Stocks and oil continue to rebound By Colin Cieszynski Chief Market Strategist, CMC Markets The trading bounce for indices around the world that started yesterday has continued overnight. European indices are leading the charge as traders continue to respond favourable to word yesterday that Germany could be open to talks about Greece’s debt after this month’s election has reduced fears of an immediate crises. It’s not all rosy though, EUR continues to broadly decline on speculation the ECB may still need to really step up stimulus at its next meeting. Also, Spain has gone back into the red on reports Banco Santander may need to raise cash fast and cut its dividend, suggesting more cracks are starting to appear in the Eurozone. US indices are also climbing today but at a slower pace than their European counterparts. Chicago Fed President Evans (a voting FOMC member this year) suggested he would like to see the first rate hike in 2016 or if rates to rise this year, at a slow pace, establishing him firmly on the dovish side. Markets may continue to react to Fed comments as traders position for tomorrow’s nonfarm payrolls report. Corporate News Banco Santander reported to be looking to raise €7.6B through a cash call to shareholders, to cut dividend to €0.20 in 2015 from €0.48 last year Ford 20% dividend increase Family Dollar $0.44 vs street $0.62, same store sales (0.4%) Jean Coutu $0.30 vs street $0.32 Economic News Economic reports released overnight and this morning include: US jobless claims 294K vs street 290K Canada new house prices 0.1% vs previous 1.6% UK interest rate and QE 0.50% and £375B no change expected Eurozone producer prices (1.6%) vs previous (1.3%) Eurozone retail sales 1.6% vs previous 1.4% Germany factory orders (2.4%) vs previous 2.4% UK Halifax house prices 0.9% vs previous 0.0% Economic reports due later today include: 10:30 am EST US natural gas previous (26 BCF)