Market Flash: Market mixed

Breakfast Bites;Tight trading ranges permeate the markets this morning with majority of S&P 500’s 10 sectors trading in negative territory, despite continued positive economic reports that continue to support a recovering economy



  • Claims for Jobless benefits dropped last week by 14,000 to 351,000 matching the lowest level in 4 years, more evidence the labor department is improving

  • Wholesale prices in the U.S. climbed in February to 0.4%, the most in 5 months reflecting a jump in fuel costs that Fed officials will be temporary…….I hope they are right!!

  • Manufacturing in the New York region expanded to 20.2 this month from 19.5, the fastest pace since June 2010 indicating factories are still driving expansion

  • International demand for U.S. financial assets rose in January to $101 billion as investors sought safe haven from the debt crisis in Europe

  • Allison Transmissions (ALSN) IPO opens for trading at $23.00 on a print of 3,047,513 shares.

  • Demandware (DWRE) IPO opens for trading at $25.25 on a print of 913,939 shares.

  • Consumer Confidence rose last week to the highest level in 4 years (33.7)  as job gains put more Americans in the mood to spend

  • Philadelphia Fed Index increased to 12.5 in March, expanding at the fastest pace since June 2010

  • Fitch affirmed the U.K.'s credit rating at AAA, but revised its outlook to negative from stable.

  • Cisco Systems agreed to buy NDS Group LTD in a deal valued at $5 billion. NDS, which develops software for multi-channel television networks, is jointly owned by News Corp. and Private Equity firm Permira.