Wednesday, May 26, 2010

Early momentum fizzles a bit


The durable goods report was released about 20 minutes ago without much affect on stocks, at first anyway. Steve Lischman of CNBC called it a neutral report despite a 2.9% increase in durable goods orders, above the expected 2.2%.

Then, in the past few minutes, AAPL traded down from 250-plus to the low 249s in premarket and is now back to 249.73. That's still up more than $5 since yesterday's close, but that quick drop was interesting.

Futures are still strong: DJ +96, Nasdaq +20.25, S&P +12.20.

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