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Daily Market Report
U.S. stock futures leaned higher on Monday morning
Mon, May 12 2008, 12:32 GMT
by Wachovia Research Team
U.S. stock futures leaned higher on Monday morning as a result of U.S. dollar strength in European trading hours and the release of an upbeat market analysis.
The Wall Street Journal quoted a U.S. official in saying the Bush administration is leading an international effort to put a floor under the falling U.S. dollar. The report follows a story published last week, which had US and European officials united in wanting a stronger U.S. currency.
Most data released last week was better that expected with consumer spending still increasing, although at a slower pace, stronger than expected productivity growth and a much larger than expected improvement in the trade deficit for the 1st quarter.
US data this week is likely to be mixed and includes retail sales on Tuesday, CPI numbers on Wednesday, industrial production on Thursday and housing starts on Friday.
Global data includes UK CPI and unemployment figures on Wednesday and Thursday respectively, and Japan's annualized GDP on Friday.
Published on Mon, May 12 2008, 12:35 GMT
Archive
- Economic releases out today include U.S. Initial Jobless Claims
Published On Thu, Jul 24 2008, 12:32 GMT - The U.S. dollar rose to a one month high against the yen
Published On Wed, Jul 23 2008, 12:21 GMT - The U.S. dollar fell against most major currencies this morning
Published On Tue, Jul 22 2008, 12:18 GMT - Asian currencies were largely stronger this morning
Published On Mon, Jul 21 2008, 12:17 GMT - There are no major economic releases in the U.S. today
Published On Fri, Jul 18 2008, 13:28 GMT
Wachovia Corporation
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