Daily Delphi

Post: Monday - Looking down the barrel of a slow trading day. | Daily Delphi

BlogsPit Talk › Monday - Looking down the barrel of a slow trading day. March 10, 2014, 6:50 am

CALENDAR
No economic reports today.

FRIDAY RECAP

The Dow ended Friday up +0.19% and the S&P ended up only a single point but that was enough for a new record high close. The Nasdaq was the day's loser ending down -0.37%. All three indices were up about 1% each for the week. Early on Friday traders were excited to see the non-farm payrolls number that came in better than expected at +175,000 new jobs. After looking at the details, the headline number didn't look so great. It turns out that the harsh winter might not be as big of a factor for the recent sluggish jobs growth. As traders digested the numbers the markets drifted lower but then managed to rally into the close, suggesting that traders believe the worst is over in the Ukraine. Even though Russia's Gazprom is threatening to cut off fuel supplies to the country..

TODAY'S ACTION

Overnight, Asian markets ended in the red after Chinese export data showed a -18.1% slump from the same period last year vs an expected increase of +5%. European markets are trading mixed to lower in mid-session trade. In the US we're looking at a slow trade day with no economic reports due to be released. Trade wisely.


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