OVERNIGHT MARKETS AND NEWS
March E-mini S&Ps (ESH15 +0.14%) this morning are up +0.22% on stellar quarterly earnings results from Apple and AT&T and European stocks are down -0.50% as a slide in Greek stocks leads European stocks lower. Losses in European stocks were limited after Germany’s Economy Ministry raised its German 2015 GDP forecast. Greece’s ASE Stock Index plunged over 6% to a 2-1/3 year low and the 10-year Greek bond yield climbed to a 3-week high of 10.485% on concern the newly elected Syriza-led coalition will challenge austerity measures imposed on Greece. Greek Prime Minister Tsipras said his new government “will not be forgiven” if it betrays its pre-election pledges to renegotiate the terms of Greece’s bailout. Asian stocks closed mixed: Japan +0.15%, Hong Kong +0.22%, China -1.39%, Taiwan -0.11%, Australia +0.10%, Singapore +0.20%, South Korea unch, India -0.04%. Japan’s Nikkei Stock Index rose to a 4-week high after stronger-than-expected quarterly earnings from Apple boosted Japanese technology stocks. Commodity prices are mixed. Mar crude oil (CLH15 -1.56%) is down -1.56%. Mar gasoline (RBH15 +0.73%) is up +0.72%. Feb gold (GCG15 -0.10%) is down -0.12%. Mar copper (HGH15 +0.55%) is up +0.73%. Agriculture prices are lower. The dollar index (DXY00 +0.06%) is up +0.06%. EUR/USD (^EURUSD) is down -0.25%. USD/JPY (^USDJPY) is down -0.04%. Mar T-note prices (ZNH15 +0.10%) are up +3.5 ticks.
The German Dec import price index fell -1.7% m/m, more than expectations of -1.5% m/m and the biggest monthly decline in 6 years. On an annual basis, Dec import prices fell -3.7% y/y, more than expectations of -3.4% y/y and the fastest pace of decline in 5 years.
German Feb GfK consumer confidence rose +0.3 to 9.3, better than expectations of +0.1 to 9.1 and the highest since the data series began in 2005.
