Day Traders Diary


U.S. equity futures hover near their pre-market highs amid upbeat action overseas. The S&P 500 futures trade nearly six points above fair value.
Reviewing overnight developments:
Asian markets ended higher. Hong Kong's Hang Seng +1.2%, China's Shanghai Composite +2.7%, and Japan's Nikkei was closed was Spring Equinox Day.
Economic data was scarce:
Australia's CB Leading Index ticked up 0.2% month-over-month (last 0.8%).
New Zealand's Visitor Arrivals increased 2.2% month-over-month (prior 2.8%) and Credit Card Spending jumped 5.9% year-over-year (previous 9.4%).
In news:
In China, two major banks reportedly halted sales of high-yield trust products as the liquidity crunch continues.
Major European indices hold modest gains. Great Britain's FTSE +0.3%, France's CAC +0.3%, and Germany's DAX +0.5%. Elsewhere, Spain's IBEX +0.1% and Italy's MIB is unchanged.
Economic data was limited:
Eurozone current account surplus expanded to EUR25.30 billion from EUR20.00 billion (expected EUR18.40 billion).
Great Britain's Public Sector Net Borrowing increased GBP7.50 billion (consensus GBP8.60 billion, prior -GBP6.40 billion).
Italian Industrial New Orders rose 4.8% month-over-month (expected 2.1%, prior -4.8%) while Industrial Sales increased 1.2% month-over-month (previous -0.2%).
Among news of note:
Russian Prime Minister Dmitry Medvedev said Ukraine should repay $16 billion to Russia following the denunciation of a 2010 agreement, per which Ukraine received a discount on gas prices in exchange for a naval base in Sevastopol.
In U.S. corporate news:

Boeing (BA 121.90, -1.83): -1.4% after being downgraded to 'Neutral' from 'Buy.'
Nike (NKE 76.95, -2.32): -2.9% after the company's soft guidance overshadowed its above-consensus earnings and revenue.
Symantec (SYMC 18.80, -2.11): -10.1% after the company unexpectedly terminated Chief Executive Officer Steve Bennett, naming Michael Brown interim president and CEO.
TIBCO Software (TIBX 21.51, -0.08): -0.4% despite reporting better-than-expected earnings on in-line revenue.
Tiffany (TIF 88.75, -2.42): -2.7% after missing earnings estimates and issuing below-consensus guidance.
There is no economic data on today's schedule but quadruple witching (index futures, index options, stock options, and stock futures expiration) and index rebalancing will take place.

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