From Between the Hedges:
- Former NYSE members sold $1.54 billion NYSE Group(NYX) shares that they received when the exchange merged with Archipelago Holdings.
Wall Street Journal:
- Seizures of farmland by the Chinese government are increasing, driven by demand for profit amid the nation’s economic boom.
- Empty retail floor space in the UK is at “recession” levels, citing the Royal Institution of Chartered Surveyors.
- Time Warner’s(TWX) AOL has hired Citigroup Inc. to advise on the sale of its Internet access units in France and Germany.
- Phelps Dodge(PD), a copper producer, could rise on growing demand for the metal in industrializing regions like Brazil, India, Eastern Europe and China, citing Arnold Schmeidler of AR Schmeidler.
- Some small US colleges such as Yeshiva Univ. in NYC are taking a cue from Harvard and Yale universities and investing their endowments in hedge funds.
- The shares of Morton’s Restaurant Group(MRT), a steakhouse chain, are cheap, citing Aimee Marcel of Jeffries Group.
Late Buy/Sell Recommendations
- None of note
Asian Indices are -.25% to +.75% on average.
S&P 500 indicated -.02%.
NASDAQ 100 indicated +.03%.
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
- None of note
8:30 am EST
- The Change in Non-farm Payrolls for April is estimated at 200K versus 211K in March.
- The Change in Manufacturing Payrolls for April is estimated at 0K versus -5K in March.
- The Unemployment Rate for April is estimated at 4.7% versus 4.7% in March.
- Average Hourly Earnings for April are estimated to rise .3% versus a .2% gain in March.
3:00 pm EST
- Consumer Credit for March is estimated to rise to $4.1B versus $3.3B in February.
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and mining stocks in the region. I expect US equities to open mixed and to trade modestly higher into the afternoon.