000 jobs last month and the jobless rate unexpectedly fell, bolstering speculation that consumer spending will keep the economy growing. Moreover, sales at US wholesalers increased faster than inventories during February, which may set the stage for a rebound in manufacturing in coming months. The US Dollar Index rose .4% and the 10-year yield gained 7 basis points on Friday’s reports.
- The US war in Iraq is showing signs of progress and the Bush administration’s new strategy should be given a chance to succeed, Republican presidential contender Senator John McCain said.
- Senate Armed Services Committee Chairman Carl Levin said Democrats may be ready to compromise in the showdown with President Bush over linking funding for US troops in Iraq with a deadline for withdrawal.
- Mitsui & Co., Japan’s second-largest trading company, and Norwegian utility Statkraft AS are considering building hydropower plants in Russia as the country prepares a law to support alternative energy.
- Achuthan, of the Economic Cycle Research Institute(ECRI) says the US economy is turning up. (video)
- Emerging-market investors, anticipating the smallest gains in stocks of developing nations since 2003, are snapping up shares that pay dividends.
- A federal judge barred Vonage Holdings(VG) from signing up new customers while it appeals a ruling that it infringed three Verizon Communications(VZ) patents.
- Google Inc.(GOOG) settled a lawsuit filed by Agence France-Presse and signed an agreement to post content from the news service on its site.
- Russia, the world’s biggest energy supplier, will back an Iranian plan to improve cooperation among gas producers at an industry meeting in Qatar next week, Energy Minister Viktor Khristenko said. Russia won’t, though, sign an accord creating a cartel or “gas OPEC,” Khristenko said.
- The US may file a complaint at the World Trade Organization as early as next week over what it calls China’s piracy of copyrighted movies and books, according to four people briefed by the Bush administration.
- Sir Richard Branson’s plans to launch a space-tourism venture in rural New Mexico has won the thumbs-up from voters in Dona Ana Country, who approved a $130 million tax to help pay for a futuristic local “spaceport.”
- The 15 UK sailors and marines who were held hostage in Iran for 13 days said today they were kept in solitary confinement for much of the time. While they were subjected to “psychological pressure” and “mind games,” none of them were physically harmed, said Captain Christopher Air of the Royal Marines.
- Lockheed Martin Corp.(LMT) and three others will split US Navy awards together valued at as much as $500 million to provide antiterrorism equipment that will protect naval bases.
- Warren Buffett’s Berkshire Hathaway(BRK/A) has acquired a 10.9% stake in Burlington Northern(BNI), according to SEC filings, making the billionaire’s company the largest holder in the railroad.
- Zach Johnson shot a 3-under-par 69 in the final round to win golf’s Masters Tournament.
- Drugs that treat Parkinson’s disease may slow or stop deadly brain tumors, according to a genetic study of stem cells that fuel the cancer's growth.
Wall Street Journal:
- Private equity firms are interested in Kroger Co.(KR), the biggest US supermarket chain
- Illinois Tool Works(ITW) has turned managers of its business units into acquisition specialists to help counter a takeover slump.
- China’s government disclosed new rules regulating organ transplants that say such donations must be voluntary and approved by physicians.
NY Times:
- Florida’s clemency board will allow most non-violent felons to automatically regain their right to vote after being released from prison.
LA Times:
- Californian authorities have seized more than $100 million worth of marijuana grown indoors in the past year, with plants increasingly being found in middle- and upper-class suburban homes.
Forbes:
- Akamai(AKAM) seemed destined to become another casualty of the dot-com calamity. But six years later it has made and audacious comeback.
AP:
- The US Federal Trade Commission’s Do Not Call registry grew by 25 million phone numbers in the fiscal year ending in September, a 23% increase over the previous 12 months.
- Walt Disney Co.(DIS), the world’s largest theme-park operator, will allow gay couples to hold marriage ceremonies at its theme parks and on its cruise-line ships. Disney had previously only allowed couples with valid marriage licenses to participate in its Fairy Tale Wedding program.
Inside MBS & ABS:
- Fannie Mae(FNM) and Freddie Mac(FRE), the largest packagers of home loans into securities, last quarter hard their greatest share of US mortgage-backed bond issuance since 2004.
Sunday Express:
- US buyout firms and Middle Eastern investors are preparing a bid of at least $50 billion for Dow Chemical(DOW) that may be made by the end of this week. The offer may be made between $52 and $58 a share.
London-based Times:
- Lee Iacocca, the former chairman of DaimlerChrysler AG’s(DCX) Chrysler unit, is backing Kirk Kerkorian’s $4.5 billion bid for the carmaker.
Daily Telegraph:
- Royal Dutch Shell Plc may risk angering the US government and the UK public after the British sailors’ hostage standoff should it continue with a study on potential investment in Iran.
Frankfurter Allgemeine Sonntagszeitung:
- Germany’s renewable energy sector will generate more sales and employ more people than the automotive and machine building industries in the future, citing a study by consultant company Roland Berger.
Bild-Zeitung:
- Car dealers in German will have to show customers a “climate pass” that indicates the environmental friendliness of the vehicles they sell, citing Transport Minister Wolfgang Tiefensee.
Financial Times Deutschland:
- The International Monetary Fund will lower its 2007 forecast for US economic growth this year to 2.2% from 2.9%, citing a draft version of the fund’s semiannual World Economic Outlook. The IMF expects global growth to fall to 4.9% this year from 5.3% last year.
Commercial Times:
- Intel Corp.(INTC) will license its chipset technology to Taiwanese chipmaker Via Technologies Inc.
Yomiuri:
- China will express its intention to participate actively in negotiations to reduce greenhouse gas emissions from 2013 in a joint statement after the Japan-China summit next week.
Tehran Times:
- Trade between Iran and China will rise 14% to $16 billion this year, citing the chairman of the Iran-China Chamber of Commerce.
Gulf Daily News:
- Japan may provide a $700 million loan to Iraq for the reconstruction of the country's crude oil production and power transmission facilities.
Weekend Recommendations
Barron's:
- Made positive comments on (PETM), (SCUR) and (GCI).
Citigroup:
- Reiterated Buy on (WMB), target $35.
Night Trading
Asian indices are +.50% to +1.0% on average.
S&P 500 indicated +.35%.
NASDAQ 100 indicated +.55%.
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/Estimate
- (CAE)/.76
- (DLP)/.29
- (LI)/.42
Upcoming Splits
- (CMI) 2-for-1
- (FMCN) 2-for-1
Economic Releases
- None of note
BOTTOM LINE: Asian Indices are mostly higher, boosted by automaker and technology shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the week.
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