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Minyanville's Before the Bell: Japan, ECB, Goldman Conference


Bank of Japan and ECB inject more money! Goldman Funds down, holds conference call. Blackstone is back!


Stock futures are suggesting a higher opening this morning. S&P futures are trading +13.50 at 1464, Nasdaq futures are trading +17.75 at 1946.

Topping the headlines this morning, central banks around the world injected more money into the markets. The Bank of Japan decided to inject an additional $5.1 bln into the market with the ECB following with another $65 bln. The ECB later released a statement saying it noted "that market conditions are normalizing and that the supply of aggregate liquidity is ample." Please read Professor Depew's Five Things You Need To Know from Friday as he covers the Seven Signs of Credit Addiction.

In other news, Goldman Sachs (GS) is expected to release information of its Global Alpha fund today which is reported to be down 26% YTD. The firm will hold a conference call this morning to explain some of the funds losses.

Barclay's (BCS) is expected to release information of its 32 Capital Fund by tomorrow.

Blackstone (BX) reported better than expected results for its first quarter as a public company. Net income more than tripled as the private equity firm saw strength in all of its business lines.

Citigroup (C) is also making news as being one of the biggest casualties of the recent credit crunch as the firm has lost more than $700 mln in credit business in just the last few weeks. Please Read Toddo's Voice of Reasons to gain a better understanding of the current credit situation.

Below is a list of economic data to be released today:

  • 8:30 Retail Sales: 0.2%
  • 8:30 Retail Sales ex-auto: 0.3%
  • 10:00 Business Inventories: 0.4%

Click here to see our full Trading Radar for more catalysts for the week. See Minyanville's Spotlight Stocks also for some more company-specific ideas.

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No positions in stocks mentioned.

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