THURSDAY 3/5/15; China NPC Announcements; BOE Rate Decision; ECB Rate Decision and Press Conference; COST; KR; JOY; Productivity and Costs; Factory Orders; CKP; COO; TFM; Initial Bank Stress Test Results

The NIKK futures point to a flat start. The SPASX200 begins trading to the downside losing -0.4%. Traders are anxious to hear the GDP projection for China for this year after the NPC meeting concludes.

The SPASX200 closes flat on the day. Aussie retail sales and other data indicate a sluggish slow-growth economy. The NIKK finishes 

















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........ scandal over using a private email server for conducting United States business is gaining traction. By law, her correspondence should be public record. Clinton has a big problem on her hands since she is ignoring US law but wants to be president. Both democrats and republicans are corrupt to the core in Washington. The system is broken.

A unit train (105 cars) loaded with crude oil derails near Galena, Illinois, 160 miles west of Chicago, with several cars exploding into a ball of flames. Families residing near the accident evacuate the area. The BNSF (Burlington Northern Santa Fe) train is owned by billionaire Warren Buffett. President Obama refuses to approve the Keystone XL Pipeline project, a safer way to transport oil, which would create thousands of jobs in the Midwest. Instead, the president vetoes the pipeline bill in favor of supporting his billionaire buddy Buffett and the dangerous train accidents continue. This is the third crude oil train accident in the last month. The accidents threaten human life as well as harming the environment especially since rail lines run alongside waterways.

Late in the evening US mainland time, Fed’s Williams speaks in Honolulu assuming a hawkish stance saying, “The Fed should not wait too long to raise interest rates.”  Williams is concerned the Fed will be too slow to raise rates running the danger of drastically overshooting the inflation target. This scenario would cause the Fed to raise rates quicker and cause market disruptions.