HedgeFundLIVE.com — Morning Notes
- Muted tone in overnight and the future continue to trade in a tight range this morning
- Mixed action in Asia with Nikkei closing up 50bps while Shanghai Comp closed down 90bps
- In Europe, German Retail Sales came in worse than expected
- Eurozone CPI came in higher than expected
- Euro printed new highs following CPI release
- German Unemployment Rate came in better than expected
- Initial Jobless Claims: 388K vs. 380K; prior revised up to 394K from 382K
- Continuing Claims drop to 3.714M from 3.765M
- Only minor minor pullback following claims number- may not even be a result of the claims figure
- Update on Libya: foreign minister Moussa Koussa has defected to Britain; NATO taken sole command of no fly op; CIA in Libya now interacting w/ rebel forces to gather intelligence and better understanding of the politics there
- Euro weakening, suggesting ECB will not reveal plans for liquidity facility to aid Irish banks in conjunction w/ release of stress test results
- S&P futures are down about 2.25 handles from FV ahead of open
- Market’s Q1 performance is the best since 1998, up over 5%
- Slew of economic data releases scheduled for today: March Chicago PMI at 9:45a ET; February Factory Orders at 10a
- Also, Fed Speeches throughout the day
Recent Comments