Monday, May 10, 2010

MIDDAY LUNCH

Dow 10777.43  +397.00, Nasdaq 2365.74  +100.10,S&P 1157.28  +46.40

Stocks are on fire today after the EU revealed a huge €750B ($966 B) plan to save the Eurozone from a debt contagion crisis. 98% of the S&P 500 companies are trading higher.

Commodities are trading with strong gains even with the weaker dollar which is down -1.8% against competing currencies. The CRB Commodity Index is up +1.0% and oil has gained +1.9% to $76.50 per barrel.

Treasuries are under pressure today the 10-year Note is down more than one full point and the 30-year Bond is down more than two points. Yields on the Note and Bond are up to 3.55% and 4.42%, respectively.

European markets closed higher today. Stoxx Europe 50 +7.34%, Belgium Bel-20 +9.37%, France CAC 40 +9.66%, Germany DAX +5.30%, Italy FTSE MIB +11.28%, Sweden OMX +6.30%, UK FTSE 100 +5.16%

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