Stock index composites revealed negative trending after a significant sell-off
to start yesterdays trading session. The major index composites attempted to
climb their way out of the hole throughout the trading session in the United
States yesterday, but it was a far climb. The Dow Jones, Nasdaq and S&P 500
ended the day in the red. Work market turmoil relating to the disaster in Japan
continues to take a toll on stocks. Today, the February housing starts and
building permits report will post during the first half of trading. In addition
to this report today, the Producer Price Index will post via the Commerce
Department. The Producer Price Index is a measure of wholesale inflation and is
expected to have bumped up slightly. The rest of the week will be busy as well.
Thursday will be a busy day for economic reports. The government's weekly
report on initial jobless claims is scheduled this day. It rose last week but is
expected to have dropped from the previous week's numbers. In addition to this
report, the U.S. consumer price index will also post and this report will
provide data on inflation. The price index is expected to have risen. Adding to
the flurry of information this day will be the Philadelphia Fed Index for
February which is a regional reading on manufacturing. Friday reporting will be
minimal and the momentum created earlier in the week will help to support
trending on the last trading session of the week. World news developments will
help to push stock market trending this day as there are no major economic
reports scheduled to post. Currently, stock futures indicate that the major
index composites are positioned to open in the red and stocks are poised for a
lower open today. The Dow is posting negative .19 percent prior to opening bell.
Author: Frank Matto
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