Asia mixed on Bank of Japan stimulus expectation; Europe gains on Barclays cost cutting; U.S. futures signal flat opening before earnings.
- Asian stock indexes were mixed. Talk of further economic stimulus helped support the Nikkei while an alleged North Korean nuclear test dampened the KOSPI.
- The Nikkei soared 1.94 percent; S&P/ASX 200 slipped 0.01 percent; KOSPI fell 0.26 percent; Hang Seng and Shanghai Composite were closed for the Lunar New Year.
- European stock indexes advanced following Barclays's rise. Expect gains in the Vanguard MSCI Europe ETF (NYSEArca: VGK) and in the SPDR Euro Stoxx 50 ETF (NYSEArca: FEZ).
- U.K. CPI met expectations of a drop of 0.5 percent in January.
- U.S. stock futures were flat ahead of a handful of earnings including Coca-Cola. Eyes were also on the Federal Reserve.
- The January Treasury budget is seen at a deficit of $2 billion.
- 4th-Quarter Earnings – Before Market
- Estimated EPS = $0.44
- ETF Movements
◦ Consumer Staples Select Sector SPDR (NYSEArca: XLP)
◦ Vanguard Consumer Staples ETF (NYSEArca: VDC)
◦ iShares Dow Jones U.S. Consumer Goods Index Fund (NYSEArca: IYK)
All commodities news is as of 7:25 a.m. ET.
Gold Advanced and Silver Slipped
- Gold rose 0.06 percent, or $0.90, to $1649.05. Expect small increases in the SPDR Gold Shares physical bullion ETF (NYSEArca: GLD).
- Silver fell 0.13 percent, or $0.04, to $30.92. Look for drops in the iShares Silver Trust (NYSEArca: SLV).
WTI and Brent Oil Climbed
- The March contract for WTI crude oil gained 0.28 percent, or $0.27, to $97.32 per barrel.
- The March contract for Brent crude oil jumped 0.48 percent, or $0.57, to $118.74 per barrel.
- Expect advances in the United States Oil Fund (NYSEArca: USO) and in the United States Brent Oil Fund (NYSEArca: BNO).
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- Treasury Budget - 2:00 p.m. ET
◦ Consumer Price Index - 3:15 a.m. ET
◦ CPI - 4:30 a.m. ET
◦ Producer Price Index - 4:30 a.m. ET
◦ CGPI (PPI) - 6:50 p.m. ET
◦ Tertiary Index - 6:50 p.m. ET