Markets Shaky Ahead of ADP Jobs Data

by devteam January 6th, 2010 | Share

After the mixed equity session yesterday stocks continue to drift ahead of key employment data and a comprehensive survey of the services, financial, and construction industries.

As of 7:00, Dow futures are 19.00 points to 10,496, extending the 12-point loss seen on Tuesday. S&P 500 futures are down 3 points to 1129.25, offsetting the 3.5-point gain yesterday.

Commodities are mixed with WTI Crude oil down 18 cents to $81.59 per barrel but Spot Gold up $3.75 to $1121.75 per ounce.

Also, in the wake of comments from a European Central Bank member who said the EU would not be rescuing Greece, the greenback rose and the euro initially sank but then rebounded.

“The comment by executive board member Jürgen Stark in Italy's Il Sole newspaper initially sent the euro reeling lower against the dollar–knocking it back as far as $1.4283–as investors worried that Greece's debt problem could force it to default,” reported the Wall Street Journal. “However, the single currency soon rebounded with some market analysts speculating that despite Mr. Stark's warning, some plan will eventually be hatched to ensure Greece's stability.”

Key Events Today:

8:15 â€

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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