From The Trading Floor: Equities are trading in mixed territory this morning after housing starts sank 16% in January and in anticipation of the Fed minutes scheduled to be released at 2:00
Producer prices in the U.S. increased in January by 0.2% led by gains in food and Pharmaceuticals.
Housing Starts fell 16% in January to 888,000 indicating the harsh winter is playing a role in the slowing projects.
Building Permits fell short of forecast, rising by 937,000 lower than the consensus number of 975,000.
US equities were higher on Wednesday, extending the rally from the prior session as a better-than-expected Empire Manufacturing index, upbeat earnings from Bank of America and an increased global growth forecast from the World Bank raised sentiment. Of the major S&P 500 sectors, Telecom and Financials topped gains, while Energy and Utilities led declines. Gold is lower while Crude oil and the dollar are higher.
From The Trading Floor: Stocks are trading in the green this morning after the World Bank raised its global growth forecast and manufacturing in the New York region expanded more than estimate during January
Mortgage Applications for the week ending January 10th rose to a one month high, climbing 11.0% as purchases and refinancing accelerated
Empire Manufacturing rose by 12.51 for January
Wholesale prices in the U.S. climbed in December (0.4%) for the 1st time in 3 months to cap the smallest annual increase in 5 years.
US stock indices finished mixed and relatively flat on Friday as the markets weighed recent economic data and ongoing speculation over Fed stimulus policy ahead of next week's FOMC meeting. Materials and Industrials led stocks higher on the S&P 500, while Energy and Telecom topped declines. Oil is Lower, Gold is higher, and although currently flat.. the U.S. dollar rallied mid-session to touch a five-year high against the yen.
From The Trading Floor: Equities in recovery mode this morning, on a better than expected Jobless Claims number, ending the longest losing streak in 8 weeks
Applications for unemployment benefits in the U.S. declined to the lowest level in almost 2 months. Jobless Claims in the week ending November 16th dropped by 21,000 to 344,000.
From The Trading Floor: Despite consumer confidence plunging to a 6 month low, stocks are trading up, boosted by a new round of positive earnings and the secure feeling the Fed would maintain their bond purchases
Retail sales in the U.S. outside of auto dealers climbed by 0.4% in September, indicating households were sustaining the economic expansion before the government shutdown
Wholesale prices in the U.S. unexpectedly dropped in September as food costs retreated.