NEWS / Foreign Exchange

Equity indices see little overall reaction to Friday??™s jobs data

- Indices are hanging close to the unchanged level in light volume, but several individual stocks and sectors are seeing some movement driven by headlines from the long weekend.  Railroad stocks are helping drive gains in the Dow Jones Transportation Average +2.25% after Berkshire Hathaway disclosed at 10.9% stake in Burlington Northern.  BNI +7% UNP +6% CSX +4% NSC +4%  Shares of Dow Chemical are higher by nearly $2 after another overseas LBO article, and despite no indications the Co. has any intent on going private.  Mirant is adding 6% after its Board announced it will be exploring strategic alternatives.  INTC is up 3% after AMD +5.6% guided Q1 revenues blow consensus and indicated a plan to reduce discretionary spending and limit hiring.  Treasury markets have been unable to bounce from Friday??™s post jobs number sell-off.  The yield on the 10-year holds close to 4.75% while fed fund futures continue to have all but priced out the possibility of a rate cut this spring.  The Dollar is looking to consolidate gains made after the stronger than expected labor report as well.  EUR/USD 1.3367, GBP/USD 1.9620, USD/JPY 119.27  June Gold is holding near session highs up $3 at $682.50.  Crude has spent the morning in negative territory despite renewed reports out of Iran indicating they continue to enrich uranium at industrial levels.  May crude is down $0.50 at $63.75.