Quick Look: Market Holds On More Solid Earnings Reports

The market is slightly higher in early trading, as more good earnings reports roll in. Restaurant stocks reported strong results, with stocks like Chipolte (CMG) and Cheesecake (CAKE) vaulting higher this morning. Tech stocks like BIDU and RVBD are also very strong, with the latter declaring a 2-for-1 split. I hope AAPL and some others decide to split their stocks also.

Asian markets were mixed overnight. The dollar is roughly flat, with oil prices up a bit near $81 and gold prices off a bit to $1324.

The 10-year yield is still climbing, now at 2.56%, right up against its overhead 50-day. And the VIX is nearly unchanged at 19.15.

Trading comment: The market continues to hold up well. Yesterday, the early selloff faded late in the day, and it looked like it might turn into a big selloff. But the market found its footing late in the day and avoided a down day. The S&P 500 continues to hug the 1180 level. Many stocks are extended here, making new buys somewhat difficult, but keep a list of those reporting strong earnings as they will be the best candidates on any pullback.

long AAPL