Small Bounce At The Open
The market is fairly flat at the open. After a two day spike in yields, the 10-year is trading down sharply again, falling 5 basis points to 4.65%.
Semis are leading the way, and financials are strong again also. Oil is trading slightly lower, just below $60. Energy and utility stocks are the weakest groups so far.
In other news and notes:
- MSFT to offer movies, tv downloads to Xbox gamers
- URBN sales come in light; stock rallies
- EMR beats revs, EPS; 2:1 stock split
- VTIV beats and raises; stock +6%
- IGT beats by a penny; stock slips
- SIRF settles patent suit with u-Nav
- Roth ups NEW to buy; $47 target
- HANS forming committee to review options
- EXPD reports in-line qtr; stock slides
- BRCM holds analyst day; stock strong
- Lehman raises targets on oil companies
long EMR, URBN