Live Index – Mon, 21 Apr 2014 Premarket

June E-mini S&Ps (ESM14 +0.17%) this morning are up +0.13% and European markets are closed for the Easter Monday holiday. Russia’s Micex Stock Index is down -0.70% % and the ruble weakened after deadly clashes in Ukraine’s east undermined the viability of a peace accord signed Thursday in Geneva. Russia’s Foreign Ministry blamed Ukrainian nationalists for the violence, while Ukraine’s first deputy head of the National Security and Defense Council said that Russia’s accusation and statements show it is preparing to invade Ukraine. Asian stocks closed mostly lower: Japan -0.03%, Hong Kong and Australia closed for holiday, China -1.67%, Taiwan -0.17%, Singapore +0.06%, South Korea -0.24%, India +0.60%. Japan’s Nikkei Stock Index retreated from a 1-1/2 week high and closed lower after Japan’s Mar trade deficit widened more than expected as exports grew at their slowest pace in a year. China’s Shanghai Stock Index dropped to a 1-1/2 week low and closed lower after the China Securities Regulatory Commission posted the prospectuses of 28 new IPOs on its website and fueled concern that the new shares will draw funds away from existing stocks. Commodity prices are mixed. May crude oil (CLK14 -0.13%) is down -0.18%. May gasoline (RBK14 -0.40%) is down -0.51%. Jun gold (GCM14 -0.71%) is down -0.56% at a 2-week low. May copper (HGK14 -0.05%) is up +0.07%. Agriculture prices are weaker. The dollar index (DXY00 +0.03%) is down -0.01%. EUR/USD (^EURUSD) is up +0.02%. USD/JPY (^USDJPY) is up +0.17% at a 1-1/2 week high after the yen fell when Japan reported a wider-than-expected trade deficit last month. June T-note prices (ZNM14 -0.11%) are down -2 ticks.

The Japan Mar trade balance widened to a -1.446 trillion yen deficit, wider than expectations of a -1.081 trillion yen deficit. Mar exports rose +1.8% y/y, weaker than expectations of +6.5% y/y and the slowest pace of increase in a year. Mar imports climbed +18.1% y/y, more than expectations of +16.2% y/y.

The markets this week will focus on the Ukraine situation, Q1 earnings, comments on Tuesday from former Fed Chairman Bernanke, and the Treasury’s sale of $ 96 billion of 2, 5 and 7-year T-notes. Today’s March U.S. leading indicators report is expected to show a strong increase of +0.7%, adding to the +0.5% increase seen in February. There are 6 of the S&P 500 companies that report earnings today: Halliburton (consensus $ 0.71), Hasbro (0.10), SunTrust Banks (0.66), Kimberley-Clark (1.47), Netflix (0.81), Zions Bancorporation (0.42). The only equity conference this week is the Barclays Chicago Energy CFO Corporate Day on Tuesday.

Kimberly Clark (KMB +0.12%) reported Q1 adjusted EPS of $ 1.48, better than consensus of $ 1.47.

Halliburton (HAL +0.66%) reported Q1 EPS of 73 cents, higher than consensus of 71 cents.

Hasbro (HAS +1.41%) reported Q1 EPS of 14 cents, stronger than consensus of 10 cents.

Morgan Stanley (MS +2.91%) was upgraded to ‘Buy’ from ‘Neutral’ at Nomura.

Arch Coal (ACI +0.80%) was upgraded to ‘Neutral’ from ‘Sell’ at Goldman Sachs.

Big Lots (BIG -0.51%) was upgraded to ‘Overweight’ from ‘Neutral’ at Piper Jaffray.

Yum! Brands (YUM -0.68%) was downgraded to ‘Neutral’ from ‘Overweight’ at JPMorgan Chase.

Chipotle (CMG -5.94%) was upgraded to ‘Overweight’ from ‘Neutral’ at JPMorgan Chase.

SunTrust Banks (STI -0.55%) reported Q1 EPS of 73 cents, bettter than consensus of 66 cents.

GLG Partners reported a 5.05% passive stake in Shanda Games (GAME +0.76%) .

Advanced Micro Devices (AMD -1.86%) reported Q1 adjusted EPS of 2 cents, better than consensus of no change.

Hub Group (HUBG +1.06%) reported Q1 EPS of 33 cents, less than consensus of 36 cents.

June E-mini S&Ps (ESM14 +0.17%) this morning are up +2.50 points (+0.13%). The S&P 500 index on Thursday closed slightly higher. Bullish factors included (1) the +2,000 increase in U.S. weekly initial unemployment claims, less than expectations of +15,000, (2) the +7.6 point increase in the Apr Philadelphia Fed manufacturing index to a 7-month high of 16.6, better than expectations of +1.0 to 10.0. Bearish factors included (1) disappointing earnings results from Google, IBM, and UnitedHealth Group, and (2) the ongoing crisis in Ukraine where there was no sign of the de-escalation that Russia agreed to last Thursday. Closes: S&P 500 +0.14%, Dow Jones -0.10%, Nasdaq +0.04%.

Jun 10-year T-notes (ZNM14 -0.11%) this morning are down -2 ticks. Jun 10-year T-note futures prices on Thursday tumbled to a 1-1/2 week low and closed lower as stronger-than-expected U.S. economic data on weekly initial unemployment claims and the Apr Philadelphia Fed manufacturing index bolstered speculation the Fed will continue to taper QE3 and may be closer to raising interest rates. Closes: TYM4 -20.00, FVM4 -11.00.

The dollar index (DXY00 +0.03%) this morning is down -0.008 (-0.01%). EUR/USD (^EURUSD) is up +0.0003 (+0.02%). USD/JPY (^USDJPY) is up +0.17 (+0.17%) at a 1-1/2 week high. The dollar index on Thursday closed little changed. The dollar found support on stronger-than-expected U.S. economic data (weekly initial unemployment claims and Apr Philadelphia Fed manufacturing index), which supported the outlook for the Fed to continue to taper QE3. Strength in stocks, however, limited the upside for the dollar on reduced safe-haven demand. Closes: Dollar index +0.074 (+0.09%), EUR/USD unch, USD/JPY +0.011 (+0.01%).

May WTI crude oil (CLK14 -0.13%) this morning is down -19 cents (-0.18%) and May gasoline (RBK14 -0.40%) is down -0.0155 (-0.51%). May crude and gasoline prices on Thursday closed higher with May gasoline at a 7-1/2 month high. Bullish factors included (1) better-than-expected U.S. economic data on weekly jobless claims and the Apr Philadelphia Fed manufacturing index, which signals strength in the U.S. economy and energy demand, and (2) the ongoing Ukraine crisis and concern any further escalation of hostilities could lead to a disruption of energy supplies throughout Europe. Closes: CLK4 +0.54 (+0.52%). RBK4 +0.0165 (+0.54%).