MIDDAY LUNCH

Dow 10037.05  +18.77, Nasdaq 2153.92  -5.55, S&P 1060.02  -0.25 

Both the Nasdaq and S&P have just fallen into the red as sellers have entered the market. 

Blue chip names have remained strong for the most part, helping to keep the Dow above water.  Some holdings sporting gains include: McDonalds (MCD)  68.46 +1.14, +1.71%,  Proctor & Gamble (PG) 61.44 +0.62, +1.02%, Coca-Cola (KO) 51.96, +0.49, +0.95%, and Johnson & Johnson (JNJ) 60.89 +0.28, +0.46%.

In economic data today retail sales rose, but stores had to attract showers with heavy discounting.  June sales were up +3.1%, barely missing analyst estimates of +3.2%. Last year, June sales fell -4.9%.

Initial jobless claims came in at 454,000 for the week ending July 3, while economists had expected the number to come in at 460,000.  The four week average which is a better gage of jobless claims fell by -1,250 to 466,000.