Economic Data, Retail Sales and Oil Prices - This is What You Need to Know
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:
- Who Might Buy CNN?
- Robert Kiyosaki Reveals One Huge Financial Mistake Millennials Make
- Here's What the Property Brothers Want Millennials to Know About Buying a Home
- Best Luxury Hotel Amenities for the Business Traveler
Don't miss the best videos of the week. Put Wall Street on Rewind and sign up for our weekly newsletter.
