Most global markets have rallied and futures indicate the U.S. markets will follow suit at the open. The true test for the day will be how sentiment affects the close. International markets have been supported by news that China may announce a new stimulus plan on top of the $585 billion it has already pledged.
On the economic front, payroll services company ADP said the private sector shed 697,000 jobs in February, much more than expected. But the outplacement group Challenger, Gray and Christmas said the number of planned job cuts announced in the month fell for the first time since December. The two jobs reports serve as a preface for the government's February data due later Friday. The ISM Services Index, oil inventories, and the release of the Fed’s beige book are all schedule for today.
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