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US Initial Jobless Claims:
In the week ending April 2, the figure for seasonally adjusted initial jobless
benefit claims was 382,000, a decrease of 10,000 from the previous week's
revised figure of 392,000. The 4-week moving average was 389,500, a dip of 5,750
from the previous week's revised average of 395,250.
The number for seasonally adjusted insured unemployment during the week ending
March 26 was 3,723,000, a drop of 9,000 from the preceding week's revised level
of 3,732,000. The 4-week moving average was 3,745,750, a decline of 24,000 from
the preceding week's revised average of 3,769,750.
Dell: Dell
Computer today announced it is increasing its investments in new technology
solutions and services that will help customers innovate and drive business
results in the Virtual Era. In its current fiscal year, Dell will invest $1
billion (USD) to deliver leading solutions, services and cloud-based delivery
options to help customers capture the benefits from new compute and information
delivery advancements.
Over the next 24 months, Dell will build multiple highly efficient data centres
around the world to provide its customers access to public and private cloud
technologies and its world-class IT outsourcing capabilities. Bringing together
Dell’s technology and services prowess with state-of-the-art capabilities from
its partners, these new data centres will allow customers to take advantage of
Infrastructure-, Platform- and Virtual Desktop-as-a-Service offerings as well as
IT outsourcing.
Japan: The
Japanese meteorological agency has issued a tsunami warning for a wave of up to
one metre after the country's stricken northeastern coast was hit by a strong
aftershock. Officials say the quake was a 7.4-magnitude and hit 25 miles under
the water and off the coast of Miyagi prefecture. The quake that preceded last
month's tsunami was a 9.0-magnitude.
Authorities said that the nuclear power plants in the area, included the
stricken Fukushima Daiichi nuclear plant, were already shut down and that no
emergency was being issued, according to broadcaster NHK.
The Bank of Japan said today the nation's economy
is under strong downward pressure due to the impact of the disaster and has
decided on a ¥1trn ($12bn) loan program to support quake-hit areas.
The central bank discussed the effects of the disaster and the nuclear accident
on the economy in its two-day policy board meeting.
The BOJ's statement issued after the meeting on Thursday says that Japan's
economy is under strong downward pressure, mainly on the production side, due to
the effects of the disaster.
It says the quake has sharply dampened production by damaging production
facilities in some areas, disrupting the supply chain, and constraining the
electric power supply.
The market falls 100 points and recovers after news of Japan being hit by a 7.4 magnitude earthquake, with CNBC's Tyler Mathisen & Scott Wapner. And CNBC's Sharon Epperson discusses the quake's impact on the oil markets. Gordon Charlop, Rosenblatt Securities, and Warren Myers, Warren Meyers, DME Securities, and CNBC's Rick Santelli discuss the rebound:
US Markets
In New York Thursday, the Dow
fell77 points or 0.62% to 12,349.
The S&P 500 slid 0.53% and the
Nasdaq slipped 0.48%.
Democrats and Republicans in Washington trade barbs in the budget battle. CNBC's John Harwood discusses the excuses behind the lack of an agreement as well as the American public's response:
