Market Commentary

With no fresh economic news slated for today for guidance, bonds are currently hovering around unchanged levels. The stock indices began their session with gains but they have since fallen back and are now narrowly mixed.

The impetus for the early gain in stocks was more merger and acquisition news. Of note was word that DaimlerChrysler is selling its Chrysler division to a private equity firm for $7.4 billion. An analyst upgrade of General Motors also lent support. But stocks have been climbing for over a year with the Dow setting records almost daily for the past month. Some traders are concerned that the market may be overbought and are exercising caution. read the entire article

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