This is the last trading session for the week, as the stock market will be closed tomorrow for Good Friday. Stocks have been trading higher today. Oil prices are heading lower as news of a potential outline on a nuclear pact with Iran hits the wire.  No details have been given but there should be a series of conferences taking place shortly.  All indications are that there should be enough to continue the talks until the June 30 deadline.

Factory orders for February beat expectations with an increase of 0.2 percent.  US Oil Rigs are down by 686 versus a year ago, and the dollar is lower against the Euro.

Today, McDonald’s followed actions taken by Walmart, T-J Max, and Target, and announced that it plans to raise salaries by 10% for 90,000 of its employees to more than dollar above the local minimum wage.  The increase is not applicable to 90% of McDonald’s 14,000 stores which are franchise location.  It will be interesting to see how actions like these play into the Federal Reserve decision making on hiking interest rates.

We are going to keep our powder dry as we wait for news regarding Iran and for the Job’s Report tomorrow.

Have a great holiday weekend.  Happy Passover.  Happy Easter.