Several Economic Events On Tap Today

Tuesday will see four economic events of note that will impact markets. Two will occur befor the market opens at 8:30 and 8:45 a.m. EDT. Two will occur at 10:00 a.m. EDT. Pay attention to futures pre-market and major indexes at 10:00 a.m. EDT for reaction.

Big Day Ahead

 

China Data Still Weak

One catalyst to get stocks moving higher is an improvement to the Chinese economy. Currently, that is not happening. Last night Chinese March Trade data came in weak.

Trade Data

 

Q1 Earnings Could Be A Problem

Earnings could be weak as companies begin to report first quarter (Q1) earnings. Earnings are expected to actually DECLINE from a year ago. Disappointing earnings probably will be met with further selling. Remain cautious here. Worth the read.

Earnings

 

Tensions On The Rise In Ukraine

Conflict is on the rise in eastern Ukraine. Russia has warned Ukraine and the West that they are risking civil war. Russia is back as a key issue for the market. Mainstream media is not discussing this morning. You have been warned.

Ukraine

 

Jobs Friday

All eyes are glued to the television or computer today at 8:30 a.m. EDT as the monthly jobs number is released. The $64,000 question is will there be some growth that breaks out of the recent anemic results thanks to Obamanomics? This morning we have preview. Many think it will as the weather improved. We are not so sure as every economist on the boat seems to be calling for a strong number. Worth the read.

Jobs Friday

 

Run Do Not Walk Away From Citigroup(C)

The Feds have opened a criminal probe into Citigroup (C) and how it lost $400 million in its Mexican unit. Citigroup has become the gang that can’t shoot straight. Worth the read. If you own the stock, sell it and buy JP Morgan (JPM). You will thank me in two years when Citigroup massively underperforms.

Citigroup

 

Divergence Between Gold & Silver

This morning we look at the recent different movements between gold and silver. 55% of demand for silver is from manufacturing. Instead of an article, we have video of two silver experts this morning. A fun change.

Silver

 

The Rest Of The Story

What is the purpose of sanctions when ultimately we are going to give money to Russia? Ukraine is far behind in its payments to Gazprom for natural gas purchases. How far behind? $1.7 billion. So ultimately the Internation Monetary Fund (IMF) is going to give Ukraine money and the country in turn will pay Russia. Now you know the rest of the story. Worth the read.

Gazprom Payments

 

The Big Story

The big story this morning is now we know the stock market is rigged thanks to author Michael Lewis. Last night 60 Minutes interviewed Lewis as he has a new book out today called “Flash Boys”. Tomorrow we will write about this story in Morning Matters and explain what is really going on here. Today this is a good primer for tomorrow’s article.

Lewis

 

Cost Of Options Rises

The recent selloff in momentum stocks has hit the cost of buying options. The cost is now at its highest level since 2008 relative to the S&P 500. To be clear, the cost has risen on the put side. Worth the read.

Options Premium