Day Traders Diary
11/20/09U.S. stocks tilted lower at Friday's start as investors fled to the relative safety of the dollar and bonds. The Dow Jones Industrial Average fell 20 points to 10,312. The S&P 500 shed 3 points to 1,091. The Nasdaq Composite Index declined 12 points to 2,144. An earnings disappointment from computer maker Dell is hitting the technology sector. Dell is down 9%, but all the big techs are lower. Research in Motion is lower by a percent on a another downgrade. Intuit is lower by 2% even though they beat estimates. The financials are holding firm even though Congress is working on legislation for too big to fail banks. Aflac is modestly higher on an upgrade. A number of retailers are trading higher on better than expected earnings. Dress Barn, AnnTaylor, Hibbett Sports, and Smuckers are higher following earnings. Nike is unchanged after raising their dividend. Gap is modestly lower on in line earnings. The commoditiy space is trading lower as well. Valero is modestly higher after announcing job cuts. Hess is modestly higher on an upgrade. After the first hour, the averages remain in the red, but not by much. Through the morning and into the afternoon the averages remained quiet and in the red. In the afternoon the averages slowly recovered, but remained in the red. The Dow Jones Industrial Average finished down 14 points at 10,318, leaving it up 0.5% for the week. The S&P 500 Index fell 3 points to 1,091, a level that translates into a weekly loss of 0.2%. The Nasdaq Composite shed 10 points to 2,146, down 1% from the week-ago's close.
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