Live Index – Fri, 04 Mar 2016 Premarket

March E-mini S&Ps (ESH16 +0.15%) are up +0.15% at a 1-3/4 month high and European stocks are up +0.67% at a 1-month high as strength in metals prices boosts miners and commodity producing stocks. The markets will take further direction from this morning’s U.S. Feb non-farm payrolls report. Apr gold is up +0.94% at a 13-month high on increased demand for gold as an alternative investment as expectations rise for global central banks to continue to boost stimulus measures in an effort to spur economic growth. May copper is up +1.22% at a 3-3/4 month high on speculation China will add to stimulus measures along with signs of tighter supplies as LME copper inventories fell -1,025 MT to a 13-3/4 month low of 186,700 MT. Asian stocks settled mostly higher: Japan +0.32%, Hong Kong +1.18%, China +0.50%, Taiwan +0.37%, Australia +0.18%, Singapore +1.77%, South Korea -0.15%, India +0.16%. Japan’s Nikkei Stock Index rose to a 3-1/2 week high and China’s Shanghai Composite climbed to a 1-week high on speculation Chinese leaders will increase measures to revive economic growth. China’s National People’s Congress will issue its 2016 growth forecast when it meets Saturday.

The dollar index (DXY00 -0.02%) is down -0.08%. EUR/USD (^EURUSD) is up +0.24%. USD/JPY (^USDJPY) is up +0.02%.

Jun T-note prices (ZNM16 +0.04%) are up +1.5 ticks.

The ECB has not yet reached a consensus on a policy decision for the Mar 10 ECB meeting, according to MNS. Unidentified Eurozone sources said that conversation among ECB members indicate that “there remains a great deal of uncertainty with respect to the viability of specific policy options” and much will depend on proposals and new ECB macroeconomic forecasts.

Key U.S. news today includes: (1) Feb non-farm payrolls (expected +195,000, Jan +151,000) and Feb unemployment rate (expected unch at 4.9%, Jan -0.1 to 4.9%), (2) Feb avg hourly earnings (expected +0.2% m/m and +2.5% y/y, Jan +0.5% m/m and +2.5% y/y), (3) Jan trade balance (expected -$ 44.0 billion, Dec -$ 43.36 billion), and (4) Dallas Fed President Rob Kaplan speaks at the North Texas Commission in Dallas.

There is 1 of the S&P 500 companies that reports earnings today: Staples (consensus $ 0.28%).

U.S. IPO’s scheduled to price today: KLR Energy Acquisition Corp (KLREU).

Equity conferences today include: Simmons Energy Conference on Thu-Fri.

Freeport McMoRan (FCX +1.56%) is up over 4% in pre-market trading as metals prices rallied with gold at a 13-month high and copper at a 3-3/4 month high.

Tyson Foods (TSN +0.35%) was downgraded to ‘Hold’ from ‘Buy’ at BB&T Capital Markets.

Staples (SPLS +1.75%) reported Q4 non-GAAP EPS of 26 cents, below consensus of 28 cents.

Hewlett Packard Enterprise (HPE -2.16%) jumped 7% in after-hours trading after it reported Q1 revenue of $ 12.72 billion, above consensus of $ 12.68 billion.

UDR Inc. (UDR +1.00%) rallied nearly 2% in after-hours trading after it was announced that UDR will replace Keurig Green Mountain in the S&P 500 as of the close of trading Friday, March 4.

H&R Block (HRB +0.95%) dropped nearly 6% in after-hours trading after it reported a Q3 adjusted continuing operations loss of -34 cents, a wider loss than consensus of -24 cents.

Cooper Companies (COO +1.12%) gained over 2% in after-hours trading after it raised guidance on 2016 adjusted EPS to $ 8.00-$ 8.30 from a December estimate of $ 7.60-$ 7.90, above consensus of $ 7.77.

Smith & Wesson Holding (SWHC +0.47%) climbed over 6% in pre-market trading after it reported Q3 adjusted EPS of 59 cents, higher than consensus of 41 cents, and then raised guidance on 2016 adjusted EPS to $ 1.68-$ 1.70 from a January estimate of $ 1.36-$ 1.41, above consensus of $ 1.47.

Planet Fitness (PLNT +0.68%) rose 2% in after-hours trading after it reported Q4 adjusted EPS of 17 cents, better than consensus of 15 cents, and then raised guidance on fiscal 2016 EPS to 60 cents-63 cents, above consensus of 59 cents.

Ambarella (AMBA +2.17%) lost over 5% in after-hours trading after it said it sees Q1 revenue of $ 55 million-$ 57 million, below consensus of $ 62.4 million.

Broadcom Ltd. (AVGO +0.26%) jumped nearly 7% in after-hours trading after it reported Q1 adjusted EPS of $ 2.41, higher than consensus of $ 2.29.

Mentor Graphics (MENT -0.05%) slid over 3% in after-hours trading after it said it sees Q1 adjusted EPS of break-even, less than consensus of a 19 cent gain.

Nimble Storage (NMBL +4.43%) dropped nearly 8% in after-hours trading after it said it sees a Q1 loss of -25 cents to -27 cents a share, a bigger loss than consensus of -16 cents.

Mar E-mini S&Ps (ESH16 +0.15%) this morning are up +3.00 points (+0.15%) at a 1-3/4 month high. Thursday’s closes: S&P 500 +0.35%, Dow Jones +0.26%, Nasdaq -0.20%. The S&P 500 on Thursday rose to a 1-3/4 month high and closed higher on strength in commodity producers and mining stocks after gold prices rose to a 13-month high and copper prices climbed to a 3-1/2 month high. Stocks also received a boost from the -0.1 point decline in the U.S. Feb ISM non-manufacturing index to 53.4, stronger than expectations of -0.4 to 53.1. Stocks were undercut by the +1.6% rise in U.S. Jan factory orders, which was weaker than expectations of +2.1%.

Jun 10-year T-notes (ZNM16 +0.04%) this morning are up +1.5 ticks. Thursday’s closes: TYM6 +5.50, FVM6 +2.25. Jun T-notes on Thursday closed higher on an unexpected increase in U.S. weekly U.S. jobless claims of +6,000 (vs expectations of -2,000) and the weaker-than-expected increase in Jan factory orders (+1.6% vs. expectations of +2.1%). T-notes were undercut by an increase in inflation expectations after the 10-year T-note breakeven inflation expectations rate rose to a 1-3/4 month high.

The dollar index (DXY00 -0.02%) this morning is down -0.074 (-0.08%). EUR/USD (^EURUSD) is up +0.0026 (+0.24%). USD/JPY (^USDJPY) is up +0.02 (+0.02%). Thursday’s closes: Dollar Index -0.622 (-0.63%), EUR/USD +0.0089 (+0.82%), USD/JPY +0.21 (+0.19%). The dollar index on Thursday closed lower on the weaker-than-expected U.S. Jan factory orders report (+1.6% vs. expectations of +2.1%), which may keep the Fed from additional rate hikes, and on strength in EUR/USD after Eurozone Jan retail sales rose +0.4% m/m, stronger than expectations of +0.1% m/m.

Apr WTI crude (CLJ16 +0.32%) this morning is up +15 cents (+0.43%) and Apr gasoline (RBJ16 -0.38%) is down -0.0026 (-0.20%). Thursday’s closes: CLJ6 -0.09 (-0.26%), RBJ6 -0.0119 (-0.91%). Apr crude oil and gasoline on Thursday closed lower as Apr crude retreated from a 2-month high. Crude oil prices were undercut by concern the global oil glut will persist after Wednesday’s EIA data showed U.S. crude stockpiles soared by +10.4 million bbl to a record 518 million bbl.