The market was trending in the green approaching mid day on Friday. Stocks
boasted solid gains as investors turned their attention from the ongoing
military conflict in Libya and ongoing nuclear facility restoration and
containment in Japan. The Tech sector pushed the market forward as there
appeared to be little reaction from the releases on the economic calendar today.
The University of Michigans consumer sentiment survey for March revealed a
reading of 68.2, which fell in line with expectations and the third and final
reading on the U.S. GDP came in at 3.1%, falling just above economists
expectations. With under one half of an hour before close, stocks have started
to pull back with the major market indexes holding just above the neutral line.
Overall the market is on track to finish out its third straight day of gains on
Friday, with the Dow headed for its best weekly performance since July. Next
week on the economic calendar investors will look for reports on personal income
and spending, consumer confidence, the most recent ADP Employment Change, weekly
initial jobless claims, monthly nonfarm payrolls, ISM data, and data on
construction spending. At the approach of close the major market indexes have
continued the positve trending in the green . The Dow gained 49.76 points or
0.41% to 12220.32. The Nasdaq increased 6.98 points or 0.25% to 2743.19. The S&P
500 rose 4.13 points or 0.32% to 1313.79. The Treasuries 10-year yield was up
0.04 to 3.44%. Oil declines by 0.07 to $105.54 a barrel. The U.S. dollar gained
0.0055 to the Euro at $1.41. Author: Pamela Frost
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