| Tue | US | 0830 ET | Mar housing starts expected -3.0% to 1.250 million, Feb +3.0% to 1.288 million. Mar building permits expected +2.8% to 1.250 million, Feb -6.0% to 1.216 million. |
| 0900 ET | Kansas City Fed President Esther George (non-voter) speaks at a conference at the Levy Economics Institute of Bard College. | ||
| 0915 ET | Mar industrial production expected +0.4%, Feb unch. Mar manufacturing production expected unch, Feb +0.5%. Mar capacity utilization expected +0.3 to 76.2%, Feb unch at 75.9%. | ||
| CAN | 0900 ET | Canada Mar existing home sales, Feb +5.2% m/m. | |
Jun E-mini stock futures this morning are down -7.00 points (-0.30%) and European stocks are down -0.98% at a 3-week low. Weakness in crude oil prices and mining stocks is dragging U.S. equity prices lower as May WTI crude slid -0.78% to a 1-week low on concern the increase in active U.S. oil rigs to the most in 1-1/2 years will lead to higher U.S. crude production. Also, Freeport McMoRan and U.S. Steel are both down more than 1% in pre-market trading as iron ore prices slumped to a 4-3/4 month low after Citigroup said it was bearish in the outlook for the metal. Brexit concerns and French presidential risks weighed on European stock prices. GBP/USD jumped +0.79% to a 2-1/2 month high after UK Prime Minister May called for an early general election on June 8. May said she was calling the election “with reluctance” but that Britain needs stability during Brexit negotiations. Meanwhile, this Sunday’s presidential election in France is too close to call between the pro-EU and anti-EU presidential candidates. Asian stocks settled mixed as China’s Shanghai Composite closed down -0.79% at a 2-week low and Japan’s Nikkei Stock Index closed up +0.35%. The dollar index is down -0.17% and Jun 10-year T-notes are up +7 ticks.
| Morning Markets | Last | Chg | %chg |
| E-mini S&P 500 (M7) | 2338.00 | -7.00 | -0.30% |
| Europe Euro Stoxx 50 | 3414.32 | -33.94 | -0.98% |
| Japan Nikkei Index | 18419 | 63 | 0.35% |
| China Shanghai Comp. | 3197 | -25 | -0.79% |
| 10yr T-notes (CBT)(M7) | 126.040 | 0.070 | 0.17% |
| U.S. Dollar Index | 100.120 | -0.170 | -0.17% |
| Euro FX (EUR/USD) | 1.0669 | 0.0026 | 0.24% |
| Dollar-yen (USD/JPY) | 108.88 | -0.03 | -0.03% |
| Sterling (GBP/USD) | 1.2664 | 0.0099 | 0.79% |
| WTI Crude Oil (K7) | 52.24 | -0.41 | -0.78% |
| Brent Crude Oil (M7) | 54.90 | -0.46 | -0.83% |
| Gasoline (Nymex) (K7) | 1.7046 | -0.0150 | -0.87% |
| Gold (Comex) (M7) | 1287.9 | -4.0 | -0.31% |
| Silver (Comex) (K7) | 18.405 | -0.109 | -0.59% |
| Copper (Comex) (K7) | 2.553 | -0.044 | -1.68% |