In The News:
Slow and Steady: Monday’s ISM (Institute for Supply Management) showed the US economy grew for a fourth straight month; however the numbers did show the economy grew at a slower rate than expected.
Shut Out: Commodities, who suffered their worst quarter since 2010, were shut out of the euphoria felt by the financial markets in Q1. In the past commodities and the direction of the US stock markets have gone hand in hand since the financial crisis of ’08. Investors and analyst suggest the large inventories or stockpiles of basic goods such as oil, corn, or cotton has led prices to remain low in Q1.
Apple Apology: Apple posted an apology letter to its China’s website. The letter written in Chinese and signed by Apple CEO, Tim Cook, apologized for misunderstandings created by poor communications regarding warranty policies.
Contraction: Eurozone PMI (Producers Manufacturing Index) dropped to 46.8, a three month low, in March vs. 47.9 in February. Contributing to the drop in monthly readings, a fall in output and new orders, bringing further job losses to the region.
Cleared for Bankruptcy: A federal judge has cleared the way for Stockton, California to continue with its bankruptcy, finding citing the city is eligible. The judge also allowed the city to keep its pensions intact while imposing losses instead to its Bondholders. Several municipalities such as Jefferson County, Alabama and San Bernardino, California have been keeping a close eye, as many feel the ruling has now set a precedent in municipality bankruptcies.
In The Markets:
Asia: Asian Markets were mixed as investors reacted to the possibility of slower growth in the US.
Europe: European markets were closed for Easter.
US: US markets were mixed on the first day of the month and the quarter on slower growth economic data.
DJIA: +5.69 14572.85 S&P: -7.02 1562.17 Nasdaq: -28.35 3239.17
Dinner or Drink:
Today we pick dinner. In honor of Stockton, CA home of the annual Asparagus Festival we will be feasting tonight on…
Spaghetti with Asparagus, Smoked Mozzarella and Prosciutto
Here’s what you will need:
- 2 pounds asparagus, trimmed
- 3/4 pound spaghetti
- 4 tablespoons olive oil
- 4 garlic cloves, minced
- Salt and freshly ground black pepper
- 6 ounces thinly sliced prosciutto, cut crosswise into strips
- 6 ounces smoked mozzarella cheese, diced (about 1 cup)
- 6 tablespoons thinly sliced fresh basil leaves
Cook the asparagus in a large pot of boiling salted water until crisp tender, about 2 to 3 minutes. With a spider or slotted spoon, remove asparagus from boiling water to a bowl of ice water to cool and stop the cooking. When cool, strain, cut asparagus into 1-inch pieces, and set aside.
Return the water in the pot to a boil, adding additional water, if necessary. Add the pasta and cook until al dente, tender but still firm to the bite, about 8 minutes. Drain the pasta, reserving 1 cup of the cooking liquid.
Heat the oil in a heavy large skillet over medium heat. Add the garlic and sauté until fragrant, about 20 seconds. Add asparagus to the skillet. Season with salt and pepper, to taste. Add the pasta, and if needed, some of the reserved cooking liquid. Toss to coat. Add the prosciutto, mozzarella, and basil, and toss to combine. Turn off the heat. Season with salt and pepper, to taste, and serve.
Thank you Food Channel.com for the excellent recipe.