Stock index futures are ahead marginally following yesterday's positive start to the quarter. Equities got off to a solid start on the back of higher than expected Auto Sales despite lackluster Manufacturing data. Investors are betting on a rebound in the economy after struggling through a rough winter. Market-watchers will now focus on the Jobs data this week. The CBOE Volatility Index (VIX) fell again yesterday as stocks were bid up throughout the session. The Nasdaq and small caps led gains yesterday but the S&P 500 Index (SPX) set another all-time high, which was its seventh of the year.The Dow Jones Industrials were up with other major indices and have averaged a gain of over 2% for the month of April over the last 20 years.
Bonds are lower and longer-term issues continue to show greater weakness this week. The 10-year yield may test the 2.8% level today but dovish comments from Yellen could come back into play at any point. Europe's mixed, with the periphery showing moderate losses, and the Nikkei led Asia higher overnight with a 1% gain. Even sluggish Chinese manufacturing PMI readings are looked upon favorably, as it's thought to increase the chances that the government will introduce fresh stimulus to stabilize growth. Markets are also looking forward to an ECB meeting tomorrow, when the bank could ease policy further to combat deflationary risks which have been mounting. Watch the ADP jobs data this morning for clues on the employment report on Friday morning.
Stock Stories:
General Motors (GM) –Grilled – CEO Mary Barra took on the expected barrage of testy questions from a House panel yesterday, but disclosed very little new information on the delayed recall over faulty ignition switches. Much of the testimony was apologetic in nature. The company did hire attorney Feinberg to oversea the victims cases against the automaker.
Major Economic Reports:
6:00 am CT – MBA Purchase Applications (-1.2% last week)
7:15 am CT – ADP Employment Report
9:00 am CT – Factory Orders
9:30 am CT – Oil Inventories
11:30 am CT – Fed’s Lockhart Speaks
4:00 pm CT – Fed’s Bullard Speaks
Notable Earnings:
Before Market: AYI, MON, OMN
After Market: DDC, TXI
Thursday – 4/3: GBX, GPN, MU, RPM |
发表于 2014-4-2 09:03
| 
