Day Traders Diary
3/5/10U.S. stocks opened higher on Friday after a better-than-expected jobs report for February lifted equities, commodities and the dollar. The Dow Jones Industrial Average added 53 points to 10,497. The S&P 500 Index gained 6 points to 1,129. The Nasdaq Composite Index climbed 11 points to 2,303. The retailers look good once again following a strong Thursday. Abercrombie & Fitch, Foot Locker, Gymboree, and Dicks are higher on upgrades. Sanderson Farms and Tyson Foods are lower on downgrades. The financials are higher except for Capital One. Capital One is lower on a downgrade. The techs are quiet this morning. Marvell is down 2% following earnings last night. Google and Apple continue to perform well. Apple announced the release of the Ipad on April 3rd. Two firms upgraded Google. In the commodity space Potash, Mosaic, and Agrium are higher on upgrades. After the first half an hour the Dow rose 70 points above 10500. The Nasdaq 16 points above 2300. So far so good. Through the morning the averages sold off a little bit, then rallied once again. In the afternoon the averages remained pushed a little higher with the Dow rising over 100 points. The Nasdaq improved by 30 points. Most sectors are performing well. The correction seems to be over. In the last hour the averages kept improving. The Dow Jones Industrial Average added 122 points, or 1.2%, to close at 10,566, leaving it up 2.3% for the week. The S&P 500 Index climbed 15 points, or 1.4%, to 1,138, a weekly advance of 3.1%. The Nasdaq Composite rose 34 points, or 1.5%, to 2,326, up 3.9% from the week-ago close.
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