Stock Market Outlook for March 6, 2013
Upcoming US Events for Today:
- ADP Employment Report for February will be released at 8:15am. The market expects 173,000 versus 192,000 previous.
- Factory Orders for January will be released at 10:00am. The market expects a month-over-month decline of 2.2% versus a increase of 1.8% previous.
- Weekly Crude Inventories will be released at 10:30am.
- The Fed’s Beige Book for March will be released at 2:00pm.
Upcoming International Events for Today:
- The Bank of Japan Rate Announcement will be released. The market expects no change at 0 to 0.1%.
- Euro-Zone GDP for the Fourth Quarter will be released at 5:00am EST. The market expects a year-over-year decline of 0.9% versus a decline of 0.6% previous.
- Bank of Canada Rate Announcement will be released at 10:00am EST. The market expects no change at 1.0%.
- Canadian Ivey PMI for February will be released at 10:00am EST. The market expects 56 versus 58.9 previous.
Recap of Yesterday’s Economic Events:
| Event | Actual | Forecast | Previous |
| AUD Current Account Balance (Australian Dollar) | -14678M | -15300M | -15048M |
| AUD Australia Net Exports of GDP | 0.6 | 0.5 | 0.1 |
| AUD Retail Sales s.a. (MoM) | 0.90% | 0.40% | -0.40% |
| CNY HSBC Services PMI | 52.1 | 54 | |
| AUD Reserve Bank of Australia Rate Decision | 3.00% | 3.00% | 3.00% |
| EUR Italian Purchasing Manager Index Services | 43.6 | 43.5 | 43.9 |
| EUR French Purchasing Manager Index Services | 43.7 | 42.7 | 42.7 |
| EUR German Purchasing Manager Index Services | 54.7 | 54.1 | 54.1 |
| EUR Euro-Zone Purchasing Manager Index Services | 47.9 | 47.3 | 47.3 |
| EUR Euro-Zone Purchasing Manager Index Composite | 47.9 | 47.3 | 47.3 |
| GBP Purchasing Manager Index Services | 51.8 | 51 | 51.5 |
| EUR Euro-Zone Retail Sales (MoM) | 1.20% | 0.30% | -0.80% |
| EUR Euro-Zone Retail Sales (YoY) | -1.30% | -2.90% | -3.00% |
| USD IBD/TIPP Economic Optimism | 42.2 | 47.2 | 47.3 |
| USD ISM Non-Manufacutring Composite | 56 | 55 | 55.2 |
The Market
No commentary will be provided today. Be sure to tune into BNN at 4:30 to view my take on the Dow’s breakout to new all-time highs.
Seasonal charts of companies reporting earnings today are as follows:
S&P 500 Index
Chart Courtesy of StockCharts.com
TSE Composite
Chart Courtesy of StockCharts.com
Horizons Seasonal Rotation ETF (TSX:HAC)
- Closing Market Value: $13.38 (up 1.36%)
- Closing NAV/Unit: $13.33 (up 0.70%)
Performance*
| 2013 Year-to-Date | Since Inception (Nov 19, 2009) | |
| HAC.TO | 4.80% | 33.3% |
* performance calculated on Closing NAV/Unit as provided by custodian
Click Here to learn more about the proprietary, seasonal rotation investment strategy developed by research analysts Don Vialoux, Brooke Thackray, and Jon Vialoux.
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