subject: Trading Room Pt1 [print this page] Daily Stock Report for Thursday Morning, March 4, 2010 pt1
The US stock market got mixed signals today from various economic data that were released. The Fed Beige Book, which is a variety of reports from around the US that report on the condition of the economy, showed there is a slightly recovery taking place but not enough to create job growth.
The ISM Services index increased to 53 in February from 50.5 and above 50 is generally considered as expansion. Services does represent over 75% of the US economic activity
The ADP Employment change showed a 20,000 job loss vs. the 10k that was expected yet the Challenger Job Cuts report is showing that planned layoffs is at the lowest level in 4 years at 42,000 planned cuts.
The unemployment numbers coming up on Thursday and the most important number, Unemployment Rate, is likely going to be skewed by the severe winter weather in the last couple of weeks. It may hide the fact that people were not able to get out and file claims so the number coming out on Friday could be underestimating what the true unemployment rate is.
Another factor to consider is the Federal aid is about dried up so analysts are starting to predict another big wave of government and private sector layoffs.
When you see regional Fed Presidents speaking, they are used to signal the market that certain plans are coming in the future or to calm the markets if it is unsettled. Although that isnt a stated official procedure, we have started seeing them talk about
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