Dow Jones futures currently pointing higher open 39 points, Stocks May See Early Strength On Comments From China, majority traders largely focused on the latest developments overseas, Dow Jones stocks are likely to move to the upside in early trading on Wednesday.
From Aussie news we reported, Australian Consumer Sentiment Rises In February, Confidence among Australian consumers increased in February, a key survey revealed Wednesday. However, taking into consideration the last three days of the survey when the central bank disappointed consumers by refraining from another rate cut, sentiment was relatively weaker.
From Eurozone debt crisis update we reported, German Economy Shrinks; France Posts Surprise Growth, The German economy shrank for the first time since the first three months of 2009, while defying expectations for a contraction, the French economy expanded strongly.
UK Jobless Claims Rise, Unemployment Rate At 16-Year High, British jobless claims increased more than expected in January, reaching its highest level in two years, while the unemployment rate for the three months to December hit a 16-year high.
Eurozone Economy Contracts For First Time Since 2009, The Eurozone economy shrank for the first time since 2009 as escalating debt crisis and austerity measures dampened economic activity.
Respons the downgrade of Moodys, Bank Of England Raises Inflation Forecast, Sees Uncertain Recovery, Bank of England policymakers lifted the inflation forecast on Wednesday after expanding quantitative easing last week. As the economy faces substantial headwinds, the central bank expects the recovery path to be slow and uncertain.
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