The major indices got off to a positive start as presaged by the
futures market. The opening gains, however, have been tempered as
buyers haven't shown a great deal of conviction.
A 10-year note yield above 4.00% and a rebound in oil prices (+$1.80 to
$124.10) have been restraining factors, along with remarks from
European Central Bank President Trichet who floated the possibility
that the ECB might hike rates as early as next month to counter
inflation pressures.