MIDDAY LUNCH

Dow 10547.08  -20.24, Nasdaq 2351.68  -7.27, S&P 1142.14  -3.47 

News that China’s inflation came in +2.7% higher which was higher than expected and resistance has kept stocks from posting gains today.  Stocks are also trading in a narrow range today.

Retailers are having a decent day. The group is up +0.3%, collectively. Guess? (GES) 45.02 +0.27, +0.60%, Best Buy (BBY) 39.44 +0.48, +1.23%, American Eagle (AEO) 18.45 +0.25, +1.37%, Nike 18.45 +0.25, +1.37% are all trading to the plus side.

Financial looked like they would lead the market and provide support but they have not and are currently trading only fractionally higher.

Treasuries are under moderate pressure today. This has caused the yield on the benchmark 10-year Note to climb to 3.75%, which is a three-week high. The action comes ahead of this afternoon's 30-year Bond auction results.