MARKET OPEN: Weak night on Wall Street may see some domestic selling

Thu, 16 Apr 2020

Weak US data continued to hammer home the economic impact of covid-19 and may weigh on domestic sentiment. The Federal Reserve said manufacturing production plummeted 6.3 percent in March, the biggest fall since February 1946. Economists polled by Reuters had tipped a fall of 3.2 percent. Meanwhile, retail sales were down 8.7 percent in March, the largest fall since the government started tracking the series in 1992, the Commerce Department said. According to Reuters, the US$46.2 billion drop in sales in March was almost equal in a sin...

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