Wall Street Searches for Direction

  • August 15, 2007
  • Darren Wong

Stocks spent the morning searching for direction after the Fed
added more money to the system and investors continue to
worry about inflation, consumer spending, and credit issues.

Sales of existing homes fell in 41 states between April and
June. Total sales were 5.91 million units at an annual rate in the
second quarter, an 11% drop from the second quarter of 2006.

Crude oil futures for September delivery
rose 1.4%  to $73.43 a barrel on concerns that a tropical
depression may threaten oil platforms in the Gulf of Mexico. Gold
futures for December delivery fell 0.7% to $664.72 an ounce on dollar strength.


Around Asia, Shanghai’s Composite closed flat at 4,869.88, Hong
Kong’s Hang Seng fell nearly 3% to 21,375.72, and Tokyo’s Nikkei
index lost 2.2% to 16,475.61.

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Stocks in Motion

Agilent
(
A |
Quote |
Chart |
News |
PowerRating) Q3 Profit Falls; Cuts Q4 Outlook (full
story). A shares fell 11%.

Applied Materials
(
AMAT |
Quote |
Chart |
News |
PowerRating) Q3 Profit Declines 7.4% (full
story). AMAT shares lost 3.5%.

Juniper Networks
(
JNPR |
Quote |
Chart |
News |
PowerRating) Names Robyn Denholm Chief Executive
Officer (full
story). JNPR shares dropped 3%.

For more stories as they happen, go to our
Breaking News section.


Market Snapshot

Dow

 -20.56 13,008.36

NASDAQ

 -1.83 2,497.29

S&P 500

 +1.05 1,427.59

NYSE NASDAQ

Volume

 1,134,201,000 874,322,000

Advances

 1393 1608

Declines

 1546 1268

Up Volume

 541 386

Down Volume

 460 407

New Highs

 3 32

New Lows

 161 128




Strongest/Weakest Industry Groups

Strongest Industries

Weakest Industries
Healthcare Credit
Services
Energy Telecom
Internet
Insurance Brokers



Economic
News

Net Foreign Purchases $120.9 bln vs
$63.0 bln consensus

NY Empire State Index 25.1 vs 19.0 consensus

CPI y/y +2.4% vs +2.4% consensus

Core CPI y/y +2.2% vs +2.2% consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com

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