Market Happenings for Wednesday, March 21, 2012

Pre-market, futures are mixed. Gainers this morning include HIG, RF, ORCL, KMX and IFF while losers include BHI, JBL, HAL, ISRG and NBR. Light crude is up +0.11% at 106.19 and gold is up +0.13% at 1,649.10.

The Market

European markets are down in morning trade and Asian markets ended mixed.

The housing market is in focus today with a report on existing home sales and the weekly Mortgage Bankers Association application index due.

Data released yesterday by the government showed a big increase in requests for building permits in February, although new home construction was weaker than expected.

Gas prices rose by 1.8 cents to a national average of $3.864 and marks the twelfth consecutive day prices have risen. Gas prices are up 17.8% this year.

Earnings Reports

Earnings reports (confirmed releases): GIS-General Mills (earnings consensus $0.55), DFS-Discover Financial Services (0.92), CLC-CLARCOR (0.47), ATU-Actuant (0.38), MFRM-Mattress Firm Holding (0.22), FRED-Fred’s Inc. (0.24).

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -2.4% with purchase mortgage sub-index +4.4% and refinancing sub-index -4.1%.

1000 ET Feb existing home sales expected +0.9% to 4.61 million, Jan +4.3% to 4.57 million.

Both comments and pings are currently closed.

Comments are closed.