Information received since the Federal Open Market Committee met in December indicates that the labor market has continued to strengthen and that economic activity has continued to expand at a moderate pace. Job gains remained solid and the unemployment rate stayed near its recent low.
This morning’s GDP and Durable Goods figures will be a focus for economists as an indications of growth follow through from last quarter and provide greater color for the next FOMC meeting and the impact on rate hike scheduling.
The U.S.-based Equity Markets are pointing to a higher open this morning. Asian markets closed mostly higher in the overnight session. European markets are mostly higher heading into the afternoon session.
The U.S.-based indices closed lower this afternoon. Asian stocks closed mostly lower in the overnight session as equities in Europe closed mixed this morning. With a somewhat volatile trading session, equity markets paired the initial weakness.