Stocks reverse big early losses

|By:, SA News Editor

Markets have rebounded from sizable early losses with a rumored deal brewing between the Senate's Harry Reid and the House's John Boehner as good of an excuse as any to hit the buy button.

The Dow (DIA +0.4%) is up 60 and the Nasdaq 100 (QQQ -0.2%) has sliced into a loss of more than 1%.

The FOMC minutes suggest members felt the taper was still on the table as of three weeks ago, but plenty has transpired since, among them the government shutdown and the nomination of Janet Yellen as next Fed chief. The betting here says no taper until 2014 at the earliest.

Dow and Nasdaq ETFs: DIA, DDM, UDOW, DXD, SDOW, DOGQQQ, QQEW, TQQQ, QID, SQQQ, PSQ, QLD, QQQE.

Treasury prices (TLT -0.7%) remain a bit lower, the 10-year yield up 2 basis points to 2.66%.

Treasury ETFs: TLH, TLT, IEF, DTYL, DLBL, ILTB, TENZ, ITE, TLO, EDV, VGIT, VGLT, TMF, TYD, LBND, UBT, UST, TMV, TYO, SBND, PST, TBT, DTYS, DLBS, TBF, TTT, TYNS, TYBS, TBX.