Day Traders Diary
9/22/09U.S. stocks on Tuesday began higher, following a one day pullback. The Dow Jones Industrial Average added 40 points to 9,819. The S&P 500 gained 5 points to 1,069 while the technology-laden Nasdaq Composite climbed 9.19 points to 2,147. The U.S. dollar is dropping once again lifting the commodity sector. U.S. Steel is up 3% on an upgrade. Plenty of upgrades once again. In the financial sector Bank of America was upgraded with a $25 price target. The stock is up 2%. Mastercard and Goldman Sachs were also upgraded. A REIT firm Annaly Capital is up 3% after raising their dividend 15%. In the tech sector EMC, Research in Motion, and HP were upgraded. Google crossed $500 a share for the first time in over a year. In the retail space Macys, Wynn Resorts, Las Vegas Sands, Office Max, and Gymboree were all upgraded. Only Office Max is lower. Carnival and CarMax are both up 9% or more after beating earnings estimates. After the first hour the averages remain in the green. So far so good. Through the morning and into the afternoon the Dow remained in the green back above 9800. The Nasdaq remained in the green, but not by much. The techs, commodities, and financials are performing well. Entering the last hour, the Dow averages were near the highs of the day. The Dow Jones Industrial Average finished up 51 points to stand at 9,829. The S&P 500 Index added 7 points to 1,071 while the Nasdaq Composite rose 8 points to 2,146.
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