The Day Ahead: Jobless Claims, Trade Balance, $13 Billion 30s

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Posted To: MBS Commentary

Broad losses in overseas markets have U.S. equity futures on edge this morning, while interest rates are slightly higher, the US dollar is moving up and commodity prices wane. After China posted a surprise trade deficit and Moody's dropped Spain's credit rating by one notch to Aa2, shares in Japan fell 1.46%, while those in Hong Kong and China fell 0.82% and 1.50%, respectively. In Europe, London's FTSE 100 is currently down 1.07%. In Germany the Dax is -0.75% and in Paris the CAC is trading 0.58% lower. In the U.S., S&P 500 futures are 4.0 points lower at 1,311.50 and Dow futures are trading 18 points lower at 12,156. Both indexes ended Wednesday flat after jumping about 1% Tuesday. Commodity prices moved lower overnight as well. Light crude is down 1.65% to $102.6 per barrel. Gold prices...(read more)

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