Here are the five things you need to be aware of this morning:
- The legitimacy of the United States rebound is in question due to Philadelphia Fed data which points to half the country still being in recession.
- PIMCO’s managing director Bill Gross has done an about face on the UK, saying that the country now looks ready to exit its debt crisis successfully. The pound is up in overnight trading.
- Manufacturing data out of Asia and Europe shows significant growth in production in March, and indication that global trade is moving upwards sharply. The price of oil has risen to a 18 month high.
- Jennifer Li, the Chinese search company Baidu’s CFO, has been named to the board of Phillip Morris. This is the first time a Chinese woman has been offered a seat on an S&P 500 board.
- Jobless claims came in lower than expected, shaving 1000 off the consensus to come in at 439,000.
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