Day Traders Diary


U.S. stocks opened mildly lower Monday as investors weighed Dubai's debt trouble against some hopeful signals on U.S. holiday sales. The Dow Jones Industrial Average fell 26 points to 10,283. The S&P 500 Index was off a point to 1,089. The Nasdaq Composite shed 6 points to 2,131. The Dubai issues don't seem to be hurting the U.S. financials. Bank of America, JP Morgan, and Wells Fargo are all up 2% or more. US Bancorp is up 3.5% thanks to an upgrade. HSBC is modestly higher on an upgrade after getting hit last week. Franklin Resources is lower on a downgrade. Besides the financials, the retailers are also performing well. Best Buy is up 2% on an upgrade. Abercrombie & Fitch and American Eagle are higher as well due to upgrades. Today is cyber-Monday so Amazon and Ebay are also performing well. Amazon's Kindle is selling well. Deere is up 2% on an upgrade. Google is higher on an upgrade. Everyone is anticipating the new Google phone coming out next year. Research in Motion is higher even though one brokerage firm lowered their price target. After the first hour the Dow moved into the green thanks to the financials. The Nasdaq is unchanged. Through the morning and into the afternoon, the Dow gravitated back to the unchanged level. The financials remain in the green thanks to positive comments from Goldman Sachs this morning. In the afternoon, in the last hour, the averages pushed higher once again. The Dow Jones Industrial Average finished up 34 points at 10,344, leaving it up 6.5% for November. The S&P 500 Index climbed 4 points to 1,095, up 5.7% from the month-ago close. The Nasdaq Composite gained 6 points to 2,144.60, leaving it with an advance of 4.9% for the month. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.