Mar E-mini S&Ps (ESH17 -0.14%) this morning are down -0.16% ahead of speeches today from Fed Chair Yellen and Vice Chair Fischer that may add to the recent hawkish Fed commentary that increases the chances of a Fed rate hike later this month. European stocks are up +0.46% at a 1-1/4 year high on reduced political risks in France after polls showed French Presidential candidate Macron jumped ahead of anti-euro candidate Le Pen for the first time. The Odoxa survey of first-round voting intentions showed Macron’s support rose +2 points to 27% and Le Pen’s support fell -1.5 points to 25.5%. The easing of French political risks reduced safe-haven demand for German bunds which fell to a 2-week low and for gold as Apr COMEX gold (GCJ17 -0.49%) dropped -0.42% to a 2-week low. Asian stocks settled lower: Japan -0.49%, Hong Kong -0.74%, China -0.36%, Taiwan -0.45%, Australia -0.81%, Singapore -0.45%, South Korea -1.06%, India -0.03%. Fed rate hike fears undercut Asian stocks with China’s Shanghai Composite falling to a 1-1/2 week low. Chinese stocks will look to headlines from the annual Chinese People’s Political Consultative Conference, an advisory body of political elites and business executives, that begins today in Beijing.

The dollar index (DXY00 -0.25%) is down -0.21%. EUR/USD (^EURUSD) is up +0.33%. USD/JPY (^USDJPY) is up +0.08%.

Jun 10-year T-note prices (ZNM17 -0.10%) are down -2 ticks.

The Japan Feb consumer confidence index unexpectedly fell -0.1 to 43.1, weaker than expectations of +0.3 to 43.5.

Japan Jan national CPI rose +0.4% y/y, right on expectations. Jan national CPI ex-fresh food rose +0.1% y/y, stronger than expectations of unch y/y. Jan national CPI ex food & energy rose +0.2% y/y, right on expectations.

Eurozone Jan retail sales of -0.1% m/m and +1.2% y/y was weaker than expectations of +0.3% m/m and +1.5% y/y.

Key U.S. news today includes: (1) revised Feb Markit services PMI (expected +0.1 to 54.0, prelim-Feb -1.7 to 53.9), (2) Feb ISM non-manufacturing PMI (expected unch at 56.5, Jan -0.1 to 56.5), (3) Chicago Fed President Charles Evans (voter) and Richmond Fed President Jeffrey Lacker (non-voter) speak on a panel at the Chicago Booth School’s Monetary policy forum in New York, (4) Fed Governor Jerome Powell speaks on innovation, technology and the payment system at a roundtable hosted by Yale Law School on blockchain: the future of finance and capital markets, (5) Fed Vice Chair Stanley Fischer delivers a speech at the Chicago Booth School’s Monetary policy forum in New York, (6) Fed Chair Janet Yellen speaks on the economic outlook at an Executive Club of Chicago event.

Notable Russell 1000 earnings reports today include: AdvanSix.

U.S. IPO’s scheduled to price today: none.

Equity conferences: Simmons Energy Conference on Thu-Fri.

GoPro (GPRO -1.59%) slipped nearly 2% in pre-market trading after Citigroup initiated a ‘Sell’ on the stock with a target price of $ 8 citing a ‘deteriorating neighborhood.’

Costco Wholesale (COST +0.07%) dropped over 4% in after-hours trading after it reported Q2 EPS of $ 1.17, below consensus of $ 1.36,

Autodesk (ADSK -1.81%) lost nearly 2% in after-hours trading after it said it sees full-year revenue of $ 2.00 billion to $ 2.05 billion, weaker than consensus of $ 2.20 billion.

Guidewire Software (GWRE -0.14%) rose almost 3% in after-hours trading after it said it sees full-year revenue of $ 491 million-$ 499 million, higher than consensus of $ 489.4 million.

American Outdoor Brands (AOBC -0.36%) slid over 4% in after-hours trading after it said it sees full-year net sales of $ 874 million to $ 894 million, below consensus of $ 921.6 million.

Wingstop (WING -1.30%) dropped 8% in after-hours trading after it reported Q4 system-wide domestic comparable sales rose +1.0%, weaker than consensus of +3.5%.

Habit Restaurants (HABT +0.36%) climbed 6% in after-hours trading after it reported Q4 adjusted EPS of 7 cents, above consensus of 3 cents.

Nutanix (NTNX +1.27%) plunged nearly 15% in after-hours trading after it said expects a Q3 adjusted loss of -45 cents to -48 cents a share, wider than consensus of -35 cents.

Marvel Technology (MRVL -0.50%) rose 2% in after-hours trading after it reported Q4 adjusted EPS of 22 cents, higher than consensus of 19 cents, and then said it sees Q1 adjusted EPS continuing operations of 19 cents to 23 cents, better than consensus of 17 cents,

HMS Holdings (HMSY -1.09%) tumbled over 8% in after-hours trading after it delayed its 10-K filing when the company’s auditor identified what it believes is a material weakness over financial reporting related to its internal controls.

VTTI Energy Partners LP (VTTI -0.27%) rose over 3% in after-hours trading after it received a buyout offer from VTTI B.V. for $ 18.75 a unit.

Builders FirstSource (BLDR +4.20%) lost 2% in after-hours trading after it announced a secondary offering of 10 million shares of common stock.

Immersion (IMMR -4.13%) dropped over 15% in after-hours trading after it reported a Q4 adjusted loss of -27 cents a share, wider than consensus of -17 cents, and then said it sees 2017 revenue of $ 38 million-$ 42 million, below consensus of $ 54.1 million.

Bill Barrett (BBG +0.18%) slumped 11% in after-hours trading after it reported a Q4 adjusted loss of -18 cents a share, wider than consensus of -12 cents.

Mar E-mini S&Ps (ESH17 -0.14%) this morning are down -3,75 points (-0.16%). Thursday’s closes: S&P 500 -0.59%, Dow Jones -0.53%, Nasdaq -0.51%. The S&P 500 on Thursday closed lower on long liquidation in stocks after hawkish comments from Fed Governor Powell increased the chances of a Fed interest rate increase at this month’s FOMC meeting when he said the case for a rate increase at this month’s FOMC meeting has “come together.” There was also weakness in energy producing stocks after crude oil prices fell -2.27% to a 3-week low. On the positive side, U.S. weekly jobless claims unexpectedly fell -19,000 to 223,000, better than expectations of +1,000 to 245,000 and the fewest in 44 years.

Jun 10-year T-notes (ZNM17 -0.10%) this morning are down -2 ticks. Thursday’s closes: TYM7 -7.00, FVM7 -6.00. Jun 10-year T-notes on Thursday dropped to a 2-week low and closed lower on hawkish comments from Fed Governor Powell who said the case for a rate increase in March has “come together, and I don’t think it’s on the table for discussion.”

The dollar index (DXY00 -0.25%) this morning is down -0.21 (-0.21%). EUR/USD (^EURUSD) is up +0.0035 (+0.33%). USD/JPY (^USDJPY) is up +0.09 (+0.08%). Thursday’s closes: Dollar index +0.42 (+0.41%), EUR/USD -0.0040 (-0.38%), USD/JPY +0.68 (+0.60%). The dollar index on Thursday climbed to a 1-1/2 month high and settled higher on the unexpected drop in U.S. weekly jobless claims to a 44-year low and the increase in the 10-year T-note yield to a 2-week high, which improves the dollar’s interest rate differentials.

Apr WTI crude oil prices (CLJ17 +0.23%) this morning are up +13 cents (+0.25%) and Apr gasoline (RBJ17 +0.76%) is +0.0127 (+0.77%). Thursday’s closes: Apr crude -1.22 (-2.27%), Apr gasoline -0.0347 (-2.07%). Apr crude oil and gasoline on Thursday closed lower with Apr crude at a 3-week low. Crude oil prices were undercut by the rally in the dollar index to a 1-1/2 month high and by negative carry-over from Wednesday’s EIA data that showed a +0.3% increase in U.S. crude production in the week of Feb 24 to 9.032 million bpd, an 11-month high.