Day Traders Diary
1/26/10U.S. stocks on Tuesday opened modestly lower, with materials and energy shares hardest hit, as investors fretted over China's moves to curb bank lending. The Dow Jones Industrial Average fell 7 points to 10,189. The S&P 500 Index declined 2 points to 1,093. The Nasdaq Composite Index shed 7 points to 2,203. Plenty of earnings keep flooding in. Apple blew out numbers last night, but the stock is not reacting much. Texas Instruments, EMC, Tellabs,JDA Software, and VMware reported better than expected results. All are trading higher. VMware and Tellabs are both jumping 11%. Corning is down 3% even though they beat estimates. The financials are quiet to modestly higher. Travelers is up 3.6% after beating estimates. American Express, Morgan Stanley, and State Street are higher on upgrades. The commodities are mixed this morning. The fertilizers are higher on upgrades. Alcoa is up 2% on an upgrade. Peabody Energy is up 3% on earnings. U.S. Steel and Weatherford are lower by over 7% after missing estimates. After the first hour the averages moved into the green. The Dow rose 15 points. The Nasdaq inched up a couple of points.
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