Bloomberg:
- The US will pursue diplomacy to ease tensions with North Korea over a possible North Korean long-range missile test, the US State Dept. said.
- Emerging-market stock funds suffered withdrawals for a fifth straight week after investors pulled out a further $2 billion in the period ended June 21, according to Emerging Portfolio Fund Research.
AP:
- US authorities arrested seven people today in connection with a plot to attack Chicago’s Sears Tower and other buildings in the country.
Wall Street Journal Asia:
- Merrill Lynch(MER) has expanded its debt team by more than 40% since January to prepare for the Bank of Japan’s move to increase interest rates.
Digitimes:
- Advanced Micro Devices(AMD) will cut chip prices as much as 46% on July 24 in a “price war” with larger rival Intel Corp.(INTC).
Late Buy/Sell Recommendations
Business Week:
- Sealed Air(SEE), the maker of Bubble Wrap and Jiffy Mailer packaging products, could see its margins boosted as the company unveils a range of new products, citing Ghansham Panjabi, analyst at Wachovia Securities.
- Shares of Advanced Life Sciences Holdings(ADLS) may more than double in the next year, citing Lazard Capital Markets’ Matthew Osborne.
- Lowe’s(LOW) may rise as much as 64% because of the stock’s recent decline and the company’s increasing earnings, citing Piedmont Select Value Fund’s David Clark.
Night Trading
Asian Indices are -1.5% to -.50% on average.
S&P 500 indicated -.10%.
NASDAQ 100 indicated -.10%.
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
- None of note
Upcoming Splits
- (EXPD) 2-for-1
- (TROW) 2-for-1
- (FTO) 2-for-1
Economic Releases
8:30 am EST
- Durable Goods Orders for May are estimated to rise .4% versus a 4.4% decline in April.
- Durables Ex Transportation for May are estimated to rise .6% versus a 1.0% decline in April.
BOTTOM LINE: Asian indices are lower, weighed down by automaker and financial stocks in the region. I expect US equities to open modestly lower and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.
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