MIDDAY LUNCH

Dow 10595.29  +0.53, Nasdaq 2312.57  +9.28, S&P 1125.32  +0.66 

The market seems to be stuck in a tight trading range today with the bulls and bears fighting back in forth having the market trade with slight gains and losses.

The fight is not restricted to stocks today; bonds are also in a tug of war.  The 10 year Treasury yield has bounce from 2.80% to 2.69% and now stands at 2.74%.

In economic news today the CPI came in at 0.3% and the core rate was 0.0% showing that inflation is well under control.

The University of Michigan Consumer Confidence Index fell from 68.9  in August to 66.6 in September.  Economists were looking for a reading of 70.0.  This indicated that consumers are losing faith in the economy and the recovery.  This caused stocks to trade lower after the release.

Oracle (ORCL) 27.46 +2.11, +8.29% shares are higher today after the company posted better than expected earnings and strong future guidance.

The ten major sectors are mixed today with Capital Goods leading the market up +1.09%.  In the sector today’s most active are Caterpillar (CAT) 73.23 +1.23, +1.71%, Boeing (BA) 63.21 +0.63, +1.01% and Deere (DE)72.36 +2.72, +3.91%.