Reply #12: 10:24 Update and blather [View All]

[UpInArms]

Dow 10,078.65 -15.41 (-0.15%)
Nasdaq 1,888.13 +4.30 (+0.23%)
S&P 500 1,099.65 -1.25 (-0.11%)
10-Yr Bond 4.392% +0.031

10:00AM: Indices hold steady in light trade...volatility in recent sessions has been low compared to historical standards, and that may continue today ahead of Greenspan's testimony...crude oil prices are marginally lower in early trade...retail sectors start off strong, helped by Target's (TGT 43.36 +0.62) comments that July same store sales are above plan...

9:45AM: Indices open with modest bias to the upside, a little better than flat pre-open futures trading...market will be waiting for Fed Chairman Greenspan's testimony to begin at 2:30 ET today...bonds are lower today, but the 10-year yield is still just 4.39%...key earnings this morning include Ford (F 14.80 -0.18) which beat estimates but gave uninspiring guidance, and Altria (MO 48.81 -0.02) which missed by a penny...housing starts decline had little impact...