Morning data

As I write, the DOW is 51 points in the green, S&P is up 4 @ 1397 and the NAS is up 7, in part thanks to GOOG and AAPL, each up nicely so far on the day. I do like to follow the Dow Jones Transports, and yet another day, they are in the green 24+points. For the Treasurys, the 2 and 10 year Notes are both up respectively (and their yield, which are inversely related to their prices, are down?) Interesting.

Look overseas, Hang Seng, Nikkei and Taiwan all close in the red, with Shanghai the only leader overnight in China. Gold is at $865+ per troy ounce, which results in the Dollar in the green as of late. According to marketwatch, " Crude for June delivery snapped back following a bout of selling Tuesday, adding 52 cents, or 0.5%, to $116.15", while "June natural gas also was on the rise, up 10 cents to $10.95 per million British thermal units."

This morning GDP surprised at 0.6 percent for the first quarter of this year, exports helped (with appreciation of the exchange rate, the dollar is cheaper). ADP also released reports saying that private payrolls were up 10,000 in April.

Hands up to First Solar for getting through the gates with better than expected earnings and an increased guidance towards full year 2008, which is helping prop up the solar energy stock more than 8% this morning.

According to this morning NYTIMES, "Inflation also remained elevated. Prices rose at a 2.6 percent annual rate on a surge in the cost of oil and food. Excluding food and energy costs, inflation rose at a 2.2 percent annual rate."

All eyes will be on the Fed, which at 2:15 p.m. Eastern time is expected to announce a rate cut of a quarter of a percentage point, to 2%.

I must go study for a Capital Markets final, good luck today all.