Stocks open higher: The Dow has been down six days in a row. So far this morning, the index is up 40 points.
Jobless claims inch lower: Weekly filings fell by 1,000, to 367,000. The previous week's figure was revised up by 3,000. From AP:
Dan Greenhaus, an analyst at BTIG, an institutional brokerage firm, said temporary layoffs stemming from spring holidays likely pushed claims higher in April. If applications stay where they are or fall further, Greenhaus predicts hiring will rise to healthier levels of between 150,000 and 200,000 new jobs each month. A jump in job openings also suggests hiring will pick up. Employers advertised 3.74 million job openings in March, the most since July 2008. It usually takes one to three months for employers to fill openings.
Socal economy will expand slowly: Job growth is expected to run 1.5 percent this year, up from 2011's 0.6 percent, according to economists at Cal State Long Beach. Next year should be better. (Press-Telegram)
Local hotels looking good: L.A. room rates for March were up 3.2 percent compared with last year, to $158.29 a night. The occupancy rate was 79.3 percent, up 4.0 percent. (OC Register)
Why Clooney event will raise so much: The Obama campaign is raffling off a pair of invitations to tonight's fundraiser and apparently that has brought in lots of small money. From the WSJ:
"The number of people who wanted to go to Clooney's house was through the roof," [according to a person familiar with the dinner]. The Obama campaign declined to comment on the event. Mr. Obama's fundraising team said the Clooney dinner dwarfs that of some other events the campaign deemed successful. The president, for example, attended a series of events in New York in March that raised about $5 million total, according to one Obama fundraiser.
Norman Lear feeling better about Obama: The TV producer and his wife will donate $80,000, the maximum allowed by law, citing the president's announcement on same-sex marriage. (THR)
Brown warns about more cuts: The governor's people are telling state union leaders that payroll costs will have to come down, the result of a deepening deficit. Brown's revised budget plan to be released later this month. (Sacramento Bee):
Magic's veto pen: Despite owning just a small share of the Dodgers, Johnson has the power to block any development that Frank McCourt might propose for Dodger Stadium parking lots, the LAT is reporting.
McCourt sold the Dodgers to Guggenheim Baseball Management but retained half-ownership of the parking lots. Guggenheim secured the right to approve any development and designated Johnson as the party who would grant approval. The provision, in a document that is not public, confirms what Guggenheim executives have said, that they control development of the property.
Not saving for retirement: New study finds that nearly half of Americans are not contributing to any retirement plan. Young people are least likely to be saving. (CNNMoney)
Tesla moves up roll-out date: The electric carmaker's Model S sedan will be delivered to customers next month, slightly earlier than scheduled. (Reuters)