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Looking Ahead to Thursday's Market

September 5, 2012

by Don Moenning

Quick Recap of Wednesday’s Session:

Stocks finished narrowly mixed on Wednesday. Major indices started the day in a relatively choppy fashion as traders digested the leaked details of the ECB’s bond buying program. Stocks experienced a few ~15 minute selloffs throughout the session which negated the majority of the action, which was mostly rallying. However, given the severity of the quick selloffs, major indices would close the day narrowly mixed ahead of the highly anticipated ECB meeting tomorrow.

S&P 500 -0.11%, NASDAQ -0.19%, DJIA +0.09%, Midcaps -0.17%.

Looking Ahead to Thursday:

  • Overnight we Unemployment from France, Construction PMI and Factory Orders from Germany, Q2 GDP from the Eurozone, and the Benchmark interest rate decision from the Eurozone at 7:45am EST.
  • Before the bell here in the U.S. is Challenger Job Cuts, the ADP Employment Report, and Weekly Jobless Claims.
  • Shortly after the open we get the Bloomberg Consumer Comfort Index, and then the ISM Non-Manufacturing Index at 10:00am EST.
  • While the ISM Non-Manufacturing Index is a big number, investors have been waiting all week for Thursday’s ECB meeting, which should give the market a push one way or the other in early trading tomorrow morning.

     

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