Reply #37: 10:03 EST numbers and blather

[UpInArms]

Dow 10,397.79 -6.14 (-0.06%)
Nasdaq 1,973.53 -0.84 (-0.04%)
S&P 500 1,172.80 -0.99 (-0.08%)
10-Yr Bond 4.358 -0.16 (-0.37%)

NYSE Volume 282,457,000
Nasdaq Volume 269,017,000

10:00AM: Equities still on the defensive as the bulk of sector leadership remains negative... Pacing the way lower again has been Materials (-0.9%), due to slowing demand for Steel (-2.1%), while Financial (-0.2%), amid weakness in Brokerage and Banks, has also been under pressure... Technology has been weak across the board, with losses in Hardware (-0.8%) - due in part to Apple Computer's (AAPL 39.43 -1.61) cautious Q3 sales outlook - preventing the influential sector from recovering much of what was lost yesterday...

Consumer Discretionary and Utility have also been weak while Transportation (-1.2%) has been under pressure following downgrades on a few railroad stocks... Airline (+3.7%), however, has been strong following better than expected earnings from Southwest Airlines (LUV 15.30 +0.58) while Energy (+0.9%) has also been strong as oil prices hold onto modest gains...NYSE Adv/Dec 964/1597, Nasdaq Adv/Dec 1044/1269