Wednesday, April 13, 2011

Quick Overview

  • U.S. retail sales rose 0.4%, falling short of pre-report expectations of 0.5%.

  • Investors were buying more silver than ever, underpinning prices that are already at record highs, says the head of Bombay Bullion Association.

  • Obama vowed to cut $4 trillion in cumulative deficits within 12 years through a combination of spending cuts and tax increases.

  • The EU antitrust regulator on Wednesday fined consumer goods giants Procter & Gamble (PG) and Unilever (UL) a total of 315.2 million Euros for fixing prices of washing powder.

  • China is expected to raise interest rates another two times in the second quarter of this year in an effort to counter persistent inflation pressures, a chief government economist said Wednesday.

  • France recorded YoY inflation of 2 % in March, up from 1.7% a month ago.

  • The Japanese earthquake may be having more of an impact on the U.S. economy than previously believed, according to the Federal Reserve’s latest Beige Book.

  • The U.S. government on Wednesday ordered 16 of the nation's largest mortgage lenders and servicers to reimburse homeowners who were improperly foreclosed upon.

  • The DOE said:
  • Crude oil stocks rose 1.6 million barrels.
  • Gasoline stocks fell by 7.0 million barrels.
  • Distillate stocks fell by 2.7 million barrels

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