Stocks ended flat after a choppy trading session as investors viewed earnings,an uptrend in small business owner optimism and an increase in same-store sales. European shares closed just shy of a fresh 4-1/2-year closing high.
On the economic front, small business owners are more optimistic according to the NFIB Small Business Optimism Index. The report showed a 1.9 point jump with inventory building leading the gain.
ICSC-Goldman reports week-to-week same-store sales up 0.7% but with the year-on-year rate unchanged at 1.8%. The report also notes that grocery sales were strong in the week as were apparel sales.
Did you knowthe longest consecutive winning streak for the Dow Jones is 13 days.
On Tuesday, March 12, executives and guests of Vermilion Energy Inc. will visit the New York Stock Exchange (NYSE) to celebrate the company’s listing. Vermilion Energy Inc. will begin trading on the NYSE that same day under the ticker symbol “VET.” Vermilion Energy Inc. currently trades on the Toronto Stock Exchange.
To mark the occasion, President and CEO Lorenzo Donadeo, joined by members of Vermilion Energy management team, will ring the NYSE Opening Bell.
Vermilion Energy Inc. (NYSE: VET)
Vermilion is an oil-leveraged producer that adheres to a value creation strategy through the execution of full cycle exploration and production programs focused on the acquisition, exploration, development and optimization of producing properties in Western Canada, the broader European region and...
From the Trading Floor: Markets are trading in cautious territory this morning, booking profits, after 7 straight days of gains.
The National Federation of Independent Business said its small-business optimism index for February rose to 90.8 from January's 88.9, topping expectations of 90.0. Meanwhile, the NFIB said its reading on expected business conditions remained deep in recession territory, and business owners reporting declining sales far outnumbered those saying sales increased
U.S Job Openings increased in January by 81,000 to 3.69 million from a revised 3.61 million the prior month
January manufacturing output in the U.K. fell 1.5% on the month, much worse than expectations of 0.1% growth. Manufacturing fell 1.5 percent. Meanwhile, UK home prices fell to -6 in February from -4 the previous month, according to the Royal Institution of Chartered Surveyors.
Ahead of the Bell: Dow futures are trading down 20 points and S&P futures are trading down 2 points following the record setting territory by the DJIA and the S&P 500 indices. The blue chip index set another all-time high, while the broader index closed up for a seventh straight session. Investors are weighing whether this bull market has enough legs to keep the rally going. The NFIB small-business survey reported activity picked up in February, a sign the economy is improving, despite the fiscal contraction, and the impact of the payroll tax implemented earlier this year.
Other reports on the economic calendar today, the Treasury Department will release February surplus or deficit for the federal government, $-205.0B is forecasted versus $2.9B for January.
The dollar is up against the major currencies. Gold is trading at $1,590. Crude oil is currently trading at $91 a barrel.