11:00 ET Dow +35, Nasdaq -47, S&P -5.38: [BRIEFING.COM] The Nasdaq remains solidly negative as traders swap out of techs in
favor of cyclicals. Storage group getting hammered on negative Goldman comments on EMC which also announced a 4% workforce
reduction. Other weak storage companies: BRCD -8%, CRDS -11%, EMLX -7%, MCDT -11%...As for the Dow, it's struggling to stay
north of technical/psychological support at 11,000. Next support of interest is the 10,940/10,930 area. Merck (MRK 74.30 +1.70) is the
top performing Dow stock...Airlines are weak on downgrades from ABN AMRO: DAL and AMR. Also, oil prices are higher on reports
from Turkey that it has not received a tanker loading schedule for any dates beyond Thursday. There always seems to be some semblance of
a disruption when the Iraq oil-for-food deal comes up for renewal. NYSE Adv/Dec 1260/1453... Nasdaq Adv/Dec 1212/2080. |
