Stock futures are slightly in positive territory as the Street awaits the release of the monthly nonfarm payrolls report. Analysts are expecting the report to show that the economy added 200,000 nonfarm jobs. The unemployment rate is expected to fall to 6.6% from 6.7%. The numbers are due out at 7:30 am CT. We actually saw a modest rise in volatility yesterday as stocks looked as though they might break to the downside. This was quickly remedied by the Bulls once again as they saw another buying opportunity. Small caps (RUT, IWM) were the weakest sector yesterday and may be forecasting the pull-back many are expecting. Despite some weakness in equities yesterday, the S&P 500 Index (SPX) hit another all-time high during the session.
Treasuries are down slightly after a bullish session yesterday ahead of the key March employment report. The 10-year yield held narrowly around the 2.80% level. Overseas markets were mixed but Europe was seeing modest gains. There wasn't a lot of data with February German manufacturing orders posting a modest gain after a sharp downward revision to January. U.K. home prices also continued to rise. All eyes are on the jobs data today that could set market direction for the near term. Regardless of the number, the Fed backstop may prevent any significant downturn in stocks.
Stock Stories:
Target (TGT) – One big pile – A federal court in Minnesota will hear all the cases filed against Target (TGT) by customers over the breach of data. The U.S. Judicial Panel on Multidistrict Litigation ordered all current lawsuits and any future ones filed to be heard by U.S. District Judge Paul Magnuson in Target's home state.
Major Economic Reports:
7:30 am CT – March Jobs Report
Notable Earnings:
Before Market: CSUN, KMX
After Market: None
Monday – 4/7: NG, ZEP |
发表于 2014-4-4 08:42
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