(as of 7:00 AM PST)
Expect a day of light trading with many investors taking the day off for the quasi-holiday of Columbus Day. Stock markets are open while the Treasury markets are closed. Don't expect much movement one way or another. International markets were mixed with Asia closing strong and Europe slipping as the day wears on. In a mega merger, Dell computer is purchasing data storage giant EMC, in one of the largest tech acquisitions on record. In unrelated news, pharmaceutical leader Lilly is taking a beating, down over 10%, after abandoning one of their potential blockbuster drugs. Oil and gold are both higher in early going. Earnings season kicks into full gear later this weak and prospects are not encouraging. It will be difficult for markets to continue to rally unless company earnings far exceed current projections.
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