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U.S. stock indices rallied sharply higher following the release of better than expected U.S. Non-Farm Payrolls Report. Investors drove up stock prices on the belief that the jobs data indicates an improving economy.

U.S. stock indices finished lower with the exception of the March E-mini S&P after failing to hold on to earlier gains. The break late in the session coincided with the release of Fed’s Beige book. At first trader reaction to the report was non-committal as it offered no new bullish economic news.

Investor optimism over a resolution to the sovereign debt problem in Greece and improvements in the U.S. economy are helping to boost U.S. equity markets following a change in trend to the upside on Monday. Traders expect the trend to continue today as the charts indicate very little resistance to the upside.

U.S. stock markets were under pressure early in the trading session because of another shift in risk sentiment. Sovereign debt issues in Greece put fear into traders initially, triggering liquidation of risky asset positions. This was followed by a better-than-expected Durable Goods report however the surprise drop in U.S. Weekly Jobs Claims drove equity markets sharply lower.

Today, Fed Chairman Bernanke will continue his testimony before the House Financial Services Committee. Yesterday he said the U.S. economic recovery has been “nascent” and requires low interest rates to help it sustain growth. He also said that low employment and subdued inflation allow the FOMC to keep downside pressure on interest rates.

The U.S. stock market rally stalled after an early morning surge following dovish comments from Fed Chairman Bernanke. In his testimony before the House Financial Services Committee, the Fed Chairman reiterated that interest rates would remain low for a prolonged period of time. While acknowledging that the economy was improving, Bernanke did say that high unemployment remains a concern.

The strengthening April Gold market is a strong indication that the pact between the European Union and Greece is imminent, thereby driving up demand for risky assets. Speculators are anticipating that the agreement to shore up the debt in Greece will be released shortly. This news should pressure the Dollar and underpin the gold market.

Toyota says it is recalling up to 1.8 million cars in Europe following an accelerator problem.

Stocks rose in early trading Friday after a new report shows the nation's economy grew at its fastest pace in six years.

U.S. stock indices sold off early in the trading session as fear swept through the markets. News that Greece’s budget problems could escalate along with Portugal sent traders into the Dollar and Japanese Yen and out of higher risk assets. Lower than expected U.S. economic reports also contributed to the weakness as traders liquidated positions in anticipation of a slowdown in the economy.