Jobs data could provide negative pressure today. The primary stock composites
continued to move in positive territory during the last trading session though.
Positive economic news posted yesterday in the U.S. via the initial unemployment
claims. According to the Labor Department, 401,000 Americans filed for
unemployment claims last week. This number was better than economists expected
but still greater than the overall total from the week prior. This positively
skewed news helped to push indices higher as did trends from overseas. Stocks
finished their respective sessions stronger in Asia and Europe. This positive
action also helped indices in the U.S. climb higher. The positive momentum was
held in check by the continuing concerns relevant to Europes debt crisis.
Ongoing fear and nervousness remained as investors continue to keep a close eye
on developments overseas. Europes Central Banks made the call to hold steady on
interest rates and this was disappointing news for many. As the last U.S.
trading session came to a close, the primary index composites were green. The
Dow Closed up by 1.68 percent at 11,123.33. The Nasdaq closed at 2,506.82 and
the S&P 500 closed out higher at 1,164.97. Prior to opening bell this morning,
stocks were positioned for the lower open. Stock futures for the primary U.S.
stock index composites were red across the board ahead of todays jobs report.
The strength of the economy and risk of another recession will be tied to this
report. Frank Matto
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