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Fuel Cells Fly While the S&P Flattens Out


End of Day Roundup 03/07: Today's financial recap and tomorrow's financial outlook.

The S&P 500 (INDEXSP:.INX) hit a new all-time high at 1883.57 this morning after a better-than-expected NFP report.

The Bureau of Labor Statistics said that 175,000 jobs were created in February, which exceeded the 149,000 consensus. Both January and December's figures were revised up.

This was a reversal from the past two months, which saw significant weakness relative to expectations. Some investors used the good news to take profits, with the S&P reversing lower before finishing flat at 1878.04.

Stocks had risen 2.3% off Monday's Ukraine-driven panic low at 1833.44, indicating that equity bulls came in a bit overconfident.

Taking a deeper look at stocks, the market-leading biotech sector took a significant breather. The iShares NASDAQ Biotechnology Index ETF (NASDAQ:IBB) fell 0.7%. There was also weakness in other "risk-on" sectors, with social media, housing, and 3-D printing all struggling.

But there was at least one bright spot as we saw extremely bullish action in the speculative fuel cell sector.

Shares of fuel cell play Plug Power (NASDAQ:PLUG) rose 30% after the company's CEO made a well-received appearance on CNBC. Plug was up a total of 74.9% for the week on news of a deal with Wal-Mart (NYSE:WMT).

And FuelCell Energy (NASDAQ:FCEL) rallied an impressive 18.1% due to a $2.8 million award from the US Department of Energy's Advanced Manufacturing Office.

Ballard Power (NASDAQ:BLDP), another popular name in the space, creeped up 3.9%.

Elsewhere in the market, the 10-Year US Treasury yield rose 1.9 bps to 2.79%, and oil was up, while precious metals sold off.

Tomorrow's Financial Outlook

There are no US economic reports scheduled for Monday, and just two notable earnings reports on tap -- Urban Outfitters (NASDAQ:URBN) and the aforementioned FuelCell Energy.

Geopolitics will remain at the forefront of investors' minds given the crisis in Ukraine, so any major news out of the region could sway stocks and bonds.

Twitter: @Minyanville

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