Sentiment
Stock market averages battled back from morning weakness and are sporting gains Wednesday. The table was set for cautious trading early after a report on Durable Goods showed a drop of 3.6 percent in April. Economists were looking for a decline of about 2 percent. Meanwhile, a handful of retailers, including Costco (COST), American Eagle (AEO), and Collective Brands (PSS), are trading lower on earnings. Yet, the Dow Jones Industrial Average is up 72 points late in the day with help from Exxon (XOM) and Chevron (CVX) after crude oil gained $1.66 to $101.25 on bullish weekly inventory data. Some of the cyclical names, like Caterpillar (CAT), DuPont (DD), and Boeing (BA), are showing leadership within the Dow as well. Meanwhile, the tech-heavy NASDAQ added 22. The CBOE Volatility Index (.VIX) slipped 1 point to 16.82. Trading in the options market is slow for a second day. 7.4 million
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