What you need to know before the US open
US futures had been moving higher today, pointing to a more optimistic open for markets after a difficult week.
But bond yields have slipped after an unexpected fall in producer prices: The producer price index fell 0.1 per cent in February, with services decreasing 0.3 per cent. Goods, however, rose 0.4 per cent.
Consumer confidence, out later today, is set to rise, though numbers already out will likely add to the view that a more muted inflation picture will soften the Fed’s tapering speed.
US secretary of state John Kerry is meeting with his Russian counterpart in London, in a final attempt to stop a referendum in Crimea on Sunday, which could result in the region becoming part of Russia.
The looming vote has seen European stocks extend slides today.
Corporate news
BlackRock Inc has upped its steak in UniCredit, making it the Italian bank’s largest shareholder, according to a filing posted on market watchdog Consob’s website today.
Retailers Ann Taylor and Buckle are expected to report their earnings today.
Data in focus
• 1.55pm: March Reuters/Michigan consumer sentiment index