(As of 7:15 am PST)
Markets have opened much like they did yesterday with
modest gains as big names continue to report earnings. Tech stocks are pacing gains with the Nasdaq
up .7% as Microsoft and Amazon both reported strong earnings beats sending shares
up 6% and 10% respectively. Other
companies who reported include Zynga, UPS, and Proctor & Gamble all in line
or exceeding expectations. There is some
economic data out this morning worth noting.
US durable goods orders rose 3.7% in September led for the most part by
a large increase in aircraft bookings.
Stripping out the volatile transportation sector, durable goods declined
by 0.1% and core capital goods slipped 1.1%, a lackluster report. Also released this morning was the Univ. of
Michigan/Thomson Reuters Consumer sentiment index which showed the final
reading of consumer sentiment in October falling to 73.2 from 77.5 in
September. Sentiment hit the lowest
level since last December, likely due to the government shutdown and political
squabbling of the past month. European
markets are mixed as they near the close of trade while Asia took a beating on
poor Chinese earnings. Gold is lower and
oil higher while interest rates continue to slide with the 10 yr. treasury
yield dipping for a moment just below 2.5%.
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