OVERNIGHT MARKETS AND NEWS

December E-mini S&Ps (ESZ15 +0.40%) are up +0.37% and European stocks are up +0.22% as better-than-expected company Q3 earnings results gives the market a boost. Texas Instruments and Ebay are both up over 8% in pre-market trading and are leading the overall market higher after reporting strong Q3 earnings results. The markets now await the conclusion of today’s ECB meeting and whether ECB President Draghi will signal if the central bank is moving toward more stimulus. Asian stocks settled mixed: Japan -0.64%, Hong Kong -0.63%, China +1.45%, Taiwan -0.01%, Australia +0.30%, Singapore +0.41%, South Korea -0.81%, India closed for holiday. China’s Shanghai Composite closed higher on signs the government is set to expand funds for infrastructure projects to bolster growth, while Japan’s Nikkei Stock Index closed lower, led by losses in pharmaceutical stocks, after a short-seller report on Valeant Pharmaceuticals International roiled U.S. health-care stocks.

The dollar index (DXY00 +0.06%) is up +0.08% at a 1-1/2 week high. EUR/USD (^EURUSD) is down -0.19% at a 1-1/2 week low on speculation ECB President Draghi may signal an expansion of QE at his press conference today following the ECB meeting. USD/JPY (^USDJPY) is down -0.18%.

Dec T-note prices (ZNZ15 -0.06%) are down -3.5 ticks.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly initial unemployment claims (expected +10,000 to 265,000, previous -7,000 to 255,000) and continuing claims (expected +32,000 to 2.190 million, previous -50,000 to 2.158 million), (2) Sep Chicago Fed national activity index (expected +0.21 to -0.20, Aug -0.92 to -0.41), (3) Aug FHFA house price index (expected +0.5% m/m, Jul +0.6% m/m), (4) Sep existing home sales (expected +1.5% to 5.39 million, Aug -4.8% m/m to 5.31 million), (5) Sep leading indicators (expected unch, Aug +0.1%), (6) Oct Kansas City Fed manufacturing activity (expected -1 to -9, Sep +1 to 8), (7) the Treasury’s auction of $7 billion 30-year TIPS.