Investors were given a batch of somewhat disappointing economic data today. This morning stocks were rising after Chevron reported better than expected second quarter profits, but those gains quickly turned south over news on GDP and consumer sentiment. This morning the Commerce Department reported that gross domestic product expanded by an annual rate of 2.4% in the second quarter, down from a rise by 3.7% in the first quarter; analysts were expecting the economy to have grown by 2.5%. Today’s news was disappointing because everyone was hoping to see the economy expand at a faster pace. This quarter’s results weren’t completely disappointing being that is was the fourth straight quarter of growth. Reuters-University of Michigan Consumer Sentiment index fell to 67.8 in July from 76 the month before, this is the lowest reading in the last nine months. With just two hours left in the trading week, the Dow was down over 50 points, but recuperated all but 24 points with one hour to go. At the end of the trading session, the Dow was down 30 points, the Nasdaq Composite index was down 12 point, and Standard & Poor’s 500 index fell 4 points. Commodity prices rose; gold was unchanged at $1,160.40 and crude oil rose $0.59 to $78.95 per barrel.

Free Daily Stock Picks activity and results for July 30, 2010:

WYNN - Stop hit for a loss of 1.00 point
FSLR-PM - Stop hit for a loss of 1.00 point
AXL - 3rd Target Level hit for a gain of 0.56 points
NWL - EOD price hit for a loss of 0.1 points
THOR-PM - 1st Target Level hit for a gain of 0.54 points
CSTR - Stop hit for a loss of 1.00 point

Total: 6 positions; -1.91 points; -$191 (based on 100 shares)
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Stocks Day Trading Picks results:
Total: 12 positions; +2.94 points; +$294 (based on 100 shares)

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Forex Day Trading Picks results:
Total: 7 positions; +$590 (based on 1 contract)


Futures Day Trading Picks results:
Total: 3 positions; +$1393.74 (based on 1 standard lot)