Monday, April 19, 2010

Quick Notes for the Day - April 19

March Leading Indicators Rise - The Conference Board reported that the index of leading economic indicators rose 1.4% in March versus 0.4% in February. This was the twelfth consecutive month of improvement. Going forward, the strength of demand "remains the big question," said Ken Goldstein, economist at the Conference Board. "Improvement in employment and income will be the key factors in whether consumers push the recovery on a stronger path."

Oil Falls to 3-week Low - Crude oil dropped about 2.5% on Monday to below $81 for the first time since late March. Oil was reacting to the continued concerns over fraud charges against Goldman Sachs which is the largest commodities broker. There are concerns that the investigations could move beyond just the mortgage sector within Goldman.

Citigroup profit $4.4 billion, tops Street view - Reuters - "Citigroup Inc posted a $4.43 billion first-quarter profit, its best result in more than two years, as the global economic recovery lifted the values of its worst assets and allowed the bank to set aside less money to cover credit losses."

Goldman faces pressure, reform momentum grows - Reuters - "Goldman Sachs Group Inc faced rising regulatory and legal pressure on Monday as allegations that the bank duped clients fueled momentum for regulatory reform on both sides of the Atlantic."

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