Bloomberg:
- Crude oil is falling .40/bbl. in NY on signs Iran may step back from a confrontation with the UK over its detention of British naval personnel.
- Research published in the Journal of Clinical Oncology found that deaths caused by estrogen-fueled breast cancer, the most common and treatable form, fell 38% among women younger than 70 since 1990. For older women, the decrease was 14% over that period.
- Fremont General(FMT) said Grant Thornton LLP is resigning as its auditor.
- China is planning to order $12.5 billion of US-made goods before a visit by Chinese trade officials to Washington next month. China may buy $10 billion of machinery and electronics, $2 billion of soy beans and $500 million of cotton from US companies.
- Devon Energy Corp.(DVN) plans to drill seven new well at the Panyu field in the western South China Sea this year.
- The University of Florida beat Ohio State 84-75 to become the first school in 15 years to repeat as college basketball’s national champion.
Wall Street Journal:
- Marshall & Ilsley Corp.(MI), a Milwaukee bank, and private-equity firm Warburg Pincus LLC are considering a $4 billion spin-off of the bank’s Metavante payment processing
London-based Times:
- Google Inc.(GOOG) will say it has signed an advertising agreement with EchoStar Communications(DISH). Television advertisers will be allowed to bid for ad slots online and track the campaign’s performance in real time.
Economic Times:
- India is asking hedge funds seeking to invest in the country to lock in their investments fro two years to avoid a sudden outflow of capital under adverse conditions.
Yomiuri:
- China plans to develop the ability to destroy US, Indian and Japanese satellites orbiting above its territory by 2020.
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (AIZ), target $62.
Morgan Stanley:
- Reiterated Underweight on (PTEN), target $23.
Night Trading
Asian Indices are +.50% to +1.0% on average.
S&P 500 indicated +.07%.
NASDAQ 100 indicated +.06%.
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
- (ISCA)/.74
- (OXM)/.66
- (SHFL)/.07
Upcoming Splits
- None of note
Economic Releases
10:00 am EST
- Pending Home Sales for February are estimated to fall -.5% versus a -4.1% decline in January.
Afternoon:
- Total Vehicle Sales for March are estimated at 16.5M versus 16.6M in February.
- Domestic Vehicle Sales for March are estimated at 12.7M versus 12.8M in February.
BOTTOM LINE: Asian indices are higher, boosted by financial 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 75% net long heading into the day.
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