Reply #11: 9:55 EST numbers and blather

[UpInArms]

Dow 13,643.55 8.13 (0.06%)
Nasdaq 2,626.00 0.76 (0.03%)
S&P 500 1,533.55 0.15 (0.01%)
10-Yr Bond 5.113% 0.027

NYSE Volume 317,897,000
Nasdaq Volume 182,028,000

09:45 am : The cash market followed the form set by the futures market and opened higher with the major indices logging modest gains.

The early standout, as has been widely reported, is Dow component Home Depot (HD 40.66, +2.39) which wowed investors with news of the sale of its supply business for $10.3 billion and a recapitalization plan that includes a $22.5 billion increase to its stock repurchase plan.

Morgan Stanley (MS 90.02, +2.22) also struck a bullish note with a fiscal second quarter earnings report that surpassed analysts' EPS and net revenue expectations by a wide margin.

Both of these companies have been featured on Briefing.com's Bargain Hunting page and are up 19% and 56%, respectively, since our initial profile.DJ30 +31.46 NASDAQ +5.57 SP500 +2.75

09:24 am : S&P futures vs fair value: +3.2. Nasdaq futures vs fair value: +4.0.

08:55 am : S&P futures vs fair value: +4.5. Nasdaq futures vs fair value: +6.0. There hasn't been any change in the morning bias as stocks remain on track for a positive start.

08:28 am : S&P futures vs fair value: +4.7. Nasdaq futures vs fair value: +6.5. The futures market is strengthening as a potive tone has taken root. The $22.5 billion increase in Home Depot's share buyback plan has played a big role this morning, but long-term rates trending back toward 5.00% and a dip in oil prices have provided added support.