Day Traders Diary
02/08/12
U.S. stocks wavered early Wednesday, with investors unsure what to make of Greece 's work to reach the accord needed to secure new rescue funds. The Dow Jones Industrial Average fell 9 points to 12,868. The S&P 500 Index gained half a point to 1,347. The Nasdaq Composite climbed 4 points to 2,907. The broader averages are quiet, but there are plenty of stocks moving today. On the earnings front, Buffalo Wild Wing is jumping 14% on earnings. Wyndham Worldwide, Ingersoll Rand, Agrium, Polo, Computer Sciences, Hartford , Disney, Lincoln National, and National Financial Partners are all higher on earnings. Annaly Mortgage, Panera Bread, Sprint, Western Union , Coventry Health, and Moodys are all following following earnings. The best performing sectors so far this morning are techs and financials. The insurance stocks are certainly helping the financials. Bank of America is back above $8 a share for the first time since August. Annaly Mortgage is down 2% following earnings. In the tech space all the blue chips are performing well. Apple made a new 52 week high. Most of the rest of the sectors are trading lower. The energy and materials are lower for the most part. Freeport McMoran is bucking the trend up 2% after hiking their dividend. In the retail space Gamestop is jumping 4% after initiating a 2.3% dividend. Companies are getting religion on paying higher dividend payouts. Through the morning the averages moved a little lower with the Dow falling 55 points and the Nasdaq dropping 10 points. Into the afternoon the averages battled back reaching the unchanged level. In the middle of the afternoon, Greece may or may not have effectively laid out their plan to solve their crisis. The averages did not react one bit. In the last hour the averages nudged into the green and held on to gains. The Dow Jones Industrial Average finished up 5 points to 12,883. The S&P 500 Index rose 2 points to 1,349. The Nasdaq Composite advanced 11 points to 2,915.All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.