The Morning Morsel

Tuesday’s economic calendar features the S&P/Case-Shiller on house prices in January and the Conference Board’s gauge of consumer confidence in March, as markets position ahead of Friday’s report on nonfarm payrolls.

Equity markets continued their run up to new 18-month highs in early trading before paring back from their best levels. Markets have been relatively muted with a mixed session in Asia and the looming 4-day Easter holiday weekend pending. Greece’s ‘successful’ 7-year bond offering yesterday. Secondary trading in the paper should be a good gauge of confidence.

The dollar has finally taken a break and oil and materials had a banner day yesterday. The 200 dma held for XLE and OIH and many individual oil names exploded higher yesterday. OXY which held in well during the pull back actually popped nicely along with many others.

Tuesday, March 30, 2010

Economic
08:00 Chile Feb Unemployment, Industrial Production, Total Copper production
09:00 Feb S&P/CS Home Price Index, Feb S&P/CS Composite-20
10:00 March Consumer Confidence
16:30 API Crude Oil/Gasoline/Distillate Inventories
Events
02:45 & 06:30 Fed’s Evans to speak in Hong Kong. 12:00 Former Fed Chair Volcker discusses financial reform. 20:15 Fed’s Fisher discusses the economic crisis. Brazil to disclose FY11 budget. AMAT Analyst Day. 08:30 Tobacco Products Scientific Advisory Committee. 07:45 ICSC/UBSW Chain Store Sales. 08:55 Redbook Retail Sales. ABC Consumer Confidence. Trades Ex-dividend: APD $0.49, AXP $0.18, BMY $0.32, RL $0.10, RSG $0.19, SYY $0.25.
Earnings
Before the Open: CHRS, CIE, LAYN, LDK. After the Close: EXFO, FUL, LNDC, SAI, ZZ, TISI.

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