(As of 7:15 am PST)
The US stock market opened higher this morning as
investors welcomed a round of upbeat economic reports. First off, retail sales climbed 0.3% in
February, the first time in over 3 months as the increase reflected broad based
gains across the retail sector.
Secondly, a report on jobless claims showed a surprise drop in the
number of people filing for unemployment benefits last week. Jobless claims fell 9,000 to 315,000 marking
the lowest level in 3 months. The
positive US data helped stomach another round of disappointing data out of
China. China on Thursday reported industrial production slowed to 8.6% growth
in January versus 9.7% the month prior while retail sales dipped to 11.8% from
13.6%. Today’s reports added to recent data that suggests China’s economic
growth is slowing. Asian and European
markets were mixed on the day.
Ukraine-Russia tensions are continuing to add caution to the
international markets. Gold and oil
prices are lower today as is the US dollar. Interest rates are slightly
higher.
No comments:
Post a Comment