Amid a plethora of global earnings and economic data, and on the eve of the January U.S. nonfarm payroll report, stocks are moving nicely higher in late-morning action. Domestic jobless claims fell more than expected and 4Q nonfarm productivity topped forecasts, while the trade deficit widened by a larger amount than anticipated. Moreover, the European Central Bank (ECB) and the Bank of England (BoE) both kept their benchmark interest rates at record lows. In equity news, Dow member Walt Disney topped analysts' estimates, while General Motors severely missed the Street's expectations. Meanwhile, Costco Wholesale posted stronger-than-expected January same-store sales, while Twitter disappointed analysts with its user growth. Elsewhere, Dow member Coca-Cola announced a stake in Green Mountain Coffee Roasters and the two unveiled a collaboration to develop the use of the Coca-Cola brand in the Keurig beverage system. Treasuries are trading lower, along with the U.S. dollar and gold, while crude oil prices are higher. Overseas, Asian stocks finished mostly higher ahead oftomorrow's employment report and monetary policy decisions in Europe, while European equities are gaining ground following the ECB and BoE decisions.
Source: Schwab
Source: Schwab
