By Barbara Kollmeyer, MarketWatch
Dollar strength weighs on commodities
MADRID (MarketWatch) -- Wall Street looks ready to end a winning
quarter with a whimper, with stock futures pulling back on Tuesday
as investors wait for oil-sensitive headlines on Iran and a crop of
Federal Reserve speakers.
Futures followed European markets, which tilted lower on
weaker-than-expected joblessness data. In the U.S., a trio of data
releases will include Case-Shiller home prices.
Futures for the Dow Jones Industrial Average (YMM5) pulled back
60 points to 17,800, while those for the S&P 500 (ESM5) eased
8.85 points to 2,066.75. Futures for the Nasdaq-100 (NQM5) fell
15.75 points to 4,356.50.
Stocks could be ready to take a breather after booking solid
gains for a second straight session on Monday, helped along by
dovish comments from China's central-bank chief and corporate-deal
news. Tuesday marks the end of the first quarter, and analysts said
that close could trigger some volatility as investors look to
balance the books.
The S&P 500 (SPX) is set to end the first quarter up 1.3%,
which would mark its ninth-straight winning quarter. For the month
of March, the index is looking at a 0.9% loss. Among other
highlights, the Nasdaq Composite Index (RIXF) is set to log a 4.5%
gain in the quarter, the longest quarterly winning streak in its
history.
Need to Know: Don't be the 6-foot-tall man about to drown in
this market
(http://www.marketwatch.com/story/dont-be-the-6-foot-tall-man-about-to-drown-in-this-market-2015-03-31)
Home prices and lots of Fedspeak: Data for Tuesday includes
Case-Shiller home prices for February, due at 9 a.m. Eastern Time,
while the Chicago-area purchasing managers' index for March is due
at 9:45 a.m. Eastern. At 10 a.m. Eastern, the report on consumer
confidence for March is scheduled.
Three Fed speakers are on tap. Two are voting members on the
Federal Open Market Committee: Richmond Fed Jeffrey will speak on
the economic outlook to the Greater Richmond Chamber of Commerce at
8 a.m. Eastern, while Atlanta Fed President Dennis Lockhart will
give welcoming remarks at the Atlanta Fed conference at 8:50 a.m.
Eastern.
Cleveland Fed President Loretta Mester, a nonvoting member, will
moderate a panel on the future of banking at an Atlanta Fed
conference at 8:50 a.m. Eastern.
Stocks to watch: Shares of McDonald's Corp. (MCD) could draw
some attention after the fast-food giant said it would start
testing all-day breakfasts in San Diego in April
(http://www.marketwatch.com/story/mcdonalds-to-give-all-day-breakfast-a-try-2015-03-30).
IBM Corp. (IBM) said Tuesday it plans to invest $3 billion in a
new "Internet of Things" business that will help customers gather
and analyze data from sensor-equipped devices and smartphones.
Alongside that, it announced a partnership with the Weather Company
on data analysis for businesses.
U.S. cable T.V. operator Cablevision Systems Corp.(CVC) is
eyeing a deal to buy the New York Daily News that would value the
newspaper at $1, Reuters reported, citing sources.
Other markets: European stocks retreated after data showed
eurozone unemployment was still above expectations at 11.3% in
February, after upward revisions to prior months.
Asian stocks
(http://www.marketwatch.com/story/asian-stocks-end-mixed-after-previous-china-led-rally-2015-03-31)
closed on a mixed note, but the quarter produced double-digit wins
for the Nikkei 225 index and the Shanghai Composite Index .
Dollar
(http://www.marketwatch.com/story/dollar-inches-up-against-euro-yen-as-big-data-week-kicks-off-2015-03-30)(DXY)
strength continued, helping to put pressure commodities. Oil prices
(http://www.marketwatch.com/story/oil-prices-fall-as-iran-nuclear-talks-approach-deadline-2015-03-31)(CLK5)
fell as talks over Iran's nuclear talks
(http://www.marketwatch.com/story/iran-deal-put-at-risk-by-uncertainty-over-khamenei-2015-03-31)
neared a deadline, and gold
(http://www.marketwatch.com/story/gold-weakens-for-third-straight-session-2015-03-31)(GCJ5)
marked another losing session.
Read: Oil could fall below $30 a barrel, but here's why that is
a good thing
(http://www.marketwatch.com/story/oil-could-fall-below-30-a-barrel-but-heres-why-thats-a-good-thing-2015-03-30)
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