Day Traders Diary

7/27/10

U.S. stocks open higher once again after chemical maker DuPont added its name to the list of companies reporting results that topped forecasts. As one strategist put it, "The earnings are easily beating the street, taking away that double-dip scenario." The Dow Industrials rose 35 points to 10,560. DuPont is up 4%. The S&P 500 rose 4 points to 1,119. The Nasdaq Composite gained 9 points to 2,305. The earnings keep streaming in. Stocks trading higher following eanrings include UBS, Under Armour, Lexmark, Cummins, Regions Financial, Nasdaq OMX, and Teva Pharma. At 10 o'clock weaker than expected economic and consumer sentiment numbers sent the averages into the red. The commodity stocks are weak this morning. AK Steel, US Steel, Valero Energy, Occidental, and BP are lower following earnings. BP only lost $17.2 billion during the quarter. Mosaic is lower thanks to a downgrade. A couple of other stocks trading lower following earnings include Jacobs Engineering, Tellabs, Americsource Bergen, L-3 Communications, and Level 3. What the odds L-3 and Level 3, two separate companies, report the same day. After the first hour the Dow was back in the green, but not by much. The Nasdaq was unchanged. Through the morning the averages fell back into the red led by commodities and techs. The financials are holding up.

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