From The Trading Floor: Equities are trading in positive territory this morning on a better than expected reading on Jobless Claims and continued positive 2nd quarter earnings releases
Initial Jobless Claims for the period ending August 2nd fell to 289,000 from the previously adjusted 303,000. This was the lowest since 2006
Consumer Comfort for the period ending August 3rd remained largely unchanged vs the previous period at 36.2
Consumer Credit is due to be released at 3:00 pm today.
Moscow imposed a ban on imports of many Western foods on Thursday, retaliating against sanctions imposed for its support of rebels in eastern Ukraine and the annexation of Crimea. Russia will ban fruit, vegetables, meat, fish, milk and dairy imports from the United States, the European Union, Australia, Canada and Norway in a measure that isolates its consumers from world trade to a degree unseen since Soviet days.
The European Central Bank left interest rates on hold at its latest meeting, in line with expectations.
China has suspended work at more than 250 aluminum and magnesium factories - and others that generate metal dust - for potential safety violations. The suspension is in response to the explosion at a Zhongrong Metal Products plant that killed 75 people on Saturday.
Resistance today looks to be at the 1926 / 1929 level with support at 1917 / 1920
