OVERNIGHT MARKETS AND NEWS

June E-mini S&Ps (ESM15 +0.11%) this morning are up +0.12% and the Jun E-mini Nasdaq is up +0.65% at a 15-year nearest-futures high, led by a 3% increase in Microsoft, who reported better-than-expected Q3 profits. European stocks are up +0.57% after German Apr IFO business confidence rose more than expected to a 10-month high. The 10-year Greek bond yield fell to a 1-week low of 11.84% on signs of a resolution to the Greek debt crisis after ECB President Draghi said "progress on Greece has been achieved" in the last few days. Asian stocks closed mixed as they consolidated this week's sharp gains: Japan -0.83%, Hong Kong +0.84%, China -0.47%, Taiwan +1.18%, Australia +1,51%, Singapore +0.29%, South Korea -0.56%, India -1.07%.

Commodity prices are mixed. Jun crude oil (CLM15 -0.42%) is down -0.12% and Jun gasoline (RBM15 +0.37%) is up +0.60%. Metals prices are mixed. Jun gold (GCM15 -0.64%) is down -0.27% and May copper (HGK15 +1.35%) is up +1.15% after weekly Shanghai copper inventories fell -22,550 MT, the biggest decline this year, to a 2-month low of 208,285 MT. Agriculture prices are weaker with May corn down -0.54% to a 5-week low on concern the recent Bird-Flu outbreak will reduce demand for corn used in animal feed.

The dollar index (DXY00 -0.05%) is down -0.07% at a 2-week low. EUR/USD (^EURUSD) is down -0.02% as it fell back from a 2-week high after Jeroen Dijsselbloem, head of the Eurozone finance ministers, said that there were still "wide differences" between Greece and its creditors. USD/JPY (^USDJPY) is down -0.03%.

Jun T-note prices (ZNM15 -0.07%) are down -3.5 ticks.

The German Apr IFO business climate rose +0.7 to 108.6, stronger than expectations of +0.5 to 108.4 and the highest in 10 months.

U.S. STOCK PREVIEW

Key U.S. reports today include: (1) March durable goods orders (expected +0.6% and +0.3% ex-transportation after Feb's -1.4% and -0.6% ex-transportation).

There are 13 of the S&P 500 companies that report earnings today with notable reports including: American Airlines (1.70), State Street (1.05), Interpublic (-0.03), Tyco (0.49), Ventas (1.15), Biogen (3.88), Simon Property (2.25), DTE Energy (1.53).

U.S. IPO's scheduled to trade today include: Apigee Corp (APIC).

Equity conferences today: none.

OVERNIGHT U.S. STOCK MOVERS

State Street (STT +0.33%) reported Q1 EPS of $1.17, above consensus of $1.05.

Biogen (BIIB +1.58%) reported Q1 EPS of $3.82, less than consensus of $3.88.

Juniper (JNPR -1.60%) reported preliminary Q1 adjusted EPS of 32 cents, better than consensus of 31 cents.

Unisys (UIS +0.99%) reported a Q1 EPSloss of -87 cents, a smaller loss than consensus of -92 cents.

Reinsurance Group (RGA -0.30%) reported Q1 operating EPS of $1.77, less than consensus of $1.83.

Hanesbrands (HBI +1.35%) reported Q1 adjusted EPS of 22 cents, below consensus of 23 cents.

C.R. Bard (BCR +0.66%) reported Q1 adjusted EPS of $2.10, better than consensus of $2.07.

Robert Half (RHI -0.34%) reported Q1 EPS of 58 cents, stronger than consensus of 56 cents.

Chicago Bridge & Iron (CBI +2.98%) reported Q1 EPS of $1.21, above consensus of $1.14.

Newmont Mining (NEM +2.99%) reported Q1 adjusted EPS of 46 cents, double consensus of 23 cents.

Hawaiian Holdings (HA -2.36%) reported Q1 EPS of 38 cents, higher than consensus of 33 cents.

Chubb (CB +0.49%) reported Q1 operating EPS of $1.57, better than consensus of $1.52.

Principal Financial Group (PFG -0.81%) reported Q1 EPS of $1.09, above consensus of $1.05, although Q1 revenue of $2.54 billion was below consensus of $2.57 billion.

Capital One (COF +0.12%) reported Q1 EPS of $2.00, higher than consensus $1.88, but Q1 revenue of $5.6 billion was below consensus of $5.7 billion.

Microsoft (MSFT +0.81%) climbed 3% in after-hours trading after it reported Q3 EPS ex-items of 62 cents, well above consensus of 51 cents.

Starbucks (SBUX +2.28%) reported Q2 EPS of 33 cents, right on consensus, although Q2 revenue of $4.60 billion was higher than consensus of $4.53 billion.

Amazon.com (AMZN +0.05%) jumped over 5% in after-hours trading after it reported a Q1 EPS loss of -12 cents, a smaller loss than consensus of -13 cents.

Google (GOOG +1.42%) reported Q1 EPS of $6.57, weaker than consensus of $6.60.

MARKET COMMENTS

June E-mini S&Ps (ESM15 +0.11%) this morning are up +2.50 points (+0.12%). Thursday's closes: S&P 500 +0.24%, Dow Jones +0.11%, Nasdaq +0.36%. The S&P 500 on Thursday closed mildly higher on (1) carry-over support from a continued rally in Asian stocks as Japan's Nikkei Stock index rose to a 15-year high and China's Shanghai Composite Index rose to a new 7-year high, and (2) strength in technology stocks with a new 15-year high in the Nasdaq Index. The stock market shook off negatve news including the -11.4% plunge in U.S. March new home sales and the -0.4 point drop in the China Apr HSBC flash manufacturing PMI to a 1-year low of 49.2.

Jun 10-year T-notes (ZNM15 -0.07%) this morning are down -3.5 ticks. Thursday's closes: TYM5 +9.00, FVM5 +5.50. Jun T-notes on Thursday closed higher on the -11.4% drop in U.S. March new home sales to a 4-month low and the rise in initial unemployment claims to a 7-week high.

The dollar index (DXY00 -0.05%) this morning is down -0.065 (-0.07%) to a 2-week low. EUR/USD (^EURUSD) is down -0.0002 (-0.02%). USD/JPY (^USDJPY) is down -0.04 (-0.03%). Thursday's closes: Dollar Index -0.654 (-0.67%), EUR/USD +0.0099 (+0.92%), USD/JPY -0.325 (-0.27%). The dollar index on Thursday closed lower on the weaker-than-expected U.S. March new home sales and initial unemployment claims reports and on strength in EUR/USD on ideas that Eurozone and Greek officials may be closing in on a bailout agreement.

Jun WTI crude oil (CLM15 -0.42%) this morning is down -7 cents (-0.12%) and Jun gasoline (RBM15 +0.37%) is up +0.0119 (+0.60%). Thursday's closes: CLM5 +1.58 (+2.81%), RBM5 +0.0670 (+3.48%). June crude oil and gasoline prices Thursday rallied to 4-month highs and closed sharply higher on continued technical buying and on concern of escalation of violence n the NMiddle East after Saudi Arabia resumed its bombing of Shiite rebels in Yemen.

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