Markets: News  

S&P futures vs fair value: +11.90. Nasdaq futures vs fair value: +115.30. The S&P 500 futures trade 12 points, or 0.3%, above fair value.Equity indices in the Asia-Pacific region ended Thursday on a mostly higher note. Hitachi may reportedly sell its metals division to a group led by Bain Capital for about $8 bln. The People's Bank of China is reportedly concerned about a boom in housing debt hindering the country's economy. Yonhap reported that South Korea's finance minister hinted at implementing measures aimed at deterring speculation. In economic data: Japan's February Current Account surplus JPY2.917 trln (expected surplus of JPY1.966 trln; last surplus of JPY647 bln). March Household Confidence 36.1 (last 33.9) and March Economy Watchers Current Index 49.0 (last 41.3) Hong Kong's March Manufacturing PMI 50.5 (last 50.2) New Zealand's April ANZ Business Confidence -8.4 (last -4.1) ---Equity Markets--- Japan's Nikkei: -0.1% Hong Kong's Hang Seng: +1.5% China's Shanghai Composite: +0.1% India's Sensex: +0.2% South Korea's Kospi: +0.2% Australia's ASX All Ordinaries: +1.0% Major European indices trade near their flat lines. Italy's economy minister said that the country's auto and steel sectors may be protected from falling into foreign ownership. Spain's economy minister said that his government will cut its outlook for 2021. The European Commission hopes for an agreement on a global tax by the summer. In economic data: Eurozone's February PPI 0.5% m/m (expected 0.6%; last 1.7%); 1.5% yr/yr (expected 1.4%; last 0.4%) Germany's February Factory Orders 1.2% m/m, as expected (last 0.8%). March IHS Markit Construction PMI 47.5 (last 41.0) U.K.'s March Construction PMI 61.7 (expected 54.6; last 53.3) France's February trade deficit EUR5.30 bln (last deficit of EUR4.20 bln) and February Current Account deficit EUR2.60 bln (last deficit of EUR2.00 bln) ---Equity Markets--- STOXX Europe 600: +0.5% Germany's DAX: +0.1%U.K.'s FTSE 100: +0.4% France's CAC 40: +0.3% Italy's FTSE MIB: -0.4% Spain's IBEX 35: -0.2%