Paul Shread

Traders cheered a government report that showed the U.S. economy slowed in the second quarter, sending stocks higher to cap their best week since November 2004. The economy grew at a 2.5% rate in the second quarter, according to the Commerce Department. That was less than economists were expecting and half the first quarter’s growth […]

The Nasdaq (first chart below) remains very much range-bound between 2050 and today’s high of 2093; we’ll see if tomorrow’s GDP report will be the catalyst for the index to break out of its trading range. The S&P (second chart) has support at 1260 for tomorrow, and resistance is 1266 and 1277-1281. The Dow (third […]

Disappointing results from Baidu.com and Tellabs outweighed a number stellar earnings reports from technology companies on Thursday. A strong market rally turned into a loss for the Nasdaq, as traders grew cautious ahead of Friday’s second-quarter GDP report, expected to clock in at 3.0%. Leading the way lower were Tellabs and Baidu. Baidu shares plunged […]

Microsoft on Friday will release the iSCSI target technology it acquired from String Bean Software earlier this year. The iSCSI Software Target Application Pack will be available through Windows Storage Server 2003 R2 original equipment manufacturers (OEMs). Microsoft said the IP SAN software “provides the functionality to centralize, consolidate and easily manage storage in a […]

A day full of “dojis,” or indecision candlesticks today. The battle lines look clearest on the Nasdaq (first chart below), which put in a big “outside day” today that eclipsed yesterday’s range — watch 2050 and 2090 for a break there. The S&P (second chart) has support at 1266 and 1260, and resistance at 1275 […]

Investors looking for direction received little from the stock market on Wednesday, as stocks traded lower and higher, only to finish back where they started. Technology earnings reports were mixed. Sun gained 4% on its first earnings report under new CEO Jonathan Schwartz, and IDT , RF Micro , Lattice Semi , Manhattan Associates , […]

Sun’s first earnings report under new CEO Jonathan Schwartz was a winner, but investors had quite the opposite reaction to Amazon’s quarterly results. Sun shares climbed 1% in late trading after the company beat estimates on both the top and bottom line. Earnings — after removing restructuring and other charges — of 4 cents a […]

The best hope for a continued bounce can be found in the Dow and S&P (first two charts below), which are trying to put in a second leg up to their June rallies. If that’s the case, the Dow could test the 11,250 level, while the S&P could reach 1287. The Dow has support at […]

A Citigroup upgrade of Dell and a couple of blockbuster mergers got the week off to a rousing start on Wall Street. Citigroup upped its rating on Dell from “neutral” to “buy,” expressing optimism that the company’s disappointing earnings announced on Friday can be straightened out quickly by raising prices. AMD , meanwhile, gave the […]

The Nasdaq (first chart below) is once again testing the 2000 level; if that goes, 1850-1900 could be next. On the plus side, the index didn’t set a new intraday low today. To the upside, 2050 is first resistance, with 2065 and 2090-2100 above that. The Dow (second chart) has support at 10,800 and 10,700, […]

Dell overshadowed stellar results from Microsoft Friday with yet another profit warning. The news, which hit about two hours before the market opened Friday morning, turned stock futures from green to red, sending the major indexes to another losing day and the Nasdaq to its lowest close in 14 months. Dell shares hit their lowest […]

IBM on Friday announced plans to make its continuous data protection (CDP) software available through online retailers. The move will give CDP technology exposure to a broader market. IBM’s agreement with Digital River will make Tivoli Continuous Data Protection for Files available for online purchase and download through the Digital River oneNetwork marketplace, which includes […]