Friday, March 19, 2010

MIDDAY LUNCH

Dow 10727.85  -54.04, Nasdaq 2371.91  -19.87,S&P 1159.10  -7.06 

Small cap stocks are under pressure today lead by Palm (PALM) 4.26 -1.39, -24.60%.  Palm is being sold off after reporting earnings that missed estimates and analysis downgrades with one analysis saying the price will go to $0.00.

Airline stocks are also getting slammed today; the Amex Airline Index is down -2.6%.  AMR Corp (AMR) 9.09 – 0.44, -4.72% is one of the worst performers.

The stock market's fall has come in conjunction with the dollar's increased gains, the Dollar Index is at a fresh session high with a +0.8% gain. This has also pressured commodities to the downside. The CRB Commodity Index is down -1.5%.

Also pressuring stocks today is the possible vote on President Obama’s heath care bill which could occur on Sunday. 

No comments: