Patti Domm is CNBC executive news editor, responsible for news coverage of the markets and economy. Prior to joining CNBC in 1999 as senior news editor, Domm was the equities editor for the Americas at Reuters. She was also Wall Street editor at Reuters, reporting on mergers, acquisitions and the Street. She also edited three CNBC books on personal investing. Domm serves on the board of the Financial Womens Association of New York.
Microsoft stock is heading south with the market, but it's also under pressure because the street clearly expects it to up the ante in its bidding for Yahoo! Yahoo! today didn't slam the door on a Microsoft deal when it issued a terse release on the offer
Stock prices are a bit squishy this morning. There is little on the data front, with wholesale trade at 10 a.m. the only number to watch today. Congressional votes late yesterday approving an economic stimulus plan should be a psychological boost.
Cowen analyst Robert Stone thinks there are growing trends that make the alternative energy stocks he follows more attractive. One of those factors is the concern that utilities will not be able to keep up with power demand and could have a real shortfall in the next decade.
There's a calm in the market after yesterday's searing downdraft but traders expect sellers to keep trying to turn up the pressure. But so far though, the market is gaining ground. One trader said that financial stocks were turning negative early, but they've been lifted in part by shorts covering positions this morning.
There's a lot of debate about whether stocks have hit bottom or whether those up days were all just a head fake rally. Today's action makes you wonder. The financials, acting better on up days, are the worst performers today, and those safe haven utilities are the best performers.
Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.
A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.
CNBC Senior Commodities Correspondent and Personal Finance Correspondent
JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC
Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.
Senior Producer at CNBC's Breaking News Desk.