What's Happening Today
As Congress digests the detailed plans offered by the Big Three automakers, we return today to some other economic news. Investors are eager to see Friday's unemployment report. In the meantime, payroll processor ADP issues its employment report this morning at 8:15 a.m. That may give us an idea of what to expect on Friday. Also, a report on the non-manufacturing service sector is out this morning at 10 a.m.
At 2 p.m. we'll watch for the Federal Reserve's Beige Book, a look at the economy by region. And we'll also check in on a meeting at the Securities and Exchange Commission that will examine the role of the ratings agencies in the financial meltdown.
In the global markets today, stocks in Asia closed mostly higher but Europe is looking more downbeat. The Nikkei closed up 1.8 percent and Hong Kong's Hang Seng closed up 1.4 percent. In Europe, the DJ Stoxx index is lower, down 1.6 percent, led by Germany's DAX, which is down 1.8 percent. London's FTSE is flat and France's CAC is down 1.4 percent.
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