The bulls had a number of headwinds facing them ahead of the open this morning but have brushed aside geopolitical tensions and some terrible economic news to push the market higher as we head into the second half of trading.
Durable Goods were released an hour before the open and shocked Wall Street after falling 7.3% in July, well short of an expected 4% drop. This follows a 3.9% increase in June (revised lower from 4.2%).
In case you haven’t heard, the United States is preparing for a strike on Syria as 4 warships have been staged in the Mediterranean Sea in response to the chemical attack that killed over 1,300 people.
President Obama called in his top zombies over the weekend to discuss the situation and most experts are predicting a cruise missile attack is nearly certain. Russia has warned the U.S. stay out of the affair and there is no love lost between Obama and Putin. Stay tuned.
We mentioned the importance of the bulls finishing in the green today but the gains have been limited so watch the final hour of trading.
The Dow is up 27 points to 15,038 while the S&P 500 is higher by 4 points to 1,667. The Nasdaq is advancing 24 points to 3,682 and the Russell 2000 has cleared 1,040 as the small-caps are up 5 points to 1,043.
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