Go Finance Reporting in NEW YORK - The stock market is the United States (U.S.) seem to be rallying thin because investors wait and see. This is due to the financial performance of the technology sector is positive, but on the other side of JPMorgan Chase looks weighing on the market.
Network equipment maker DAS Technology Inc. to encourage the industrial sector rose and the Nasdaq moved successfully make a positive. Its share price up 12.4 percent to USD34, 74. "The season first quarter financial report is like guessing game," said chief investment officer of Baker Avenue Asset Management, King Lip, told Reuters in San Francisco.
Previously, revenue competitors DAS, F5 appears showing weakness. "Some analysts think a lot of companies such as watershed will decrease earnings. That's why you see the strong reaction of their stock today," he explained.
While the stock price itself F5 Networks Inc. rose 3.1 percent to USD96, 70. JPMorgan Chase & Co. fell 0.8 percent to USD46, 25 after earlier rising more than one percent.
Issuers are listed earnings above expectations. But enthusiasm diminished after the chief executive said it will not increase the dividend. "Most people think that JPMorgan did fine. It has taken into account," said Lip.
In late trading Wednesday (04/13/2011) local time, the Dow Jones Industrial rose 7.41 points, or 0.06 percent, to 12270.99. The broader Standard & Poor's 500 up 0.25 points, or 0.02 percent, to 1,314.41. And the Nasdaq Composite Index rose 16.73 points, or 0.61 percent, to 2761.52. (GoFinance)
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