Day Traders Diary
7/25/12
U.S. stocks began higher Wednesday after a three-day losing stretch as Caterpillar and Boeing hiked their outlooks. The Dow Jones Industrial Average added 95 points to 12,713. The S&P 500 added 3 points to 1,342. The Nasdaq Composite advanced 2 points to 2,865. The earnings keep flooding in. Apple is one of the biggest losers falling 4% on disappointing earnings. Apple's suppliers are also getting hit, but the rest of the techs are holding up. Riverbed is jumping 25% thanks to a technology partnership with Juniper Networks. Juniper is also higher by 3%. Altera and IRobot are higher by 8% on earnings. Arm Holdings and Broadcom are up over 5% on earnings. The chips in general are all performing well. Symantec is higher by 3% on news of management shake-up. The financials are higher as former CEO Sandy Weill of Citigroup said the big banks should be broken up. JP Morgan, Goldman Sachs, and of course Citigroup are higher. The energy sector is getting a lift. Hess is up 3% on earnings while Conoco Phillips is down 2.5% on earnings. Materials and Industrials are also getting a lift. Caterpillar and Boeing are certainly helping the industrials. The defensive consumer staples are under pressure today. Through the morning the averages remained strong. It's a risk on day except for Apple. In the afternoon more of the same until the last hour when the Dow gave up its' triple digit gains and the Nasdaq gave up modest gains. The Dow industrials finished up 58 points at 12,676. The S&P 500 index fell nearly half a point to 1,337. The Nasdaq Composite fell 8 points to 2,854.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.