Reply #51: recovery, as in addiction? [View All]

[ozymandius]

10:54
Dow 10,392.36 -20.46 (-0.20%)
Nasdaq 2,129.13 -0.63 (-0.03%)
S&P 500 1,208.45 +0.04 (+0.00%)
10-Yr Bond 40.28 -0.62 (-1.52%)
NYSE Volume 546,682,000
Nasdaq Volume 453,728,000

0:30AM: Indices take a hit following the disappointing Chicago Purchasing Manager's Index, which contributed to slowdown concerns with the monthly reading checking in at 49.2 versus 63.5 in the prior month and the consensus estimate of 61.0... Furthermore, the employment, production, and orders components of that report were all down from the prior month while the prices paid index was up slightly... The 10-yr has rallied on the data and is now up 17 ticks with its yield at 4.03%...

For the most part, though, equity losses remain modest in scope as traders have been careful not to assign too much weight to this single, regional report ahead of the national ISM Index, which will be released tomorrow... From a sector standpoint, it is deja vu all over again as energy (+1.26%) is the only sector in the early-going sporting a gain... On a related note, the Dept. of Energy will be releasing weekly inventory data momentarily... NYSE Adv/Dec 1364/1446, Nasdaq Adv/Dec 1009/1534