OVERNIGHT MARKETS AND NEWS
Jun E-mini S&Ps (ESM16 -0.21%)are down -0.15% as investors focus on the outcome of the Fed’s 2-day policy meeting that begins tomorrow. Also, a-1.92% decline in crude oil prices has undercut energy producing stocks. European stocks are up +0.92% as a weak euro boosts automakers and as strength in copper prices lifts mining stocks with Glencore Plc and Anglo American Plc both up at least 4.5%. European stocks also found support on signs of strength in manufacturing activity after Eurozone Jan industrial production rose at the fastest pace in over 6 years. Asian stocks settled higher: Japan +1.74%, Hong Kong +1.17%, China +1.75%, Taiwan +0.48%, Australia +0.37%, Singapore +0.64%, South Korea +0.07%, India +0.35%. The Nikkei Stock Index climbed to a 1-1/4 month high after Japan Jan machine orders jumped +15.0% m/m, the largest increase in 12 years.
The dollar index (DXY00 +0.30%) is up +0.34%. EUR/USD (^EURUSD) is down -0.36%. USD/JPY (^USDJPY) is down -0.16%.
Jun T-note prices (ZNM16 -0.05%) are up +0.5 of a tick.
Japan Jan machine orders jumped +15.0% m/m, stronger than expectations of +1.9% m/m and the largest monthly increase in 12 years.
China Feb industrial production rose +5.4% y/y, weaker than expectations of +5.6% y/y and the slowest pace of increase in nearly 7 years.
China Feb retail sales rose +10.2% y/y, weaker than expectations of +11.0% y/y and the slowest pace of increase in 12 years.
Eurozone Jan industrial production rose +2.1% m/m, stronger than expectations of +1.7% m/m and the biggest increase in 6-1/3 years.
U.S. STOCK PREVIEW
Key U.S. news today includes: none.
There is 1 of the Russell 1000 companies that reports earnings today: 3D Systems (consensus $0.03).
U.S. IPO’s scheduled to price today: BioLight Life Sciences (BOLT).
Equity conferences this week include: Citi Global Property CEO Conference on Mon-Wed, Bank of America Merrill Lynch Consumer & Retail Tech Conference on Tue-Wed, Barclays Emerging Payments Forum on Tue-Wed, Barclays Capital Global Health Care Conference on Tue-Thu,
3rd Annual Pharma Customer Experience Summit 2016 on Wed, Goldman Sachs Innovation Symposium on Wed, Bank of America Merrill Lynch Global Industrials & EU Autos Conference on Wed-Thu, Evercore ISI Retail Summit on Wed-Thu, ACI European Food & Beverage Plastic Packaging Conference on Thu, and Citigroup Retail Madness Conference on Thu.
