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The market is experiencing selling pressure in the opening hour again. But we have seen this patter a few times this week, and after peaking around mid-morning, the market has been able to gain strength into the close. Let's see if this pattern holds up on the last trading day of the week.

Barring a huge move today, the Nasdaq is poised for another solid week of outperformance versus the SPX. This would be the second week in a row that the Nazz has distanced itself in relative performance.

Oil is up again today, nearing $61.50, and this is likely weighing on the overall market again. Although semis are up again today, bucking the weakness for a second day. Nice.

I am not sure what is causing bond yields to drop so much, but the 10-year yield is down 5 basis points to 4.68%, and plunging back below its 50-day. So this should be chalked up in the positive side of the market ledger.

In other news and notes:

• Asian markets mixed overnight
• Private equity groups eye Chrysler - FT
• Nymex plans stock offer - WSJ
• Lowe's beats by $0.03, beats on revs
• NII Holdings downgraded to Hold from Buy at Citigroup
• Caught on video, Rats invade NYC KFC
• Baidu.com initiated with a Sector Perform at RBC
• VRGY reports strong earnings; stock soars
• Red Robin Gourmet tgt upped to $47 at Piper
• Dynamic Materials tgt upped to $42 at Jefferies
• Motorola estimates cut at Nollenberger

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