Mar 31, 2014

Morning Market Report

An interesting week ahead for the markets thanks to news from China, the US and the RBA.

The market is up 37 points.  The Dow Jones was up 59 at 16,323.  The market opened strongly after positive leads from Europe and continued speculation of economic stimulus in Europe and China. Weakness in the afternoon was blamed on position squaring ahead of quarter end. The market traded in a 150 point range.

US economic data was positive — Consumer spending rose 0.3% in February (previous 0.2%) and income also rose 0.3% (previous 0.3%), both in line with expectations. The Thomson Reuters/University of Michigan consumer sentiment index rose to 80 although it was lower than expected.

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