Day Traders Diary

9/15/10

U.S. stocks slid at Wednesday's start after a report pointed to slowing growth in manufacturing in the New York region. The Dow Jones Industrial Average fell 22 points to 10,503. The S&P 500 Index shed 4 points to 1,116. The Nasdaq Composite declined 6 points to 2,283. A quiet morning for news so far. The commodities are getting hit once again. AK Steel is down 4% on cautious comments. Rowan is bucking the trend up 3% on an upgrade. Beazer Homes is down 3% after cutting guidance. The financials are lower this morning once again. SunTrust is down a percent even though their earnings estimates were raised by one analyst. Travelers is up 2% near its five month highs on no news. After the first half an hour the averages were unchanged. Quiet morning. In the afternoon the averages slowly improved led by the Dow Jones. The financials and consumer staples are acting well. In the last hour the averages kept improving moving to new highs for the day. Not bad. The Dow Jones Industrial Average finished up 46 points at 10,572, with 21 of its 30 components rising, led by shares of Travelers up 2.9%. The S&P 500 index gained 3 points to 1,125, while the Nasdaq Composite advanced 11 points to 2,301.32.

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