Thursday, January 07, 2010

MIDDAY LUNCH


Dow 10587.51  +13.83, Nasdaq 2293.74  -7.35  S&P 1138.87  +1.73 

The markets are mixed today and volume has been good.  Strength in the market is coming from the Financials, while there is weakness in the Tech area.

Financials are posting a +1.9% gain with nice gains in the Banking group (+3.6%) and Regional Lenders (+5.6%)

For the second straight session tech stocks have weighed on the broader market.  Tech is currently down -0.7%. Losses among large-cap tech issues like Google (GOOG) 599.51, -8.75, Microsoft (MSFT) 30.27, -0.50, and Intel (INTC) 20.36, -0.44 are the sector's primary laggards.

A batch of generally encouraging December same-store sales reports from the retailers provided a supportive influence ahead of the claims report. Macy's (M), TJX Cos. (TJX), Limited (LTD), American Eagle (AEO), and Gymboree (GYMB) all increased their earnings guidance in conjunction with their same-store sales updates.

Barclays Capital reiterated their overweight rating on Apple (AAPL) 210.29 -0.69 and changed their target price from $235 to $260

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