Bloomberg:
- SanDisk Corp.(SNDK) will replace Chiron Corp.(CHIR) in the S&P 500, S&P said.
- New Orleans may get $2.5 billion more to repair levees damaged by Hurricane Katrina, according to a federal official overseeing recovery efforts.
- Warren Buffett scored lowest in managing his own company’s pension assets, according to a study by consultant Milliman Inc.
- Tiger Woods apologized for using the term “spaz” to describe his putting during golf’s Masters Tournament, a remark that was criticized outside the US as insensitive.
- Americans want to maintain good economic relations with China and are less concerned about the near-record US trade deficit, according to a Bloomberg/LA Times Poll.
- Crude oil in New York fell for a second day after an Energy Dept. report showed US inventories rose to the highest in almost eight years.
China Securities Journal:
- China’s economy grew about 8.5% in the first quarter, slowing from 9.5% in the previous year, citing the investment dept. of the nation’s top economic planning body. For the year, the body expects China’s growth to slow to 7.5%.
BBC:
- At least 15,000 people in the New York area are being treated for illnesses stemming from the attacks on the World Trade Center in September 2001.
AP:
- A group of supporters of the Duke University lacrosse team hired President Bill Clinton’s former attorney as a spokesman in the wake of rape allegations against team members.
Nihon Keizai:
- Sony Corp.(SNE) may say its operating profit last business year was better than its most recent forecast, thanks to an increase in sales of liquid display televisions.
Late Buy/Sell Recommendations
Wachovia:
- Rated (LAD) Outperform.
Night Trading
Asian Indices are -.50% to +.25% on average.
S&P 500 indicated +.04%.
NASDAQ 100 indicated +.01%.
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
- (GE)/.39
- (HTLD)/.23
- (JBHT)/.31
- (MTG)/1.62
- (NYT)/.27
- (PII)/.26
- (RMBS)/.07
- (TRB)/.35
Upcoming Splits
- None of note
Economic Releases
8:30 am EST
- The Import Price Index for March is estimated to rise .2% versus a .5% fall in February.
- Advance Retail Sales for March are estimated to rise .4% versus a 1.4% decline in February.
- Retail Sales Less Autos for March are estimated to rise .5% versus a .6% decline in February.
- Initial Jobless Claims for last week are estimated to rise to 305K versus 299K the prior week.
- Continuing Claims are estimated to rise to 2450K versus 2440K prior.
9:45 am EST
- The preliminary Univ. of Mich. Consumer Confidence reading for April is estimated to rise to 89.0 versus a reading of 88.9 in March.
10:00 am EST
- Business Inventories for February are estimated to rise .3% versus a .4% gain in January.
BOTTOM LINE: Asian indices are mostly lower, weighed down by auto and financial stocks in the region. I expect US equities to open modestly lower and to trade modestly higher into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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