MIDDAY LUNCH

Dow 10998.49  -20.17, Nasdaq 2456.66  -24.60, S&P 1185.97   -6.16 

The market continues to trade in negative territory with Airlines leading the way lower.  The Amex Airline Index is down a sharp -2.7% as many airlines have continued to ground flights Europe due to the volcano in Iceland.

Large cap techs are also weak today.  Cisco (CSCO) 26.70 -0.28, -1.04%,  Apple (AAPL) 243.93  -3.47,-1.40%, and Intel (INTC)  23.56  -0.36, -1.51% are primary sources of weakness.

IBM (IBM) 131.41 +0.78, +0.60 is trading higher before the release of the company’s earnings reports, due out after the close.  Wall Street estimates are for the company to post earnings of +$1.93.

On the Plus side, Financials +0.2%, Telcom+0.7% and Health Care +0.5% are all trading with fractional gains.