Home based economic reports posting in the U.S. yesterday were skewed negative.
Home prices posted lower for a seventh straight month and consumer confidence
posted lower as well. The major indices however spun positive to close. The Dow
Jones Industrial Average rose 81 points. The S&P 500 rose 9 points and the
Nasdaq moved ahead by 26 points. This coming just a day after all three indices
ended Monday in the red, breaking a three day positive streak for the index
composites. Today, economists expect to see a rise in private sector jobs and
will look to the ADP private sector jobs report that is scheduled to post on
Wednesday in hopes of viewing improved numbers. Thursday will bring the
government's data on weekly jobless claims. The claims dropped last week but
are expected to rise higher this week. In addition to this report on Thursday,
the Chicago's Purchasing Managers Index for March is scheduled to post this
day via the Institute for Supply Management-Chicago. The Labor Department will
post the jobs report on Friday. This report is viewed by many to be the most
important of the week and thus all eyes and ears will be focused on relevant
data and posts. In addition this day, the Supply Management's March
manufacturing index report is scheduled to post. For today, it is anticipated
that stock futures will position higher. They have done so each day this week
and even with the negative economic data yesterday, close values still held
green. Author: Frank Matto
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