Time to Buy Defense Stocks?

What’s in Today’s Report:

• Was that the Bottom in Boeing? (Time to Buy Defense Stocks?)
• Durable Goods Takeaways (Not as Bad as It Appeared)

U.S. stock futures are marginally higher this morning while international markets were little changed overnight as news wires were very quiet and attendance is notably thin ahead of the Christmas holiday.

There were no economic reports overnight and no market-moving headlines have crossed since yesterday’s close.

Looking into today’s holiday-shortened session (the NYSE will close at 1:00 p.m. ET), there are no notable economic releases and no Fed officials are scheduled to speak.

The only potential market catalyst on the calendar is a 5-Yr Note Auction by the Treasury at 10:00 a.m. ET. Any significant moves in the belly of the yield curve could affect stocks today as computer trading will dominate the price action due to the low attendance ahead of Christmas.