From The Trading Floor: Markets have come out of the gate in positive territory, taking an early cue from European trading but boosted by better than expected jobless claims as the S&P now nears its all time high.
The number of Americans filing applications for unemployment benefits unexpectedly dropped to 332,000 last week to the lowest in almost 2 months, adding to the theory that the labor market is improving.
Wholesale prices in the U.S. climbed in February for a second month to 0.7% reflecting a jump in energy costs that are now dissipating
The Commerce Department said the current account deficit fell to $110.4 billion, from an upwardly revised $112.4 billion in the third quarter. That represented 2.8 percent of gross domestic product, unchanged from the third quarter, and tied for the lowest since 2.5 percent in the second quarter of 2009
U.S. Weekly Consumer Comfort Index for the week ending...
Ahead of the Bell: Dow futures are trading up 17 points and S&P futures are trading up 3 points. Confidence is building that the US economy might be getting back on track with the surprisingly positive retail data yesterday, coupled with February's non-farm payroll report last week. According to reports, economists now believe the economy is on course to grow about 2.5% in the first quarter of 2013. Both political parties in Washington still remain far apart over the budget negotiations on spending cuts, despite efforts by President, Barack Obama to convince congressional leaders of his proposal.
On the economic calendar today, the Labor Department will release weekly jobless before the market opens, 350K is expected compared with 340K for the week prior. Producer price index for February will also be out prior to the opening bell, 0.6% is expected versus 0.2% for January.
Lara Muller, Head of CSR at Corio, opens trading to celebrate the start of the Responsible Investment Corporate Access event in Amsterdam.
Fair Impact and Tradinfo have organized the first RICA Amsterdam Conference on "Trends and Opportunities in Resource Efficiency".The RICA Conference represents a unique occasion for listed companies, investors and experts to discuss the latest issues on the next step in Resource Efficiency, such as: leads to new businesses, impact assessment of corporates & institutions and sustainable lending. NYSE Euronext hosts RICA Amsterdam.
Stocks ended higher as investors digested positive economic news as the U.S. dollar climbed to a seven month high on Wednesday. A weak Italian bond auction and disappointing data on euro zone factory output hurt the euro.
On the economic front, retail sales in February were strong, up 1.1%, despite payroll tax increases and delayed income tax returns. The bump came from gasoline prices and auto sales.
A heavy build in retail vehicles is a major factor behind business inventories rise of 1.0%. The 1.9% increase in retail auto & parts reflects strong demand for autos.