Day Traders Diary
04/17/2012U.S. stocks began sharply ahead Tuesday as improved demand at a Spanish bond auction offset concern about Europe's debt trouble. The Dow Jones Industrial Average rose 121 points, or 1%, to 13,043. The S&P 500 climbed 10 points to 1,380. The Nasdaq Composite gained 23 points to 3,012. The earnings are starting to flood. In the financial space Goldman, US Bancorp, Comerica, Northern Trust, and State Street are all trading higher following earnings. M&T Bank, Citigroup, and Wells Fargo are higher on upgrades. In the tech space Apple is bouncing back nicely on an upgrade. Qualcomm, Motorola Solutions, Qualcomm, and SAP are higher on upgrades. Intel, IBM, Yahoo, and Cree are higher ahead of earnings tonight. Seagate is modestly lower ahead of earnings tonight. In the retail space Walmart, Under Armour, and Auto Nation are higher on upgrades. Coke is higher following earnings. Through the first hour the averages look great with the Dow rising over 130 points and the Nasdaq jumping 37 points. A risk on day. Through the morning and into the afternoon the averages keep pushing higher. Amazing. Heading into the last hour the Dow rose 200 points with every component in the green. The Nasdaq is roaring up 61 points or 2% thanks to a 4% rally in Apple. In the last hour the averages held on to their gains ahead of the tech earning reports after the close. The Dow Jones Industrial Average finished up 194 points to 13,043. The S&P 500 ended up 21 points at 1,390. The Nasdaq Composite gained 54 points to 3,012.
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