MIDDAY LUNCH

Dow 10830.81  -29.45, Nasdaq 2372.71  -8.51, S&P 1144.42   -4.25

Stocks are trading at session lows with lackluster trading. 

Airline stocks are strong today after the announcement that Southwest Airlines (LUV) 13.68 +1.40, +11.40% will be purchasing AirTran Holdings (AAI)  7.37 +2.82, +61.98% for  $1.4 billion.  The Amex Airline Index is up +2.4%, to its highest level in almost three years. Additionally the transportation sector is up +0.52%.

Telcomm stocks are also higher today up +0.6%.

Microchip Technology (MCHP) 31.08 +0.47, +1.55% shares are also showing nice gains today.

In commodity trading crude oil is currently trading at 76.17 -0.32 while gold is up +0.30 to 1298.40 per ounce.

The 10 yr Treasury is up +23 ticks bringing the yield down to 2.52%.