Yahoo for Yahoo!

Yahoo and Sun Microsystems both advanced in the after hours market yesterday and helped push up Nasdaq futures this morning. Looks like we’re in for a positive open on Nasdaq. Yahoo posted numbers that beat Wall Street’s expectations. The stock initially dropped but in their conference call Yahoo reassured Wall Street that their new search tool will boost revenue at the end of the year. Perhaps this is the year where Yahoo steps out from under Google’s shadow.

During Bush’s state of the union address yesterday he called on Americans to reduce their gas consumption by 20% over the next ten years. Could this be the reason that oil is lower this morning by 56 cents? I think not. But it will be interesting to watch the inventory report due out at 10:30 am Eastern time this morning.

Overall it looks to be a positive day today and I hope to see a continuation of the modest gains in the stocks I’m holding today (CLRK and WIRE).