Initial claims jumped back to 397,000, concensus was for 380,000.$ strength based on Euro zone weakness. Trade deficit soared to $46B, $40B expected will cause a downward revivision to GDP.
Higher pump prices will cause a pullback in some consumer spending. TXN, NFLX, FNSR, JDSU and several other high tech names dissapointing and being taken down, FNSR fell over 30%yesterday.
Chinese exports dissapointed
"Chinese February Trade Surplus Drops So Much It Becomes Deficit, Largest In 7 Years"
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