MSCI’s benchmark stock index for Latin America rose 0.4% in its eighth straight positive session. Brazil’s benchmark Bovespa index also climbed 0.4%, leading regional gains. The Bovespa index has gained more than 8 percent since March 14, when it closed below 45,000 points for the first time in nearly five years. “We have heard that investors are reallocating in Brazil some of their positions in Russia and China,” said Hersz Ferman, an economist with Elite brokerage in Sao Paulo, citing Russia’s problems with Ukraine and China’s weak economic data. “Global markets are more keen on risk assets,” he added. Appetite for risk increased as investors looked past the Russia-Ukraine crisis to focus on U.S. data showing orders for manufactured goods rebounded in February while the services industry grew solidly in March. Expectations that China’s central bank could unveil new stimulus measures to support the economy have also buoyed emerging markets over the past few days.” Back in the U.S., economic data Thursday featured jobless claims, which missed expectations and declined to 311,000 vs 323,00 expected, and prior 321,00. GDP showed a slight improvement in the fourth quarter rising to 2.6% vs 2.7% expected, and prior 2.4%. Pending Home Sales fell for the eighth-straight month though came in as expected at -0.8% vs prior -0.2%, and finally, Kansas City Fed Manufacturing Index came in better than expected at 10.0 vs 5.0 expected, and prior 4.0. After the close (naturally), it was announced that Citigroup, Royal Bank of Scotland, HSBC Holdings and Banco Santander SA failed Fed stress tests because of concerns over the quality of their processes. The result disallows, at least for now, dividends and stock buybacks these companies had proposed. Back to the drawing board for them! Leading sectors higher Thursday included: Natural Gas Producers (FCG), /quotes/zigman/1506375/delayed/quotes/nls/fcg FCG +2.67% ; Oil & Gas Exploration /quotes/zigman/477969/delayed/quotes/nls/xop XOP +1.58% ; Utilities /quotes/zigman/246354/delayed/quotes/nls/xlu XLU +0.81% ; Emerging Markets /quotes/zigman/322623/delayed/quotes/nls/eem EEM +1.30% , South Korea /quotes/zigman/22227/delayed/quotes/nls/ewy EWY +1.30% ; Brazil /quotes/zigman/264176/delayed/quotes/nls/ewz EWZ +4.63% ; Mexico /quotes/zigman/260604/delayed/quotes/nls/eww EWW +0.96% Latin American 40 /quotes/zigman/291163/delayed/quotes/nls/ilf ILF +3.32% ; Colombia /quotes/zigman/1494972/delayed/quotes/nls/gxg GXG +3.04% China /quotes/zigman/357940/delayed/quotes/nls/fxi FXI +0.72% ; India /quotes/zigman/1512813/delayed/quotes/nls/epi EPI +0.92% ; Europe/Pacific /quotes/zigman/1507855/delayed/quotes/nls/vea VEA +0.57% ; Oil /quotes/zigman/413712/delayed/quotes/nls/uso USO +1.14% , and Bonds /quotes/zigman/1480195/delayed/quotes/nls/tlt TLT +0.50% . Leading sectors lower Thursday included: NASDAQ 100
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