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