Financial stocks helped US Market end higher today, Monday, 31 March, 2008, the last trading day of March and the first quarter of FY 2008. Some restructuring efforts on Citigroups front helped market get some fresh lease of air today. Eight out of ten sectors ended in the green today. Healthcare and Materials were the only two economic sectors to finish in negative territory.

But even with todays gain, indices finished in the red for the fifth consecutive month, the longest streak for US Market in past eighteen years. The first quarter marked the worst quarter in almost six years.

For the day, The Dow Jones industrial Average ended with a gain of 46.5 points at 12,262.89. The Nasdaq Composite Index, finished higher by 17.9 points at 2,279. S&P; 500 finished higher by 15 points at 1,325.

Twenty-five out of thirty Dow stocks ended in the green today. Citigroup along with other financial Dow components led the team of Dow winners. Merck was one of the major Dow laggard.

In the currency market today, the dollar traded mostly higher against other major currencies, with the dollar index gaining 0.2% at 71.74. Among major economic data today, business activity in the Chicago region continued to contract in March, but the contraction was less severe than in February.

Crude prices fell substantially today as tensions eased in Iraq and dollar rebounded against its rivals. Prices also softened on signs that a U.S. report will show inventories rose for the 11th time in 12 weeks as demand weakened.

Crude-oil futures for light sweet crude for May delivery closed at $101.48/barrel (lower by $4.04/barrel or 3.8%) on the New York Mercantile Exchange. Prices earlier rose by $1.16 during intraday trading. Crude prices are 54% higher on a yearly basis. For the year, crude is up by 5.8% till date. It touched a high of $111.8 on 17 March, 2008 but has slipped thereafter. For March, it closed almost stagnant, lower by a mere 26 cents on a m-o-m basis.

Volume on the New York Stock Exchange neared 4.1 billion shares, and advancing stocks outpaced those declining 5 to 3. On the Nasdaq, more than 1.7 billion shares were exchanged, and advancers edged ahead of decliners, 4 to 3.

For tomorrow, a number of economic reports are expected. March's ISM Manufacturing Index is due shortly after tomorrow's opening bell which offers a reading of production, new orders, and inventories, providing market participants with an advanced glimpse into manufacturing's contribution to first quarter growth. It will be followed by February's construction spending figures.

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