Markets Today

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Good Morning,

What’s Inside Today’s Report:

— Weekly Economic Cheat Sheet

Futures are fractionally lower after global manufacturing PMIs underwhelmed. Asia and Europe both traded lower off the data, although the declines are moderate.

Chinese, German and EMU manufacturing PMIs all slightly missed expectations but stayed (barely) above 50, reflecting the still fragile global growth picture but not materially increasing concerns about global growth.

Today focus will be on economic data as earnings are mostly over. ISM Manufacturing Index (E: 56.0) is the highlight although auto sales numbers will come throughout the day.

There are two Fed speakers today: Evans (9:30 AM), Fisher (12:40 PM). Also, Yellen meets with President Obama, but none of those events should contain any surprises.

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