Bernard Arnault made $620.3 million yesterday, what did you do?
The Bloomberg Consumer Comfort Index rose to its highest level since April 2008 with a reading of -36.7. Last week the index was at -38.8, while a year ago it stood at -44.5.
Australian February employment falls 15.4K vs. expectations for a gain of 5K. The unemployment rate edges up to 5.2% from 5.1%. Only yesterday, the RBA left rates unchanged, but said a persistent rise in unemployment would merit a cut. The aussie slides on the news, -0.4% at $1.0542. Shares in Sydney +0.5%. (via Seeking Alpha)
At the close: Dow +0.64% to 12841. S&P +0.71% to 1353. Nasdaq +1% to 2939.
Treasurys: 30-year -0.31%. 10-yr -0.12%. 5-yr -0.12%.
Commodities: Crude +1.43% to $106.2. Gold +0.79% to $1685.35.
Currencies: Euro +0.27% vs. dollar. Yen +0.32%. Pound -0.1%.
Higher oil prices likely will knock a quarter-point to a half-point off GDP, prompting the Fed to go “very easy” with monetary policy, Goldman’s Jan Hatzius tells CNBC. The Fed will “keep rates low for a very, very long time, and it’s more likely than not they will engage in another round” of QE. He also predicts tomorrow’s nonfarm payrolls will show 200K jobs created. (via Seeking Alpha)