September 3, 2010

U.S. stocks opened with robust gains on Friday after the August employment report continued a recent trend of economic data coming in better than feared. The Dow Jones Industrial Average rose 108 points to 10,427. The S&P 500 climbed 12 points to 1,103. The Nasdaq Composite gained 29 points to 2,229. The economic data is not great, but it is improving once again. Everything is performing well once again. On the earnings front, Take-Two Interactive is jumping 11% following better than expected earnings. Chip company, Finisar is jumping 13% after easily beating estimates. Krispy Kreme and HR Block are also higher following earnings. Campbell Soup is down 3% following in line earnings. The techs and financials look good once again. Commodities continue to push higher. In the retail space, Talbots is up 2% on an upgrade. Walgreen is modestly higher on better than expected August sales. At 10 o'clock weaker than expected manufacturing numbers caused some profit-taking. After the first hour the Dow was only up 50 points. The Nasdaq up 14 points.