Weekend Headlines
Bloomberg:
- Commodities, heading for the first quarterly advance in a year, may struggle to repeat their gains in the next three months as supply expands and speculators sell. Nickel may average 29% less in the third quarter than now, crude oil 16%, copper 14% and gasoline 10%, analyst estimates compiled by Bloomberg show. Hedge funds and speculators cut their best on higher prices by 23% in the two weeks ended June 23, the first back-to-back drop since March. “Commodities have gotten a little ahead of themselves,” said Walter “Bucky” Hellwig, who helps oversee $30 billion at Morgan Asset Management in
- Strategists who came closest to predicting the US dollar’s value against the euro so far this year see it strengthening as much as 17% in the second half as the US recovers from the recession faster than Europe.
- LG Display Co., the world’s second-largest maker of liquid-crystal displays, rose 2.7 percent to 32,050 won, the highest since April 27. Eugene Investment & Securities Co. rated the stock “buy” with its 12-month share-price estimate of 40,000 won in a report today to initiate coverage of the stock. The second-quarter earnings will post a V-shaped recovery from the first, helped by a rise in shipments and panel prices, as well as lower production costs, the brokerage said.
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Wall Street Journal:
Barron’s:
NY Times:
San Francisco Chronicle:
NJ.com:
Rolling Stone:
InvestmentNews:
Financial Times:
Radio Television
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- Hewlett-Packard Co.(HPQ) will order more notebook computers than it had previously forecast from Quanta Computer Inc. and Inventec Co.. Hewlett-Packard increased its full-year estimate for shipments to 38 million notebooks from 34 million because of greater-than-expected demand in the second half of this year. Quanta will benefit from an increase in orders for consumer notebooks, while Inventec will be boosted by higher demand for corporate laptops.
Shana:
Weekend Recommendations
Barron's:
- Made positive comments on (WEN).
- Made negative comments on (HSIC) and (PDCO).
Night Trading
Asian indices are -.25% to +.50% on avg.
S&P 500 futures -.31%.
NASDAQ 100 futures -.24%.
Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Pre-market Stock Quote/Chart
Global Commentary
WSJ Intl Markets Performance
Commodity Futures
Top 25 Stories
Top 20 Business Stories
Today in IBD
In Play
Bond Ticker
Economic Preview/Calendar
Earnings Calendar
Who’s Speaking?
Upgrades/Downgrades
Rasmussen Business/Economy Polling
Earnings of Note
Company/Estimate
- (APOL)/1.12
- (HRB)/2.05
Upcoming Splits
- None of note
Economic Releases
- None of note
Other Potential Market Movers
- The Fed’s Rosengren speaking, Chicago Fed Nat Activity Index and the Dallas Fed Manufacturing Activity Index could also impact trading today.
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and consumer stocks in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the week.