Wall Street looks poised to extend its rally this morning as leaders of the world's largest economies begin a meeting to tackle the global financial crisis. The positive sentiment is in part due to an improved tone at the G-20 meeting and additional optimism on the economic front.
March auto sales yesterday were clearly dismal, but they did bounce significantly from even more dismal February numbers. The annual sales rate of autos and trucks rose from 9.1 million to 9.9 million. The auto sales report and other recent data add to the hopes that consumer spending is stabilizing.
New claims for the week ending March 28th rose to 669,000 from 657,000. This was much higher than the expected rise of 650,000. The unexpected rise adds to the argument of a higher unemployment rate, which will be released tomorrow. The employment situation is clearly weak, but labor market conditions trail the overall economic trends and the market will likely focus more on the improving economic indicators.
- Harrington Wealth Management
- Our firm provides comprehensive trust and investment management services by employing a customized asset allocation approach. By focusing on the individuality of each client, Harrington Wealth Management Company has helped high net worth individuals, families, and small institutions grow and sustain their wealth through proven investment practices since 1994. A fee-only advisor, we also offer other financial services from our offices in California, Kansas and Indiana that include custody, estates, land trusts, probate administration, guardianships, personal trust administration, retirement plan services, and investment consulting services.
