Breakfast Bites: Manufacturing weakness / contraction in Europe and China has so far trumped some positive domestic data in the form of Jobless Claims, Consumer Comfort and Leading Indicators as investors remain wary of the Global picture
- Jobless claims decreased by 5,000 to 348,000 in the week ended March 17, the fewest since February 2008
- A gauge of European Manufacturing fell to 47.7 as factory output shrank in Germany and France
- Chinese manufacturing slipped to 48.1 in March, the lowest level in 4 months
- The Bloomberg Comfort Index was -34.9 in the period ending March 18th, reaching a 4 year high over the previous period
- January House Price Index is unchanged
- The Index of U.S. leading Indicators rose in February by the most in 11 months signaling that the world’s largest economy will continue to strengthen.
- ExactTarget begins trading on the NYSE pricing at $19 and opening at $23.05
- Vantiv begins trading on the NYSE today pricing at $17 and opening at $19.
- While March Madness continues tonight, let’s not forget that the Frozen Four begins tomorrow with Boston College as the #1 seed!!