Overnight Markets and News
The dollar index (DXY00 +0.05%) is down -0.28%. EUR/USD (^EURUSD +0.33%) is up +0.25%. USD/JPY (^USDJPY -0.05%) is down -0.10%.
Jun 10-year T-note prices (ZNM18 -0-075) are down -7.5 ticks at a 3-week low.
Minneapolis Fed President Kashkari said fiscal stimulus is “big enough” to have an effect on the trajectory of the economy and has him more confident the Fed will achieve its 2% inflation objective, which will allow the Fed to raise interest raises sooner rather than later.
U.S. Stock Preview
Key U.S. news today includes: (1) Mar retail sales (expected +0.4% and +0.2% ex autos, Feb -0.1% and +0.2% ex autos), (2) Apr Empire manufacturing survey general business conditions index (expected -3.9 to 18.6, Mar +9.4 to 22.5), (3) Feb business inventories (expected +0.6%, Jan +0.6%), (4) Apr NAHB housing market index (expected unchanged at 70, Mar -1 to 70), (5) USDA weekly grain export inspections, (6) Atlanta Fed President Raphael Bostic (voter) speaks on the economy and rural market trends to the Shoals Chamber of Commerce in Florence, Alabama, (7) USDA weekly Crop Progress.
