Rumor On China’s First-Quarter Gross Domestic Product Pushes Dow Upwards – Acadiana Business Index
- Buyers latched on to a rumor that China's first-quarter gross domestic product, scheduled for release at Friday morning, will be better than expected.
- A round of U.S. economic data failed to impress.
- New applications for unemployment claims had their biggest weekly rise in nearly a year and were higher than expected.
- Meanwhile, the U.S. trade deficit registered its largest contraction in nearly three years in February, narrowing more than economists expected.
In corporate news,
- Global shipments of personal computers rose in the first quarter. H-P remained the top PC maker by volume.
- And, Google rose 2.4% ahead of the Internet giant's first-quarter results.
- Light sweet crude settled at $103.64 a barrel.
- And, gold closed at $1,680 an ounce.