From Between the Hedges:
- Crude oil is falling a second day in NY after US supplies approached 9 year highs and gasoline demand stagnated.
- Harrah’s Entertainment(HET), one of four bidders for Singapore’s first casino, said it’s betting on “star” partners such as director James Cameron in its proposal to help bring more than 10,000 visitors a day to the project.
South China Morning Post:
- About 60% of newly constructed houses in Beijing remained unsold at the end of April.
Late Buy/Sell Recommendations
- Rated THI Outperform.
Asian Indices are -.50% to +1.0% on average.
S&P 500 indicated unch.
NASDAQ 100 indicated unch.
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Before the Bell CNBC Video(bottom right)
Top 20 Business Stories
Daily Stock Events
Rasmussen Consumer/Investor Daily Indices
CNBC Guest Schedule
Earnings of Note
- None of note
8:30 am EST
- Preliminary 1Q Non-farm Productivity is estimated to rise 3.0% versus a .5% decline in 4Q.
- Preliminary 1Q Unit Labor Costs are estimated to rise 1.2% versus a 3.3% gain in 4Q.
- Initial Jobless Claims for last week are estimated to fall to 310K versus 315K the prior week.
- Continuing Claims are estimated to rise to 2450K versus 2449K prior.
BOTTOM LINE: Asian indices are mixed as strength in technology stock is being offset by weakness in commodity stocks in the region. I expect US equities to open mixed and to trade modestly higher into the afternoon.