Wednesday, March 3, 2010
Stocks Trading Flat Ahead of ADP Jobs Report
Besides news regarding the debt crisis in Europe, futures and Forex traders will be focusing on today’s Challenger jobs report and the ADP private sector jobs report for direction.
Traders expect the ADP report to show a loss of 20,000 jobs. An amount greater than 20,000 should support the Dollar as it will indicate a weaker economy. Later in the day, the Fed releases the Beige
Book of economic conditions.
U.S. equity markets are trading flat to lower ahead of the job data reports. In addition, traders are reacting to the mixed news that is coming out of the Euro Zone. This news seems
to be changing by the hour which is helping to create investor indecision and some light volatility. Yesterday U.S. stock indices opened higher but failed to maintain the upside momentum throughout
the day and weakened into the close. Investors seem to be nervous about holding risky positions which could lead to a profit-taking break today. Worse than expected jobs data is expected to lead to
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