Morning Stock Report – Stocks to Watch 3-7-09

International Markets

• Market:

-          US sold off early then flat-lined before going out on lows.

-          Fears recession will now be prolonged after jobs data shows rising unemployment.

-          Dow Sectors all in red. Best; Cons goods -1.4%, Cons services -1.9%, Telco’s -2.0%. Worst; Basic materials -1.2%, Financials -4.1%, Oil & Gas -3.0%

-          USD rises against the Euro. USD index gained as much as 0.9%

• Commodities:

-          RIO, share sale in the UK a success, with 97% taken up. Local results expected today.

-          Energy, all 40 stocks on the S&P500 index tumbled on back of the employment data.

-          Ivanhoe Mines +24% exp RIO shr sale boosts likelihood Mongolia project will proceed.

-          Gold falls against the rising USD.

• Eco Data:

-          Unemployment rate 9.5% v cons 9.6%. Highest level since 1983.

-          Initial jobless claims 614k v cons 615k

-          Factory orders +1.2% v cons 0.9%

Dow Jones  8,281 -223.3 -2.63%
NASDAQ  1,797  -49.2  -2.67%
S&P 500  896  -26.9  -2.91%
FTSE 100  4,234  -106.4  -2.45%
Nikkei  9,876  -63.8  -0.64%
Heng Seng  18,178  -200.7  -1.09%
Shanghai Comp.  3,060  52.1  1.73%
VIX Index  28  1.7  6.60%

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