Breakfast Bites;The last trading day for the quarter is feeding on some good karma, the result of the Euro zone raising the regions bailout fund overseas in combination with an increase in consumer confidence and spending domestically.
- Consumer spending in the U.S. rose in February to 0.8% the most in 7 months showing the biggest part of the economy is getting stronger.
- Personal Income advanced less than expected (0.2%) sending the savings rate to a more than 2 year low.
- The Institute for Supply Management – Chicago said that its business barometer fell to 62.2 in March from a 10 month high of 64 in February.
- The University of Michigan final index of consumer sentiment for March rose to 76.2 from 75.3 at the end of last month
- Euro zone finance ministers agreed on a temporary increase in their financial rescue capacity to prevent a new flare-up of the region’s debt crisis.
- Last day of the quarter today. Tighten your chin strap for some heavier volumes and increased volatility.