Global markets close higher led by supportive data

Upward grind continued in global markets led by supportive data on Thursday. Euro against US dollar too ended higher post European Central Bank (ECB) meet. Meanwhile, ECB kept rates unchanged and Bank of Japan too left interest rates & asset purchases unchanged.

The Dow Jones Industrial Average gained 0.23 percent or 33.25 points to close at 14,329.49. Nasdaq Composite rose 0.30 percent or 9.72 points to 3,232.09. Standard & Poor's 500 added 0.18 percent or 2.80 points at 1,544.26.

Meanwhile, European markets namely France's CAC, Germany's DAX and Britain's FTSE were up 0.2-0.5 percent.

ECB chief Mario Draghi says
-Possibility of rate cut was discussed
-Consensus was to leave rates unchanged
-No non-standard measures being considered
-Italy's contagion to other countries muted
-Forecast for FY13 & FY14 GDP revised down by 0.2 percent

US economic data
-Initial jobless claims fell by 7,000 to 340,000
-Consumer credit rose to USD 16.2 billion
-Trade deficit was mildly higher at USD 44.4 billion

China data watch for February
-Exports increased at 21.8 percent (YoY) while consensus was 5 percent
-Imports declined at 15.2 percent (YoY) while consensus expected decline of 10 percent
-Trade surplus stood at USD 15.3 billion whereas consensus estimated deficit of USD 16 billion

Watch out for following data today
-Germany Industrial Output
-UK Inflation target
-US Unemployment Rate
-US Non-farm Payrolls
-US Wholesale Inventories