(As of 7:25 am PST)
Markets are on the mend in early trading after a brief
pause yesterday. Most of the positive
momentum seems to be earnings driven as several large companies reported better
than expected earnings results. Intel made
headlines early after the chip-maker announced better-than-expected results and
offered an upbeat forward guidance.
Shares of Intel rallied 6% at the open. Economic data has been mixed to
start the day, keeping a lid on gains.
Investors will be focused on Fed Chairwoman Janet Yellen again today, as
she goes before the House Financial Services Committee for her second day of
congressional testimony. Yellen’s remarks
yesterday that the Fed could move sooner on raising rates if the labor market
continues to surprise, gave investors pause and sent stocks lower. Markets will be watching for any such remarks
from Yellen today as well. Asian markets
finished lower while Europe is poised for a strong day of gains. Gold, oil and interest rates are all up.
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