(as of 7:30 AM PST)
Markets are flat this
morning. Economic data has generally
been positive but lacking the catalyst to propel markets forward. Jobless claims were up slightly, in line with
expectations. The US trade deficit was
higher, indicating a negative for GDP estimates going forward. The non-manufacturing ISM number came in
strong. This key data point reflects
some 75% of the US economy, so the positive number is a strong indicator of
future growth. Conflicting data points
to a quiet day in markets. The good
economic reports will likely prevail and lead to a solid but unspectacular
gain. Gold is down half a percent while
oil is close to unchanged. The US dollar
is stronger against most other currencies.
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