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Tuesday, October 13, 2009

Morning Market Report

It was a relatively flat day in the market however the Dow ended up 20.86 to 9885 and that's the highest in 2009. Futures remain flat today as well. The Dow futures are currently down 13 points. The big news for the markets to chew on this morning are earnings from Johnson and Johnson. Their earnings beat estimates but their sales missed the mark and the stock is currently down 2%. Intel, Altera, and CSX will all announce earnings after the bell.

Bonds look to make a comeback this week. The bond markets were closed due to Columbus Day yesterday. They're down about 5 basis points and currently trading at 3.32% for the ten year U.S. Treasury bond. It gained about 25 basis points from its low last week. Its current level is still well near the low end of the range for the last six months plus. Meanwhile, the yield spread between the two and ten year bond continues to extend and is currently at 2.40%. Oil is continuing its upward trend. It's current trading at $74.21 a barrel and that's nearly a ten dollar a barrel rise in about two weeks.

Markets in the Far East were generally up while in Europe it was generally the opposite. The Hang Seng in China was up .79%, the NIKKEI in Japan was up .6%, and the Straits Time Index in Singapore was down .45%. In Europe, the FTSE in London is down .24%, the DAX in Germany was down .47%, and the Spanish index was down .83%.

The Dollar is down .38% against the Euro. it's down .11% against the British Pound, but up .10% against the Japanese Yen.

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