Strong Earnings Helping Stocks Bounce
The market is higher in early trading, as a string of positive earnings reports have helped push stocks higher.
The 10-year yield is down slightly to 4.81%. Oil is trading higher on a bigger than expected draw in inventories. Semis stocks are leading the way, +2.3%. Homebuilders are also bouncing even though CTX reported soft earnings. It looks like these stocks may have finally bottomed.
In other news and notes:
- Since they cancelled Smith, my new fav show is Friday Night Lights
- AMZN beat estimates; stock gap higher
- Cramer says GOOG goes to $560 (I say higher)
- MNST misses EPS, guides lower
- PFCB beats estimates; stock higher
- IHP beats estimates, raises guidance
- ISE beats estimates; stock at new high
- MICC beats estimates; stock gaps higher
- TROW misses EPS; stock down
- Trump and Wynn get together to build in AC
- NSC crushes the estimates by 20 cents
long GOOG, ISE