It was 5 in a row for the blue chips Tuesday, after a quiet day led to a mixed finish on the street. The Dow rose 20.03, or 0.2 percent, to 10,246.97; a new 2009 high. The broader Standard & Poor’s 500 index saw its first decline after 6 advances, slipping 0.07, or less than 0.1 percent, to 1,093.01. The tech heavy Nasdaq composite index fell 2.98, or 0.1 percent, to 2,151.08. The Russell 2000 index of smaller companies fell 5.38, or 0.9 percent, to 586.93.
Morning Outlook
Seems to be another quiet day on the street so far, as the bond market is closed for the Veteran’s Day holiday. However, the exchange and futures market are open for business! So far in the premarket, Dow futures rose 70, or 0.7 percent, to 10,287. Standard & Poor’s 500 index futures rose 8.50, or 0.8 percent, to 1,100.40, while Nasdaq 100 index futures rose 13.50, or 0.8 percent, to 1,786.00.
Once again, there isn’t any major economic news to report about. But on the corporate front, my personal favorite retailer Macy’s Inc (M) (hey, tell me where else you can get slick dress and casual at those prices) will report quarterly results before the opening bell. Big news for the retail sector and a defacto glimpse into the consumer and what is ahead for the holiday shopping season.
Currencies and Commodities
The dollar rose 0.1228% at 89.92 yen in the currency market. The euro advanced 0.3021% at $1.5038 while the pound dipped 0.5614% to $1.6650 . The falling dollar Wednesday morning is pushing precious metal prices higher, gold advanced to a hew high of $1116.900 an ounce after gaining $14.40. Silver soared 2.63% at $17.675. Light, sweet crude for December edged up 48 cents to $79.53 per barrel on the NYMEX; a 0.61% advance.







