MIDDAY LUNCH

Dow 10427.90  +35.00, Nasdaq 2248.72  +7.01, S&P 1111.49  +4.74 

Stocks are choppy today but trading to the plus side as the dollar falls.  The dollar is currently down only -0.1%, but had been up +0.5% earlier in the morning.

The S&P 500 has now pushed through its 50-day moving average, which caused technical resistance yesterday. The latest leg up puts stocks at their best level in roughly one month.

The trading strength today has been broad based, but utilities stocks continue to outperform. The sector is now up +1.5%. 

Also doing well today are natural resource stocks, helped by the weaker dollar.  The materials sector is up +0.8%. Steel stocks continue to be a primary source of support for the sector; they are currently up +3.6%.

PG&E Corp (PCG) 42.74 +0.23, +0.54% is trading higher after the company announced better-than-expected adjusted earnings of $0.80 per share. The company also reaffirmed an in-line earnings outlook and boosted its quarterly dividend to $0.455 per share from $0.42 per share.

Some stocks that are having a good day include: Berkshire Hathaway (BRKB) 78.66 +2.04, +2.67%, United States Steel Corp. (X) 53.44 +2.46, +4.85%, Sysco Corp. (SYY) 29.14 +0.63, +2.17%, and Teva Pharmaceuticals (TEVA) 58.64 +1.62, +2.85%.