What you need to know before the US open
15 May 2014 1:59pm
A subdued open is expected for US markets today, with stocks futures suggesting little change.
Consumer prices rose 0.3 per cent in April from March, predominantly on food prices, meaning the annual rate of inflation’s risen to two per cent.
And jobless claims have shown that just 297,000 signed on for unemployment benefit for the first time last week. Economists were expecting just a small drop from 321,000 to 320,000. That puts continuing jobless claims at 2.667m.
The euro’s seen further losses on yesterday’s rumours that the European Central Bank is preparing a package of easing measures, to be delivered at its June meeting.
And the International Monetary Fund’s warned that France will struggle to meet its budget deficit targets, after reporting flat growth for the first quarter.
Walmart felt the chill of the US’s harsh winter, with net profits falling five per cent to $3.6bn in the first quarter.
GM’s recalled another 2.7m cars. 2.44m of the recalls are due to problems with the wiring in brake lamps, the firm said.
And store owner JC Penney is reporting first quarter earnings after hours today.
Data in focus
• 2.00pm: US March total net TIC flows
• 2.15pm: US April industrial production
• 3.00pm: US May NAHB housing market index