Stock futures are pointing to a higher open as the market looks to extend its winning streak. Russian President signed an order to have Crimea officially become part of Russia despite the West not recognizing it. No economic data is slated to be released today, leaving a void for investors. However, five initial public offerings are scheduled to take place today. The syndicate calendar has been very active, giving market pundits reasons to suspect that the market may be getting a bit frothy. The CBOE Volatility Index (VIX) fell again as stocks spent yesterday’s session in positive territory. Volatility should remain muted today as little movement is expected at March expiration today.
Treasuries are up slightly with the 10-year note at 2.77%. Trading was light, especially with Japanese markets closed, and there wasn't much action from overseas where markets are mixed. European shares There is no data on the U.S. calendar today. A heavy dose of Fed-speak today will mostly be centered on monetary policy, which could take on greater interest in the wake of the Fed's updated policy forecasts and Yellen's slight slip on 6-months as "considerable time."
Stock Stories:
Nike (NKE) –Broken stride – The athletic apparel maker posts better than expected earninigs last night as they beat on EPS and Revenue. Currency headwinds will impact FY15 results which has negatively affected the stock this morning. Despite a great report, the shares are off 3.5% in the pre-market.
