Economic Data, Retail Sales and Oil Prices - This is What You Need to Know

Bargain-hunting investors return to global equity markets on the back of stronger U.S. economic data
Author:
Publish date:

This is what you need to know on Thursday:

1. Bargain-hunting investors return to global equity markets on the back of stronger U.S. economic data.

2. Stronger-than-expected retail sales data and modestly faster inflation underpinned bullish sentiment on growth in the world's biggest economy yesterday.

3. Investors remain concerned about over-valued equities and the near-term prospects of U.S. tax reform as House Republicans continue to criticise a Senate version of reforms that would delay corporate reductions and possibly remove the "individual mandate" provision -- which essentially compels Americans to purchase health insurance -- from the Affordable Care Act.

4. Global oil prices added modest gain to their previous levels in overnight trading, even as the U.S. Energy Information Administration reported a bigger-than-expected 1.9 million barrel increase in domestic crude stocks yesterday.

5. Investors will get a chance to test the market's underlying strength today with quarterly earnings from retail giants Wal-Mart (WMT) - Get Report  and Best Buy Co. (BBY) - Get Report .

Watch More with TheStreet:

Don't miss the best videos of the week. Put Wall Street on Rewind and sign up for our weekly newsletter.