After a three day 800 point rally, the U.S. stocks are lower this morning with financials leading the retreat. The Dow Jones Industrial Average fell 36 points to 12,009. The S&P 500 declined 3 points to 1,243. The Nasdaq Composite shed 5 points to 2,614. The financials are all lower, no surprise there. Massachusetts Attorney General is adding to the pressure by suing the big banks once again. The retailers are in the spotlight with the release of same store sales data this morning. Lululemon is down 11% following disappointing earnings. Barnes & Noble is down 19% after missing estimates. Talbots is down 7% on earnings, while La-Z-boy, Guess, and Aeropostale are higher following earnings. Movado Group is up 15% on earnings. The rest of the market is quite. In the tech space Google is higher once again. In the last three weeks the stock dropped 60 points only to rebound 50 points. A little volatility there. Broadcom, Seagate, and HP are quiet on upgrades. Intel and Microsoft are lower. Yahoo is up 3% on more rumors of a buy out. Through the morning the Dow drifted lower falling 50 points. The Nasdaq hugged the unchanged level.
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