U.S. equity index futures are slightly higher this morning. S&P 500 futures added 1 point in pre-opening trade. Index futures improved following released of economic news at 8:30 AM EST. Weekly jobless claims slipped 29,000 to 469,000. Revised fourth quarter Productivity increased from 6.2% to 6.9%. <\/p>\n
Overnight lending rates by central banks over the pond were unchanged. Bank of England maintained its 0.5% rate. The European Central Bank maintained its 1.0% rate. <\/p>\n
Canadian investors are waiting for the Federal Government\u2019s budget to be announced after the close today. The Canadian Dollar rose overnight in anticipation of a budget that focuses on cost cutting. The Canadian Dollar is testing the top of its six month trading range.<\/p>\n
Toronto Dominion Bank announced higher than expected first quarter earnings. Consensus was $1.35 versus $1.34 per share last year. Actual was $1.60 per share. <\/p>\n
Disney added 1% after Bank of America\/Merrill raised its rating from Neutral to Buy. Target was raised from $33 to $42. Disney is poised to move above resistance at $32.75 to reach a 17 month high.<\/p>\n
Coca Cola added 1% after UBS upgraded the stock from Neutral to Buy. Target price is $62. <\/p>\n
Wal-Mart added 1% after raising its annual dividend from $1.09 to $1.21 per share. <\/p>\n
More good news from the Canadian energy sector! Canadian Natural Resources raised its dividend by 42%. <\/p>\n
The technical outlook for North American oil service stocks continues to improve. See favourable technical and seasonal comments on Nabors and Trican Well Services at www.equityclock.com<\/a> <\/p>\n