Markets ended the day mixed as investors continued to feel the impact of waning hopes for domestic QE3 plans and on continued fears over the recovery in the Euro zone on the back of a disappointing bond auction in Spain yesterday. Investors tend to exit their positions in advance of a long weekend, especially as we anticipate the important government jobs results coming tomorrow – despite the markets being closed.
The full announcement schedule for the week of April 9th is as follows:
Tuesday: NFIB Small Business Optimism Index and Wholesale Trade
Wednesday: Import and Export Prices, Fed Beige Book, and Treasury Budget
Thursday: International Trade, Initial Jobless Claims, Producer Price Index, Fed Balance Sheet
Friday: Consumer Price Index and Consumer Sentiment
Click this link for the full economic calendar for the week.
Ahead of the Bell: Dow futures are trading down 20 points and S&P futures are trading down 2 points following the previous trading session's healthy gains. The possibility of a flare up of the European crisis, implementation of QE3 by the Federal Reserve, or a sudden slow down in China's economy has investors on edge. Regardless of the event, most traders believe the equity markets are due for a pull back.