Markets are closed in honor of Good Friday, but here are some of the stories we’re following:
The Commerce Department reports sales at U.S. retailers fell 0.2% in March. That was the second drop in a row, for the worst two-month stretch in two years. But it was actually better than the 0.3% drop expected by economists. February was downgraded to a 0.3% drop instead of the originally reported 0.1% increase. Those soft sales have been concentrated among auto dealers, gas stations, and department stores. Electronics stores had a strong month, as wellas clothing stores switching over to spring apparel. and Internet retailers.
Commerce Department also reports. The consumer-price index fell by a seasonally adjusted 0.3% in March. Economists expected a a 0.1% decline. The annual rate of inflation fell to 2.4% in March down from February’s five-year high of 2.7%.
Bloomberg reports that Apple is looking to invest in Toshiba’s semiconductor unit, with options including joining domestic investors to bid for the unit and partnering with Taiwan-based Apple supplier Foxconn. The report comes a few weeks after Japanesenewspoaper Yomiuri Shimbun reported that Apple was interested in the business, while Nikkei reported that Broadcom and private equity firm Silver Lake had offered $17.9 billion for the unit.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
