Opening Look (Lower)

The market has opened on a down note. The core PCE deflator came in in-line (0.2%), which should bring some comfort on the inflation front as it eases concerns with the Fed that this indicator was going to show a further pickup in inflation.

Nonetheless, the 10-year yield is up slighlty to 5.00%. Oil looks like it is slightly higher this morning also, as is natural gas, which is helping th eenergy stocks.

In earnings, EMR reported another solid quarter, and the stock is higher. WMFI reported an in-line quarter, but comments about higher store opening expenses next year has scared investors, and the stock is getting whacked.

Of course, down openings haven't been too scary lately, so let's see if the market can recoup some of this early damage by the close.

News roundup is coming--

long EMR , WFMI