Investors Pleased With Falling Food And Energy Prices Report

Do you ever get the feeling that this market never goes down? If you have cash you are waiting to put to work, and hoping for a dip to do so, this can be frustrating.

The market opened higher again this morning, on the heels of the PPI report that showed food and energy prices fell. We also got solid earnings reports from JNJ, Coca-Cola (KO), and Merrill Lynch (MER). Last, there was more M&A activity, as Dutch chemical company Basell agreed to buy Lyondell (LYO) for $12.1 billion in cash.

Oil is pushing higher again, topping $75. Bond yields are also up slightly, to 5.08%. But neither of these seems to be weighing on the market at the moment. Let's see if this early strength is sustainable into the close.

Asian markets were mixed overnight, but Japan wasn't down that much given the earthquake that rattled the region.