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Stocks were positioned for gains to start the last Monday in March, however the end of day close told a different story. All three major indices in the U.S. dropped into the red after a moderate stock sell off in the final minutes of yesterday’s trading session. The S&P was lower by .27 percent at 1310.19. The Nasdaq was lower by .45 percent at 2730.68. The Dow Jones Industrial Average ended the last session lower by .19 percent at 12,197.88. The negative end of day close ended the streak of consecutive positive closes, leaving that trend at three straight days. Today, the Conference Board will post a report on March Consumer confidence data. This report is expected to show a significant drop when compared to the prior reading. Overseas turmoil, rising oil prices, violence in the Middle East will all apply negative pressure to this reading. In addition to the consumer confidence report this day, the S&P Case-Shiller home price index for January will post. 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. As usual, 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, early morning market tracking reveals that prior to opening bell for the last Tuesday trading session of March, stock futures are posting higher and stocks could be positioned for a rebound. Author: Frank Matto
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