Day Traders Diary
11/2/09U.S. stocks started higher on Monday, with a surprise profit from Ford Motor bolstering market sentiment. The Dow Jones Industrial Average rose 42 points to 9,754. The S&P 500 Index rose 6 points to 1,042. The Nasdaq Composite gained a point to 2,046. Ford is the diamond of the day jumping 9% following earnings. Other companies trading higher following earnings include Cooper Tires, Clorox, Loews, and CNA Financial. The financials are performing well. US Bancorp is up 3% after agreeing to take over 9 banks over the weekend which should be accretive to earnings next year. Travelers and Genworth are higher following upgrades. The techs are mixed this morning. The release of more and more smart phones caused Citigroup to downgrade Palm and Research in Motion. Palm is up 3% while Research in Motion is down 3%. Cisco is higher on an upgrade ahead of earnings on Wednesday. Juniper is also higher on an upgrade. At 10 o'clock, better than expected economic data sent the Dow up over 100 points. The Nasdaq, which briefly fell into the red, is bouncing back by 13 points. The roller coaster ride continues.
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