The market is getting a little bounce at the open, but I would expect this to be tested at some point.
NSM said the Q2 sales will miss forecasts, but it does not seem to be weighing on the semis too much.
Energy stocks are getting a bounce as well, given how hard they have been hit. SLB got an upgrade, and is up nicely. But it is not pulling up some of the other oil service stocks.
AAPL continues to run higher, and seems to be pricing in a lot of the good news. This does look like it is setting up a 'sell the news' event no matter what the news is out of their meeting next week.
Gold is falling again today (GLD short?), as are most commodities. Bond yields are also lower, with the 10-year around 4.76%. Inflation worries? Not in the bond market.
Is it Friday? I like these short weeks.