Market movers today
Focus will continue to be on the geopolitical developments in Ukraine. In addition, the Q1 reporting season speeds up with among others Intel Corporation (NASDAQ:INTC), Yahoo! Inc (NASDAQ:YHOO), Coca-Cola Company (NYSE:KO) and Johnson & Johnson (NYSE:JNJ) scheduled to release Q1 earnings today.
In the data calendar focus will continue to be on the strength of the weather-related rebound. Here the most interesting piece of information is the NAHB housing market index for April that will give us an idea of the strength of the US housing market. There was only a modest rebound in March to 47 and according to consensus it is expected to increase to 50 in April. However, the NAHB peaked at 57 in December, so a rebound in line with consensus will still suggest that there is more to the softer housing market than just bad weather.
In the US March consumer prices are due for release today and in Europe attention will be on ZEW economic sentiment in Germany and March consumer prices in the UK.
In the US we have speeches from several FOMC members including Fed chairwoman Jannet Yellen at 14:45 CET. Yellen's speech is just a brief opening remark to a conference in Atlanta without a Q&A. Yellen will get a much better opportunity to communicate with financial markets in connection with her speech tomorrow for the Economic Club of New York.
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