After three consecutive days of trending green, the major index composites
finished yesterdays 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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