Bull Run Skids, ADP Let Down, Oil Soars

The bull run skidded to an end today. Lower than expected ADP employment figures combined with a poor showing in manufacturing fueled the selling. Oil and gold climbed on the weaker U.S. dollar as a bearish aura descended on shares. Mores worries from Greece and climbing Treasuries topped off the pessimistic session. The DJIA led by Boeing and 3M gave back -50.79 to 10856.63, the tech heavy Nasdaq fell -12.73 to 2397.96 and the broad based S&P 500 dropped -3.84 to 1169.43.

^CQB^: Shares fell 4.72% or 78 cents to $15.73 after the company warned of a poor first quarter.

^RAD^: A wider than expected loss sent shares skidding 4.72% or 78 cents to $15.73.

^WMG^: Climbed 4.54% or 30 cents to $6.91/share on industry merger, licensing and acquisition chatter.

^ATSG^: Shared took off climbing 44.81% or $1.04 to $3.35 after signing a deal with DHL to provide aircraft and services.

Oil climbed $1.01 to $83.38, gold advanced $8.60 to $1114.00 and the VIX added 2.69% to 17.59.

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Market Snapshot

Dow

-50.79 10,856.63

NASDAQ

-12.73 2,397.96

S&P 500

-3.84 1,169.43
Economic
News

Personal Income (Feb): Consensus: 0.1%, Prior: 0.1%

Personal Spending (Feb): Consensus: 0.3%, Prior: 0.4%

PCE Prices – Core (Feb): Consensus: 0.1%, Prior: 0.0%

Case-Shiller 20-city Index (Jan): Consensus: -0.6%, Prior: -3.1%

Consumer Confidence (Mar): Consensus: 50.0, Prior: 46.0

ADP Employment Change (Mar): Consensus: 40K, Prior: -20K

Chicago PMI (Mar): Consensus: 61.0, Prior: 62.6

Factory Orders (Feb): Consensus: 0.5%, Prior: 1.7%

Crude Inventories (03/27): Consensus: NA, Prior: 7.25M

Continuing Claims (03/27): Consensus: 4600K, Prior: 4648K

Initial Claims (03/27): Consensus: 440K, Prior: 442K

Construction Spending (Feb): Consensus: -1.0%, Prior: -0.6%

ISM Index (Mar): Consensus: 57.0, Prior: 56.5

Auto Sales (Mar): Consensus: NA, Prior: 3.7M

Truck Sales (Mar): Consensus: NA, Prior: 4.2M

Nonfarm Payrolls (Mar): Consensus: 190K, Prior: -36K

Unemployment Rate (Mar): Consensus: 9.7%, Prior: 9.7%

Average Workweek (Mar): Consensus: 33.9, Prior: 33.8

Hourly Earnings (Mar): Consensus: 0.2%, Prior: 0.1%