Day Traders Diary
3/29/10U.S. stocks started higher on Monday as investor sentiment improved on thinking the global economic recovery continues thanks in part to encouraging news out of Greece. The Dow Jones Industrial Average rose 42 points to 10,892. The S&P 500 Index climbed 5 points to 1,172. The Nasdaq Composite added 12 points to 2409. The markets seem to want to go higher at least into the end of the quarter on Wednesday. Citigroup opened higher as the Treasury over the weekend agreed to sell their stake in the global giant. A top money manager in Barrons over the weekend recommended Bank of America, Citigroup, and AIG. All three opened higher. The rest of the financials opened higher as well, but then sold off. Citigroup fell into the red. Huntington Bancshares is lower even though FBR upgraded the regional bank. In the tech space Apple opened at another new high. The chips are performing well. Micron received an upgrade. Google is one of the few techs trading lower. In the retail space Best Buy, Finish Line, Talbots, and Bed, Bath, and Beyond were upgraded. Finish Line and Best Buy are actually lower. Dreamworks is the dog day down 8% after their new animated movie did not live up to expectations. After the first hour the averages remain in the green, but off the highs. Through the morning the averages pushed higher. The Dow rose over 10900 before pulling back. Most of the financials are now in the red. In the afternoon more of the same. The commodities are performing well. Freeport McMoran is jumping 4% on an upgrade. In the last hour the averages held their gains. The Dow Jones Industrial Average finished up 45 points at 10,895. The S&P 500 Index rose 6 points to 1,173. The Nasdaq Composite Index climbed 9 points to 2,404.
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.