Stock index futures were moving in lower territory this morning prior to
opening bell for the first day of trading this week. Stocks ended last week
mixed and futures were pointing to a similar opening for today. Investors
awaited a fresh round of earnings reports this date and the hope was that
reports would be strong. As the morning progressed stocks rose with all the
major indexes making modest gains. The most recent corporate earnings results
and reports of mergers and acquisitions helped lift the market. With no major
releases scheduled on the economic calendar today, corporate reports and deals
will remain in the spotlight. At mid day the major indexes are all in the green.
Dow is up 93.92 points or 0.79% to 11965.76. Nasdaq is up 26.14 points or 0.97%
to 2715.48. S&P 500 rose 6.90 points or 0.54% to 1290.25. The Treasuries 10-year
yield is down 0.02 to 3.40%. Oil is down 1.94 to $87.65 a barrel. The U.S.
dollar is down 0.0015 to the Euro at $1.37. Gold is up 1.90 to $1342.90 an
ounce. Strong sectors include: construction and engineering; construction
materials; steel; aluminum; diversified metals and miners; paper products; coal
and consumable fuel; consumer elcectronics; semiconductors and related
equipment. Weak sectors include: specialy consumer services; computers and
electronics; real estate services. Author: Pamela Frost
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