What you need to know before the US open
US markets are expected to open higher today, following some reassuring news on US consumers.
Personal income increased marginally more than expected last month (0.3 per cent), and personal spending was in line at 0.3 per cent.
Later, we’ve got the Reuters/Michigan consumer sentiment index reading for March. It’s expected at 80.5, from 81.6 in February.
Meanwhile, Standard and Poor’s has warned that growing tensions between Russia and the West could prompt a wave of capital flight, hitting the rouble with a 10 per cent loss against the dollar.
Corporate news
Tesla’s said it’s fitting titanium shield on its Model S cars to prevent car fires. Explaining the move in a blogpost on Medium, chief executive Elon Musk said they’d also be fitted free-of-charge to currently used cars.
Standard Chartered’s cut its bonus pool by 13 per cent to $1.2bn (£700m) in 2013. CEO Peter Sands’ pay was trimmed by more than a third after a weak year.
Blackberry’s said it’ll reach break-even cash flows next year, as it carries on moving away from a smartphone focus.
In Europe
Germany's inflation rate (just in) was 1.0 per cent in March from a year earlier, slightly below the 1.1 per cent expectation and February’s 1.2 per cent reading. Harmonised, it came in at 0.9 per cent.
Month-on-month, the consumer price index rose 0.3 per cent – again, just missing expectations (0.4 per cent).
Economic sentiment in the EU picked up in March, with the sharpest monthly increase since April 2009. The Netherlands, Spain, Italy, France and Germany all saw more cheerful outlooks.
Data in focus
• 1.55pm: US March Uni of Michigan consumer confidence