Breakfast Bites: A jump in retail sales and consumer prices in August in addition to some carryover buying from yesterday’s QE3 announcement has equities trading in positive territory as we go into the weekend
Fed Chairman Bernanke’s pledge of Qe3 has continued to boost the markets despite some mixed economic data.
The cost of living in the U.S. climbed in August by 0.6%, the most in 3 years reflecting a surge in fuel costs.
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Breakfast Bites: Stocks are trading in measured territory this morning after reaching intraday highs yesterday, held in check by a mixed bag of economic reports and cautious in front of the Fed’s decision
The numbers of Americans filing applications for unemployment benefits rose more than projected to 382,000 last week showing little movement on the outlook for jobs.
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Breakfast Bites: Equities are trading in positive territory this morning snapping a 6 day losing streak on a Chinese GDP report that came in as expected and an earnings report out of JP Morgan that beat expectations despite a $4.4 billion trading loss
Wholesale prices in the U.S. unexpectedly rose in June by 0.1% for the first time in 4 months reflecting an increase in food costs
U.S. July University of Michigan consumer sentiment fell to 72 from 73.2 at the end of last month
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Breakfast Bites: Stocks are trading in negative territory this morning largely on less than stellar economic news in the form of PPI and retail sales and continued concern over the situation in the euro zone
Wholesale Prices in the U.S. fell by the most in 3 years driven lower by the decline in energy costs, a sign that inflation pressures are easing
Retail sales fell in May for a second month as slower employment and subdued wage gains dampened demand
Mortgage applications rose last week as refinancing reached its highest level in 3 years
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Breakfast Bites: Stocks have recovered from a quick down draft at the open due to the report of JP Morgan’s losses, helped by better than expected Consumer Confidence data for May
Wholesale prices in the U.S. fell in April by 0.2%, the first time in 4 months led by a decline in fuel costs that signals inflation may cool.
JP Morgan has taken $2 billion in trading losses in the past six weeks, stemming from bad derivatives bets
The University of Michigan Consumer Confidence index for May rose to 77.8 from 76.4 the prior month
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Stocks continued the rally for a second day, as investors’ optimism over 1st quarter earnings outweighed weaker than forecasted economic data and a worsening Euro Zone debt crisis. The Bank of Japan and several Federal Reserve (“Fed”) members speaking at various events added to buoyancy from investor expectations that central banks will provide additional stimulus to jump start the recovery.
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