U.S. stocks opened mostly up on Wednesday amid another heavy round of earnings with Boeing weighing on the Dow Jones Industrial Average. The Dow fell 4 points to 11,972 on the open due in part to a 3% drop in Boeing. The Standard & Poor's 500 Index rose 2 points to 1,293. The Nasdaq Composite climbed 4 points to 2,723. The earnings are mixed this morning. Rochester, New York is not having a good day. Local firms Xerox and Eastman Kodak are both down over 7% following earnings. Other stocks trading lower following earnings include NY Community Bancorp, Abbott Labs, Southern Company, St Jude Medical, Legg Mason, Textron, ADP, Callaway, Altera, Yahoo, and CA Tech. The financials in general are lower once again except for Piper Jaffray up 14% following earnings. Stocks trading higher following earnings include Juniper Networks, Gilead Sciences, Conoco Phillips, Swift Transport, US Airways, General Dynamic, Hess, Valero Energy, Wellpoint, and Canadian Pacific. The commodities are performing well with the fertilizers, the oils, the steels, Freeport McMoran, and Cliffs Natural Resources all trading sharply higher. Baker Hughes is jumping 6% on an upgrade. Noble Corp was downgraded, yet the stock is up 2%. Plenty of upgrades this morning. Verizon, Corning, Xilinx, Intel, Salesforce.com, and Amazon are all higher on upgrades. After the first hour the Dow rose over 20 points above 12000 for the first time in two and a half years. The Nasdaq rose 20 points. Through the morning the averages pulled back only to rally once again. In the afternoon the Fed left rates unchanged once again producing little reaction. In the last hour the Dow pulled back while the Nasdaq remained strong. The Dow Jones Industrial Average finished up 22 points at 11,999. The Standard & Poor's 500 Index rose 5 points to 1,297. The Nasdaq Composite climbed 20 points to 2,739.
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