Stock market news update today March 9, 2015:
Investors will tune in today to see if the mixed trend-lines that closed out the last week will turn positive. The S&P 500, as well as the Dow Jones Industrial Average, finished the last full trading session of last week in the red. The DJIA slipped 1.54 percent to close at 17856.78 last session while the S&P 500 dipped by 1.42 percent to close the last session in the red at 2,071.26.
The negative slide that ended the last full trading session in the U.S. was due, in part, to investors’ interpretations of the most recent jobs report and what may happen as a result of this report. The February nonfarm jobs report revealed that employers added 295,000 jobs which was far better than what most had expected for February. The unemployment rate dipped lower again to 5.5 percent and the hourly wages ticked hire. All good news right? The data was positively skewed for sure, which is why many investors anticipate that the Feds will hike key interest rates sooner rather than later. This perception pressured the stock market as last week came to a close. All three primary U.S. indices finished the last full trading session in the red overall for the week last week.
What to expect from the Week Ahead:
Investors will keep an eye on events overseas today. The European Central Bank will begin its trillion euro stimulus plan this week. Volatility should be on the rise as a result.
In the U.S. retail sales numbers will post, as will the preliminary reading on consumer sentiment from the University of Michigan.