On The Fly: Morning Wrap-Up for February 28 Globex S&P futures are recently down 1.10 from previous day’s SPX cash close. Nikkei 225 down 0.55%, DAX up 0.03%. WTI Crude oil is recently at $102.05, natural gas down 0.84%, gold at $1328 an ounce, and copper down 0.75%.
Japan retail sales rose 4.4% y/y in January Japan retail sales rose 4.4% y/y in January, extending the 2.5% (revised from 2.6%) y/y rise in December. Sales at large retailers rose 0.1% y/y in January. Japan industrial output rose 4.0% m/m in January (prelim) after the 0.9% m/m rise in December.
Japan Manufacturing PMI (Markit/JMMA) fell to 55.5 Japan Manufacturing PMI (Markit/JMMA) fell to 55.5 in February from 56.6 in January. The February release is the eleventh reading above the key 50.0 expansion/contraction threshold since last April despite dropping from January.
Fed Balance Sheet Reserve Bank credit data reported Week of 2/26 Fed Balance Sheet Reserve Bank credit at $8.4B
U.S. Chicago PMI Preview U.S. Chicago PMI Preview: The February Chicago PMI report is out on Friday and analysts expect the headline to decline to 56.0 (median 57.0) from 59.6 in January. After two headline misses in the Empire State and Philly Fed releases for the month analysts expect to see further declines in the remaining releases as analysts discussed in Monday's commentary.