Reply #30: 2:08 and I gotta run - Check back tonight [View All]

[54anickel]

Dow 10,362.05 -19.23 (-0.19%)
Nasdaq 2,025.37 -4.71 (-0.23%)
S&P 500 1,127.02 -2.42 (-0.21%)
30-yr Bond 5.197% +0.049

NYSE Volume 974,392,000
Nasdaq Volume 1,226,616,000

2:00PM: Within a short reach of the unchanged line, the major averages are little changed since the last update... The small- and mid-cap averages are underperforming their large-cap counterparts on a relative basis in today's session, but are little changed overall... Specifically, the mid-cap S&P 400 is down 0.13%, while the small-cap Russell 2000 is down 0.09%...
On a year-to-date basis, the small- and mid-cap averages are outperforming their large-cap counterparts with gains of 4.4% for the S&P 400 and 5.1% for the Russell 2000 versus gains of 1.2% for the Nasdaq and 1.4% for the S&P 500 and losses of 0.8% for the Dow...NYSE Adv/Dec 923/2370, Nasdaq Adv/Dec 1417/1706

1:30PM: The major averages are slipping out of their earlier trading ranges and are trading in negative territory, although with only fractional losses... The rise in interest rates, which followed this morning's higher than expected CPI report pressured the stock market in the early going... Nevertheless, the bond market has been recovering through the session... Accordingly, after being down by as much as 24/32, with its yield as high as 4.45%, the 10-year note is currently down only 6/32, with its yield at 4.38%...

Judging by the Fed funds futures, on the heels of the CPI report, the likelihood of a 25 basis point increase in the Fed Fund rate by the end of July jumped to 44% from 32% as of yesterday...NYSE Adv/Dec 1015/2272, Nasdaq Adv/Dec 1467/1650