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Stock Markets Anticipate Tomorrow's Nonfarm Payrolls Report
End of Day Roundup 03/06: Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

China's Finance Minister Lou Jiwei noted last night that the Chinese government saw 7.2% or 7.3% GDP growth in 2014 as acceptable, even though its official target is for 7.5%, potentially implying that the government sees growth missing to the low side. He stated that the goal would be to add jobs more than stimulate growth, in addition to the other objectives of reducing pollution and corruption.

US equities generally trended higher today, but tech stocks lagged despite strong performance from Chinese Internet providers such as SINA (NASDAQ:SINA). The S&P 500 (INDEXSP:.INX) gained 0.17% today after reaching an intraday high of 1882. Health care and utilities stocks were the worst performers due to a three basis point rise in the 10-year Treasury yield. Financial stocks led, continuing their streak of outperformance from the past two weeks.

Jobless claims showed a surprise drop to 323,000 in the prior week, better than the 336,000 that had been expected. January factory orders declined by 0.7%, slightly worse than the -0.5% that had been expected, and December orders were revised down to a -2.0% monthly rate from -1.5%.

Shares of Plug Power (NASDAQ:PLUG) fell 6.22% today after the fuel cell company announced a 3.9 million share offering that should net the company approximately $21.5 million. The stock had risen 45% since last Friday on news of a deal to supply fuel cells to Wal-Mart (NYSE:WMT).

Tomorrow's Financial Outlook

Tomorrow morning the Bureau of Labor Statistics will release the government's February nonfarm payrolls report. The consensus economist estimate is that the US added 150,000 net jobs in the month. However, due to a weak ADP private payrolls and ISM services report on Wednesday, a number of economists have lowered their estimate, which indicates that market participants are expecting the final figure to be below the consensus. Also scheduled for release is the January trade balance.

In overseas news, Germany will release industrial production from January. Economists are expecting month-over-month growth of 0.8% after a decline of 0.6% in the month prior. Also scheduled for release is Japan's leading economic indicators and Switzerland's unemployment rate.

The only two earnings reports scheduled for tomorrow are Foot Locker (NYSE:FL) and Big Lots (NYSE:BIG).

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Stock Markets Anticipate Tomorrow's Nonfarm Payrolls Report
End of Day Roundup 03/06: Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

China's Finance Minister Lou Jiwei noted last night that the Chinese government saw 7.2% or 7.3% GDP growth in 2014 as acceptable, even though its official target is for 7.5%, potentially implying that the government sees growth missing to the low side. He stated that the goal would be to add jobs more than stimulate growth, in addition to the other objectives of reducing pollution and corruption.

US equities generally trended higher today, but tech stocks lagged despite strong performance from Chinese Internet providers such as SINA (NASDAQ:SINA). The S&P 500 (INDEXSP:.INX) gained 0.17% today after reaching an intraday high of 1882. Health care and utilities stocks were the worst performers due to a three basis point rise in the 10-year Treasury yield. Financial stocks led, continuing their streak of outperformance from the past two weeks.

Jobless claims showed a surprise drop to 323,000 in the prior week, better than the 336,000 that had been expected. January factory orders declined by 0.7%, slightly worse than the -0.5% that had been expected, and December orders were revised down to a -2.0% monthly rate from -1.5%.

Shares of Plug Power (NASDAQ:PLUG) fell 6.22% today after the fuel cell company announced a 3.9 million share offering that should net the company approximately $21.5 million. The stock had risen 45% since last Friday on news of a deal to supply fuel cells to Wal-Mart (NYSE:WMT).

Tomorrow's Financial Outlook

Tomorrow morning the Bureau of Labor Statistics will release the government's February nonfarm payrolls report. The consensus economist estimate is that the US added 150,000 net jobs in the month. However, due to a weak ADP private payrolls and ISM services report on Wednesday, a number of economists have lowered their estimate, which indicates that market participants are expecting the final figure to be below the consensus. Also scheduled for release is the January trade balance.

In overseas news, Germany will release industrial production from January. Economists are expecting month-over-month growth of 0.8% after a decline of 0.6% in the month prior. Also scheduled for release is Japan's leading economic indicators and Switzerland's unemployment rate.

The only two earnings reports scheduled for tomorrow are Foot Locker (NYSE:FL) and Big Lots (NYSE:BIG).

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Minyanville Staff
Stock Markets Anticipate Tomorrow's Nonfarm Payrolls Report
End of Day Roundup 03/06: Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

China's Finance Minister Lou Jiwei noted last night that the Chinese government saw 7.2% or 7.3% GDP growth in 2014 as acceptable, even though its official target is for 7.5%, potentially implying that the government sees growth missing to the low side. He stated that the goal would be to add jobs more than stimulate growth, in addition to the other objectives of reducing pollution and corruption.

US equities generally trended higher today, but tech stocks lagged despite strong performance from Chinese Internet providers such as SINA (NASDAQ:SINA). The S&P 500 (INDEXSP:.INX) gained 0.17% today after reaching an intraday high of 1882. Health care and utilities stocks were the worst performers due to a three basis point rise in the 10-year Treasury yield. Financial stocks led, continuing their streak of outperformance from the past two weeks.

Jobless claims showed a surprise drop to 323,000 in the prior week, better than the 336,000 that had been expected. January factory orders declined by 0.7%, slightly worse than the -0.5% that had been expected, and December orders were revised down to a -2.0% monthly rate from -1.5%.

Shares of Plug Power (NASDAQ:PLUG) fell 6.22% today after the fuel cell company announced a 3.9 million share offering that should net the company approximately $21.5 million. The stock had risen 45% since last Friday on news of a deal to supply fuel cells to Wal-Mart (NYSE:WMT).

Tomorrow's Financial Outlook

Tomorrow morning the Bureau of Labor Statistics will release the government's February nonfarm payrolls report. The consensus economist estimate is that the US added 150,000 net jobs in the month. However, due to a weak ADP private payrolls and ISM services report on Wednesday, a number of economists have lowered their estimate, which indicates that market participants are expecting the final figure to be below the consensus. Also scheduled for release is the January trade balance.

In overseas news, Germany will release industrial production from January. Economists are expecting month-over-month growth of 0.8% after a decline of 0.6% in the month prior. Also scheduled for release is Japan's leading economic indicators and Switzerland's unemployment rate.

The only two earnings reports scheduled for tomorrow are Foot Locker (NYSE:FL) and Big Lots (NYSE:BIG).

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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