The stock market is on track for a modestly lower start as futures on the S&P 500 trade ten points below fair value.
Global markets began the new week on a mixed note while Japan’s Nikkei was closed for Vernal Equinox. A China Eastern Airlines Boeing (BA 180.80, -12.03, -6.2%) 737-800 crashed in Southern China, with reports indicating that there were no survivors among the 132 passengers and crewmembers.
In Ukraine, the country’s leadership refused to give in to Russia’s demand to surrender in the Southeastern city of Mariupol. On a related note, Turkish officials reportedly believe that Ukraine and Russia are close to agreeing on fundamental issues.
Most commodity prices are rising again with crude oil futures up $4.65, or 4.4%, at $109.35/bbl while gold is little changed at $1926.00/ozt.
Treasuries are on track for a lower start with the 10-yr yield rising three basis points to 2.18%.
The U.S. session will not see the release of any data today or tomorrow.
U.S. equity futures:
- S&P 500 Futures: +2 @ 4,465
- DJIA Futures: -84 @ 34,671
- Nasdaq 100 Futures: -10 @ 14,410
Overseas:
- Europe: DAX +0.1%, FTSE +0.7%, CAC -0.1%
- Asia: Nikkei Closed; Hang Seng -0.9%, Shanghai Composite +0.1%
Commodities:
- Crude Oil +3.97 @ 107.06
- Nat Gas +0.018 @ 4.881
- Gold -3.65 @ 1925.65
- Silver +0.090 @ 25.177
- Copper -0.0705 @ 4.6690