Monday, February 8, 2010

Bulls Search for Identity Amid Heightened Volatility

Coming off another week in the red as 2010 has not been kind to the bulls, stocks are slightly lower in early action amid sovereign debt concerns in the Eurozone and employment uncertainty following Friday's mixed labor report. This week is shaping up to be relatively lighter than usual with 4Q earnings winding down and the economic calendar set to produce a smattering of data. Treasuries are modestly lower as there are no major reports to be released today. In equity news, CVS Caremark reports better-than-expected earnings but its revenues came in light, while Hasbro announced earnings that easily topped analysts' forecasts. Overseas, Asia finished mixed, and Europe is under modest pressure in afternoon action.

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