From The Trading Floor; A mixed bag of economic data combined with reports of calm in Cyprus after the banks reopened have markets trading in positive territory this morning on this the last trading day of the 1st quarter.
Initial jobless claims, an indication of layoffs, increased by 16,000 to a seasonally adjusted 357,000 in the week ended March 23, the Labor Department said Thursday. That was above economists' forecast of 340,000 new claims.
The U.S. economy slowed less than previously forecasted in the 4th quarter rising at a 0.4% annual rate, reflecting a bigger gain in business spending and a smaller trade gap.
Little sign of panic as the banks opened in Cyprus called the markets throughout the world.
Pinnacle Foods (PF) priced 29 million shares last night at $20, the top of the range. The opening price on the NYSE was $22.26 on a print of 3,701,519 shares….and the red velvet cupcakes they were...
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Ahead of the Bell: Dow futures are trading down 27 points and S&P futures are trading down 5 points on this last trading session of the shortened holiday week. Investor sentiment is mixed across the globe, on concern of a potential run on Cyprus's banks, which are set to re-open today. Tight controls will be imposed on transactions by Cyprus's banks to limit cash withdrawals to no more than 300 euros ($380) per day, ban the cashing of cheques and bar businesses from transferring money abroad unless they can show it is for imports. European markets were buoyed on a report which showed that German retail sales unexpectedly rose in February.
On the economic calendar today, the Labor Department will release weekly jobless claims before the market opens, 340K is forecasted compared with 336K for the week prior. The dollar is up against the major currencies. Gold is...
The Holland Classics, Heineken, the Keukenhof, Amsterdam Canal Cruises, Zuiderzee Museum and cheese producer Henri Willig sound the gong at NYSE Euronext Amsterdam to mark the official start of the tourist season in the Netherlands.
The tourist attractions operated by the Holland Classics partners together welcome three million tourists every year. Costumed symbols of Dutch history Jacoba van Beieren of the Keukenhof, a fisherman from Urk from the Zuiderzee Museum and a girl in traditional costume serving Dutch cheese from Henri Willig attend the ceremony. Bart Siemerink, CEO Keukenhof, sounds the gong.