Traders came to their desks this morning expecting the market to shrug off the latest piece of Greenspeak.
January durable goods orders
came in at 3.6%, sharply higher than the 1% that economists had expected. Not exactly a helpful number for traders trying to get over their Greenspan-induced jitters. Early indicators, however, were that stocks still might trade higher in the morning.
The 30-year Treasury bond is down 3/32 at 97 31/32, driving the yield to 6.78%. The
futures are up 2.10.
In the wake of yesterday's merger announcement
is set to open higher. Its stock is trading on
at 68 1/4, up 7 1/4.
is trading at 39 3/4, up 3/4.
WCOM) reported fourth-quarter earnings of 29 cents per share, excluding charges. That's two cents higher than
posted fourth-quarter earnings of 13 cents per share, a penny shy of First Call estimates. The company said that European profits were hurt by the strong dollar.
In light trading, the
edged back over 19,000 to close up 30.64 at 19,021.56. No fear of Greenspan in Tokyo -- some analysts believe that a Fed tightening would be
for Japan, as big investors would move their money abroad. The
also moved slightly higher to close up 4.77 at 13,546.60.
It's not just the Asian markets that are ignoring Greenspan. Stocks are higher in Europe as well. London is in the midst of earnings season, so it isn't surprising that traders are concentrating more on what's going on at home. The
is at 4337.49, up 8.10. In Frankfurt, the strong dollar is helping maintain the positive sentiment. The
climbed 38.85 to 3276.72, a new record.
By Justin Lahart