There’s a certain symmetry in global markets this morning – best described as flat.
Little movement in Asian stocks overnight, European markets are just a shade lower, oil nearly unchanged, hovering near $109/barrel and US stock futures point toward a muted open.
ECB as expected hikes rates to 1.25% from 1%, though focus will be on Trichet’s comments during Q&A after 8:30 a.m. ET. Portugal bailout discussions/headlines may color the mood as well.
Weekly jobless claims due at 8:30 a.m.; Fed releases February consumer credit numbers at 3:00 p.m. Retailers report March chain-store sales throughout the morning.
S&P futures up 3.10, DJ futures up 24. Ten-year note yield up a bit at 3.57%.