Brexit Vote Preview
What’s in Today’s Report:
- Citi Earnings: Not a Bad Start to the Season
- Brexit “Meaningful Vote” Preview
U.S. futures are modestly higher this morning, tracking gains in Asian shares thanks to chatter of further stimulus measures by the Chinese government.
EU markets are underperforming however as focus remains on today’s Brexit vote and more key bank earnings.
Looking to the Wall Street session, the major focus will be on earnings as JPM ($2.20), WFC ($1.17), and DAL ($1.27) all report before the bell. The banks will be the main focus after C’s results were received well yesterday.
Economically, PPI (E: 0.2%) is due out ahead of the bell while the Empire State Manufacturing Survey (E: 12.0) will print at the top of the 10 o’clock hour. The Empire number could potentially move markets as survey-based data badly underwhelmed in December, contributing to the last wave of significant volatility in 2018.
Lastly, there are three Fed speakers today: Kashkari (11:30 a.m. ET), Kaplan (1:00 p.m. ET), and George (1:00 p.m. ET) but their comments should not materially move markets as they are expected to reiterate a more dovish stance on future policy.