Day Traders Diary

6/9/09

U.S. stocks edged higher at Tuesday's start, with energy and information technology shares leading the gains, after Texas Instruments raised earnings forecasts. The Dow Jones Industrial Average rose 18 points to 8,782. The S&P 500 Index gained 3 points to 942, while the Nasdaq Composite added 11 points to 1,853. Texas Instruments is jumping 6% after raising guidance. All the techs are performing well. Rival Xilinx is jumping 4%. Amtech made positive comments on Google this morning. The financials are modestly higher. As many as 10 banks are expected to get approval to repay government bailout funds today. Some of the top names include American Express, Bank of New York Mellon, Capital One, Goldman Sachs, and JP Morgan. On the earnings front Mens Wearhouse, Pep Boys, Hooker Furniture, and Talbots all reported. Mens Wearhouse and Pep Boys are both up over 9%. Royal Caribbean is lower by 2% after lowering guidance due to the swine flu. Callaway is lower by 14% after lowering their dividend to a penny. After the first half an hour, the Dow was down 4 points. The Nasdaq rose 10 points. Through the morning, the Dow remained in the red. The Nasdaq remained in the green. The financials that are repaying the TARP are in the green. In the afternoon, more of the same. The Dow hugged the flat line. The Nasdaq remained modestly in the green. In the last hour, all the major averages snuck into the green.

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