Bloomberg:
- Japan's government said it will allow oil drilling in an area of the East China Sea claimed by China, a decision that may escalate tension between the nations amid anti-Japanese rioting in Beijing and other Chinese cities.
- Crude oil is falling to a six-week low in NY, the seventh drop in eight days, after the IEA reduced its forecast for world fuel demand.
Wall Street Journal:
- A new Goldman Sachs Group private-equity fund worth $8.5 billion that's expected to be announced today will be a challenge for the US securities firm to pursue buyouts without offending clients who rely on it for advice.
Financial Times:
- Tensions between China and Japan, sparked by new Japanese textbooks about its colonial history, may delay United Nations plans to enlarge the Security Council.
Reuters:
- SAP AG, the world's largest maker of business-management software, may increase its partnerships with small software companies to broaden its product base.
AP:
- Merck asked a judge in Alabama to dismiss the first scheduled trail over Vioxx.
- Anheuser-Busch, the world's largest beermaker and the No.1 US buyer of rice, says it will boycott rice grown in Missouri if plans go forward to plant a genetically modified version of the grain intended to be used to produce drugs.
NY Times:
- Israeli Prime Minister Ariel Sharon told President Bush on April 11 that Iran is near "a point of no return" in learning how to develop a nuclear weapon.
Washington Post:
- Insurgent attacks in Mosul, Iraq, have declined by almost half since mid-November of last year.
- The US House of Representatives probably will approve today a permanent repeal of estate taxes in response to popular demand.
Mainichi:
- Apple Computer plans to start an online music store in Japan this year.
Business Standard:
- Boeing expects India to buy planes worth $35 billion over the next 20 years.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on ACN, BC and MDT.
- Reiterated Attractive view of Lodging sector.
Night Trading
Asian Indices are -.25% to +.75% on average.
S&P 500 indicated unch.
NASDAQ 100 indicated -.07%.
Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Before the Bell CNBC Video(bottom right)
Asian Indices
European Indices
Top 20 Business Stories
In Play
Bond Ticker
Analyst Actions
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/EPS Estimate
AMD/.02
AAPL/.24
BBT/.75
CBH/.45
FAST/.49
HDI/.76
IFIN/.56
LRCX/.43
MOGN/.16
Splits
TTC 2-for-1
UCBH 2-for-1
Economic Releases
8:30 EST
- Advance Retail Sales for March are estimated to rise .8% versus a .4% increase in February.
- Retail Sales Less Autos for March are estimated to rise .5% versus a .4% gain in February.
BOTTOM LINE: Asian indices are mostly higher on optimism over the rebound in US stocks and declining energy prices. I expect US equities to open modestly higher on a continuation of today's rally and lower energy prices. The Portfolio is 100% net long heading into tomorrow.
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