Clawing Back: Strong Earnings, Small Gains In Yields Provide Early Support After Meltdown

Clawing Back: Strong Earnings, Small Gains In Yields Provide Early Support After Meltdown

On the day Amazon (AMZN) founder Jeff Bezos launches himself into space, most investors would probably be happy just to see the major indices pick themselves off the carpet after yesterday's meltdown. Early on, it looks like they might get their wish. Major indices rebounded overnight after the worst day in 10 months, with some of the "reopening" stocks that got pounded yesterday showing signs of a "turnaround Tuesday." The key could end up being what happens after the first 30 minutes of trading. Spillover from the overnight session may carry things higher at first, but then we'll see if there's any continued momentum for the rest of the day. Two of the factors that helped lead things down yesterday popped up just a bit this morning, which may be why stocks turned green in pre-market trading. The 10-year Treasury yield climbed a fraction but remains below 1. 2%, and crude oil also made a tiny move higher but is still trading below $67 a barrel. Weakness in yields and crude yesterday were seen by some as signals of possible slowing economic growth. It also helps to see Big Blue"”IBM (IBM)"”reporting a strong quarter after the close yesterday. The company