FYI: Global stocks wavered after conflicting economic data Friday, though U.S. markets were poised to open slightly higher ahead of first-quarter earnings from two of the nation’s biggest banks.
Shares in Hong Kong, China and Japan were down marginally after the S&P 500 closed up 0.01% on the day Thursday. Trade data from China showed a strong recovery in exports, which rose 14.2% in March over the same month last year, after a big fall in January and February.
However, Chinese imports were down heavily again, suggesting weak domestic demand, which is a bad sign for Europe’s struggling economies.
European stocks were also down at the open, with the Stoxx Europe 600 losing 0.2%, while yields on 10-year German bunds also fell again, moving further into negative territory.
In the U.S., 10-year Treasury yields dipped to 2.491%, from 2.502% Thursday. Yields and prices move in opposite directions.
Wall Street futures pointed to opening gains of 0.1% for the S&P 500 and 0.4% for the Dow Jones Industrial Average.
U.S. producer prices for March on Thursday posted their largest monthly increase since October, but a fresh 49-year low on jobless claims seemed to be more important to markets, said Jim Reid, strategist at Deutsche Bank .
Earnings season was set to kick off in the U.S., with reports from JPMorgan and Wells Fargo due before markets open.
&P 500 bank stocks have recovered a little in the past week or so, but are flat over the past month, lagging a 3.5% rise for the broader index.
Elsewhere, Turkey’s stocks and currency fell as investors worried about another decline in the country’s foreign reserves and its economic reform plans. Turkey’s ISE National 100 index dipped another 0.5% Friday while its lira dropped to the lowest level since last October, hitting 5.79 to the dollar.
The lira is weaker now than it was in the run-up to local elections in March, which sparked worries among international investors about government interference in the economy.
The WSJ Dollar Index, which measures the dollar against a basket of currencies, edged down 0.1%.
In commodities, Brent crude oil gained 0.2% to $70.97 a barrel, while gold gained 0.2%.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/global-stocks-waver-ahead-of-bank-earnings-reports-11555056886Bloomberg:
https://www.bloomberg.com/news/articles/2019-04-11/asia-stocks-set-for-gains-dollar-pushes-higher-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-disney-plus-nextflix-apple-boeing-737-max/CNBC:
https://www.cnbc.com/2019/04/12/stock-market-wall-street-earnings-in-focus-amid-economic-concerns.htmlU.K.:
https://www.marketwatch.com/story/london-markets-shrug-off-brexit-malaise-2019-04-12/printEurope:
https://www.reuters.com/article/us-europe-stocks/european-shares-edge-lower-as-unicredit-banco-santander-fall-idUSKCN1RO0RUAsia:
https://www.marketwatch.com/story/asia-stocks-open-mixed-once-again-in-thrall-to-us-china-trade-jitters-2019-04-11/printBonds:
https://www.cnbc.com/2019/04/12/us-bonds-global-growth-worries.htmlCurrencies:
https://www.cnbc.com/2019/04/12/forex-markets-us-data-commodity-currencies-in-focus.htmlOil:
https://www.cnbc.com/2019/04/12/stock-market-wall-street-earnings-in-focus-amid-economic-concerns.htmlGold:
https://www.cnbc.com/2019/04/12/gold-markets-dollar-us-economic-data-in-focus.htmlCurrent Futures:
https://finviz.com/futures.ashx 
