U.S. equity indices are lower this morning. S&P 500 futures are down 4 points in pre-opening trade. Index futures are responding to overnight strength in the U.S. Dollar. Commodities priced in U.S. Dollars including gold, silver, copper and crude oil are trading lower.
China’s auto sales in February rose 55% on a year-over-year basis. That’s good news for platinum. Demand for platinum used in catalytic converters continues to increase. Platinum currently is in a period of seasonal strength lasting until the end of May.
The last of Canada’s major banks reported fiscal first quarter “cash” earnings this morning. Bank of Nova Scotia reported $0.93 versus $0.82 last year. Consensus was $0.88 per share.
Mattel added 1% after Citigroup upgraded the stock to a Buy.
Yum Brands gained 2% after UBS upgraded the stock to a Buy.
Cisco improved 1% in anticipation of news to be released at 11:00 AM EST. The company is expected to announce launch of a new device that will speed up internet use.
Don Vialoux, chartered market technician, is the author of a free
daily report on equity markets, sectors, commodities, equities and
Exchange-Traded Funds. For more visit Don Vialoux's Web site