The Eurozone Mar business climate indicator rose +0.14 to 0.23, stronger than expectations of +0.11 to 0.18 and matched the November 2014 reading as the highest in 9 months. Mar economic confidence rose +1.6 to 103.9, stronger than expectations of +0.9 to 103.0 and the highest in 3-1/2 years.
UK Feb mortgage approvals rose 61,800, stronger than expectations of 61,500 and the most in 6 months.
UK Feb net consumer credit rose +0.7 billion pounds, less than expectations of +0.9 billion pounds.
Japan Feb industrial production fell -3.4% m/m and -2.6% y/y, weaker than expectations of -1.9% m/m and -0.6% y/y.
There is one of the Russell 1000 companies that reports earnings today: American Realty Capital Properties (consensus $0.23).
There are no U.S. IPOs that are scheduled to price or begin trading today.
Equity conferences this week include: Bank of America Merrill Lynch New York Auto Summit on Wed, DUG Bakken and Niobrara Unconventional Oil Conference on Wed, Mitsubishi UFJ Financial Utilities Conference on Wed, New York Interational Auto Show-Press Days on Wed, and Goldman Sachs Biosimilars Conference on Thu.
Genesco (GCO +0.49%) was downgraded to 'Neutral' from 'Outperform' at RW Baird
BHP Billiton (BHP -1.98%) was upgraded to 'Outperformer' from 'Sector Performer' at CIBC.
Western Union (WU +1.60%) was upgraded to 'Buy' from 'Hold' at Evercore ISI.
Xilinx (XLNX +5.85%) was downgraded to 'Equal Weight' from 'Overweight' at Morgan Stanley.
Madison Square Garden (MSG +1.55%) was upgraded to 'Buy' from 'Hold' at Topeka.
Horizon Pharma (HZNP +3.27%) will acquire Hyperion Therapeutics (HPTX -1.88%) for $46.00 per share, or $1.1 billion on a fully diluted basis.
Restoration Hardware (RH +4.06%) was upgraded to 'Buy' from 'Neutral' at Goldman Sachs.
Barclays upgraded Analog Devices (ADI +2.47%) to 'Overweight' from 'Equal Weight' saying it believes the chip maker has secured multiple socket wins in Apple's iPhone and iPad.
Altera (ALTR +28.37%) is up over 3% in pre-market trading on carry-over support from Friday's 28% surge in the stock amid reports that Intel is in negotiations to acquire the company.
Realty Income (O -0.37%) will replace Windstream (WIN -5.10%) in the S&P 500 as the close of trading on April 6.
Fitch Ratings downgraded Greece's Long-term foreign and local currency Issuer Default Ratings to 'CCC' from 'B.'
Enterprise Partners reported a 8.3% passive stake in Celladon (CLDN +2.88%) .
Jun 10-year T-notes (ZNM15 -0.07%) this morning are down -2.5 ticks. Friday's closes: TYM5 +14.50, FVM5 +9.00. T-note prices rallied on Friday due to reduced inflation expectations sparked by the plunge in crude oil prices and the unrevised Q4 GDP report of +2.2% that suggests the Fed will to slow to raise interest rates.
The dollar index (DXY00 +0.56%) this morning is up +0.520 (+0.53%). EUR/USD (^EURUSD) is down -0.0051 (-0.47%). USD/JPY (^USDJPY) is up +0.61 (+0.51%). Friday's closes: Dollar index -0.145 (-0.15%), EUR/USD +0.005 (+0.05%), USD/JPY -0.06 (-0.05%). The dollar index on Friday closed mildly lower after the unrevised U.S. Q4 GDP report of +2.2% sparked ideas that the Fed may delay an interest rate hike. The dollar received some underlying support from the stronger-than-expected U.S. Mar University of Michigan consumer sentiment report.
May WTI crude oil (CLK15 -1.35%) this morning is down -$1.01 a barrel (-2.07%) and May gasoline (RBK15 -0.84%) is down -0.0222 (-1.24%). Friday's closes: CLK5 -2.56 (-4.98), RBK5 -0.0877 (-4.66%). May crude oil and gasoline prices on Friday fell sharply on the possibility for an Iranian nuclear agreement and on ideas that Saudi Arabia's military involvement in Yemen may actually reduce the chances of oil disruptions in the Middle East.
|US||0830 ET||Feb personal spending expected +0.2%, Jan -0.2%. Feb personal income expected +0.3%, Jan +0.3%.|
|0830 ET||Feb PCE deflator expected +0.2% m/m and +0.3% y/y, Jan -0.5% m/m and +0.2% y/y. Feb core PCE deflator expected +0.1% m/m and +1.3% y/y, Jan +0.1% m/m and +1.3% y/y.|
|1000 ET||Feb pending home sales expected +0.4% m/m and +8.7% y/y, Jan +1.7% m/m and +6.5% y/y.|
|1030 ET||Mar Dallas Fed manufacturing activity expected +2.2 to -9.0, Feb -6.8 to -11.2.|
|1100 ET||USDA weekly grain export inspections.|
|1915 ET||Fed Vice Chairman Stanley Fischer delivers keynote address at the Atlanta Feds conference on Central Banking in the Shadows: Monetary Policy and Financial Stability Post Crisis.|
|UK||0430 ET||UK Feb net consumer credit expected +0.9 billion pounds, Jan +0.8 billion pounds.|
|0430 ET||UK Feb mortgage approvals expected 61,500, Jan 60,800.|
|0430 ET||UK Feb M4 money supply, Jan -0.8% m/m and -2.2% y/y.|
|1905 ET||UK Mar GfK consumer confidence expected +1 to 2, Feb 1.|
|EUR||0500 ET||Eurozone Mar business climate indicator expected +0.11 to 0.18, Feb 0.07. Mar economic confidence expected +0.9 to 103.0, Feb 102.1.|
|0500 ET||Revised Eurozone Mar consumer confidence, previous +3.0 to -3.7.|
|GER||0800 ET||German Mar CPI (EU harmonized) expected +0.5% m/m and +0.1% y/y, Feb +1.0% m/m and -0.1% y/y.|
|JPN||2130 ET||Japan Feb labor cash earnings expected +0.8% y/y, Jan +1.3% y/y. Feb real cash earnings, Jan -1.5% y/y.|
|American Realty Capital Properties Inc||ARCP US||10:00||Q4 2014 Earnings Call||Q4 2014|
|Mosaic Co/The||MOS US||18:00||Analyst Day - Day 1||Y 2015|
|Regeneron Pharmaceuticals Inc||REGN US||Eylea, diabetic retinopathy in patients with diabetic macular edema (DME)|
|Tahoe Resources Inc||THO CN||Shareholders Meeting||Y 2015|
|American Realty Capital Properties Inc||ARCP US||Q4 2014 Earnings Release||Q4 2014||0.233|