US Mid-Morning Recap by TradeTheNews Staff - US bond yields were moving higher early in the session following a headline Q4 GDP reading that was well ahead of estimates. Early equity weakness accompanied lower bond prices. The Treasuries quarterly refunding announcement of $38B was a little below expectations and touched of some buying. Yields continued to push lower helped by the subsequent release of a soft Chicago PMI number and a December construction spending reading below expectations. The 30-year is up 9/32 at 4.957% after the yield had topped 5% early in the session. 10-year +4/32 at 4.851% - The major Indices made their way into positive territory following the reversal in the bond market. The Dow has been getting help from Boeing, which has added $4 to its stock price post earnings. MMM is down another 1.5% as negative momentum continues from yesterdayâs disappointing earnings announcement. MO is up 0.5% after confirming its KFT â1% spin-off and reporting. Technology has been lagging throughout the session led by semiconductors. SNDK is off more than 7% after reporting Q4 and guiding below consensus. The SOX Index is down more than 1%. JNPR â7% is too weighing on the NASDAQ after reporting. - Crude has rallied above $57 following weekly inventory data that showed relatively strong demand for distillates. The OIH is more than $2 off of earlier lows now trading up more than 1%. April Gold futures are now the front month contract and they have rallied more than $10 from their worst levels of the session. April gold is trading just below a level seen as solid resistance at $658. A solid push above the $660 mark would put gold at levels not seen since September. Gold moved higher in tandem with weakness in the US Dollar. The EUR/USD is back at 1.30 while the USD/JPY is below 121.