Market Insider

With US data in the freezer, traders look overseas

In a week rife with U.S. data, equity investors have not been swayed by economic reports, whether worse, or better, than projected. And that's not likely to change, given the weather pass currently being granted to the numbers.

"We're going to be debating whether it's the weather, or something more fundamental, until the weather gets better," said Hugh Johnson, chairman of Hugh Johnson Advisors, who expects that reports unencumbered by the harsh winter won't be forthcoming until April or May.

Friday's nonfarm payrolls report is no exception, regardless whether it surprises to the upside or downside. "Friday will have some sort of a surprise, but I don't think it's going to pry anybody away from this view, that the numbers have been very much affected by the cold weather," Johnson said.