Stocks retreat as caution builds on Wall Street

It’s the first two-day slide for the Dow and S&P 500 (^DJI, ^GSPC, ^IXIC), as caution is the name of the game on Wall Street. Catch The Final Round at 4 p.m. ET with Jen Rogers and Yahoo Finance markets correspondent Myles Udland.

Winners and losers

Stocks in the red include Thor Industries as the maker of Airstream campers reported margins taking a dip from a year ago, Pandora as Liberty Media says it’s very unlikely it will acquire the internet radio provider; and Dick’s Sporting Goods, with shares dropping despite an earnings and revenue beat, as the sports goods retailer reported current quarter earnings estimates that missed the mark.

Stocks in the green today include Dish Network as it will replace Linear Technology in the S&P 500 on March 13; Rambus as JP Morgan Securities added the chipmaker to its U.S. Focus List, citing strong valuation; and Nimble Storage, with shares surging after HP Enterprise said it would acquire the flash storage maker for $1 billion in an all-cash deal, with an additional $200 million paid out for unvested equity awards.

Bull market turns eight … or does it?

This week marks the 8th anniversary of the S&P bottoming out at 666 and the current bull market run starting. But Joe Fahmy, managing director at Zor Capital says this bull market isn’t eight years old; it’s closer to 8 months old. He joins us now to explain.

Looking ahead

  • At 8:15 a.m. EST, ADP releases its private employment report for February, which is expected to show 183,000 new jobs. Last month the gauge hit 246,000, which closely tracked the strong non-farm payrolls report.

  • At 10:30, the EIA will release oil supply figures for the week. Last week crude inventories rose 1.5 million barrels, as overall supply hit another all-time record.

  • And tomorrow is International Women’s Day, a global initiative that traces its origin back to 1909. Coinciding with it is “A Day without a Woman” protest, where women are encouraged to take the day off to strike, to make apparent “the enormous value that women of all backgrounds add” to our society. Women and men are asked to wear red tomorrow to show solidarity.

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