Stocks are rallying in the opening 30 minutes even though more negative news hit the wires in the last 12 hours.
The weekly jobless claims number rose by the largest amount in almost a year with the number coming in at 380,000, well above the 359,000 estimate. The number is starting to move in the wrong direction with the average of new claims over the last 4 months increasing by 4250 to 368,500 - the highest reading in a month.
In Italy a bond auction pushed yields to a 3-month high. Earlier in the week it was Spain and Portugal and now Italy. The fears of another European 2011 is increasing and we all need to keep an eye on the bond yields.
Market expert and TV personality Matt McCall blogs about what is really moving the markets. He will emphasize Exchange-Traded Funds (ETFs) and individual stocks throughout the trading day.
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