- The global equity markets are showing modest weakness overall, with S&P Futures down a couple of points in the pre-market. The downward undertones may be more of a function of the culmination of the busy week of headline risk events, the move higher in equities and the upcoming Holiday weekend in the US.
- Yesterday's fall in Crude prices has weighed on the major bourses, with the energy sector lagging across the board. This has certainly been the plague of the EU indices, with the likes to Total and BP dragging down the CAC and FTSE. This theme also played a role in capping gains in China's Shanghai.
- Trading activity may pick up with fair amount of economic data to be released in the US this morning, with Q1 GDP revision among the notables.
- S&P Futures vs Fair Value: -2.00
- 10 yr Note: 2.2360%
- USD/JPY: 110.92 -0.92
- EUR/USD: 1.1224 +0.0014
- Europe: FTSE -0.3% DAX -0.4% CAC -0.5%
- Asia: Hang Seng Unch Shanghai +0.1% Nikkei -0.6%
- Commodities: Gold (1266.50 +10.50) Silver (17.30 +0.11) crude (49.07 +0.17)
US Econ Data
- April Durable Orders, Q1 GDP- Second Estimate (8:30am)
- May Michigan Sentiment- Final (10am)