Stock Market Preview - Economic Reports, Corporate Events, International Markets, Commodities

By Kelly Barth:

The market sank yesterday on a tough ISM Manufacturing read, with the ISM Index falling to 51.3, from 54.2 last month. The SPDR Dow Jones Industrial Average (NYSE: DIA) dropped ever so slightly because of a late day reach higher. Futures are indicating a positive swing Tuesday, but more manufacturing data is on the schedule. Factory Orders and Motor Vehicle Sales will either confirm ISM or offer enough conflicting evidence to give stocks some lift.

Overseas Markets

EUROPE	Thru 7:50 AM	ASIA/PACIFIC	7:50 AM
EURO STOXX 50	+1.1%	NIKKEI 225	-1.1%
German DAX	+1.2%	Hang Seng	+0.3%
CAC 40	+1.0%	S&P/ASX 200	+0.4%
FTSE 100	+1.1%	Korean KOSPI	-0.5%

European area unemployment increased to 12% in February, as the euro zone economy has contracted for five straight quarters and is expected to do so again in Q1. Cyprus markets opened after a two week closure and stocks dropped in the crippled country. North Korea threatened to restart a long shut nuclear power plant and the U.S. has moved a destroyer off the nation’s coast as Chinese troops gather at its border.

Economic Reports

More manufacturing and other goods producer information reaches the wire Tuesday, with Factory Orders being reported for the month of February. It’s just one week since the Durable Goods Report showed pretty soft data excluding transportation orders. For Factory Orders, economists see a 2.9% increase in this figure, compared to last month’s 2.0% decline.

Monthly motor vehicle sales will be reported on Tuesday instead of Monday, due to the holiday. The news from Ford (NYSE: F), General Motors (NYSE: GM), Chrysler (owned mostly by Fiat (OTC: FIATY)), and Toyota (NYSE: TM) fits nicely with the other manufacturing reports set for release through the first two days of the week. In aggregate, domestic motor vehicle sales are expected to have run at an annual pace of 12.1 million in March, the same as in February. Total vehicle sales by American producers are expected to be running at a pace of 15.4 million now, the same as the month before.

Richmond Fed Bank President Jeffrey Lacker and the Chicago Fed’s Charles Evans are scheduled to speak on monetary policy Tuesday. World Bank President Jim Yong Kim will address global poverty. President Obama is meeting with the Prime Minister of Singapore at the White House.

Tuesday also offers the regular retail same-store sales data. Last week, the International Council of Shopping Centers (ICSC) showed week-to-week sales decreased 1.7%. On a year-to-year basis, sales were marked up 1.0%. Each measure represented deterioration against the prior week’s rates, but were likely impacted by Easter.

Commodity Markets (8:00 AM ET)

WTI Crude	-0.01%
Brent Crude	+0.53%
RBOB Gasoline	-0.38%
NYMEX Natural Gas	+0.15%
Gold Spot	-0.2%
Silver Spot	-0.2%
COMEX Copper	+0.04%
CBOT Corn	+0.86%
CBOT Wheat	+1.13%
CBOT Soybeans	+0.74%
ICE Sugar	+0.11%
ICE Cocoa	Unch.
ICE Orange Juice Conc.	+0.45%
CME Live Cattle	+0.16%

Corporate Events

In corporate news, look for investor and analyst days at EnerSys (NYSE: ENS), Hertz Global (NYSE: HTZ) and Global Brass & Copper (Nasdaq: BRSS). Expect earnings from McCormick (NYSE: MKC), Global Payments (NYSE: GPN), Blonder Tongue Laboratories (NYSE: BDR), BOS Better Online Solutions (Nasdaq: BOSC), Edap Tms SA (Nasdaq: EDAP), G-III Apparel (Nasdaq: GIII), magicJack Vocaltec (Nasdaq: CALL), Oxford Industries (NYSE: OXM), Real Goods Solar (Nasdaq: RSOL), Resources Connection (Nasdaq: RECN), SPAR Group (Nasdaq: SGRP), TEAM (Nasdaq: TISI) and ZaZa Energy (Nasdaq: ZAZA).

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