The Day Ahead: CPI, Industrial Production, Jobless Claims
ByPosted To: MBS Commentary
Equity futures are rebounding modestly this morning after substantial losses earlier in the week erased all of 2011’s gains. Bonds are backing up in the process. S&P 500 futures are 12.00 points higher at 1,266.00 and Dow futures are up 69 points at 11,647. Since hitting a calendar-year high on Feb. 18, the S&P has shed 83.5 points, or 6.23%, while the Dow has lost 705 points, or 5.72%. Light crude oil rose 1.88% overnight to $99.82 per barrel while gold prices are up 0.16% to $1,401.55. “Investor risk appetite is back on as concerns about Japan’s nuclear crisis have abated somewhat,” said economists at BMO Capital Markets, noting that Japan is adding more workers at the Fukushima power complex and that G7 officials are expected to meet tomorrow to discuss assistance for Japan. The…(read more)