Day Traders Diary
9/14/09U.S. stocks on Monday started lower, with energy and financial shares down the most, as worries about a trade dispute weighed after news of U.S. tariff actions on Chinese tires. The Dow Jones Industrial Average fell 59 points to 9,546. The S&P 500 Index shed 6 points to 1,036, and the Nasdaq Composite declined 9 points to 2,071. In the commodity space, the fertilizer stocks are lower on downgrades. Teva Pharmaceuticals is lower on a downgrade. Campbell Soup is lower on an upgrade and downgrade. Plenty of upgrades this morning. In the tech sector Microsoft, Motorola, LSI Logic, and Computer Science were all upgraded. Only LSI is lower. Sycamore Networks is lower even though they beat earnings estimates. Other upgrades this morning include E-Trade, UPS, Under Armour, and Dreamworks. Only UPS is lower. In the healthcare space, Tenet Healthcare is higher after raising guidance. The good news seems to be helping. After the first half an hour, and through the morning, the averages slowly recovered. In the afternoon, the remained in the red, but not by much. In the last hour, the resilient averages clawed their way into the green. The Dow Jones Industrial Average finished up 21 points at 9,626. The S&P 500 Index rose 6 points to 1,049 while the Nasdaq Composite climbed 10 points to end at 2,091.
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