Stocks Lower on Chinese Selloff

U.S. stocks hold near the flatline this morning
despite an 8% drop in the Shanghai Composite last night. Bond
yields are approaching 5%, which challenges the appeal of stocks.

July crude futures are higher by 1.4% to $66.02 per barrel
after reports that supplies in Nigeria may be further disrupted. 
Gold
futures for August delivery are also higher this morning after the
Dollar continues to weaken against the Euro. Gold futures are higher by
0.3% to $678.70 an ounce.

Around Asia, Shanghai’s Composite
dropped 8.3% to close at 3,670.40, Hong Kong’s Hang Seng rose 0.6%
to 20,729.59, and Tokyo’s Nikkei finished fractionally higher to
17,973.42.

Today’s

PowerRatings Heat Map
is showing wide-spread bearishness across all market sectors.
Buying stocks at these lofty levels carries greater risk.
Click here for a free trial to see all
33 market sectors.



Click here
to see our new list of indicators that includes

Gaps Down 5% or More
,

2-Period RSI Below 2
,

Stocks Up 10% or More
.  Historically proven edges make
these a great place to start making a watch list.
 


Stocks in
Motion

Accredited
(
LEND |
Quote |
Chart |
News |
PowerRating)
Agrees To Be Acquired By Private
Equity Firm Lone Star For $400 Mln Cash (full
story
). LEND shares gain 11%.

Krispy Kreme
(
KKD |
Quote |
Chart |
News |
PowerRating)
Q1 Loss Widens On Costs;
Revenues Decline 7% (full
story
). KKD shares fall by 5.5%.

Atlas Pipeline
(
APL |
Quote |
Chart |
News |
PowerRating)
To Buy Anadarko’s
(
APC |
Quote |
Chart |
News |
PowerRating)

Interests In Oklahoma And Texas Gas Gathering And Processing Systems For $1.85
Bln (full
story
). APL shares rise 7%, while APC shares add 3.7%.

Flextronics
(
FLEX |
Quote |
Chart |
News |
PowerRating)
To Buy Solectron
(
SLR |
Quote |
Chart |
News |
PowerRating)

In $3.6 Bln Cash And Stock Deal (full
story
). FLEX shares lose 1.3%, while SLR shares jump 14.5%.

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

Market Snapshot

Dow

-25.60 13,642.51

NASDAQ

-2.35 2,611.57

S&P 500

-0.62 1,535.78

 

NYSE NASDAQ

Volume

645,194,000 796,406,000

Advances

1494 1320

Declines

1477 1582

Up Volume

271 349

Down Volume

227 341

New Highs

202 150

New Lows

17 27


   



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors

Deutsche Bank Energy Index (DXE) Nasdaq Transportation Index (TRANX)
Amex Oil Index (XOI) Amex Pharmaceutical Index (DRG)
CBOE Oil Index (OIX) Amex Securities Broker/Dealer Index (XBD)


Economic
News

Factory Orders
+0.3% vs +0.6% consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com