NEWS / Foreign Exchange

Indices push higher on continued upside momentum

All eyes have been on the Dow this morning after it traded above 13K for the first time.  Alcoa is leading the way up 6% after announcing it was looking at selling its packaging division.  Boeing ??“0.5% is losing a little ground after reporting results.  AMZN is surging more than 20% after reporting strong Q1 results.  The energy complex is helping the S&P led by BHI +5% and WFT +4%.  Refiners moved higher after weekly inventory data showed another larger than expected draw down in gasoline inventories.  VLO +1.8% SUN +2.6% TSO +4% XOM +1% CVX +1.5%  Shares of sports equipment maker K2 are higher by 20% after Jarden Corp agreed to pay roughly $1.2B for the Co.  CHAP is up more than $10 or 16% after saying it hired Goldman to explore strategic alternatives.

U.S. Treasury futures made session lows right after the open of floor trading when March durable goods data narrowly exceeded expectations.  Yields backed off after March new home sales were reported below estimates and February were revised lower.  Yields have settled to trade fractionally higher with the 10-year at 4.626%.  The EUR/USD has made couple of runs at its all time high, and currently sits some 15 pips below that level of 1.3667.  June crude is holding above $65, up $0.50 following the weekly inventory data while reformulated gasoline trades up more than 1%.