** US & ASIAN WRAP **

** US MARKETS **
Dow 0,08%; Nasdaq -0,42%; S&P -0,19%; Soxx -0,56%; Russel2k -0,02%; DJAIG
0,64%; 10yr Bond 0%; 10yr Yield 5,11%; Crude future 69,6; Gold 703,4

| Healthcare 0,38%| ConsStaples 0,3%| Energy 0,25%| Telecom 0,06%| Industrials
-0,02%| Financials -0,12%| Materials -0,2%| Utilities -0,41%| ConsDisc -0,79%|
Technology -1,04%

** US HEADLINES **
- Bernanke Embraces Greenspan Legacy of Opposition to HedgeFund Regulation
- General Electric Exceeds Its Own $20 Billion `Environmental’ Product Goals
- Treasuries May Rise as Consumer Prices Report to Support Rate Pause by Fed
- Dollar Drops Against Yen as Government Report May Show Inflation in Check
- Gold Surges Above $700 an Ounce as Funds Seek Hedge Against Weaker Dollar
- 0il Trades Below $70 as EU Prepares Plan to Resolve Iran Nuclear Dispute

** US AFTER HOURS **
- Hewlett-Packard (+3.5% after hours) posted 2Q/Apr EPS $0.54 ex-item ($0.49
expected) on revenue up 5% YoY to $22.6bln ($22.6bln). HP expects that 3Q
revenue will be approximately $21.75bln and FY revenue $91bln (inline with
consensus). 3Q EPS ex-item is seen at $0.45-0.48, FY EPS should reach
$2.04-2.08.

- Applied Materials (-3.3% after hours) announced 2Q/Apr EPS of $0.26, 3 cents
higher than the consensus, on sales up 20.8% YoY to $2.25bln. Expects 3Q sales
and orders to rise 5-10% from 2Q, EPS should reach $0.28-0.30.

** IN PLAY TODAY **
All eyes will be on the April CPI report (14:30 CET), which will provide
investors with the latest read on inflation at the consumer level. The EIAs
weekly oil inventories report at 16:30 ET should also garner some attention,
especially with the beginning of the summer driving season less than two weeks
away.

On the earnings front, retailers top the list again before the bell. Notable
names include Ross Stores (ROST), Talbots (TLB) and Zale (ZLC). After the close,
BEA Systems (BEAS), Foot Locker (FL), Intuit (INTU), Longs Drug (LDG), PETsMART
(PETM), and Gymboree (GYMB) are among the more recognizable companies reporting
quarterly results.

** ASIAN MARKETS **
Nikkei 0,92%; Kospi 1,39%; HSI 0,57%; Taiwan 0,66%; China 0,74%; India 1,88%;
Thailand 0,23%; Australia -0,03%

** ASIAN HEADLINES **
- Singapore Raises 2006 Growth Forecast After Economy Expands by 6.8 Percent
- Asian Stocks Snap SixDay Losing Streak; Canon, Hyundai Motor Lead Advance
- China’s Steelmakers Say ThyssenKrupp’s Price Agreement Won’t Set Benchmark
- Honda Plans to Spend $1.46 Billion to Expand in North America and Japan
- China’s Factory Production Growth Eases as Output of Cars and Cement Slows
- Investment in China Property, Roads, Factories Probably Rose 29.1 Percent
- Philippines Posts Biggest Budget Surplus in Nine Years as Spending Trimmed
- SINGAPORE’S 1Q GDP EXPANDS AT ANNUAL 6.8% PACE
- CHINA APRIL INDUSTRIAL OUTPUT RISES 16.6% FROM YEAR AGO