Political unrest in the Middle East paired with oil prices spiking near $100
per barrel are working to apply negative pressure on the stock market.
Yesterdays close numbers ended in the red. The Dow was lower by 1.4 percent. The
Nasdaq closed lower by 1.6 percent and the S&P 500 was lower by 1.6 percent as
well. Today, details on the economic recovery will be gleaned from the Fed's
Beige Book report. The ADP private sector jobs report is scheduled to post as
well. Earnings reports this day will stem from Costco, PetSmart and BJ's
Wholesale among others. Thursday will be a busy day as usual for economic
reports. First time claims for unemployment will post this day and are expected
to drop modestly lower. Earnings reports this day will stem from H.J. Heinz,
Kroger, Wendy's/Arby's Group and Anheuser Busch among others. On Friday,
February's job report will post. Economist expect that jobs will be added.
This report by the government is an important one and investors will be acutely
aware of the results and market reaction. The economy has been moving in a
positive direction but positive data from this report would be very beneficial
for investor confidence. Currently, market tracking prior to opening bell
reveals that stock futures are posting in the green. The Dow Jones is just above
break-even by .02 percent. Stocks are edging slightly higher as the Wednesday
opens. Author: Frank Matto
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