March 5, 2009 (FinancialWire) (By Philip Holmes) -- Stocks ended higher on Wednesday, ending a five-day losing streak that pushed major indexes to lows not seen since the 1990s. The reason for the day's bounce? A weak jobs reports, details of a mortgage bailout plan that nobody thinks will work, and news from the Fed that economic recovery won't take place until 2010. There was some promising news from China, however. Investors eyed a U.S. ADP report for February that showed private payrolls declining 697,000 over the month. The goods producing sector lost 338,000 jobs, while manufacturing showed a decline of 219,000. The service sector lost 359,000 jobs, while construction lost 114,000. The Institute for Supply Management's service sector index fell 1.3% in February, to 41.6. The drop was not quite as bad as expected. The Federal Reserve's Beige Book doesn't anticipate an economic recovery until 2010. President Obama's $75 billion mortgage relief plan launched on Wednesday. The plan aims to cap monthly mortgage payments at 31% of monthly gross income, or less. The plan is aimed at helping up to nine million borrowers who are facing financial hardship, whose loans would be modified to reduce monthly payments. Experts find the plan encouraging but way too limited in scope to put a halt to either foreclosure activity or declining house prices nationwide. There was some good word from China on Wednesday. The country's government reported that manufacturing activity increased for the third straight month. Rumor has it that Chinese Premier Wen Jiabao may add to the country's $585 billion stimulus program in the next few days. Are investors hopeful that China may lead a global economic recovery despite continuing weakness in the US? That would certainly show a new level of decoupling.

The Investrend Earnings Calendar features Alon USA Energy (NYSE: ALJ), expected at $0.69; B&G Foods (NYSE: BGF), expected at $0.26; Bio-Reference Labs (NASDAQ: BRLI), expected at $0.18; Fuel Systems Solutions (NASDAQ: FSYS), expected at $0.42.

The Investrend Economics Calendar lists Alon USA Energy (NYSE: ALJ), expected at $0.69; B&G Foods (NYSE: BGF), expected at $0.26; Bio-Reference Labs (NASDAQ: BRLI), expected at $0.18; Fuel Systems Solutions (NASDAQ: FSYS), expected at $0.42.

The Investrend Events Calendar showcases KND, ELN, UHS, MYGN at Stanford Group Company Healthcare Conference; MORN at Ibbotson Conference; MS at CFA Institute Asset and Risk Allocation Conference; MWA, WTS, NPO, GVA at Davenport Basic Industries Conference; NPBC, UCBH, WL, SIVB at Keefe, Bruyette & Woods Regional Bank Conference.

The Investrend Money Index is an indicator of the depth of market direction or indirection. While not always including the same stocks, the NYSE/NASDAQ 50 Most Actives indicate the direction in which the mass of money is flowing. Last session's trading showed 36 advancers versus 14 decliners. Advancers were led by Dryships Inc. (NASDAQ: DRYS) up 39.78%, Freeport Mcmoran B (NYSE: FCX) up 13.38%, Caterpillar Inc (NYSE: CAT) up 13.22%, Alcoa Inc (NYSE: AA) up 12.84%, Companhia Vale Ads (NYSE: RIO) up 12.31%, Powershares Db Crude (NYSE: DXO) up 12.26%, Hartford Fin Svc (NYSE: HIG) up 11.02%, Ishares Tr Ftse Indx (NYSE: FXI) up 9.27%, U.S. Oil Fund Etf (NYSE: USO) up 8.74%, Petroleo Brasileiro (NYSE: PBR) up 8.21%, Altera Corporation (NASDAQ: ALTR) up 8.06%, Nvidia Corporation (NASDAQ: NVDA) up 7.36%, Morgan Stanley (NYSE: MS) up 6.71%, Research In Motion Limited (NASDAQ: RIMM) up 6.69%. Decliners followed Us Bancorp (NYSE: USB) down 12.48%, Wells Fargo & Co New (NYSE: WFC) down 9.47%, Jp Morgan Chase Co (NYSE: JPM) down 8.14%, Citigroup Inc (NYSE: C) down 7.38%.

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Quote of the Day: "When I began playing the game, baseball was about as gentlemanly as a kick in the crotch." Ty Cobb

Today is: Saint Piran's Day, Nametag Day.

Happy Birthday: King Henry II of England, Charles Goodnight, Howard Pyle, Sir Rex Harrison, Dean Stockwell, Andy Gibb.

Today in History: England King Henry VII issued letters patent in 1496 to John Cabot and his sons, authorizing them to discover of unknown lands. Five Americans, including a black slave named Crispus Attucks, and a boy were killed in 1770 by British troops in what would be called the Boston Massacre, helping start the American Revolutionary War five years later. Samuel Colt made the first production-model revolver (.34-caliber) in 1836. A court of impeachment was organized in 1868 in the United States Senate to hear charges against President Andrew Johnson. George Westinghouse patented the air brake in 1872. Nikola Tesla, in Electrical World and Engineer, described in 1904 the process of ball lightning formation. President Franklin D. Roosevelt declared a "bank holiday" in 1933, closing all United States banks and freezing all financial transactions. British pound fell below $2 U.S. for the first time in 1976. Earth satellites recorded in 1980 gamma rays from remnants of supernova N-49.

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