Day Traders Diary
6/17/10U.S. stocks opened mildly higher on Thursday as a rise in weekly jobless claims dampened cheer over a largely successful bond auction by Spain. The Dow Jones Industrial Average rose 7 points to 10,417. The S&P 500 Index added a point to 1,115. The Nasdaq Composite rose 7 points to 2,313. On the earnings front Kroger, Pier One, Smuckers, and Winnebago are all up at least 5% following better than expected earnings. Smithfield and Newell Rubbermaid are down 3% following earnings. The techs are performing well. Apple, Research in Motion, and EMC are higher on upgrades. Google is performing well. Nokia is higher even though it was downgraded. The chips are modestly lower. The financials are modestly higher. Visa and Mastercard are higher on upgrades. At 10 o'clock a brutal manufacturing number sent the averages lower. The Dow dropped 50 points. The Nasdaq declined 9 points. In the healthcare space, Aetna is up 2.5% after the company said they can beat second quarter estimates. After the first hour the averages pushed lower with fewer and fewer stocks in the green. In the afternoon the averages recovered only to sell back off in the last hour, and then rebound into the close. Go figure. BP is modestly lower as their CEO has had to sit in front of Congress all day listening to a much of grandstanding. Where were the regulators to enforce proper drilling technics. The Dow Jones Industrial Average finished up 24 points at 10,434. The S&P 500 Index finished up a point at 1,116. The Nasdaq Composite rose a point to 2,307.
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