Briefing

• US Market Futures
  • S&P, Nasdaq futures significantly below fair value.
  • Points to a sharply lower opening.
• US Economic Data
  • Initial jobless claims fell by 9,000 to 202,000 (below consensus).
  • Continuing jobless claims decreased by 25,000 to 1.841 million.
  • Trade deficit widened to $57.3 billion in February (above consensus).
• Geopolitical Concerns
  • Iran conflict fears escalated after President Trump's address.
  • US intelligence doubts Iran's willingness for talks.
  • Oil prices surged $9.23 (+9.2%) to $109.35 per barrel.
• Corporate News
  • Trump administration to announce new tariffs on drugmakers.
  • Amazon in talks to acquire Globalstar.
• Asian Markets
  • Mostly lower due to Iran conflict concerns.
  • Japan's Nikkei down 2.4%, South Korea's Kospi down 4.5%.
  • Japan's 10-yr JGB yield at 20-year high.
  • Australia's trade surplus significantly beat expectations.
• European Markets
  • Major indices trade in the red.
  • Persisting worries about Iran conflict ahead of Easter weekend.
  • BoE Governor cautioned against rate hikes; ECB expected to hike.
  • France's budget deficit widened.