Friday, August 20, 2010

MIDDAY LUNCH

Dow 10167.60  -103.61, Nasdaq 2164.82  -14.13, S&P 1066.22  -9.41 

Stocks continue to trade lower, but they are off their session lows.  Action is light as traders seem to be taking a wait and see approach going into next week.  Additionally, with the Iranian nuclear facility going live on Saturday, some military analysts are suggesting that if Israel is going to take out the facility, it needs to occur before the reactor goes live.

Conglomerates and Energy are leading the market lower, down -1.50% and -1.29% respectively as traders question the health of the economy.

Bucking the down trend today Salesforce.com (CRM) 110.36 +13.95, +14.47% and Intuit (INTU) 43.46, +4.73, +12.20%.  Saleforce.com is higher after the company reported earnings after the close yesterday the beat estimates.  Intuit also beat estimates and raised their guidance.

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