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Thursday, July 21, 2011


This morning the market is reacting on breaking news that the ECB will backstop Greece and who knows what else. That news has futures moving higher this morning. Of course our debt ceiling charade continues this morning as the the clock ticks and the prospect that the "gang of 6" proposal is slowly withering away. Full coverage and opinion on Memeorandum.

The overall tape is reacting to news events on the political side and the earnings that have been coming out which have been very good for the most part. Kinder Morgan boosts to $1.15 as it has another good quarter. Transcript of the conference call indicates the company seems to firing on all engines. Suburban Propane (SPH) is giving you the 85 1/4 cent payout. Its that 1/4 cent that can really add up over time! More payout and earnings news will be hitting the tape over the next few days.

No upgrades or downgrades on the tape this morning so far. Stocks and interest rates are higher as the 10 year inches back toward 3%. Nat gas is up this morning ahead of inventory numbers while crude is flat at 98 bucks and change. Heatwave spreads east this week as we're looking at mid 90s to near 100 here for the next few days. Heading to the pool to cool off and swim laps.

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