International markets surged overnight. Both Asia and Europe seem to be optimistic about continuing financial stimulus programs. The US markets started out very quietly with US investors exercising more caution after yesterday's surge. Profit reports are coming in mostly positive but the pattern we are seeing is that revenue growth is lagging. Indexes are mixed at this point with the Dow down slightly, the Nasdaq up a small amount and the S&P close to flatline. Oil and precious metals are also close to even. Merger activity is providing some excitement but it is shaping up as a very quiet day for US markets.
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