Domestic markets are indicating a modestly higher open this morning following mixed results from yesterday’s session. As expected, both the Bank of England and the European Central Bank elected to keep rates unchanged overnight in light of the sustained deflationary environment in much of Europe. The Crimean Parliament has just complicated the international Ukrainian crisis further by unanimously voting to join Russia over the next 10 days. Markets will continue to be on edge with any further developments in the ongoing showdown within the region.
The CBOE Volatility Index (VIX) contracted 1.5% yesterday with hope of a diplomatic solution to the de-escalating geo-political tension. Both Gold futures (/GC) and Oil futures (/CL) appear to be losing momentum pre-market as the commodity trades are reversing from their sharp spike in price at the onset.
Retail numbers will continue to be in focus today after Staples (SPLS) and Costco (COST) both missed quarterly estimates. Gap Stores (GAP) will be reporting same store sales later today giving investors a better look into how traffic during the inclement weather affected sales volumes. Other economic releases today include: weekly jobless claims expected around 336K, factory orders, and productivity and costs. Tomorrow’s Unemployment rate is expected to be the highlight of a week with relatively quiet economic impact.
Stock Stories:
Costco (COST) –Downsizing?? – The retailer is trading lower pre-market after reporting a 15% reduction in profit for the 2nd quarter. Weather is the key factor being blamed for the slip-up.
Major Economic Reports:
Thursday:
7:15 am CT–FOMC Member Dudley Speaks
7:30 am CT– Weekly Jobless Claims
7:30 am CT– Productivity & Costs
9:00 am CT – Factory Orders
9:30 am CT – Natural Gas Inventories
12:00pm CT– FOMC Member Plosser Speaks
Notable Earnings:
Before Market: CIEN, COST, JOY, KR, PLCE, SPLS,
After Market: CKP, HRB,
Friday – 3/7:BIG, FL, HTZ, PNY, |
发表于 2014-3-6 10:06
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发表于 2014-3-6 10:38
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