Chief executive officers of 16 companies, including Boeing Co, Caterpillar Inc and General Electric Co, have urged the U.S. Congress to pass a comprehensive tax code rewrite, including a controversial border tax.
There wasn’t much in the way of economic data today and U.S. stock markets are closed because of Presidents’ Day holiday. Stating the obvious here, but it has been a rather quiet and dull day in the markets. Things will hopefully pick up from Tuesday, although Wednesday is likely to be most important day of the week – certainly for the dollar – due to the release of the FOMC’s last meeting minutes.
European stocks rose on Monday, with gains in telecoms and banks offsetting a big fall in Unilever, while the dollar dipped as uncertainty over politics and the timing of a U.S. interest rate rise kept investors nervous.
Imagine if, at the start of the week, I had told you the following: Top-tier US data would be unanimously strong, with solid readings on inflation (CPI and PPI), retail sales, and a 30-year high in the Philly Fed Manufacturing index.
World stocks hit an all-time high on Thursday as the latest round of robust global data matched hopes that major economies like the United States will soon be serving up large helpings of fiscal stimulus.
U.S. retail sales rose more than expected in January as households bought electronics and a range of other goods, pointing to sustained domestic demand that should bolster economic growth in the first quarter.