After yesterday's big selloff, investors and brokers alike look to come out from under their desks to take a peek at today's economic data.
The (final) fourth-quarter
Gross Domestic Product (GDP) report and the
initial jobless claims hit the Street before the opening bell. The GDP data measures the change in the market value of goods and services produced in the economy. Basically, it is the pulse of the U.S. economy. The Street is expecting a 1.1% reading compared to 2.2% from the previous quarter. Initial jobless claims should provide a snapshot of the latest labor market conditions. Look for both indicators to factor in today's trading session.
On the earnings front, mortgage banking firm
reports profit results for its fiscal fourth quarter today. According to
Thomson Financial/ First Call
, the California-based company is expected to post earnings of 84 cents a share, up from 65 cents a year ago.
Shares of Countrywide traded up 1.8% to finish at $44.88 yesterday.
Expected Earnings Reports
This table includes S&P 500 companies only. Dates are as expected according to First Call/Thomson Financial, and may change. The full week's earnings calendar is published separately.
Forecasts are from
. Times are Eastern. For a longer-term economic calendar and more, see
- 8:30 a.m.:
Gross Domestic Product for Q4--final. Source:
Commerce Department. Forecast: 1.1%. Previous: +2.2% (Q3).
Implicit price deflator: Forecast: +1.9%. Previous: +1.6%. (3Q).
Initial jobless claims for the week ended March 24. Source:
Labor Department. Forecast: 377,000. Previous: 379,000.
Four-week average: Forecast: N/A. Previous: 377,000.
Help-wanted Index for February. Source:
Conference Board. Forecast: N/A. Previous: 76.
IPO Lockups Expiring
Michael Falbo, who writes a column for
ipoPros.com subsidiary, keeps a close eye on lockup expirations every week. For more on lockup expirations and why they matter, check out Ben Holmes' primer on the subject. The full current lockup expiration list is published separately. For information on IPO pricings, filings and aftermarket activity, plus a calendar of upcoming IPOs, check out
IPO data section.
Deutsche Alex Brown