Day Traders Diary
U.S. stocks tallied mild opening losses on Thursday as resource-related shares fell along with the price of commodities including gold and oil. The Dow Jones Industrial Average fell 17 points to 10,556. The S&P 500 dropped a point to 1,136 while the Nasdaq Composite Index shed a point to 2,299. The retail sector is in focus on better than expected December sales. Sears is jumping 12% after lifting guidance. Macys, Aeropostale, and Kohls all lifted numbers. Dicks and Mattel are higher on upgrades. TJX is up 3% thanks to strong December sales. Bed Bath & Beyond and Ruby Tuesdays are both up over 4% on strong earnings. A few retailers are lower. Rite Aid is down 3% on a downgrade. Gamestop is down 16% after cutting estimates significantly. The techs are weak for a second straight even though Google, Apple, and SAP were upgraded. Only SAP is higher. The financials are quiet this morning. Mastercard is lower on a downgrade while Bank of America is up a percent on an upgrade. It's been a good week for Bank of America. After the first half an hour the Dow declined 45 points. Within the Dow, Alcoa and Dupont are lower on downgrades. The Nasdaq declined 12 points. Through the morning the Dow improved thanks to the financials. The techs are trying to rebound. Google dropped 2% then rebounded thanks to some positive analyst comments. The retailers continue to perform well. In the afternoon and in the last hour the Dow improved thanks to a great rally in the financials. The techs are not participating including Google which is down 2% today and 5% this week. Ouch. The Dow Jones Industrial Average finished up 33 points at 10,606. The S&P 500 Index gained 4 points to 1,141. The Nasdaq Composite Index fell a point to 2,300. 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.