MIDDAY LUNCH

Dow 10363.47  +147.20, Nasdaq 2229.95  +31.59,S&P 1093.65  +14.90 

Broad based buying and good corporate news has sent the markets higher today.  Even a downgrade of Portugal’s debt rating by Moody’s hasn’t affected stocks.  In fact the Euro is higher against the dollar.

Conglomerates are leading the market today up +2.03% followed by Capital Goods +1.96% and Basic Materials +1.66%.

Tech stocks are gaining support as investors wait for Intel (INTL) 20.95 +0.38, +1.82% to report earnings after the close today.  Consensus estimates are for the company to report EPS of +$0.43 versus +0.18 a year ago.

Shares of Apple (AAPL) 250.11 -7.25, -2.79% are lower on concerns about the company’s iPhone 4 after Consumers Reports said they could not recommend buying the phone due to very bad reception issues.