Market Happenings for Wednesday, March 28, 2012

Pre-market, futures are mixed. Gainers this morning include MHS, ESRX, TYC, NVDA and DTV while losers include NYX, CAG, NUE, JBL and MU.

The Market

European stocks were mixed in midday trading and Asian markets ended lower.

The national average price for a gallon of gasoline was up today to $3.911, up $0.013 from yesterday.

The dollar was down against the euro and Japanese yen, but was up against the British pound.

Oil for May delivery dropped $1.24 to $106.09 a barrel.

Gold futures for April delivery dropped $11.30 to $1,673.60 an ounce.

The price on the benchmark 10-year U.S. Treasury was down, pushing the yield up to 2.22% from 2.19% late Tuesday.

Earnings Reports

Earnings reports (confirmed releases): MOS-Mosaic (earnings consensus $0.69), PAYX-Paychex (0.37), RHT-Red Hat (0.27), FDO-Family Dollar Stores (1.13), HII-Huntington Ingalls Industries (0.94), CMC-Commercial Metals (0.09), FUL-HB Fuller (0.37), PRGS-Progress Software (0.25), UNF-Unifirst (0.88), VRNT-Verint Systems (0.68), TXI-Texas Industries (-0.82), LNN-Lindsay (0.82), TEA-Teavana Holdings (0.31), NGL-NGL Energy Partners LP (0.68), RECN-Resources Connection (0.08).

Financial Calendar

0700 ET Weekly MBA mortgage applications, previous -7.4% with purchase mortgage sub-index -1.0% and refinancing sub-index -9.3%.

0830 ET Feb durable goods orders expected +3.0% and +1.7% ex transportation, Jan -3.7% and -3.0% ex transportation.

1300 ET Treasury auctions $35 billion 5-year T-notes.

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