Day Traders Diary
12/11/09U.S. stocks extended early Friday gains after an upbeat reading on consumer sentiment followed a better-than-expected U.S. retail sales report for November. The Dow Jones Industrial rose 55 points to 10,461. United Tech is up 2% after reiterating guidance. Alcoa is up 6% on an upgrade. Disney is up a percent thanks to an upgrade. The S&P 500 Index climbed 5 points to 1,107. The Nasdaq Composite gained 8 points to 2,199. The big techs are performing well. Yahoo, Palm, Research in Motion, EMC, Corning, NCR, and Nokia were all upgraded. Corning is right near its' 52 week high along with Google. IBM made a nw high today. The chips are lower. Apple and Research in Motion are lower as well. The financials are modestly higher. The Treasury expects to make $936 million from selling JP Morgan warrants. Not bad. The retail sector is performing well. Best Buy, TJX, and Under Armour are higher thanks to upgrades. Christopher & Banks is jumping 28% after raising guidance. After the first hour the averages remain strong right where they started. Through the morning the averages remained in the green, but off the highs. In the afternoon more of the same. The Dow remained in the green while the Nasdaq held near the unchanged level. The commodity prices remain weak due to a small rally in the U.S. dollar. In the last hour, no change. The Dow Industrials finished up 65 points at 10,471, up 0.7% from last Friday's close. The S&P 500 Index added 4 points to 1,106, up less than 0.1% for the week. The Nasdaq Composite Index shed 55 cents to close at 2,190, a weekly fall of 0.2%.
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