Good morning contrarians!
Stock futures are flat as a board as of 0640. Absolutely nothing doing. Commodities are dropping a bit, with oil and copper down 1% and aluminium down almost 2%. The 10-year yield has retreated a bit, to 1.634%. It was as high as 1.673% yesterday afternoon.
This follows a fifth straight day of gains for the S&P and Nasdaq after some solid earnings reports. Netflix (NFLX) and United Airlines (UAL) joined this trend after the close yesterday, with both beating estimates. In Europe, Nestle (NSRGY) upgraded its full-year sales outlook.
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