U.S. stocks open higher once again on this triple witching day, with the major indexes on track for weekly gains of more than 2%, continuing the market's recent rise to new highs for the year. The Dow Jones Industrial Average added 56 points to 9,840. P&G is up 3% on an upgrade. The S&P 500 Index climbed 5 points to 1,070, while the Nasdaq Composite rose 8 points to 2,135. Plenty of upgrades once again. In the tech sector Apple, Google, IBM, and Redhat were all upgraded. All four are higher. Texas Instruments is modestly higher after raising their dividend a penny. Palm is one of the few losers in the Dow, down 4% on disappointing earnings guidance. The financials are quiet this morning. Deutsche Bank was upgraded while Charles Schwab was downgraded. Both are lower. Discover, E-trade, and Lincoln Financial are modestly higher on upgrades. The homebuilders are modestly higher on a sector upgrade at JP Morgan. In the retail space Bed Bath & Beyond and Callaway are higher on upgrades. After the first hour the averages remain quiet. The Dow remained in the green by 20 points. The Nasdaq was unchanged. Through the morning and into the afternoon the averages improved. No sell off. The Dow Jones Industrial Average finished up 36 points to end at 9,820, and up 2.2% for the week. The S&P 500 Index climbed 2 points to 1,068, for a weekly advance of 2.5%. The Nasdaq Composite rose 6 points to 2,132, for a weekly gain of 2.5%.
first half an hour, the averages received a jolt thanks to better than expected manufacturing data. The Dow jumped a quick 50 points. The Nasdaq moved into the green. After the first hour, the rally fizzled with the averages retreating to the unchanged level. Through the rest of the morning and into the afternoon, the averages hovered around the unchanged level. A select number of stocks are performing well like the oil refiner, Valero up 6%, Citigroup is up 5%, Bank of America is up 2%, and tech stocks Apple and Google keep pushing higher. In the last hour, the averages finished in the red, but not by much. The Dow Jones Industrial Average finished down 7 points at 9,783. The S&P 500 Index declined 3 points to 1,065 while the Nasdaq Composite shed 6 points to 2,126.
on their merger with Wachovia. Legg Mason is higher after saying their assets under management have improved. KB Homes is up 2% after resuming operation in the Mid-Atlantic States. After the first half an hour the averages remain in the green. Through the morning and into the afternoon, the averages slowly built momentum pushing higher. Entering the last hour, the Dow was up 100 points. The Nasdaq improved by 27 points. Things are looking better and better. In the last hour the averages moved back toward the highs of the day. The Dow Jones Industrial Average climbed 108 points, or 1.1%, to finish at 9,791. The S&P 500 Index rose 16 points, or 1.5%, to 1,068 while the Nasdaq Composite jumped 30 points, or 1.5%, to close at 2,133.
into the red, but it didn't last. Through the morning the averages hovered around the unchanged level. Fed Chairman Bernanke declared the recession is over. That's good. In the afternoon, the averages crept into the green. Within the Dow, Caterpillar is up 5%, GE is up 4%, and DuPont is up 2%. In the last hour the Dow rose 80 points above 9700 before pulling back into the close. The Dow Jones Industrial Average finished up 56 points at 9,683. The Nasdaq Composite gained 10 points to 2,102 while the S&P 500 gained 3 points to close 1,052. Today was the highest closes for the Dow and S&P 500 since October 6th of last year.
the morning, the averages slowly recovered. In the afternoon, the remained in the red, but not by much. In the last hour, the resilient averages clawed their way into the green. The Dow Jones Industrial Average finished up 21 points at 9,626. The S&P 500 Index rose 6 points to 1,049 while the Nasdaq Composite climbed 10 points to end at 2,091.