Day Traders Diary
2/11/10U.S. stocks tallied modest losses at Thursday's start, with better-than-expected data on the jobs front pushing the dollar higher, with commodities and equities hit as a result. The Dow Jones Industrial Average declined 15 points to 10,022. The S&P 500 Index fell 2 points to 1,065. The Nasdaq Composite shed 4 points to 2,143. A quiet morning for news as many people in the Northeast are still digging out from the snow storm. On the earnings front Allstate and Prudential produced in line earnings. Neither stock is reacting much even though the analysts remain bullish on the stocks. Video game maker, Activision Blizzard is up 8% after beating estimates. A number of companies are trading lower following earnings including AutoNation, SunLife Financial, Marriott International, and Progress Energy. After the first half an hour the Dow dropped 40 points as the Nasdaq declined 10 points. Not many stocks are in the green. In the tech space Palm and Nvidia are higher on upgrades. Redhat and Hewlett Packard were also upgraded, but neither are reacting much. The financials are modestly lower. Credit Suisse made positive comments on Bank of America and Wells Fargo. The commodities have turned around moving into the green. Through the morning and into the afternoon the U.S. dollar sold off sending the averages and commodities higher. The Dow shot up 100 points. The Nasdaq rose 25 points. The techs and commodities are in the lead. The financials are quiet once again. The averages held on to their gains into the close. The Dow Jones Industrial Average finished up 105 points, or 1.1%, at 10,144. The S&P 500 Index added 10 points, or 1%, to 1,078. The Nasdaq Composite Index climbed 29 points, or 1.4%, to 2,177.
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