The U.S. economy’s fourth-quarter slowdown was less severe than previously estimated, but corporate profits fell, indicating that 2016 started on uneven footing.
U.S. energy firms this week cut oil and natural gas rigs for a 14th week in a row to the lowest level since at least 1940, data showed on Thursday, as energy firms continue to slash spending as part of the deepest energy price rout in a generation.
Sales increased 2 percent to a 512,000 annualized pace following a 502,000 rate in January that was stronger than previously reported, Commerce Department figures showed Wednesday. Demand is in line with last year’s pace, indicating residential construction will remain a source of support for the economy.
Next Trading Day's Important Events
- 15:30 (GMT 3) US Core CPI
- USDJPY: 113.09
- EURUSD: 1.1168
- S&P 500: 2,035.94
- NASDAQ : 4,773.5