Day Traders Diary
11/2/10U.S. stocks opened solidly higher on Tuesday as Americans cast their ballots in the midterm elections. The Dow Jones Industrial Average rose 76 points to 11,200. The S&P 500 added 8 points to 1,192. The Nasdaq Composite gained 21 points to 2,526. Plenty of earnings this morning. In the retail space Texas Roadhouse, Leap Frog, Nutrisystem, and Cabela's are higher following earnings. Fossil is higher on an upgrade while Aeropostale is lower on a downgrade. Other companies trading higher following earnings include Mastercard, Medco Health, BP, Teva Pharma, Rudolph Tech, Marvell, and Martin Marietta. In the healthcare space, Unitedhealth Group and Humana are higher thanks to upgrades. After the first half an hour the Dow remained strong up 80 points. The Nasdaq rose 21 points. Not all stocks are higher following earnings. Clorox, Tenet Healthcare, ADM, Emerson, Rowan, and Marathon Oil are all down over 3% following earnings. Boeing is weakest Dow component down 2%. IBM is breaking out to new highs. Through the morning the averages remain in the green. In the afternoon the averages rebounded moved back toward the highs of the day. In the last hour the averages held their gains. The Dow Jones Industrial Average finished up 64 points at 11,188, with shares of Home Depot up 2.6% and IBM closing at a new high for the year. The S&P 500 index gained 9 points to end at 1,193. The Nasdaq Composite 28 points, or 1.1%, to end at 2,533.
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