| 11:00 ET Dow +22, Nasdaq +17, S&P +1.17: [BRIEFING.COM] Market has been on the defensive for the past half hour as the initial surge created a near-term overbought condition that is acting as the key driver behind today's profit taking.... Tech companies, and specifically the semiconductor stocks, have been pacing the retreat along with the brokerage, HMO and consumer goods issues... Hewlett-Packard (HWP +3.12) is doing its part, though, to limit the losses as it is rallying in response to its better than expected earnings report and reassuring guidance... HWP is the Dow's best performing component and is being followed by Boeing (BA +1.81)... Separately, President Bush is scheduled to release his energy plan today and he is expected to highlight the need to ease regulations that block the construction of coal, electric, gas and nuclear power plants... SOX +0.8%... NYSE Adv/Dec 1599/1153... Nasdaq Adv/Dec 2035/1276. |
