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U.S. stocks opened slightly higher on Wednesday lifted by great earnings including Apple's spectacular numbers out last night. The Dow Jones Industrial Average rose 19 points to 11,136. The S&P 500 Index climbed a point to 1,209. The Nasdaq Composite added 8 points to 2,508. Apple is jumping 6% on blow out numbers. Other techs beating numbers include Yahoo, VMware, Juniper Networks, Seagate, Altera, and EMC. Surprisingly, the chips are lower. Research in Motion is higher on an upgrade. The regional banks are on fire this morning. KeyCorp and Huntington Bancshares are both up 14% this morning following better than expected earnings. The big banks are doing pretty good as well. Wells Fargo, Morgan Stanley, and Suntrust all beat earnings estimates. All three are higher. Moodys and Knight Trading are lower following earnings. Five Dow components reported this morning including Boeing, AT&T, McDonalds, United Tech, and Altria. Only AT&T is lower. Other earnings coming in include Ryder, Freeport McMoRan, Abbott Labs, St Jude, Lockheed Martin, and Polaris. Polaris is up 7% while Freeport and Gilead Sciences are both down over 4%. After the first hour the averages remain in the green. As the morning progressed the averages gave up most of their gains. Nasdaq fell into the red. The chips are weak and the commodities are not participating in the rally. In the afternoon, more and more stocks fell into the red. Apple and the regional banks remain strong. Heading into the last hour the averages sold off. Apple, KeyCorp, Huntington Bancshares, Boeing, and United Tech look good. Everything else is pulling back. In the last hour the averages fought back into green territory. You can't keep this market down. The Dow finished up 7 points at 11,124. The S&P 500 declined a point to 1,205. The Nasdaq Composite rose 4 points to 2,504.
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