Reply #63: 10:26 EST rah rah number, blather and today's tune [View All]

[UpInArms]

Dow 11,506.67 +67.81 (+0.59%)
Nasdaq 2,335.94 +12.04 (+0.52%)
S&P 500 1,319.26 +7.01 (+0.53%)
10-Yr Bond 5.096 -0.54 (-1.05%)

NYSE Volume 494,639,000
Nasdaq Volume 463,627,000

10:00 am : Stocks are off their opening highs but nine out of ten economic sectors continue to post respectable gains. Energy is pacing the way higher amid a rebound in oil prices as well as strong earnings reports. EOG Resources (EOG 75.47 +4.02) is up 5.6% after more than doubling its Q1 net income while El Paso (EP 14.71 +1.22) is soaring 9% to a new 52-week high after more than tripling Q1 profits. Technology is strong across the board, led by a 0.9% gain in the hardware space, while Financial is benefiting nicely from a decline in borrowing costs and a 2.0% surge in brokerage. Aside from falling bond yields also making dividend-paying utilities stocks more attractive, the sector has garnered additional attention this morning amid speculation that Berkshire Hathaway, which is targeting utilities as potential acquisitions, will announce a major deal at its annual meeting this weekend. DJ30 +62.75 DJUA +1.3% NASDAQ +15.91 SOX +0.5% SP500 +8.05 XOI +0.9% NASDAQ Dec/Adv/Vol 699/1815/266 mln NYSE Dec/Adv/Vol 539/1989/200 mln

09:40 am : Market opens sharply higher as weaker than expected payrolls data assuage worries that the economy is not growing so fast that the Fed will have to keep aggressively raising rates. Most notably, non-farm payrolls rose a less than expected 138,000, reflecting the slowest pace of job growth in six months and implying that the robust jobs growth in Q1 thus far is not carrying over into Q2. The unemployment rate holding steady at 4.7%, meeting economists' forecasts, has also offered some relief about Fed policy. To wit, the yield on the 10-yr note (+12/32) now stands at 5.09%, off 7 basis points from early highs. Nevertheless, while the lower headline figure is likely to ease fears about economic growth being too strong, the larger than expected 0.5% rise in hourly earnings -- the fastest annual gain since August 2001 -- has pushed the year-over-year gain to 3.8% from 3.5% in March and may put some pressures on businesses to raise prices.DJ30 +74.44 NASDAQ +18.18 SP500 +9.43 NASDAQ Vol 126 mln NYSE Vol 74 mln

and the tune (leaping and hopping) for the morning!

I'm being followed by a moon shadow
moon shadow-moon shadow
leaping and hopping on a moon shadow
moon shadow-moon shadow
and if I ever lose my hands
lose my plough, lose my land
oh, if I ever lose my hands
oh, if...
I won’t have to work no more
and if I ever lose my eyes
If my colours all run dry
yes, if I ever lose my eyes
oh if …
I won't have to cry no more.
yes, I'm being followed by a moon shadow
moon shadow - moon shadow
leaping and hopping on a moon shadow
moon shadow - moon shadow
and if I ever lose my legs
I won't moan and I won't beg
of (oh)* if I ever lose my legs
oh if...
I won't have to walk no more
And if I ever lose my mouth
all my teeth, north and south
yes, if I ever lose my mouth
oh if...
I won't have to talk...
Did it take long to find me
I ask the faithful light
Did it take long to find me
And are you going to stay the night
I'm being followed by a moon shadow
moon shadow - moon shadow
leaping and hopping on a moon shadow
moon shadow - moon shadow
moon shadow - moon shadow
moon shadow - moon shadow

Cat Stevens