ADP Jobs Surprise, Revived Fed Hopes Send Stocks Higher

A report today indicated that additional monetary easing is not yet off the table

by 3/7/2012 4:26:19 PM
Stocks quoted in this article:
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Crude futures finished higher today, thanks in part to that Wall Street Journal report -- which indicated that the Fed is considering a new, "sterilized" version of its bond-buying regime, in an attempt to provide monetary accommodation without sparking inflation. The commodity also received a boost from today's upbeat jobs data, as well as easing fears over tomorrow's voluntary Greek debt restructuring. These positive catalysts helped black gold finish higher, despite a smaller-than-anticipated weekly climb in domestic crude supplies. By the close, crude for April delivery added $1.46, or 1.4%, to finish at $106.16 per barrel.

Likewise, gold futures ended a three-day losing streak today, following suit with stocks and oil. An improved outlook on Greece's impending bond swap also supported the precious metal, as the euro gained ground against the U.S. dollar. By the end of the session, April-dated gold gained $11.80, or 0.7%, to settle at $1,683.90 per ounce.

Levels to Watch in Trading:

  • Dow Jones Industrial Average (DJIA – 12,837.33) - support at 10,500; resistance at 13,000
  • S&P 500 Index (SPX – 1,352.63) - support at 1,100; resistance at 1,400
  • Nasdaq Composite (COMP – 2,935.69) - support at 2,400; resistance at 3,000



OUTPERFORMING AND UNDERPERFORMING SECTORS

STOCKS – MOVERS

STOCKS – EARNINGS

STOCKS – NOTABLE CALL ACTIVITY

STOCKS – NOTABLE PUT ACTIVITY

STOCKS – NEW ANNUAL HIGHS

STOCKS – NEW ANNUAL LOWS

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