Major indices around the world sold off again overnight. While many markets remain in the red since about 7:00 am EDT, noon BST, a number of indices including the Dow and the FTSE have been cutting their losses while the Dax has moved back into the green on the day for now. US jobless claims came in better than expected and in the 260s for a second straight week, partly offsetting yesterday’s disappointing payrolls and sending mixed signals about tomorrow’s nonfarm payrolls. The UK election has the potential to move markets today, particularly later on in the evening when the results are out. The FTSE started out soft but has been bouncing back lately, while GBP has been running in the middle of the pack. An indecisive hung Parliament result could have a negative impact on both markets. USD has bounced back a bit today on the jobless claims news which has reduced some of yesterday’s pessimism. This has knocked back other majors particularly EUR which may have been due for a correction after a recent rally. Oil is down slightly on the USD rebound but oil sensitive majors have gone in opposite directions. NOK is near the top of the field after the Norges Bank held rates steady while CAD appears to still be reeling from the uncertainty created by this week’s Alberta election surprise which saw the Conservatives shown the door after 44 years. Corporate News Tesla Motors ($0.36) vs street ($0.50), sales $1.10B vs street $1.04B, production 11 160 cars. Guides Q2 production to 12,500 cars Activision Blizzard $0.16 vs street $0.07, sales $703M vs street $655M, guides next Q sales to $650M below street $690M and EPS to $0.07 below street $0.09 Bombardier $0.09 vs street $0.05, to spin off part of its Transportation division through an IPO in Q4 likely in Germany, first CSeries100 delivered and operating Manulife Financial $0.39 vs street $0.42, 10% dividend increase Magna International $1.12 vs street $1.10, cuts full year sales guidance to $30.8-$32.5B from $33.1-$34.8B Telus $0.68 vs street $0.65, 5% dividend increase SNC Lavalin $0.62 vs street 40.40 Canadian Solar $1.04 vs street $0.67, sales $860M vs street $749M, guides next Q revenue to $570-$620M below street $710M Molson Coors $0.46 vs street $0.45 Economic News Economic reports released overnight and this morning include: Norway interest rate 1.25% no change as expected US jobless claims 265K vs street 279K vs previous 262K Canada building permits 11.6% vs street 2.0% Germany factory orders 1.9% as expected Australia construction PMI 47.0 vs previous 50.1 Australia employment change (3K) vs street 4K vs previous 37K Australia full-time jobs (21K) vs previous 32K Australia part-time jobs 19K vs previous 6K Australia unemployment rate 6.2% as expected Japan service PMI 51.3 vs previous 48.4 Economic reports due later today include: US natural gas street 74 BCF