Traders have returned from the weekend in a positive mood sending stock markets in Europe, Hong Kong and Australia higher to kick off the week, while US indices
appear set to keep building on last week’s gains.
There hasn’t been a lot of economic or corporate news out so far today but markets have been active as this represents that last chance to position ahead of a number of major announcements due this week including an FOMC meeting on Wednesday, Apple earnings tonight, UK GDP tomorrow, manufacturing PMI reports for much of the world on Friday, and much, much more.
Currency trading today finds gold and silver outperforming as the rebound from last week’s declines, with USD, CAD, AUD, NZD and SEK relatively close in the next tier. JPY, EUR and GBP have been underperforming today the latter two possibly on ongoing uncertainty around Greece debt negotiations and the UK election campaign. Oil has dropped back slightly in normal backing and filling.
The mid-morning US flash service PMI report could spark some activity with traders still trying to figure out if we may get another spring rebound this year or not.
Walt Disney The Avengers: Age of Ultron took in $201 million in 44 overseas markets over the weekend
Precision Drilling $0.08 vs street $0.04, revenues $512M vs street $498M, company expects lower rig activity and lower prices for the rest of the year with customers cutting budgets
Economic reports released overnight and this morning include:
There have been no major economic reports overnight. Really!!
Economic reports due later today include:
9:45 am EDT US flash service PMI street 58.8 vs previous 59.2
9:45 am EDT ECB QE purchase update
10:30 am EDT US Dallas Fed street (12.0)