Overnight ES gained several points, but has given them up since on severl issues. The Chinese headline trade number went from a deficit to a surplus, but that was because Chinese imports fell off so in fact there's no real improvement there. First Qtr. home prices are down in China and as seen yesterday, food inflation is up.
The BOJ didn't do anything at their meeting, they said there's been no talk of easing at the meeting.
European April Investor Confidence missed expectations coming in lower then expected and Spain's yields are still moving wider, moving closer to that 6% number that seems to be the unsustainable yield when PIIGS need a bailout at 5.96%. The European market's have started this week on a weak note thus far. In addition Iran has cut off oil shipments to Spain
In the US, Bernanke's speech last night didn't seem to hint at QE, however a lot was said so we'll see how the market 'choses” to interpret the Chairman's remarks.
The NFIB Small Business Optimism Index missed...
Released On 4/10/2012 7:30:00 AM For Mar, 2012
| Prior | Consensus | Consensus Range | Actual | |
| level | 94.3 | 94.8 | 94.0 to 95.0 | 92.5 |
We have Wholesale trade at 10 a.m. and a bunch of F_E_D speakers throughout the day so something interesting may come out, but thus far they have been taking a more of a "Wait and See" attitude.
It looked like we would see a slightly higher opening earlier, that has now reversed to a slightly lower open.
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