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.
Wednesday Sector Laggards: Waste Management, General Contractors & Builders
Related symbols: BHTG, NEWA, WLH, HOV
Wednesday Sector Leaders: Vehicle Manufacturers, Entertainment Stocks
Related symbols: ADOM, FUV, LIVX, FOXA
Tuesday Sector Laggards: Non-Precious Metals & Non-Metallic Mining, Defense Stocks
Related symbols: ZEUS, CENX, AJRD, HII
Wednesday's ETF Movers: XBI, WOOD
Related symbols: TSRO, ONCE, PCH, UFS, WOOD, XBI
HYG, JDST: Big ETF Outflows
Related symbols: HYG, JDST
IEFA, XITK: Big ETF Inflows
Related symbols: IEFA, XITK, NXPI, TEVA, TWLO, MOMO
Daily Dividend Report: FITB, ORCL, HPQ, SRE, O
Related symbols: FITB, ORCL, HPQ, SRE, O
Daily Dividend Report: SBUX, LLY, USB, CL, IEX
Related symbols: SBUX, LLY, USB, CL, IEX
Daily Dividend Report: CPT, THO, WSM, IVR, ANH
Related symbols: CPT, THO, WSM, IVR, ANH
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Daily Market Wrap: April 4, 2012
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