Stocks have gone green.
Near 1:00 pm ET, the S&P 500 and Dow had turned green, with the S&P up about 3 points and the Dow up about a point.
The Nasdaq was flat.
After St. Louis Fed president James Bullard said on Bloomberg TV earlier this morning that the Fed should consider pausing its tapering of QE at its next meeting, markets rallied with the S&P 500 briefly turning positive.
It’s still been a rocky day for stocks, as the market opened lower with the Dow down 190 points, the S&P 500 down 25 points, and the Nasdaq down 32 points at their lows.
US stocks initially took their lead from stocks in Europe, which were selling off again.
Greek stocks, which got totally destroyed Wednesday, were down another 2% Thursday. Meanwhile, Italian stocks were down over 3%, on top of a 4% decline Wednesday, and German stocks were down 1.4%, stocks in London were off 1.5%, and stocks in France were down 1.9%.
European stocks closed off their worst levels, with Germany’s DAX closing up 0.1% and all of the other major European indexes paring their losses into the close.
There was also a bit of a freak-out on the bond side of things, with Greek 10-year interest rates surging as high as 9%.
On the flip side, the German 10-year yield has hit a record low of 0.718%. US 10-year yields were still trading at about 2% after spiking to as low as 1.86% on Wednesday morning.
Oil is weak again, hanging just above $US80 a barrel.
After weaker-than-expected economic data from the US on Wednesday, Thursday morning saw the weekly report on initial jobless claims come in at a 14-year low, as claims fell to 264,000.
Industrial production data came in better than expected, with production jumping 1% month-over-month in September, better than the 0.4% increase expected by economists.
In stocks news, shares of Netflix were getting crushed, falling more than 20% at the market open after the company reported Wednesday night that third-quarter subscriber growth had missed expectations and gave a fourth-quarter earnings outlook that disappointed.
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