Market tracking revealed that the major index composites in the U.S. finished
in the green across the board again yesterday. The Dow Jones was higher by 1.5
percent, the S&P was higher by 1.5 percent and the Nasdaq was higher by 1.83
percent. This close makes three consecutive days that the indices have finished
higher in the U.S. and constitutes a legitimate rally. Stocks bumped higher at
the open of yesterdays trading session and remained consistently higher
throughout the days trading session. Today, No major economic posts are due to
post. The market will gain or fall based more on the posts stemming from
overseas markets. The developments in Japan and Libya are sure to play a part in
trending today as well. the positive momentum gained yesterday in the market
should help to support index trending this day. On Wednesday, the Census Bureau
will report on new home sales for February. Economists are not expecting this
report to post positive results. The negative trend in the housing sector is
expected to continue. On Thursday, a durable goods order report for February
will post via the Commerce Department. This report is expected to post positive
and continue the upward trend observed in the manufacturing sector. Information
on first time jobless claims is scheduled as well. This report is expected to be
little changed from the last reading. On Friday, the University of Michigan
Consumer Sentiment Index will post. The index will give an indication of
consumer sentiment across America. In addition to this report, the Commerce
Department will report on the progression of our economy during the fourth
quarter. Fourth quarter U.S. gross domestic product data will post this day and
it is not anticipated that it will change much from the last reading. Quarterly
earnings reports will drop throughout the week and economists look for these to
help support economic stabilization efforts. Prior to opening bell today, market
tracking reveals that stock futures are posting in the green. The Nasdaq is
higher by .08 percent prior to opening bell. The S&P 500 is higher by .02
percent and the Dow Jones Industrial Average is higher by .25 percent prior to
opening bell this morning. Author: Frank Matto
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