Wall Street Slipped After Many Economic Data (April 14th, 2009)

U.S. stock market experienced a decline at the opening. This decrease was caused by some bad news that appeared on Wall Street. Some of them are the decline in retail sales, wholesale prices, and in auto sales.

The Commerce Department said that retail sales declined about 1.1 percent in March, lower than the analyst prediction that the retail sales will increase 0.3 percent.

In addition, the Labor Department said that wholesale prices also experienced a decline about 1.2 percent in March. The decline was caused by a drop in the cost of gasoline, energy products and foods.

And the worse, the auto sales declined around 2.3 percent in March, indicated that the automotive companies still face its difficult period.

Although the news is not good enough today, but Ben Bernanke still said that these are signs that the recession will ended. Let's wait and stay alert..

Posted in: News