Ahead of the Bell: Dow futures are trading up 27 points and S&P futures are trading up 3 points. Euro zone fears and questionable comments from EU finance official’s keeps markets jittery. Banks in Cyprus remain close until Thursday to prevent a run on deposits. The government will then use the 10 billion euro rescue funds to avoid a financial meltdown of the system. Mixed comments by the head of the Eurogroup finance members that the deal reached by Cyprus with bond holders could become the template for other struggling members of the region is weighing on investors. Deep division remains among the 17 members bloc of the struggling south versus the more prosperous north.
On the economic calendar today, durable goods orders for February will be out before the market opens, a reading of 3.5% is expected compared with -5.2% for January. S&P Case-Shiller HPI for January will...
Earl “The Pearl” Monroe and Walt “Clyde” Frazier will visit the New York Stock Exchange (NYSE) to highlight the Crown Heights Youth Collective.
About the Crown Heights Youth Collective, Inc.
The Crown Heights Youth Collective, Inc. (CHYC) serves the diverse communities of Crown Heights. Because of the rampant crime and truancy within the Crown Heights community; there has been a need for a comprehensive youth program. During the past 30 years CHYC has served more than 100,000 young people through youth outreach. With our unique hands-on approach, we meet the youth wherever they are; whether it is the playground, schoolroom, or street corner.
By initiating youth outreach programs, the Crown Heights Youth Collective is encouraging young people to re-focus. From this...
Stocks ended lower as investors looked overseas to Cyprus which has come to a deal to avert the country’s financial crisis. The agreement includes a levy on uninsured deposits over 100,000 euros in the country’s second largest bank, Laiki. The deal is expected to supply 4.2 billion euros toward the bailout package.
The Chicago Fed National Activity Index is up to 0.44 in February vs. a revised minus 0.49 in January. Production leads the gain, followed by employment and by sales/orders/inventories.
According to the Dallas Fed Manufacturing Survey, Texas activity increased in March from 6.2 to 9.9. Overall, perceptions of broader business improved, while labor market indicators remained mixed.
From The Trading Floor: Equities are trading in positive territory this morning after an overnight deal was reached to bailout Cyprus. The S&P 500 is within reach of it’s all time high of 1565.15
A Cyprus bailout deal was reached overnight. The deal provides EUR10 billion in financing for Cyprus but also includes shutting down the country's second-largest bank, Cyprus Popular Bank PCL, and downsizing the largest bank, Bank of Cyprus, and imposing losses on deposits of more than EUR100,000.
January Chicago Fed Midwest Manufacturing Index rose 0.44 in Feb from -0.49 in Jan
Dallas Fed manufacturing activity index is out at 10:30
For technicals today resistance is looking like 1562/1565. Support looks like 1551/1554
Executives and guests of Cincinnati, Ohio-based Vantiv, Inc. will visit the New York Stock Exchange (NYSE) to mark the company’s first year as a publicly-traded company. The company celebrated its initial public offering at the NYSE on March 22, 2012.
In honor of the occasion, President and Chief Executive Officer Charles Drucker, joined by employees, will ring the NYSE Opening Bell.
About Vantiv, Inc. (NYSE: VNTV)
Vantiv, Inc. (NYSE: VNTV) is a leading, integrated payment processor differentiated by a single, proprietary technology platform. Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes in the U.S., enabling them to address their payment processing needs through a single provider. We build strong relationships with our customers, helping them become more efficient, more secure and...