(As of 7:25 am PST)
Stocks are mostly higher to start the trading week, continuing the positive momentum that began late last week. The S&P500 and Nasdaq are higher but the Dow is down 0.5% as the blue chip index is being dragged lower by IBM's 7% decline on a disappointing earnings result. Today's economic data calendar is empty but will pick up later in the week with existing home sales and new home sales highlighting the week. In other news today, Dallas Fed President Richard Fisher said he supports the ending of QE3 next week as scheduled and that he has no concerns over inflation trending lower. After years of stimulus, the Federal Reserve will end its bond-buying program next week, a policy move that is likely priced in to the market, but will be the focus for investors the next couple weeks nonetheless. Asian markets rallied today on the heels of Fridays session on Wall St. European markets sold off Monday showing continued signs of weakness. Treasury prices rose sending interest rates down while gold moved higher as oil also settled lower.
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