DJIA Ekes Out a Win, Despite Cisco's Post-Earnings Slump

A Greek austerity deal brought out the bulls, even as CSCO turned south

by 2/9/2012 4:28:35 PM
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Crude futures closed higher today, but stopped just short of reclaiming triple-digit territory. Traders were encouraged by an austerity accord among Greek lawmakers, which bolstered hopes for an imminent bailout of the cash-strapped country. Meanwhile, here at home, an upbeat report on jobless claims also sparked some optimism regarding future energy demand. Crude oil for March delivery wrapped up the day on a gain of $1.13, or 1.1%, at $99.84 per barrel.

Gold futures also caught a lift, with the precious metal taking its cues from the currency markets. Policymakers in England and Europe opted to hold steady with ultra-low interest rates, and the U.S. dollar declined against its foreign rivals as the Greek austerity pact lessened safe-haven demand for the greenback. By the close, April-dated gold was up $9.90, or 0.6%, at $1,741.20 per ounce.

Levels to Watch in Trading:

  • Dow Jones Industrial Average (DJIA 12,890.46) - support at 10,500; resistance at 13,000
  • S&P 500 Index (SPX 1,351.95) - support at 1,100; resistance at 1,400
  • Nasdaq Composite (COMP 2,927.23) - support at 2,400; resistance at 3,000



OUTPERFORMING AND UNDERPERFORMING SECTORS

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STOCKS  NEW ANNUAL HIGHS

STOCKS  NEW ANNUAL LOWS

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