Lindsay Lohan
Kevork Djansezian/Getty Images


Good morning. Here's what you need to know.
  • Overnight trading in Asia sent markets sharply higher, with Japan's Nikkei gaining 2.4 percent, hitting the highest level since the March 11 disaster. Europe is marginally higher in morning trading and U.S. futures point to a positive open.

  • French consumer confidence surged surprisingly in March to levels not seen in more than a year. The key index advanced to 87 from 82. Meanwhile in Germany confidence is expected to decline for the first time in more than seven months, GfK said. The firm's survey fell 10 basis points to 5.9 for April.


  • Spain and Italy sold short-term debt this morning, both within targets the governments had set. Spain issued €2.588 billion in three- and six-month bills, with yields up on the longer notes. Italy sold €2.817 billion in two-year notes but saw its yield fall to 2.352 percent from 3.013 percent last month. 



  • Chinese industrial profits fell 5.2 percent over the January-February period on weakness in petrochemicals, metals and auto firms. The last time there was a year-on-year decline of this magnitude was in 2009.



  • U.S. economic announcements kick off at 9:00 a.m. with Case-Shiller home price data, which is expected to show a 0.3 percent decline in January. At 10:00 a.m. a reading of manufacturing activity by the Richmond Federal Reserve will be released. Economists polled by Bloomberg forecast continued expansion in the fifth federal district, even as the key business index falls two points to 18. .
  • Walgreens announced earnings this morning of $0.78 per share, a penny above Wall Street consensus. Prescription sales at stores open at least a year, which accounts for more than 60 percent of sales, declined 3.9 percent. Home builder Lennar also beat, with earnings per share of $0.08, against estimates for $0.05.