The last trading day of the week, month, and what has been a big quarter for equity markets with several major indices reaching new all-time highs, is off to a subdued start with the Easter long weekend approaching. US index futures are flat, digesting yesterday’s US index gains of 0.5% to 1.2%. In Europe, the Dax is up 0.1% and the FTSE is up 0.3%. Asia Pacific trading was mixed with the Nikkei falling 1.5% and the Hang Seng bouncing 0.9%.
Currency trading finds alternative currencies in rally mode with Bitcoin up 2.5%, Ether up 2.1% and Gold up 0.9%. The US Dollar is gaining against other major paper currencies, up 0.3% vs the Euro and 0.1% vs the Loonie. Commodity action is mixed with US Crude Oil up 1.5%, Natural Gas up 0.2%, and Copper down 0.3%.
It’s a busy morning for economic news. Canada monthly GDP for January (0.6% vs street 0.4% and previous 0.0%) accelerated more than expected. UK Q4 GDP was unchanged at -0.2%. US Q4 GDP was revised up slightly (3.4% vs street 3.2%). US weekly initial jobless claims (210K vs street 215K) were a bit better than expected.
US Chicago PMI (street 46.0) is due at 9:45 am EDT, followed by consumer sentiment and pending home sales at 10:00 am. US Core PCE inflation (street 2.8%) is due tomorrow morning, followed by US Manufacturing PMI and construction spending on Monday.