YAHOO [BRIEFING.COM]: Equities were stuck in negative territory all day long, with initial weakness following the announcement that China would target 7.5% growth in 2012, its lowest target since 2004. Also weighing on global equities were disappointing data points out of Europe. Here in the U.S., both ISM Services and factory orders numbers were above expectations, however, they were unable to provoke buying. Stocks hit their lows around mid-day, with the Nasdaq Composite (-0.9%) underperforming the broader S&P 500 (-0.4%) as Apple (AAPL 533.16, -12.02) showed notable intraday weakness, on no apparent news. Some buying interest lifted stocks off their lows this afternoon, finishing their day approximately 0.4% off the lows.

Today's economic data included the February ISM Service reading and January Factory Orders. The ISM Service Index jumped to 57.3 in February from 56.8 in the prior month, surpassing the 57.0 Briefing.com consensus. Factory orders were less exciting. During January they decreased by 1.0%, which is better than the 1.9% decrease that had been widely expected.

Corporate news was relatively light today, but there were a few items worth noting. Shares of American International Group (AIG 30.41, +0.61) finished higher by 1.9% after the company announced it has sold $6 billion worth of ordinary shares of its Asia subsidiary AIA in an effort to repay its federal government bailout. The U.S. Treasury owns 77% of American International Group after its massive $182 billion bailout of the company during the heart of the 2008 financial crisis.  

BP (BP 47.96, +0.46) traded higher by 1.0% after the company indicated it has reached a settlement agreement related to Gulf oil spill claims for $7.8 billion. The agreement will compensate individuals and businesses for economic loss and medical claims resulting from the 2010 oil spill. The payment will be made from the $20 billion compensation fund set aside by the company.

Archipelago Learning (ARCL 11.09, +2.05) jumped 22.5% after the company announced it would be acquired for approximately $291 million, or $11.10 per share. The purchase price represents a 23% premium to Friday’s close.

Walgreen (WAG 33.33, +0.64) finished higher by 2.0% despite announcing February same store sales fell 4.6% (-1.4% Retail Metrics Consensus). Total sales for the second quarter of fiscal year 2012 were $18.63 billion, slightly above the $18.53 billion Capital IQ Consensus Estimate). 

Treasuries saw modest selling pressure all session long as a loss of 24/32 had the long bond leading the way lower. Meanwhile, a more modest decline of 8/32 dropped the 10-yr to 99 29/32 while its yield flirted with the 2.00% threshold. Despite today’s selling, the yield curve ended the day unchanged at 170 basis points.   

April crude oil ($106.72 +0.04) chopped around the unchanged line in late floor trading, and ended little changed after earlier losses. April natural gas ($2.36 -0.12) continued to trade in a tight downward pattern, extending its losses as the session wore on. Natural gas hit a session low of $2.35, and closed its floor trading just a penny above its lows. April gold ($1704.10 -5.10) and May silver ($33.76 -0.76) both spent the majority of the day in negative territory Silver fell to a session low of $33.56 while gold broke below the $1700.00 level, falling to a low of $1694.40 before paring its losses. May copper ended off $0.04 at $3.86.

There is no economic data scheduled for tomorrow. There are approximately 15 companies scheduled to report earnings tomorrow morning, although, none are market moving reports. Major events to be aware of later this week include the Greek debt swap deadline (Thursday) and the February employment report (Friday), both of which could be broad market volatility catalysts.DJ30 -14.76 NASDAQ -25.71 SP500 -5.30 NASDAQ Adv/Vol/Dec 1140/1.64 bln/1370 NYSE Adv/Vol/Dec 1231/701.1 mln/1816