(As of 7:10 am PST)
The US stock market is higher to start Friday, but losses
from earlier sessions are likely to keep indexes down for the week. Economic reports today showed a slight tick
up in consumer spending and personal incomes.
The Thomson Reuters/Univ. of Michigan consumer sentiment gauge declined
to 80 in March (the lowest level since November) from a final reading of 81.6
in February. The report crossed the
wires at 7:00 am PST and had little effect on what appears to be some upward
momentum on the trading day. Asian
markets finished the day mostly higher and European indexes look as though
they’ll lock in gains as well. Rumors of
additional stimulus measures seem to be what’s propping up markets globally. Comments
from Chinese President Li indicate Beijing is ready to implement additional
stimulus programs. Also, many analysts in Europe today are suggesting that the
European Central Bank could announce additional quantitative easing at the ECB
press conference next week. Other
encouraging data on consumer sentiment in Europe is helping ease worries over
the impact the Ukraine crisis has had on neighboring Europe. Gold is down this
morning while oil is back over $102 per barrel.
Interest rates are higher as treasuries sold off on the risk trade.
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