From Between the Hedges:
- Legg Mason (LM) will replace Guidant Corp. (GDT) in the S&P 500, S&P said.
- China made several concessions to US demands today, agreeing to start the process to lift its ban on US beef imports, open up its mobile phone and medical devices market and crack down on software and music piracy.
- The cost to lease an oil tanker in the Persian Gulf may drop in the next three months because of an expanded fleet and reduced demand.
Wall Street Journal:
- Steelmakers such as Mittal Steel, the world’s largest producer, are opposed to the London Metal Exchange’s plan to create steel futures.
Late Buy/Sell Recommendations
- None of note
Asian Indices are -.75% to unch. on average.
S&P 500 indicated +.04%.
NASDAQ 100 indicated -.04%.
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 Trade Deficit for February is estimated to shrink to -$67.5 billion versus -$68.5 billion in January.
10:30 am EST
- Bloomberg consensus estimates call for a weekly crude build of 1,200,000 barrels. Gasoline inventories are estimated to fall 2,100,000 barrels, and distillate supplies are expected to decrease by 1,550,000 barrels. Refinery utilization is expected to rise .55%.
2:00 pm EST
- The Monthly Budget Deficit for March is estimated to widen to -$82.1 billion versus -$71.2 billion in February.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and commodity stocks in the region. I expect US equities to open modestly lower and to trade modestly higher into the afternoon, finishing mixed.