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Dow 10,688.95 -16.69 (-0.16%)
Nasdaq 2,147.92 +1.77 (+0.08%)
S&P 500 1,198.16 -5.05 (-0.42%)
10-Yr Bond 42.15 +0.31 (+0.74%)
NYSE Volume 561,563,000
Nasdaq Volume 518,017,000
10:00AM: Equities continue to trade with a tinge of caution, as investors await Pfizer shares to officially open after it warned about the safety of Celebrex... Dow component Pfizer (PFE), which had been conducting two long-term cancer prevention trials concerning its painkiller Celebrex, has announced that it found an increased cardiovascular risk in one of the two trials... The Dow has hovered in positive territory, but it is widely anticipated that the index will fall when Pfizer, and competitor Merck (MRK), open for trading... NYSE Adv/Dec 1028/1348, Nasdaq Adv/Dec 1215/1222
9:40AM: Market opens a bit lower despite comforting inflation data, but remains mixed in the early going... The Dept. of Labor released November CPI and core CPI readings of +0.2%, in line with economists' forecasts... The core CPI, which excludes volatile food and energy prices, has held a rather steady trend of +0.2% over the last few months, which equates to a roughly 2.4% annual rate of increase in the core CPI... That rate, roughly equal to the current year-over-year rate of 2.2%, suggests that inflation remains tame but also justifies the Fed's most recent 1/4% rate hike...
9:00AM: S&P futures vs fair value: -1.3. Nasdaq futures vs fair value: +0.5. Futures indications pull back a bit but still suggest a relatively flat open for the indices... Family Dollar (FDO) just reported earnings of $0.33 per share, in line with analysts' forecasts
8:34AM: S&P futures vs fair value: +0.9. Nasdaq futures vs fair value: +4.0. Futures trade improves somewhat indicating a flat to slightly higher open for the cash market as November CPI and core CPI come in at +0.2%, respectively, in line with economists' forecasts...
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