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Market Primer: Futures Higher On Strong Chinese Services Data

ByBenzinga
AuthorBenzinga
Published 04/03/2013, 08:22 AM
Updated 05/14/2017, 06:45 AM
Futures Higher On Strong Chinese Services Data


Top News

  • The Bank of Japan began its first policy meeting under its new leadership and Governor Kuroda is expected to launch new rounds of easing. Policy choices include abolishing the bank note rule, combining the asset purchase programs, and purchasing longer-dated JGB's in its programs.
  • Eurozone inflation slowed to 1.7 percent in March from 1.8 percent in February and was in line with expectations. The cooling inflation does give the European Central Bank room to ease tomorrow should it want to do so.
  • Reserve Bank of Australia chief Clenn Stevens was appointed to an additional three-year term at the bank following his successful time in his previous term.
  • S&P 500 futures rose 2.7 points to 1,567.10.
  • The EUR/USD was slightly higher at 1.2831.
  • Spanish 10-year government bond yields fell to 4.9 percent from 4.94 percent.
  • Italian 10-year government bond yields fell to 4.59 percent from 4.62 percent.
  • Gold fell 0.53 percent to $1,570.30 per ounce.
Asian Markets


European Markets


Commodities


Currencies
EUR/USD

Pre-Market Movers

  • Cliffs Natural Resources (CLF) shares rose 1.21 percent pre-market after analysts at J.P. Morgan released a note on the company indicating that shares could double in the next year. They rate the stock outperform.
  • General Mills (GIS) shares fell 0.84 percent pre-market in the wake of its downgrade at Morgan Stanley on Monday.
  • IBM (IBM) shares slipped 0.63 percent pre-market after the company won a new contract to build cloud computing systems for the Thai government owned telecom company CAT.
  • Caterpillar (CAT) shares fell 0.59 percent on fears that sales in China will slow as the manufacturing sector stagnates and also on fears that commodity prices are set to drop.
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Earnings

  • ConAgra Foods (CAG) is expected to report third quarter EPS of $0.57 vs. $0.51 a year ago.
  • Monsanto (MON) is expected to report second quarter EPS of $2.58 vs. $2.28 a year ago.
Economics


BY Matthew Kanterman

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