Thursday, April 16, 2009

Many Economic Data Mixed Wall Street (April 16th, 2009)

Stock market was increased when opened, but decrease again now. Both of good and bad news have affected Wall Street. Some of them were about jobless report, housing starts, and JP Morgan Chase's first quarter report.

The Labor Department said that this week the unemployment claims dropped to a seasonally adjusted 610.000, and this was below the analysts' expectations. This unexpected result was indicated that the job sector has experienced an improvement. But on the other side, the new housing starts met a sharp decline. The Commerce Department said that housing starts fell 10.8 percent to a seasonally adjusted annual rate of 510,000 units in March.

But behind all the not-good-enough news above, there is always a good enough news. JP Morgan Chase reported its $2.14 billion profit on record revenue of $26.9 billion (from January until March). Although these profit are not as much as in last year, but it showed that bank sector have had their lives again..

So stay alert and always think positive!


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