Market Flash: Market Up

Breakfast Bites: Equities are higher this morning despite the release of jobless claims that topped analyst’s estimates fueling speculation that the Fed will continue to stimulate growth.

  • The Trade deficit in the U.S. narrowed more than forecast in February as imports fell by the most in 3 years reflecting the smallest amount of crude oil purchases in 15 years and a drop off in demand for Chinese goods.

  • More Americans than forecast filed claims for jobless benefits last week (380,000), the most since January 28th,  a sign the pace of improvement in the labor market is slowing

  • Producer prices was unchanged in March as a drop in gasoline costs offset rising food prices, according to the Labor Department. Economists surveyed had expected a gain of 0.3 percent.

  • The Bloomberg Consumer Confidence Index was -32.8 in the period ending April 8th, near a 4 year high as more Americans said their finances were in better shape.

  • Three IPO’s set to trade on the NYSE this morning. Forum Energy (FET), pricing 18.9 million shares at $20, RC Global (MRC), priced 22.7 million shares at $21 and  Oaktree Capital (OAK) priced 8.84 million shares at $43.00

  • Italy sold EUR4.995 billion ($6.55 billion) worth of Treasury bonds, just under the maximum targeted amount of EUR5 billion. The yield on 10-year Italian government bonds held steady

  • Euro-zone industrial production rose 0.5% on the month in February, compared with expectations of a 0.2% decline