For the second straight session, the inability to rally early has triggering selling.  Today is more frustrating as every bit of news from data on housing and crude oil to strong earnings across haven’t been able to spark a breakout.  Crude inventories are down two weeks in a row and 10 times in the past 11 weeks.

Crude oil initially rallied on the news, but it has since resumed lower along with major equity indices.  WTI broke below $43 and is now trading at $42.42, down 2.5% for the day.

Although the Dow Jones Industrial Average is lower, the other indices seem poised to rally into the close and that should lift Blue Chips as well. 

Whether you are a George Clooney fan or not, and whether you like tequila or not, the deal of the day is Diageo (DEO), which owns Don Julio, DeLeon, and Peligroso brands, is buying Casamigos Tequila in a deal worth $1 billion. Not bad considering George, along with partners Rande Gerber and Mike Meldman just started the tequila business four years ago.