Prior to opening bell this morning, the major market index composites were
trending in the green. Today is Tuesday, January 18th, and is the first day of
open market trading in the United States for this week. Markets were closed
Monday due to the Martin Luther King holiday. Early index values for the Dow
Jones Industrial Average, Nasdaq and S&P 500 were trending in positive territory
prior to open session trading this morning and early morning trending held
positive as the indexes continued to incline. Last week ended in the green as
traders prepared for more positive earnings reports expected out this week.
Recent news today may pull this optimism down however. Citigroup reported a
weaker than expected earnings report and anxieties stemming from Apple CEO Steve
Jobs medical leave of absence, his third in a decade, may extinguish investor
optimism. The Empire State Manufacturing Survey, which is a monthly survey of
manufacturers in New York Sate, reported a reading of 11.9 for the month of
January. The reading fell in line with investors anticipated report of 12.0 and
shows an increase from 9.9 the previous month. The National Association of
Homebuilders Housing Market Index came in unchanged at 16. Economists had
anticipated the builder sentiment index to remain unchanged from December to
January. Approaching mid day the major market indexes are in the green. Dow is
up 60.69 points or 0.51% to 11,848.07. Nasdaq is up 2.26 points or 0.08% to
2,757.55. A&P 500 is up at 0.84% or 0.06% to 1,293.84. The Treasuries 10-year
yield is up 0.06 to 3.39% . Oil is up 0.18 to $91.19 a barrel. The dollar is
down 0.0064 to the Euro at $1.34. Author: Pamela Frost
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