MIDDAY LUNCH

Dow 10414.75  +17.99, Nasdaq 2283.02  +2.34,S&P 1119.70  +0.91 

The energy sector is having a tough day and now trades at a fresh session low with a -0.8% loss, which is worse than any other major sector. Oil well services and equipment outfits are especially weak; in particular, National Oilwell Varco (NOV) 43.11 -1.22, -2.76% and Nabors Industries (NBR) 22.44 –0.76, -3.28%.

Energy commodities are also weak. Crude oil prices are down -0.9% lower at $80.15 per barrel and natural gas is down -3.9% to $4.57 per MMBtu.

Trading remains light today, as traders take a cautious stance ahead of the release of tomorrow’s non-farm payroll numbers.  The administration has already warned that the numbers will be not look good, claiming the resent snow storms affected the numbers.  On average, economists expect that February nonfarm payrolls fell by 65,000 after a 20,000 drop in January.

Financials are showing gains today. Goldman Sachs (GS) 163.01 +5.29, +3.36% has led the sector to a +0.7% gain.  According to The Wall Street Journal, Goldman provided debt swaps that enabled the Greek government to use favorable exchange rates to record some of its debt, which was offered as part of Greece's efforts to strengthen its fiscal condition.

Deutsche Bank (DB) 67.29 +0.73, 1.10% is also posting gains, even though the company was downgraded by Moody's.  Moody's put a long-term deposit and senior debt rating of Aa3 on the company, down from Aa1.  Deutsche Bank's bank financial strength rating was lowered to C+ from B.