CASH COW

[WANG]

good morning all~

daily market commentary
The Futures are pointing lower this morning after both the DJIA and Nasdaq sold off in yesterday’s trading session. The Dow closed at its lowest level since early February, while the Nasdaq is approaching year lows as well. The selling can be largely attributed to market jitters and a lack of any real fundamental forces to drive the market in Monday’s trading. With a quiet day for corporate earnings and no economic reports, traders were left to take their queue from corporate updates. Despite fairly upbeat news from Texas Instruments (TXN – NYSE), chip bellwether Intel (INTC – Nasdaq) led the tech lade Nasdaq south. Without any economic events in today’s session and more of the same in the corporate earnings calendar, today is shaping up to be another potentially choppy day.

Yesterday the Senate began its budget debate regarding the President’s 2005 plan which is facing opposition on both the Democrat and Republican side. More...