Daily Market Wrap: April 4, 2012 Wednesday, April 4, 4:20 PM ET
The markets opened sharply lower today, and continued to add to their losses, despite a jobs report from the ADP that was better than expected.
209,000 jobs were added in the private sector in March, according to the ADP National Employment Report.
Although that number exceeded economists expectations of 200,000, it does indicate a slowdown from the prior month.
Also on the economic front, the Mortgage Bankers Association is reporting an increase in weekly mortgage applications,
which comes after seven weeks of declines.
In earnings news, Monsanto (NYSE:
MON) posted earnings which beat expectations, due in part to global demand for corn and strong sales in the U.S.
YHOO) announced today it will cut 2000 jobs, which is about 14 percent of its workforce. The company said it expects about $375 million in annualized savings from the job cuts.
Tomorrow, we'll take a look at the numbers for jobless claims, chain store sales, as well as earnings from CarMax (NYSE:
For Marketnewsvideo.com, I'm Sayoko Murase.
Thursday Sector Laggards: Defense, Information Technology Services
Related symbols: ARTX, ASTC, SILC, PFPT
Wednesday Sector Leaders: Rental, Leasing, & Royalty, Precious Metals
Related symbols: HGT, MTR, ANV, MVG
Wednesday Sector Laggards: General Contractors & Builders, Sporting Goods & Activities
Related symbols: MTH, HXM, MANU, WBAI
Thursday's ETF Movers: ITB, KRE
Related symbols: DHI, MHO, TBBK, TCBI, KRE, ITB
IWM, CHII: Big ETF Outflows
Related symbols: IWM, CHII, ARCP, AYI, HOLI
Wednesday's ETF with Unusual Volume: FEMS
Related symbols: FEMS, JASO, DANG, IMOS, XIN
Daily Dividend Report: AAPL, JNJ, PFE, C, V
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Daily Dividend Report: CNI, MWE, SXL, CMA, DD
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Daily Market Wrap: April 4, 2012
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