Dow erases earlier declines. Trades positive. S&P and NASDAQ lag

Cisco and American Express lead the recovery

The Dow industrial average has erased earlier declines that's all the major index fall over 400 points at its session lows. It currently trades positive on the day. The move higher has been led by Cisco which currently trades up 5.6%(they announced earnings yesterday). American Express is also rebounding today with a gain of 5.21%.

The S&P index and NASDAQ index lag. The S&P index is currently down -6.8 points or -0.24% at 2813.21. The NASDAQ index is down -41 points or -0.47% at 8821.37.

Technically, the S&P index is trying to extend and stay back above its 200 hour moving average at 2812.74. The high price did reach 2818.59.