March 14, 2013-Economic Optimism Persists to a Sustainable Recovery

Wall Street seems to be persisting with its economic optimism, as each incoming economic evidence serves to cement expectations concerning a sustainable recovery. The major U.S. index futures are currently pointing to a higher opening. Earlier in the day, Asian stocks closed mixed as Chinese worries tempered U.S. optimism. Meanwhile, the European averages have opened firmer and are currently seeing moderate strength. The jobless claims report could also give some direction to the markets, even as the overbought levels of the markets give traders the jitters. The Dow futures are moving up 25 points, while the S&P 500 futures are adding 2.50 points and the Nasdaq 100 futures are rising 5.50 points. U.S. stocks advanced on Wednesday, helped by a breezy retail sales report released by the Commerce Department. On the economic front, the Labor Department is scheduled to release its weekly jobless claims report at 8:30 am ET. Economists expect claims to increase to 350,000 in the week ended March 9th from 340,000 in the previous week.