Midday Markets RealAudio Get FREE annual reports Markets are settling at midday. Eight of the 14 sub-sectors are trading higher. The Dow is down 47.76 points at 10,903.48, while the Nasdaq is down 9.87 points at 2,181.66. The CDNX is up 20.45 points at 3,146.97. Looks like the bears are taking the upper-hand at midday.
Consolidation seems to be the order of the day.
A call from U.S. broker Lehman Brothers that advised its clients to sell some positions which gained handsomely in the past month may be contributing to this latest consolidation albeit a small one. But the big question now is how Cisco s earnings and guidance will fit into the current mark-up of the overall market since it s last guidance. These meetings have had tendencies to shake the markets a tad kind of like WWF s annual Wrestlemania event. Every year there are rumours that this would be IBM s CEO and President Louis Gerstner s last year at the helm. Well, it seems that this year could be the year that Gerstner calls it quits after several successful campaigns.