Bloomberg:
- Dragon Captial, Vietnam’s biggest fund manager, is betting government share sales will help slow Asia’s second-most-expensive stock market, which has slumped 11% since its March 12 peak. “Increasing supply is a rational and welcome way of cooling the market that would kill two birds with one stone,” said Bill Stoops, head of research at Ho Chi Minh city-based Dragon, which manages $2 billion in Vietnam. Dragon is selling to raise cash that will go back in stocks once valuations fall, he said.
- The US dollar is declining against the euro and yen on speculation tension between the US and China will escalate after Trade Representative Susan Schwab said the government today will file complaints to the WTO.
China Securities Journal:
- China should accelerate change to lift controls on its interest-rate system.
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (CTAS).
Night Trading
Asian Indices are -.50% to .50% on average.
S&P 500 indicated -.08%.
NASDAQ 100 indicated unch.
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
- (AA)/.78
- (BYI)/.04
- (ESIO)/.20
- (TSAI)/.31
- (ESIO)/.20
Upcoming Splits
- (FMCN) 2-for-1
- (GEF) 2-for-1
Economic Releases
- None of note
BOTTOM LINE: Asian indices are mixed as gains in steelmaking stocks are offsetting losses in energy shares in the region. I expect US equities to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 100% net long heading into the day.
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