Econ data: 09 week 15
Market continue to rise with bad (but better than expect) economic data as well as better than expect 1q09 results.
Econ data1. Retail market
- US Feb wholesale inventories down -1.5% from -0.7% in Jan (better than expect -0.7%). Lower inventories means lower storage cost and higher consumer spending. It may also mean retailers keep lesser inventory due to lower future expected sales;
- US Mar export price ex ag. down -0.3% from down -0.1% in Feb;
- US Mar import price ex oil down -0.7% from down -0.7% in Feb;
- US Feb trade balance down -$26B from down -$36.2B (better, $36B);
Job market
- US 04/04 Inital jobless claim down to 654k from 674k last week (same, 660k)
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