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Fundamental News Summary

US Session News Summary

Thu, Mar 11 2010, 21:08 GMT
by ecPulse.com analysis team

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Canada New Housing Price Index Unchanged

Canada's New Housing Price Index for January stayed unchanged at 0.4% as it was already forecasted by the market.

Canada International Merchandise Trade

Canada's International Merchandise Trade for January surplus expanded to 0.8 billion; better than the forecasted 0.2 billion and the prior revised reading of 0.1 billion from -0.2 billion.

US Trade Balance

US Trade Balance deficit for January narrowed to -37.3 billion; better than the forecasted -41.0 billion and the prior revised reading of -39.9 billion from -40.2 billion.

US Initial Jobless Claims

US Initial Jobless Claims for March 6 came in at 462 thousand; worse than the forecasted 460 thousand but lower than the prior revised reading of 468 thousand from 469 thousand, whereas the Continuing Claims for February 27 rose to 4558 thousand, which is worse than the predicted 4500 thousand and the prior revised reading of 4521 thousand from 4500 thousand.

US Stock Market

U.S. stocks finished in green territory in today’s trading session, as Democrats stated that they are so close to a final agreement on a healthcare bill, which could lead to a final vote in the next few weeks.

However, the US economy showed that the Trade balance report eased in the month of January but exports slowed, thus raising concerns among investors that the global recovery could stall due to weak demand, whereas US Trade Balance deficit for January narrowed to 37.3 billion; better than the forecasted 41.0 billion and the prior revised reading.

The Dow Jones Industrial Average index Added 44.51 points or 0.42% to close at 10611.84, The Standard & Poor’s 500 Index Added 4.63 points or 0.40% to close at 1150.24, The NASDAQ Composite Index Added 9.51 points or 0.40% to close at 2368.46.

Published on  Thu, Mar 11 2010, 21:08 GMT


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