U.S equity futures appear to be following Asian markets lower after China announced a much weaker than expected trade deficit which approached $23 Billion in February. The Shanghai Composite index slipped 3% following the news as exports fell by a disappointing 18.1%. Japan also thwarted global markets after revising GDP numbers to below 1% which sent the Nikkei lower by the same margin. Oil Futures (/CL) and other industrial based commodities fell sharply in response as concerns over China’s relentless appetite appears to be easing.
McDonalds (MCD) just reported same store sales this morning with a drop of 1.4% in February for U.S based Operations. Globally, the fast food chain saw a total reduction of 0.3% thanks to a stronger demand out of Europe. Earnings season is winding down with only Urban Outfitters (URBN) as a noteworthy retailer expected to release after the bell. Economic news will be light today with only a few speaking engagements from the Federal Reserve. TD Ameritrade will be announcing their monthly IMX number at 11:30 CT which gauges trends in how retail investors have been allocating portfolios over the previous month.
Stock Stories:
Boeing (BA) Grounded?? Boeing is trading lower pre-market by over 2% after reports of hairline fractures being found on new 787 Dreamliner wings in production are delaying delivery to Norwegian Air. This news comes as the company is still recovering from last year’s negative battery PR on the new aircraft.
Major Economic Reports:
06:15 am CT – FOMC Member Plosser speaks
11:30 am CT – TD AMERITRADE IMX
11:40 am CT – FOMC Member Evans speaks
Notable Earnings:
Before Market: N/A
After Market: URBN
Tuesday – 3/11: AEO, CZR, DKS, DMND, PAY |
发表于 2014-3-10 09:18
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