Solid Housing Data Not Enough To Boost Stocks In Early Trading

The market is down a little in early trading, after a disappointing earnings report from Best Buy (BBY). Investors often look to BBY as a good "tell" on the consumer, since it sells so many products that are popular with consumers.

There were some solid housing figures this morning, but the market is shrugging them off, likey due to the fact that they cover a period before the recent runup in interest rates.

Yahoo (YHOO) got a boost before the open, after CEO Terry Semel said he was stepping down. But the enthusiasm quickly faded, and the stock is lower once again. I have always wondered why YHOO continued to trade at a premium to Google (GOOG), but maybe that is beginning to change.

Asian markets were mostly higher overnight. Oil is trading lower this morning, but it still above $68. And the 10-year yield is also lower at 5.12%.

long GOOG