Earning's Season
1st month of the quarter
Dow 11134.29 +9.37 0.08%
Nasdaq 2519.07 +14.46 0.58%
S&P 1208.67 +2.73 0.23%
IBD - Market in confirmed uptrend. Positive reversal off the lows of the day on greater volume
In economic news,
Initial jobless claims and producer prices disappointed. Weekly initial jobless claims were slightly higher than expected at 456,000 and continuing claims were worse than expected at 4.65 million.
PPI increased 0.7% in March, but core producer prices were up a tepid 0.1%, which was in-line with expectations.
Existing-home sales topped estimates. Stronger-than-expected 6.8% increase in existing home sales during March. Sales hit an annualized rate of 5.35 million units, the highest this year, thanks to rush of homebuyers that wanted to take advantage of tax credits.
Worries over Greece returned as Moody's downgraded the nation's debt. This appeared to set the tone for the early day sell off.
Technicals
The S&P 500 daily found support off it's 20 day MA
