OVERNIGHT MARKETS AND NEWS

Jun E-mini S&Ps (ESM16 -0.33%) are down -0.40% and European stocks are down -0.65% after at least 28 people were killed in bombing attacks in Brussels’ airport and a Maelbeek metro station. Losses in travel-related stocks are leading the overall markets lower with Carnival Corp., American Airlines, Expedia and Priceline Group all down at least 1% in pre-market trading. Flights in and out of Brussels were canceled and security precautions were stepped up at travel hubs throughout Europe. Gold and government bond prices are higher on increased safe-haven demand. Losses in European stocks were limited after the Eurozone Mar composite PMI rose more than expected and after German Mar IFO business confidence came in stronger than expected. Asian stocks settled mixed: Japan +1.94%, Hong Kong -0.08%, China -0.64%, Taiwan -0.31%, Australia -0.32%, Singapore unch, South Korea +0.46%, India +0.18%.

The dollar index (DXY00 +0.33%) is up +0.27%. EUR/USD (^EURUSD) is down -0.24%. USD/JPY (^USDJPY) is down -0.23%.

Jun T-note prices (ZNM16 +0.11%) are up +5 ticks.

The German Mar Markit/BME manufacturing PMI unexpectedly fell -0.1 to 50.4, weaker than expectations of +0.3 to 50.8 and the slowest pace of expansion in 16 months.

The German Mar ZEW survey expectations of economic growth rose +3.3 to 4.3, weaker than expectations of +4.4 to 5.4.

The German Mar IFO business climate rose +1.0 to 106.7, stronger than expectations of +0.3 to 106.0.

The Mar Markit composite PMI rose +0.7 to 53.7, stronger than expectations of no change at 53.0.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Jan FHFA house price index (expected +0.5%, Dec +0.4% m/m), (2) Markit preliminary-Mar U.S. manufacturing PMI (expected +0.6 to 51.9, Feb -1.1 to 51.3), (3) Mar Richmond Fed manufacturing index (expected +4 to 0, Feb -6 to -4), (4) Chicago Fed President Charles Evans’ speech at the City Club of Chicago, and (5) Philadelphia Fed President Patrick Harker’s speech at a Money Marketeers dinner in New York.