European Economic News Preview: Germany Industrial Output Data Due

Industrial production from Germany and investor confidence from the euro area are the top economic news due on Monday.

At 2.00 am ET, Destatis is scheduled to issue Germany’s industrial output for March. Economists forecast industrial production to fall 1.3 percent on a monthly basis, following a 2 percent rise in February.

In the meantime, foreign trade data from Finland and manufacturing output from Denmark are due.

At 4.30 am ET, Eurozone Sentix investor confidence survey results are due. The economic sentiment index is expected to improve to -8.0 in May from -8.7 in April.

At 5.00 am ET, foreign trade figures are due from Greece.

Man dead after northeast Denver shooting, police seek help from public

One man is dead after a shooting in northeast Denver, and Denver police homicide investigators on Monday appealed to the public for help identifying a suspect.

The shooting happened shortly before midnight Sunday in the Green Valley Ranch housing development near the intersection of Himalaya Way and Fundy Street, police said in a posting on Twitter.

No arrests have been, and police asked that anyone with information call their agency’s anonymous tip line at 720-913-7867.

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By Florence Fabricant

Treasuries Extend Last Friday's Sharp Pullback

Following the sharp pullback seen during Friday’s session, treasuries saw further downside during trading on Monday.

Bond prices came under pressure in early trading and remained firmly negative throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 7.5 basis points to 3.521 percent.

The ten-year yield added to the 9.5 basis point jump seen in the previous session, continuing to regain ground after hitting its lowest closing level in almost a month last Thursday.

The extended pullback by treasuries came as traders continued to react to last Friday’s monthly jobs report, which showed stronger than expected job growth in the month of April.

Trading activity remained somewhat subdued, however, as traders looked ahead to the release of key inflation data later in the week.

The reports on consumer and producer price inflation, which are due to be released on Wednesday and Thursday, respectively, could have a significant impact on the outlook for interest rates.

Ahead of the data, CME Group’s FedWatch Tool is currently indicating an 84.5 percent chance the Federal Reserve will leave interest rates unchanged at its next meeting in June.

Fed Chair Jerome Powell said following last week’s rate hike that the central bank would take a “data-dependent approach” to future monetary policy decisions.

Trading activity may remain relatively subdued on Tuesday amid another quiet day on the U.S. economic front.

ICU Medical Q1 Earnings Summary

Below are the earnings highlights for ICU Medical (ICUI):

Earnings: -$9.8 million in Q1 vs. -$38.1 million in the same period last year.
EPS: -$0.41 in Q1 vs. -$1.61 in the same period last year.
Excluding items, ICU Medical reported adjusted earnings of $1.74 per share for the period.

Analysts projected $1.43 per share
Revenue: $568.6 million in Q1 vs. $543.1 million in the same period last year.

International Flavors And Fragrances Inc Q1 Earnings Summary

Below are the earnings highlights for International Flavors And Fragrances Inc (IFF):

Earnings: -$9 million in Q1 vs. $244 million in the same period last year.
EPS: -$0.04 in Q1 vs. $0.96 in the same period last year.
Excluding items, International Flavors And Fragrances Inc reported adjusted earnings of $222 million or $0.87 per share for the period.

Analysts projected $0.87 per share
Revenue: $3.03 billion in Q1 vs. $3.23 billion in the same period last year.

-Guidance:
Next quarter revenue guidance: $3.0-$3.1 bln

Oil Futures Settle Sharply Higher On Renewed Optimism About Demand

Crude oil prices climbed higher on Monday amid some optimism about the outlook for energy demand thanks to last week’s fairly encouraging non-farm payrolls data.

West Texas Intermediate crude oil futures for June ended higher by $1.82 or about 2.6% at $73.16 a barrel.

Brent crude futures settled at $77.01 a barrel today, gaining $1.71 or about 2.3%.

Data from the Labor Department on Friday showed the U.S. economy added 253,000 jobs in April compared with 165,000 jobs in March. Economists had expected an addition of 180,000 jobs in April.

The unemployment rate in the U.S. dropped to 3.4% from 3.5%. Economists had expected the rate to rise to 3.6%.

Primerica, Inc. Reveals Rise In Q1 Profit, but misses estimates

Primerica, Inc. (PRI) reported earnings for its first quarter that increased from the same period last year but missed the Street estimates.

The company’s bottom line totaled $125.1 million, or $3.38 per share. This compares with $115.0 million, or $2.91 per share, in last year’s first quarter.

Analysts on average had expected the company to earn $3.47 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 0.2% to $690.0 million from $691.2 million last year.

Primerica, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $125.1 Mln. vs. $115.0 Mln. last year.
-EPS (Q1): $3.38 vs. $2.91 last year.
-Analyst Estimate: $3.47
-Revenue (Q1): $690.0 Mln vs. $691.2 Mln last year.