U.S. Retail Sales Fall, Jobless Claims Up
Sales at U.S. retailers unexpectedly fell in July and the number of workers filing new claims for jobless benefits rose last week, indicating the recession-hit economy faced a bumpy recovery.
Source:
http://www.nytimes.com/reuters/2009/08/13/business/business-uk-usa-economy.html
http://money.cnn.com/2009/08/13/markets/markets_newyork/
World markets: Wall Street looked set to track global markets, which advanced after Germany and France both pulled out of their recessions. Both posted unexpected GDP growth for the second quarter.
Fed: The better-than-expected readings out of Europe came a day after the Fed said the long decline for the U.S. economy appears to have ended. The central bank said the economy was "leveling out."
Retail: But the latest data on retail sales could cast gloom over Thursday trading.
Retail sales slipped 0.1% in July, which was much worse than expected. While the decrease was mild, economists were expecting an increase. Economists pooled by Briefing.com expected July gains of 0.7%, compared to June gains of 0.8%.
Wal-Mart Stores (WMT, Fortune 500) reported its same-store sales slipped 1.2% in the second quarter of fiscal year 2010. But the retailer said its profit, of 88 cents per share, was at the top end of its forecast.
Economy: The U.S. government said initial jobless claims increased in the week ended Aug. 8, contrasting with expectations of a decrease. Jobless claims totaled 558,000 that week, an increase of 4,000 from the prior week. A consensus of economists compiled by Briefing.com had forecasted 545,000 claims for the week.
Money and oil: The dollar slipped versus the yen, the euro and the British pound. The price of oil jumped 90 cents a barrel to $71.06. To top of page
With all other local problems, and FIIs withdrawing their money I read it as we are not going to cross the 4700 mark soon. We might see a pull back again tomorrow after a great jump today.
What are your views?
Sales at U.S. retailers unexpectedly fell in July and the number of workers filing new claims for jobless benefits rose last week, indicating the recession-hit economy faced a bumpy recovery.
Source:
http://www.nytimes.com/reuters/2009/08/13/business/business-uk-usa-economy.html
http://money.cnn.com/2009/08/13/markets/markets_newyork/
World markets: Wall Street looked set to track global markets, which advanced after Germany and France both pulled out of their recessions. Both posted unexpected GDP growth for the second quarter.
Fed: The better-than-expected readings out of Europe came a day after the Fed said the long decline for the U.S. economy appears to have ended. The central bank said the economy was "leveling out."
Retail: But the latest data on retail sales could cast gloom over Thursday trading.
Retail sales slipped 0.1% in July, which was much worse than expected. While the decrease was mild, economists were expecting an increase. Economists pooled by Briefing.com expected July gains of 0.7%, compared to June gains of 0.8%.
Wal-Mart Stores (WMT, Fortune 500) reported its same-store sales slipped 1.2% in the second quarter of fiscal year 2010. But the retailer said its profit, of 88 cents per share, was at the top end of its forecast.
Economy: The U.S. government said initial jobless claims increased in the week ended Aug. 8, contrasting with expectations of a decrease. Jobless claims totaled 558,000 that week, an increase of 4,000 from the prior week. A consensus of economists compiled by Briefing.com had forecasted 545,000 claims for the week.
Money and oil: The dollar slipped versus the yen, the euro and the British pound. The price of oil jumped 90 cents a barrel to $71.06. To top of page
With all other local problems, and FIIs withdrawing their money I read it as we are not going to cross the 4700 mark soon. We might see a pull back again tomorrow after a great jump today.
What are your views?
