Monday Morning Musings

The market is getting a little boost after the open. There was not much M&A activity, but at least there was a little. You can't expect blockbusters every week.

Earnings season kicks off this evening, with a report by Alcoa (AA). Expectations are fairly subdued, as far as earnings growth expectations go. But I expect the most reports will again be better than expected, and that overall earnings will come in above current consensus.

Asian markets were up a lot overnight, continuing their recent run. I sold my EEB a couple of weeks ago, but it continues to surge to new highs. The EFA etf is also breaking out to new highs.

Oil is down slightly this morning, but likely not for long. Bond yields are also a little lower, with the 10-year around 5.15%.

Semis are strongest so far this morning, while retailers are lagging.