(As of 7:15am, PST)
The markets are struggling to find footing today in
early trading after finishing another day in the green on Wednesday. Both the
Dow and S&P500 were up yesterday for the third straight session this week
but that may be a different story today. There is a mixed bag of market moving
news out there today for investors to chew on. Earnings season has kicked into
full gear and the theme has been a “better than expected” theme with most
companies beating expectations. General Motors Inc. and Under Armor Inc. both exceeded
forecasts while Verizon shares dropped after reporting soft revenue results.
Economic reports out today were mixed. The labor market continues to look
strong with a weekly jobless claims report falling to the lowest level since
1973. Meanwhile, the Philadelphia Fed Index for the month of April revealed
that the manufacturing sector continues to struggle. European stocks fell into
the red following an announcement from ECB President Draghi that he would leave
key lending rates unchanged. The markets overseas are still reacting to his
comments in a Q&A session before closing out the trading day. Oil is
dropping today after several days in rally mode.
Note:
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