Day Traders Diary
1/6/2010U.S. stocks on Wednesday opened mixed following a softer-than-expected reading on jobs in the private sector. The Dow Jones Industrial Average declined a point to 10,570. The S&P 500 declined fractionally to 1,136. The Nasdaq Composite Index gained 5 points to 2,313. The tech sector is lower, but the analysts remain bullish. Sandisk, Salesforce.com, Amazon, Qualcomm, EMC, Microsoft, SAP, Google, Micron, and Intel were all upgraded. A few are higher including Sandisk, SAP, and Micron. Google is down nearly 2% after releasing their Nexus phone yesterday. Some traders are concerned Google's phone will hurt margins in the short term. The financials are quiet this morning. Genworth is up 2% to new recent highs. The stock has seen strong momentum and heavy option activity recently. In the commodity space, Mosaic had solid earnings last night. The stock is modestly higher along with the rest of the fertilizer stocks. In the retail space, Family Dollar is up 11% on better than expected earnings. Kohls is up a percent on an upgrade. The retailers in general are holding firm like the broader markets. After the first hour the averages remained near the unchanged level. Through the morning and into the lunch hour the averages remain near the unchanged level. The financials have improved a little, but the big cap techs remain weak. In the last hour the Dow nudged into the green, but the techs remained in the red. The Dow Jones Industrial Average finished up a point at 10,573. The S&P 500 gained less than a point to 1,137, while the Nasdaq Composite Index fell 7 points to 2,301.
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