Day Traders Diary


U.S. stocks open modestly higher after a big run up yesterday. The Dow Jones Industrial Average gained 18 points to 8,350. The S&P 500 index rose 2 points to 903, while the Nasdaq Composite fell a points to 1,791. Goldman Sachs is leading the earnings parade today with blow out earnings. As Goldman would say, what recession? The stock is pulling back a little as most of Wallstreet anticipated the good news. Most of the financials are pulling back a little. Prudential is modestly higher on an upgrade. In the tech sector, Intel is modestly higher ahead of earnings tonight. A number of analysts are providing mixed reviews of Google ahead of their earnings on Thursday. Dell is down by 6% after lowering guidance last night. Sun Micro is unchanged after lowering guidance. The company will be acquired by Oracle later this year. After the first half an hour, the Dow dipped into the red. Dow Jones component, J&J is higher after beating estimates. Caterpillar is lower after having their numbers cut by an analyst. The Nasdaq declined by 6 points. Through the morning the averages didn't deviate much from the unchanged level. Railroad company, CSX is higher by 5% after beating estimates by 10 cents. In the afternoon, more of the same. The techs are holding up. Intel is inching higher ahead of earnings. In the last hour, all the major averages moved into the green, but without much fanfare. The Dow Jones Industrial Average finished up 27 points at 8,359. The S&P 500 index rose 4 points to end at 905, while the Nasdaq Composite gained 6 points to close at 1,799. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.