- Market Commentary -

March 1, 2010 (FinancialWire) (By Genevieve Hawkins) — Wall Street suffered modest losses last week which could continue if earnings from the likes of Staples (NASDAQ: SPLA) are less than stellar.

Renewed concern about sovereign debt issues in Greece led the Dow down 0.8%, while the Nasdaq slid 0.3% and the S&P 500 dipped 0.4%. Although the recession is supposedly over the murky financial picture appears to be darkening, making losses more likely.

For the coming week investors will be focusing on economic indicators including readings on personal income and consumption, February car sales, and the all important employment number. Market watchers will also be mindful of any bailout proposed over Greece’s debt problem. Major news could mark a return to volatility, but the spikes and dips could cancel each other out.

A double dip recession may be in the works, eventually taking the stock market down with it.

[Go to http://www.financialwire.net/?s=genevieve+hawkins to see more commentaries by Genevieve Hawkins.]

The FirstAlert(tm) “Money Index” is an indicator of the depth of market direction or indirection. While not always including the same stocks, the combined NYSE, NASDAQ and AMEX 25 Most Actives and combined NYSE, NASDAQ and AMEX greatest Percentage Losers and Percentage Winners (weighted against pure monetary loss/gain) indicate the direction in which the mass of money is flowing, as well as the general focus of the market. The most recently published FirstAlert(tm) Money Index Synopses are accessible via FinancialWire.net (at http://www.financialwire.net/?s=index+synopsis).  The data providing the basis for the FirstAlert(tm) Money Index is provided courtesy of Stock Smart, and complete Stock Smart charts and closing summaries are directly accessible via a dedicated Investrend.com webpage (at http://www.investrend.com/fa-index).

The FirstAlert(tm) Economics Calendar lists Personal Income & Spending for January (8:30 a.m.), ISM Index for February (10 a.m.), Construction Spending for January (10 a.m.), Treasury auctions 3&6-month bills (11:30 a.m.), Auto Sales for February.

The FirstAlert(tm) Events Calendar showcases ARW, HNZ, WFC at CLSA AsiaUSA Forum; BEAV Investor Day; CMP, CNX, CCJ at BMO Capital Markets Global Metals & Mining Conference; COBZ, ONB at Sandler O’Neill & Partners West Coast Financial Services Conference; CRM, EBAY, TXN, NFLX at Morgan Stanley Technology, Media & Telecom Conference; DAN, HK, DENN, HTZ at JPMorgan Global High Yield and Leveraged Finance Conference; EGP, OFC, BRE, BXP at Citi Global Property CEO Conference; FIRE, IPAS, FTNT, ARST at America’s Growth Capital InfoSec and West Coast Emerging Growth Conference; HIG, AFL, XL, SFG at The Association of Insurance and Financial Analysts (AIFA) 35th Annual Conference; IMGN, IMMU, POZN at Brean Murray, Carret & Co. Boston Healthcare 1×1 Conference; PCG Investor Conference; SHOR, MCK at HIMSS 2010.

FirstAlert(tm) Website of the Day: http://www.ipanema.com/

Quote of the Day: “They say that after a brush with death the world looks different and that was true for me, but by the time I caught my breath, I realized that it was because I had lost my glasses.” Michael Anthony Dorris

Today is: Beer Day.

Happy Birthday: Sandro Botticelli, Frédéric Chopin, Glenn Miller, David Niven, Yitzhak Rabin, Harry Belafonte, Robert Conrad, Gil Amelio, Roger Daltrey, Catherine Bach, Ron Howard, Mark-Paul Gosselaar, Adam LaVorgna.

Today in History: The city of Rio de Janeiro was founded in 1565. Georgeana, Massachusetts (now known as York, Maine) became the first incorporated city in America in 1642. The Salem witch trials began in Salem Village, Massachusetts, in 1692. The Continental Congress adopted the Articles of Confederation in 1781. The first United States census was authorized in 1790. Ohio was admitted as the 17th U.S. state in 1803. In 1815, Napoleon returned to France from his banishment on Elba. President John Tyler signed a bill in 1845 authorizing the United States to annex the Republic of Texas. Nebraska becames the 37th U.S. state in 1867. Yellowstone National Park was established as the world’s first national park in 1872. Henry Comstock discovered the Comstock Lode in Virgina City, Nevada, in 1873. Henri Becquerel discovered radioactivity in 1896. Venera 3 Soviet space probe crashed on Venus in 1966, becoming the first spacecraft to land on another planet’s surface. Voyager 1 probe confirmed in 1980 that Janus (moon of Saturn) exists. The TV game show The Price is Right aired its 6,000th episode in 2004.

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