Day Traders Diary
7/27/09U.S. stocks wavered at Monday's start, as investors pondered disappointing earnings results from Aetna and Honeywell ahead of data on new home sales in June. The Dow Jones Industrial Average fell 5 points to 9,088. The S&P 500 Index held near flat line at 978, while the Nasdaq Composite dipped a point to 1,965. More earnings keep flooding in. Aetna is down 4% while Honeywell is only down a percent. Corning, Lorillard, Tellabs, Verizon, and Radio Shack are all trading lower as well even though most have reported better than expected earnings. The financials are quiet this morning. Mastercard is higher due to a positive Barrons article. Capital One is unchanged even though they received an upgrade. At 10 o'clock, better than expected housing numbers sent the averages briefly into the green. In the tech sector, Amazon is lower by 3% on a downgrade following in line numbers last week. After the first hour the Dow was down 50 points. The Nasdaq declined 17 points. The markets are looking a little tired. Through the morning, the averages slowly recovered thanks in part to the financials moving into the green. A resilient market. In the afternoon, the averages remained quiet not far from the unchanged level with the financials still in the green. In the last the averages were able to sneak into the green. The Dow Jones Industrial Average finished up 15 points to end at 8,108, extending to three days its current winning streak. The S&P 500 gained 2 points to 982, with the broad-market index finishing at its highest level since topping the 1,000-mark on Nov. 4th. The Nasdaq Composite rose a point to 1,967.
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