U.S. Stocks: market cautious in the late morning

U.S. Stock Market advanced slightly on Thursday after better than expected indicators released in this winter.

By late morning, the Dow rose 0.2% to 12,137.5 points, while the Nasdaq Composite 0.6% advance to 2592.3 points.

‘We also said that the flood of cheap money proposed yesterday by the ECB to European banks will perhaps help to avoid a too heavy recession in the euro area and help solve the crisis’, says one trader.

U.S. growth in the third quarter has been revised down this morning at 1.8% annual rate, while economists were expecting a confirmation to 2% growth.
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‘It’s disappointing, especially at the consumer level, but recent indicators suggest that growth will accelerate again in the 4th quarter’, an economist noted.

Other statistics released are in fact better than expected.

The index of leading indicators from the Conference Board, supposed to herald the trend of the U.S. economy for the coming months, advanced 0.5% last month, having already increased by 0.9% the previous month and 0 , 1% in September.

Similarly, the index of consumer confidence in Michigan was revised up to 69.9 for December and weekly jobless claims came out sharply down during the week of Dec. 17, at 364,000.
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Among the values, eBay advance of 0.5% after the acquisition of BillSAFE, a German specialist payment solutions ‘invoice’ in which he had acquired a minority stake in 2010.

Amazon advanced 2.5% after announcing the creation of 1300 jobs in Tennessee, one of the poorest states of the United States, through the opening of two new distribution centers. The group will also create two delivery centers in the State of Virginia, a project expected to generate 1350 new jobs.

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