Bookings increased 3.1 percent, exceeding economists' predictions, after gaining 1.4 percent in the prior month, the Commerce Department said today in Washington. Excluding transportation equipment, demand rose 1.9 percent after no change in February.
The Federal Reserve, forecasting improved second-half growth, is counting on a bigger contribution from business spending while housing remains in recession. Today's numbers come a day after the Institute for Supply Management said manufacturing expanded more than forecast last month.
``Investment looks like it picked up at the end of the first quarter, leaving good momentum,'' said Jonathan Basile, an economist at Credit Suisse in New York. ``The Fed will be encouraged by the improvement, given that business spending has been a concern.''
Earlier today, a report showed U.S. companies added the fewest jobs in almost four years in April. The 64,000 increase in payrolls was the least since July 2003 and followed a revised gain of 98,000 in March, ADP Employer Services said. The report is based on data from 364,000 businesses with about 22 million workers on their payrolls.
Discussios: Why 1 week ago there are bundles of NEGATIVE news arrousing the Dow Jones such as Growth Concern, CPI, etc... But now seem turn the others way. It seem the Bubble in Dow Jones is automatically release pressure and the market continue to pump up again. A 59 points corrections is there enough for the 'Elephant' to move further upward in short term ?
All in all, the most idiot are the others markets , why they willing to be cheated all this while by keep using their country asset to buy up the USD? why must they all peg with USD but not gold or Euro? Why not we follow back the Bretton wood system? All this while is NOT the gold' price hiking but is the USD depreciating since .....
Trade Idea: Never Short the market if the Elephant refuse to come down ........