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After three consecutive days of trending green, the major index composites finished yesterday’s session in the red. The Dow Jones Industrial Average was lower by .11 percent at 12,023.89. The political unrest in the Middle Eastern parts of the world paired with growing anxieties relating to the nuclear crisis in Japan and the violence in Libya are pushing oil prices higher once again and index trending lower. Today, during the U.S. session, 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 mixed. The Dow Jones and S&P 500 are posting green and the Nasdaq is still red. Stocks slipped yesterday as investors continued to process problems in the Middle East and Japan. Author: Frank Matto
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