Day Traders Diary
12/23/09U.S. stocks on Wednesday started tentatively higher for a fourth straight day of gains after the Commerce Department reported U.S. income and spending climbed in November. The Dow Jones Industrial Average gained 14 points to 1,115. The S&P 500 Index added 3 points to 1,121. The Nasdaq Composite Index gained 7 points to 2,260. The techs are performing well again. Micron and Red Hat are both up 5% after beating estimates. Both were upgraded. Google and Corning are both making new highs. Corning was upgraded while Google's Android is being accepted in China. Applied Materials and Seagate are higher on upgrades. 3Com is unchanged after beating estimates. HP is in the process of buying out the firm. Research in Motion opened lower, but rebounded after experiencing an outage last night for virtually all customers. The financials are quiet. The retail sector is modestly higher. Finish Line is up 8% after beating estimates last night. The commodities are weak. The fertilizers are weak on cautious comments. After the first hour the Dow gave up all its' gains. The Nasdaq is modestly in the green. Through the morning the Dow remained modestly in the red. The Nasdaq remained modestly in the green. Google and Apple continue to perform well. The commodities turned around, pushing higher. Many retailers improved as well. In the afternoon the Dow moved back into the green. The techs, retailers, and commodities pushed higher. Ford is in double digits at new highs. I didn't think that was possible six months ago. In the last hour the Dow gravitated back to the unchanged level. The Dow Jones Industrial Average finished up a point at 10,466. The S&P 500 added 2 points to 1,120. The Nasdaq Composite rose 16 points to 2,269.
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