OVERNIGHT MARKETS AND NEWS

The dollar index (DXY00 +0.02%) is up +0.04%. EUR/USD (^EURUSD) is down -0.01%. USD/JPY (^USDJPY) is up +0.24%.

Mar 10-year T-note prices (ZNH18 -0.01%) are little changed, up +0.5 of a tick.

UK Dec CBI retailing reported sales fell -6 to 20, right on expectations.

German Nov PPI of +0.1% m/m and +2.5% y/y was weaker than expectations of +0.2% m/m and +2.6% y/y with the +0.1% m/m gain the smallest monthly increase in 5 months.

The Japan Oct all-industry activity index rose +0.3% m/m, right on expectations.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -2.3% with purchase sub-index -1.1% and refi sub-index -2.5%), (2) Nov existing home sales (expected +0.9% to 5.53 million, Oct +2.0% to 5.48 million), (3) EIA weekly Petroleum Status Report.