Investors decided that they would be selling shares this morning as earnings from Bank of America (BAC), General Electric (GE) and IBM Corp (IBM) failed to live up to street expectations.
It will be interesting to see if there are enough buyers out there that can push the Dow average back above the 10,000 level to close the week. Wall Street analysts were out in force this morning, making positive calls on shares of CME Group (CME), Safeway (SWY) and Walgreen Co. (WAG), while being negative on companies like Allegheny Technologies (ATI), Nokia (NOK) and William-Sonoma (WSM).
Elsewhere in the market, we are seeing stocks like Mattel (MAT) rally after their earnings report. Also McDonald’s (MCD) and Kraft Foods (KFT) are higher. On the flipside, sellers are dumping shares of U.S. Steel (X), Black & Decker (BDK) and State Street (STT).
Gold (GLD) and Treasury (TLT) prices are higher, while Oil (USO) prices pull back slightly, following yesterday’s big gains.