Yesterday saw widespread buying in U.S. equities as little news from the West propped up stocks. Stock index futures are marginally higher ahead of the 2 day FOMC meeting and Janet Yellen press conference which will occur tomorrow. With the 6.5% unemployment rate threshold for considering rate hikes pretty much dead, traders will be on the lookout for updated guidance about what might push the Fed to alter its plan to taper. Option volatility fell sharply yesterday as traders dumped options after the vote in Crimea and lack of turmoil. The buildup of buyers of options last week quickly reversed course and had the risk-on trade in play.
Japanese markets traded higher in Tuesday’s session after reaching a six-week low the previous day. European shares also quickly reversed higher after news sources confirmed that Russian interests stop at Crimea and further territorial disputes within Ukraine are unlikely. US 10 year treasury yields reached 2.69% yesterday as market rotation picked up momentum into risk-on assets. With little news expected today, the patch of least resistance appears to be pushing higher with no foreseeable obstacles in place until tomorrow’s Federal Reserve decision.
Stock Stories:
Gamestop (GME) –Game over?! – Shares of GameStop (GME) are on watch today after Wal-Mart announced a broad program that will enable customers to swap used video games for store credit. Analysts easily expect the retailer to top discounts on games. GME shares are down about 4% ahead of the opening bell.
Major Economic Reports:
6:45 am CT – GS Store Sales
7:30 am CT – Consumer Price Index (CPI)
7:30 am CT – Housing Starts
Notable Earnings:
Before Market: CCL, DSW, FDS, HTZ
After Market: ADBE, ORCL, PSUN
Wednesday – 3/19: FDX, GES, GIS, JBL, KBH |
发表于 2014-3-18 09:12
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