Fed Has Ammunition For Continued Easing
Edited by Ray Hennessey
Of DOW JONES NEWSWIRES
(Call Us: 201 938-5299; All Times Eastern)
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8:39 (Dow Jones) Overall, Thursday data point to weaker spending, slackening
labor market, and low wholesale inflation. Claims now up to almost 400K, and
retail sales clearly trending lower. Fed seems to have justification for
more easing and inflation isn't in the way (BB)
8:35 (Dow Jones) Consumer spending was weaker than expected. March retail
sales down 0.2%, ex-auto down 0.1%. Probably not enough to spark
intermeeting rate cut talk, but suggests more easing is needed to prop up
consumption. (BB)
8:30 (Dow Jones) Stocks look to open higher, though this morning is likely
to be dominated by economic data, notably the one-two punch of producer
price and retail sales data, with jobless claims to come later. Anything
that might suggest more fears of a recession could rock stocks. Among
big-name earnings news, GE (GE) met 1Q operating estimates of 30 cents a
share. (RJH)
(END) DOW JONES NEWS 04-12-01
08:39 AM
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