Good morning. Here's what you need to know.
  • Asian markets were lower in overnight trading with the Nikkei down 1.47 percent, and U.S. futures are sharply lower after Friday's jobs data. European markets are closed.

  • The big story of the day continues to be Friday's job report which saw U.S. companies add just 120,000 non-farm payrolls, missing expectations of 205,000. After being closed on Friday for Easter, U.S. stocks are taking a hit today.

  • Chinese CPI climbed a more than expected 0.2 percent month-over-month in March, and 3.6 percent year-over-year. Meanwhile, PPI fell 0.3 percent from a year ago. 


  • Sony is cutting 10,000 jobs or 6 percent of its global workforce according to the Nikkei newspaper. This comes as Sony's new CEO is trying to move the company towards profit and the company is expected to lose money for the fifth year in a row.

  • Microsoft will buy over 800 patents from AOL and license another 300 for $1.1 billion.



  • North Korea is planning a third nuclear test expected to coincide with the launch of a long-range rocket. North Korea has already moved a rocket to a launch-pad and is expected to put a satellite into orbit to celebrate the centenary of the birth of Kim Il-sung.


  • U.S. lawmakers are calling for an immediate implementation of the Volcker Rule after Bloomberg reported that JPMorgan trader Bruno Iksil, also known as 'the London Whale', has a massive CDS book.