What you need to know before the bell Tuesday.
From Between the Hedges:
- The US Treasury is less likely to label China a currency manipulator in a report on exchange-rates that it may publish this week after the G-7 last month called for faster yuan gains, Bank of America said.
- Apple Computer (AAPL) has renewed contracts with Vivendi SA’s Universal Music Group, Warner Music Group, EMI Group and Sony BMG Music Entertainment to offer songs through its iTunes digital store for 99 cents each.
- Walt Disney (DIS) has agreed to distribute movies and consumer products in Vietnam as part of its global expansion drive.
- PricewaterhouseCoopers LLP, the world’s biggest accounting firm, wants a plan to harmonize US and international accounting standards to be abandoned.
- Acer Inc., the world’s fourth-biggest personal-computer maker, plans to sell flat-screen televisions worldwide within nine months as global PC growth slows.
Ming Pao Daily:
- Yanzhou Coal Mining Co. (YZC), China’s largest coal producer, plans to almost triple its annual production by 2010.
Late Buy/Sell Recommendations
- None of note
Asian Indices are +.25% to +.75% on average.
S&P 500 indicated +.09%.
NASDAQ 100 indicated +.25%.
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
10:00 am EST
- Pending Home Sales for March are estimated to fall .5% versus a .8% drop in February.
- Total Vehicle Sales for April are estimated to remain at 16.6M versus 16.6M in March.
- Domestic Vehicle Sales for April are estimated to rise to 13.3M versus 13.1M in March.
BOTTOM LINE: Asian indices are mostly higher, boosted by automaking stocks in the region. I expect US equities to open mixed and to trade modestly lower into the afternoon.