Thursday, February 26, 2015

Economic Journal - Thursday, 2/26/2015



(As of 7:25 am PST)

Investors are wading through a slew of economic data this morning, as US equities opened slightly in the red. Data for the most part is weaker than expected which seems to be causing the negative sentiment early. Jobless claims jumped 31,000 to 313,000 last week, the highest level seen in seven weeks. Consumer prices tumbled 0.7% in January fueled by lower oil prices. Excluding the volatile food and energy sectors, core CPI inched up by 0.2%, slightly higher than expected. Lastly, a report on durable goods improved in January, but was not enough to turn equities higher. In overseas developments, Asian indexes finished the day mixed while most European stocks were higher as economic data was plentiful. Gold is higher and oil is giving back some of yesterday’s gains. Interest rates are flat today while the US dollar is higher. Barring any unexpected macro events, expect the market to continue this tight range bound trade for the remainder of the day and week.

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