U.S. equity markets finished fractionally lower on Thursday, snapping a four day winning streak amid softer-than-expected economic data ahead of tomorrow’s non-farm payrolls report. Healthcare, Discretionary, and Tech led declines on the S&P 500, while Energy, Utilities and Telecom outperformed. Gold prices sank and the greenback rose in the wake of the European Central Bank’s decision to leave interest rates unchanged.
Data from Challenger showed Layoff announcements in March totaled only 34,399, well down from February's 41,835 and from 49,255 in March last year. The latest total is one of the lowest of the recovery and points to positive momentum in the jobs market. Of note, Q1 2014 as a whole, at 121,341, is the lowest first quarter since 1995.
The number of Americans filing new claims for unemployment benefits rose more than expected last week, the Labor Department said on Thursday. ...
In celebration of the transfer of the listing of its common stock to the New York Stock Exchange in December 2013, Hanover, Md.-based Ciena Corporation (NYSE: CIEN) led by President and CEO Gary B. Smith and members of the company’s leadership team, will visit the New York Stock Exchange and ring The Opening Bell® on April 3, 2014. In conjunction with the ceremony, Ciena will host its Investor Day from the NYSE, which will be live webcast via the company’s website at http://investor.ciena.com beginning at 10:30 a.m. ET.
From The Trading Floor: Markets are fluctuating this morning with the benchmark indexes trading near record highs as jobless claims and services miss estimates.
Job cuts as measured by Challenger, Grey and Christmas decreased by -30.2% during March
The Trade Balance decreased the most in 5 months declining by -$42.3 billion as exports of fuels and capital equipment dropped
Initial Jobless Claims for the period ending March 29th increased to 329,000
Consumer Confidence climbed last week to -30 up from a 2 month low
US March Non-Manufacturing Composite rose to 53.1 from the previous periods 51.6
China has unveiled another mini-stimulus package as part of an attempt to stabilize slowing growth and maintain confidence. The announcement comes even as the government looks to reform the economy so that it relies less on the state sector. The program includes selling 150B yuan ($24.6B...
Ahead of the Bell: Dow futures are trading up 8 points and S&P futures are trading up 2 points. U.S. stock index futures were little changed on Thursday, after the S&P 500 set a record for a second straight day, ahead of data on the labor market and services sector. The Institute for Supply Management (ISM) non-manufacturing index for March will be the main point of interest on Thursday. The index, which tracks changes in the services sector, unexpectedly fell in February, and analysts at Barclays are expecting a rebound to 52.5 for last month. Across the pond, the European Central Bank looks set to keep interest rates steady and offer no new aid to the euro zone's fragile recovery despite a fall in inflation to its lowest in more than four years.
Merel van Vroonhoven has been appointed for a period of four years as the new chairman of the board of the Netherlands Authority for the Financial Markets (AFM).
Merel van Vroonhoven (1968) has been a member of the Supervisory Board of Dutch Railways since 2009, prior to which she worked at ING. There, she was responsible, as member of the General Management of Nationale Nederlanden, for the Collective Pensions Operations from 2002 to 2007, and from 2007 onwards as member of the management committee of ING Investment Management Europe.