The market is torn between the ok PPI numbers (core is still moving up bit, but I guess they are not worried about that)and the dismal housing starts. We are getting a big drop in yields, so that is good news. But too much slowdown fears are also keeping things in check. Of course, we have the option expiration shenanigans. watch YM 12793 resistance. CAT and GE are down pre-open, these stocks are sensitive to economic weakness. IBM is one of the few tech stocks, along with GOOG, that is up. Why XOM is up is a mystery with the drop in crude overnight (options pin?).
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on Friday, February 16, 2007 at 2/16/2007 08:39:00 AM.
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