Posted by: cfigueira | March 5, 2010

The Day Ahead: Greek Austerity Plan, ISM Manufacturing, ADP Jobs, Fed Speak

Posted To: MND NewsWire

It’s a busy day ahead as investors will eye key data on the manufacturing industry and receive one of the top forecasting tools for the monthly employment release. Until the data hits the market, focus is on Europe as the Greek government recently new austerity measures so it can meet its deficit-cutting pledge. News reports say the plan will raise taxes and slash spending. In the US, about 90 minutes before the bell sounds, Dow futures are off 7 points to 10,392 while S&P 500 futures are about flat at 1,171.10. Meantime, commodities are on the rise. WTI crude oil is up 39 cents to $80.07 per barrel and Spot Gold is up $3.95 per ounce to $1,138.65. Key Events Today: 8:30 ― The ADP Employment Survey saw the economy shed 22K private jobs in January ― the twenty-fourth consecutive month…(read more)

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