The dollar is up modestly, but that isn't hurting commodities yet. Oil has risen back above the $100 level, and gold prices are higher near $1526. Silver prices are also moving up.
In economic news, durable goods orders fell more than expected in April, declining 3.6%. Though some of this decline is simply due to the robust 4.4% increase in the previous month.
In corporate news, Ralph Lauren (RL) is down -8% after missing earnings estimates. The retail sector is also lower on the day so far.
Asian markets were mostly lower overnight, and I continue to read troubling reports about China.
The 10-year yield is flat at 3.12%; and the VIX is down another 3% to 17.25.
Trading comment: I want to express my condolences to the family and colleagues of Mark Haines. Although I never met Mark Haines, CNBC has been on in the background of my office for the last 15 years. So I listened to Mark reporting on the markets every morning, and I can't count the number of interviews I've watched him give. He had a strong presence, was always no-nonsense and straight-forward, and wasn't afraid to challenge his guests. I have seen a lot of CNBC personalities come and go over the years, but he will be missed more than most.
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