Bloomberg:
- Delays at the California ports of Los Angeles and Long Beach, adjacent harbors that form the busiest shipping point in the US, won't be as long as last year's waits, shipping companies and terminal operators said.
- Australia's dollar may end a three-year rally on concern exports will fall because a drought threatens 45% of the country's farmland this year.
- Shanghai's government, moving to avert summer blackouts that forced thousands of companies to slash production last year, asked factory owners to plan shutdowns and may also raise power prices.
- Acer Inc., the world's fifth-largest seller of PCs, said it expects sales to grow about 40-50% this year and next, fueled in part by market share gains from IBM.
- JPMorgan Chase agreed to pay investors $2.2 billion to resolve claims it helped Enron inflate revenue by hiding debt, in the largest fraud settlement by the company's investment bankers.
- China's industrial production grew at the fastest pace in three months, suggesting the government will further tighten investment curbs.
Dow Jones Newswires:
- Motorola plans to introduce 20 new high-speed mobile data handsets this year.
Guardian:
- Napster Inc., the online music service, will announce a worldwide joint venture with Ericsson AB for music downloads, citing Ericsson's vice-president of global services.
Nihon Keizai:
- AOC Holdings will sign an agreement today with Iraq's oil ministry to work on upgrading crude oil export infrastructure and cooperate on oil field surveys.
China Business News:
- DuPont may invest $1 billion to build a titanium dioxide plant in China's eastern province of Shandong.
The Beijing News:
- Qingdao Haier is reviewing Maytag's financial statements with a bank from Shandong province, as part of its plan to bid for the US appliance maker.
Asian Wall Street Journal:
- China will soon announce a new quota-allocation system for garment exports to curb growth in shipments.
Late Buy/Sell Recommendations
Goldman Sachs:
- Reiterated Outperform on AVP, TRI, PRXL, HCA, CVD, EBAY and CL.
Night Trading
Asian Indices are +.25% to +.50% on average.
S&P 500 indicated -.06%.
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
Daily Stock Events
Macro Calls
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
Company/EPS Estimate
BSC/2.37
TOM/.24
Upcoming Splits
CBL 2-for-1
HORC 2-for-1
ORLY 2-for-1
Economic Releases
8:30 EST:
- The Consumer Price Index for May is estimated to remain unchanged versus a .5% increase in April. The CPI Ex Food & Energy for May is estimated to rise .2% versus a .5% increase in April.
- Business Inventories for April are estimated to rise .4% versus a .4% increase in March.
- Empire Manufacturing for June is estimated at 1.0 versus a reading of -11.1.
9:00 EST:
- Net Foreign Security Purchases for April is estimated at $68.0B versus $45.7B in March.
9:15 EST:
- Industrial Production for May is estimated to rise .2% versus a .2% decline in April.
- Capacity Utilization for May is estimated to rise to 79.3% versus 79.2% in April.
1:00 EST:
- The NAHB Housing Market Index for June is estimated to rise to 71 versus a reading of 70 in May.
2:00 EST:
- Fed's Beige Book
BOTTOM LINE: Asian indices are mostly higher, led by exporters in the region on optimism over sales to the US. I expect US equities to open modestly higher on better-than-expected inflation data. The Portfolio is 100% net long heading into the day.
No comments:
Post a Comment