From The Trading Floor: Equities fluctuating between positive and negative territory this morning aided by a better than expected Retail Sales number for February, but held in check by investors wanting to book profits
Mortgage applications dropped last week by -4.7% as higher mortgage rates prompted a decline in refinancing and home purchases
Sales at U.S. retailers rose in February by 1.1%, the most in 5 months as an improved job market and stronger household finances cushioned the effect of higher payroll taxes. Sales Less Autos & Gas up 0.4% vs. consensus of 0.3% for the month
The Import Price Index for February rose by 1.1%
Business Inventories rose in January by 1%, the most since May 2011
Silver Spring Networks priced 80.75 million shares at $17.00 last night. The opening print this morning was $22.00 on a print of 570,415 shares.
Ahead of the Bell: Dow futures are trading down 32 points and S&P futures are trading down 4 points. Dueling budget plans debut in Washington after congressional leaders offered up a vastly different proposal than the one introduced by President, Barack Obama to reduce the deficit. Both plans are unlikely to get approval and raised fresh new doubts whether a compromise on taxes and spending could be realized. Investors have temporarily turned cautious as Italy is set to auction off its first long-term debt today, since its latest downgrade.
On the economic calendar today, retail sales for February will be out before the market opens, it is forecasted 0.5% compared with 0.1% for January. Import and export prices for February will also be out prior to the opening bell; it is forecasted to be 0.2% versus 0.3% for January.
The dollar is up against euro and the Japanese yen and down against the...
On March 28th, for the fourth time the Amsterdam Business Award is awarded.
The Amsterdam-based company whose performance has contributed the most to the region this year will take home the 2013 Amsterdam Business Award. With a list of previous winners that includes Olcay Gulsen of Supertrash, Hans Brouwer of Massive Music and Raymond Cloosterman of Rituals, the bar is high. Nominees Effectory, ImproveDigital and Youmedical visit Beursplein 5 to take part in the gong ceremony. Jaimie van Heije, head chef of the eponymous restaurant in Ouderkerk aan de Amstel, who will be cooking for the awards ceremony dinner on 28 March, sounds the gong. The Amsterdam Business Award is organised by MeerBusiness Amsterdam.