- Initial jobless claims fell 32,000 last week, the largest drop in more than 10 years and, though the Labor Department says there are no special factors involved,
- Market quickly reversing yesterdays gains and more. If you got long yesterday, you're most likely out now. The bulls really needed today to confirm yesterdays move. If you're a bull, this morning's action is quite concerning.......but the day has only begun.
- Chinese exports tumbled 6.6% on year in March, which represented an improvement from an 18.1% plunge in February, although consensus was for growth of 4%. Imports slumped a worse-than-expected 11.3%, while the trade balance swung to a surplus of $7.71B from a deficit of $22.98B
- Tesla Motors intends to begin selling its electric cars in China this month, with spokesman Simon Sproule saying that CEO Elon Musk will "personally" do customer deliveries. Musk reckons that China can be Tesla's (TSLA) largest market, although Barclays analyst Brian Johnson retains some skepticism. "While we expect strong initial interest from early adopters in China...we see challenges to broader luxury market adoption," Johnson wrote this week.
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