More Benign Inflation Data

The market is getting another bounce in early trading. The SPX crossed the 1400 level this morning, for the first time since...get this...November 2000. Hard to believe its been 6 years since we have seen a 14-handle on the S&P.

We also got more benign inflation data, as the core CPI came in below expectations (+0.1% vs. +0.2%), while the overall CPI actuall fell. This is good news for all of the inflation worrywarts, and helped push bond yields lower. The 10-year yield is at 4.60%.

After the close yesterday, S&P announced that BTU would be added to the S&P 500 Index.

In other news and notes:

• WSJ reports that the Las Vegas locals market has slowed
• KBR IPO begins trading
• BEAV profiled in IBD
• Hambrecht puts a $130 tgt on BIDU
• BEAS reports weak results; stock down -15%
• DELL delays earning report
• PTRY lowers guidance; stock lower
• UBS raises RIMM tgt to $160
• INTC raises qtrly dividend 12%
• Did it really take Cramer to make the CanRoys bounce?

long BEAV, BTU, INTC