Focusing on just the US, the key economic releases are CPI, retail sales, PPI, empire manufacturing, import & export price index, building permits, housing starts, industrial production and U. of Michigan sentiment.
Dropbox has filed the terms of its long-awaited IPO, according to which it aims to raise as much as $648 million, by marketing 36 million shares range from $16 to $18 apiece, resulting in valuation between $7 and $7.9 billion.
A New Zealand businessman is said to be the frontrunner to replace Gary Cohn as Donald Trump's top economic adviser. Tthe President is said to be "strongly considering" Christopher P. Liddell, who works as an assistant to Trump and director of strategic initiatives, for Gary Cohn's now vacant job.
The little guys, tough from hard labor, are employed to push the money bags of the rich to the top of the mountain from which the little guys are allowed to jump off.
There was good and bad news in the just released payrolls report: on one hand, February payrolls soared by a whopping 313K, smashing expectations of 205K, but on the other, the closely watched hourly earnings missed, rising only 2.6%, below the 2.8% expected by consensus.
“Our Granite City Works facility and employees, as well as the surrounding community, have suffered too long from the unending waves of unfairly traded steel products that have flooded U.S. markets,” said Burritt.
As trade war fears ease (again) following news late on Wednesday that the White House would consider tariff "carve outs" for Canada and Mexico, markets are modestly higher ahead of fresh monetary policy unknowns from the ECB this morning.
"The financial commentariat and the robo-machines are all in a tizzy because Gary Cohn up and quit. But we say good riddance: The man gave Trump bad advice on nearly every single issue - trade, taxes, fiscal policy and the Fed."
"Alas, now the last Jedi has fallen... The departure signals the defeat of anti-protectionism, or reduces the influence of anti-protectionism.... Of all the Trump administration resignations, this will be the one most meaningful for markets."
"The market reaction to Gary Cohn’s resignation as Trump’s top economic adviser has been surprisingly resilient. That won’t sustain. Equity markets will suffer more in the days ahead."
“It has been an honor to serve my country and enact pro-growth economic policies... I am grateful to the president for giving me this opportunity and wish him and the administration great success in the future."
