STI          3,444      -10     -0.30%
DOW      15,388    +53     +0.34%
S&P         1,669      +3       +0.16%
FTSE        6,804      +48     +0.72%
DAX         8,472      +16      +0.19%
GOLD       1,375     -3          -0.19%
OIL           95.81      -0.90     -0.93%
PRE-HK OPEN   +34pts
 
CREDIT SUISSE GLOBAL RISK APPETITE (EQUITY):  -0.93 (20 May 2013)
CREDIT SUISSE GLOBAL RISK APPETITE                :   4.61 (20 May 2013)
 
WSJ Blog: Morning MoneyBeat Asia: U.S. Stocks Levitate Again on Can't-Lose Tuesday
 
Market Snap: At the New York Close: SP 500 down 0.17% at 1669. DJIA down 0.34% at 15388. Nasdaq Comp down 0.16% at 3502 Treasury yields down 10-year at 1.94%. Nymex crude up 0.93% at $95.81. Gold up 0.5% at $1,376/ounce.
How We Got Here: Until some central banker somewhere says the wrong thing (by accident or on purpose), there seems to be little incentive for U.S. stocks to decline in any meaningful way. DJIA notches its 19th straight Tuesday gain, led by rallies in Home Depot, Merck Chevron and IBM. Those four alone contributed more than 90% of the Dow's advance.
What You Missed Overnight
Stocks Celebrate Another Tuesday: Shares carried on in their winning ways Tuesday, as investors cheered signals the Federal Reserve remains far from winding down its bond purchases and a bullish stock-market outlook from Goldman Sachs
Dimon Wins, Tightens Grip at J.P. Morgan: J.P. Morgan boss James Dimon strengthened his grip on the bank as shareholders voted overwhelmingly against a proposal to split the chairman and chief executive roles he holds.
Apple CEO Calls for Corporate Tax Reform: Tim Cook challenged Senate investigators who reported Apple paid no corporate income tax on tens of billions of dollars in overseas income over the past four years and urged reforms.
SoftBank Plans Bond for Sprint Bid: SoftBank plans to raise $3.9 billion via a record bond issuance in June, as Sprint Nextel weighs the Japanese carrier's $20.1 billion offer against a rival $25.5 billion bid from Dish Network.
Investors Target Logistics Property in China: Industrial real estate is often seen as the least glamorous slice of the property sector, but investors are increasingly looking at China's warehouses as a good place to park their money as their sexier cousins lose some of their allure.
Mining-Service Firms Face Hard Times in Australia: Power generators, engineering firms and other companies that service mining operations in Australia are forecasting weaker earnings as the mining boom slows.
China Tightens Rules on Bond Issuance: Chinese regulators took measures to better control the country's booming debt market and prevent outsize gains by underwriters selling bonds.
Yields Rise Again in Japan: Yields on Japanese government bonds rose Tuesday, a day before the central bank's policy board wraps up a monthly meeting, where it will almost certainly be focusing on how to tame turbulence in the government-debt market.
Green Light for DBS in Indonesia: After waiting a year, Singapore's DBS Group Holdings received final approval to buy a 40% stake in Indonesian lender Bank Danamon, perhaps leading to the biggest deal in Indonesian history.
For Dimon, the Hard Part Now Begins: Jamie Dimon's resounding victory is just the beginning.
Dealpolitik -- Self-Proclaimed Corporate Governance Experts Trounced at J.P. Morgan: Self-proclaimed corporate governance experts like ISS and Glass Lewis took a well-deserved trouncing at Tuesday's annual meeting of the J.P. Morgan shareholders.
Beware of the Covenant Bubble: Default rates aren't likely to rise tomorrow, next month or even next year, but when they do, loan investors are going to have fewer protections, and potentially lower recoveries.
Saks Jumps on Report it May be Up for Sale: The luxury-department stores may be the hottest item on the market.
Credit Suisse on LNG Export Expectations --Wow: Soon after the Obama administration gave the green light to a second project to export natural gas in liquefied form, market watchers scrambled to predict how much gas might be sent overseas, and what it might mean for prices.
Emerging-Market Equities Turnaround in Sight: There might be "light at the end of the tunnel" for investors still waiting for a turnaround in emerging-market equities, J.P. Morgan Asset Management says. New Jet Order Lifts Embraer Shares. Flying Too High? Shares of Brazilian aircraft maker Embraer SA took off on news that U.S. regional carrier SkyWest may purchase up to $8.3 billion planes if all the orders are confirmed.