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Post: Thursday - The day before non-farm payrolls. | Daily Delphi

BlogsPit Talk › Thursday - The day before non-farm payrolls. March 6, 2014, 6:50 am

CALENDAR
6:30 AM CT
Challenger Job Cuts for Feb
Prior 47.3%
7:30 AM CT
Initial Claims for 03/01
Prior 348K Forecast 336K
Continuing Claims for 02/22
Prior 2964K Forecast 2965K
Productivity - Re. for Q4
Prior 3.2% Forecast 2.5%
Unit Labor Cost - Rev for Q4
Prior -1.6% Forecast -0.8%
9:00 AM CT
Factory Orders for Jan
Prior -1.5% Forecast -0.4%
9:30 AM CT
Natural Gas Inventories for 03/01
Prior -95bcf

WEDNESDAY RECAP

Yesterday was uninspired and unimpressive with low volume. The Dow and S&P closed down slightly, while the Nasdaq closed up slightly. Traders seem to be on the sidelines as the world watches the Ukraine and the markets await Friday's jobs report. On any other Wednesday before non-farm payrolls this wouldn't be out of place. But with the markets continually flirting with new highs, the economic data anemic and Russia flirting with taking over Ukraine, it all just seems a little eerie. But whose to say in this world of the 2 minute crisis.

TODAY'S ACTION

Overnight the Asian indices were all up, as were the European markets. Today investors will get a look at the always volatile initial claims data and factory orders. On the corporate front Costco, Kroger and Staples will all be reporting earnings before the bell. Barring any big news, equities will probably seek higher ground and find a range to trade ahead of tomorrow's payrolls number. The latest round of data shows the US recovery still seems to be moving forward, although at a sloth like pace. And Russia's intentions in Ukraine are rapidly becoming a political concern for the world rather than military. Trade strong.


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