| Dow +139, Nasdaq -14, S&P +8.56 : [BRIEFING.COM] The Nasdaq has come under pressure over the last hour due to selling in chip stocks (SOX 549.96 -12.76) as well as UBS Warburg downgrading Hewlett-Packard (HWP 18.91 -4.30) and Compaq (CPQ 10.95 -1.40) to Hold from Buy in an afternoon call. While a few analysts have been positive on the deal, the majority have their doubts as to how much value this really creates given the integration risks....Food, tobacco, retail, ..Coca-Cola (KO 50.24 +1.57) continues its recent hot streak as it has broken above $50 for the first time since early March. Another stalwart, Disney (DIS 25.92 +0.49), however flirted with yet another 52-wk low this morning....Should be a quiet session after the bell on earnings front. However, with so many retailers reporting August same store comps tomorrow, we expect at least a warning or two from the group...Treasuries getting hit today as NAPM report this morning reduces odds for rate cuts beyond early Oct FOMC meeting. SOX -2.3%... |
