- Stock futures point to a flat to slightly higher open, as volatility in the dollar continues to cause nervousness; S&P and Nasdaq +0.1%, Dow flat.
- Dollar weakness set in after February durable good orders came in below expectations, showing widespread weakness with nearly every major sector registering a decline.
- U.S. crude oil has climbed out of the red and is currently +0.4% at $47.65/bbl.
- Pre-market action has been quiet, with the major exception Kraft's (+34%) merger with Heinz, with Kraft shareholders expected to receive a $16.50/share special dividend when the deal closes; the health care sector should enjoy early support from Merck (+1.3%), which announced a new $10B buyback program.
- Treasury prices inch forward, with the 10-year yield lower by a basis point at 1.86%.
- Still ahead: EIA petroleum inventories