Sentiment Update: A Somewhat Shocking Discovery
What’s in Today’s Report:
- Sentiment Update: A Somewhat Shocking Discovery
- February Durable Goods Takeaway
- EIA Data Takeaways and Oil Update
U.S. futures are lower with most global equity markets this morning as President Trump announced fresh details about automobile tariffs and other new trade policies after the close yesterday, further raising trade war angst.
Economically, Chinese Industrial Profits edged down -0.3% in February, an improvement from January’s -3.3% print, but the report was not enough to offset tariff worries.
Today, market focus will be on economic data early in the day with Final Q4 GDP (E: 2.4%), Jobless Claims (E: 225K), International Trade in Goods (E: $-135.5B), and Pending Home Sales (E: 2.9%) all due to be released.
Additionally, there is one Fed speaker: Barkin (4:30 p.m. ET) and a few more late-season earnings reports due from SNX ($2.91) and LULU ($5.87) that could move markets (but likely will not given the focus on global trade policies right now).
