Strong Tech Earnings Provide A Boost For The Market

The market is getting a boost in early trading on the heels of some strong earnings reports in the tech sector. Both Juniper Networks (JNPR) and IBM raised guidance and their stocks gapped higher at the open. This is helping the tech sector outperform the other parts of the market.

It is important to see the market reward companies that post strong earnings. It will be interesting to see how some of the big tech stocks that report this evening will fare. On tap are MSFT, GOOG, BRCM, GILD, and ISRG, to name a few.

Asian markets were higher almost across the board overnight, save for China where fears spread that the government may have to tighten more to cool things down.

Bond yields are slightly higher, with the 10-year at 5.04%, after coming down and touching its 50-day average yesterday at 4.99%.

And oil is higher again, hovering just below the $75.50 level. I believe oil is setting up for a similar pattern to last summer, when it peaked around July and then declined for the rest of the summer.

long GOOG, MSFT