(As of 7:24 am PST)
A robust durable goods report,
coupled with a nice profit report from Caterpillar propelled the market to
early gains. Gains were short lived,
however, as a middling housing sales report sapped momentum. Most markets are slightly to the
downside. Oil is up, but losing
energy. Gold is down slightly. It seems that a weary market will have
trouble making much progress today.
There are a raft of profit reports due out this week and it seems that
some positive surprises will be necessary to take the market higher from
here. Ten year yields on US bonds
continue to drift higher and topped 2% in early trade.
