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Bond market closed in observance of Veteran's Day

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The bond markets here in the U.S. will be closed today in observance of Veteran's Day so many traders will be "flying blind" so to speak. The bond market will resume trading tomorrow, but now you know why bond YIELDS aren't moving today.

Stock futures mixed

Stock futures are mixed this morning with S&P futures up 2.2 points at 1,125, NASDAQ futures are higher by 12 points at 1,530 and Dow futures are down 16 points at 9,600.

Fair value for the S&P 500 today is $1.15. HL Camp & Company has their computers set for program buying at $2.20 and set for program selling at $0.72. Fair value for the NASDAQ-100 today is $3.25.

Dynegy to buy Enron

Energy dealer Enron (NYSE:ENE) has agreed to being bought by smaller rival Dynegy (NYSE:DYN) for $7.8 billion in stock. This values Enron's shares, base on Friday's close, at $10.45. In Frankfurt trading, shares of Enron (ENE) rose 87 cents in euro trading to $9.50, while shared of Dynegy (DYN) have fallen 65 cents to $38.11. Shares of Enron (ENE) have yet to trade here in the U.S. on Instinet after a trading halt was placed on the shares late Friday ahead of the announcement of its acquisition agreement. Based on Friday's close, the deal has shares of Enron.

Jeff Bailey
Senior Market Technician
Option Investor

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