UPDATED 7:15 am ET
STOCKS – European stocks dropped, following the Stoxx Europe 600 Index’s largest decline in a month yesterday, as investors awaited U.S. reports on housing starts and consumer confidence. U.S. index futures were little changed, while Asian shares retreated.
BONDS – Treasuries declined for the first time in four days before reports today that economists said will show a gauge of consumer confidence rose to a 10-month high in May and the pace of housing starts accelerated last month.
COMMODITIES – Crude Oil was set for a second weekly gain after Cushing stockpiles fell.
CURRENCIES – The yen headed for its first back-to- back weekly gain in more than three months as signs of fragility in some of the world’s biggest economies spurred demand for the Japanese currency.
ECONOMIC DATA – US Housing Starts and Building Permits due at 8:30, Prelim UoM Consumer Sentiment at 9:55 ET.
