Back In The Saddle
Hope everyone enjoyed the long holiday weekend. Too bad it wasn't long enough to forget the fact that last week was the worst week for the Nasdaq since the summer.
But the market is getting a lift in early trading today, so maybe we can have a strong finish for the year. Oil is trading up a little, which is lifting the energy complex. Bond yields are lower again, with the 10-year trading at 4.60%.
The 10-year yield saw a big spike last Friday, which pushed it above its 50-day average. We'll have to see if this continues to provide resistance, or if the 10-year is going to make another run higher.
Semis and energy stocks are strongest this morning, so far, while retailers are weak. Seems no one is really that positive on the holiday retail season. Maybe a lot of people are waiting for those post-Christmas sales.
In other news and notes:
- Asian markets rise overnight
- Wachovia makes COST Top Pick for 2007
- Magniture 6.7 earthquake hits off Taiwan
- Kaufman says holiday retail traffic was light
- Britain's largets supermarket offering Apple products
- Iraq upholds Saddam Hussein death sentence
- TELK stock crushed on drug trial results