| 10:30 ET Dow +34, Nasdaq +9, S&P +6.72: [BRIEFING.COM] Gee, imagine that, some seesaw action in the major indices... True to recent form, the market has traded in choppy fashion... As was the case yesterday, Briefing.com suspects the market's relative resilience in the early-going in the face of negative newsflow has incited investors to step up their bargain hunting efforts... The SOX Index, in fact, has wiped out virtually all of today's losses since the last update which, in turn, has given the Nasdaq a lift... The financial shares, though, are really the anchor of today's modest gains as they are benefitting from Morgan Stanley's (MWD +3.76) better than expected earnings report and an expectation the Fed will continue its easing ways at next week's FOMC meeting.... Briefing.com is forecasting a 25bp rate cut... SOX -0.7%... NYSE Adv/Dec 1395/1229... Nasdaq Adv/Dec 1549/1409. |
