The major stock market averages opened mixed but quickly turned positive. The Dow is currently up 46 pts and the SPX is up .3%. The telecom sector is up nearly 1% in early trading, recovering some of its recent correction. The market is expecting a federal judge to approve AT&T’s proposed acquisition of Time Warner tomorrow. Healthcare, transports and retailers are also in the green. The VIX Index jumped 2% to 12.4 but VIX July futures are down around 14 after having spiked to 16 a couple of weeks ago. So despite all the negative geopolitical headlines investors really aren’t spooked. Commodities are mixed today. Gold is up today but is flat year-to-date. Copper is giving back some of its recent gains. WTI crude oil is up modestly to trade around $66/share. Bonds are down modestly in early trading. The 5-year and 10-year Treasury yields are up around 2.79% and 2.95%, respectively.
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