Stocks Extend Gains for Third Straight Day

  • June 15, 2007
  • Darren Wong

U.S. stocks continued to run higher on Friday after the Consumer
Price Index
came in lower than economist’s had expected. The Nasdaq led the
major indices today with a gain of 1%.

Crude oil futures for July delivery closed up
0.6% to $68.05 per barrel. Gold futures for August delivery rose
0.4% to $658.70 an ounce. 


Around Europe, Germany’s DAX Index added 2.3% to 8,030.64,
France’s CAC 40 Index rose 1% to 6,105.28, and Britain’s FTSE 100
Index gained 1.2% to 6,732.40.



Today’s

PowerRatings Heat Map is starting to show price action that has led to lower
prices in the short term.  The most weakness can be seen in
the Drug and Energy sectors. 

Click here to view all 33 Heat Map sectors.   


Each day we will be giving readers full access to
one of our historically backed indicator lists.
Click here to
view our 5+ Consecutive Down Days List. Historically proven edges make
these lists a great place to start your trading day. 



Stocks in
Motion

Penn National Gaming
(
PENN |
Quote |
Chart |
News |
PowerRating) Agrees To Be Acquired By Fortress
Investment
(
FIG |
Quote |
Chart |
News |
PowerRating), Centerbridge Partners For $8.9 Bln Cash; Stock Soars (full
story). PENN shares rose by 21.5%, while FIG shares fell 6.5%.

GM
(
GM |
Quote |
Chart |
News |
PowerRating) Steps Up Efforts To Produce Fuel Cell Vehicles; To Move
More Than 500 Fuel Cell Experts To Core Engineering (full
story). GM shares rose by 3.2%.

Monsanto
(
MON |
Quote |
Chart |
News |
PowerRating) Guides Q3; Lifts FY07 EPS Outlook Above Street View
(full
story). MON shares gained 2.5%.

Winnebago Industries
(
WGO |
Quote |
Chart |
News |
PowerRating) Q3 Profit Falls On Higher Costs; EPS
Misses Estimate; Revenue Up 5% (full
story). WGO shares lost 2%.

Adobe
(
ADBE |
Quote |
Chart |
News |
PowerRating) Q2 Earnings Rise, Top Estimate; Guides Q3 In Line (full
story). ADBE shares fell 2.75%.

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


Market Snapshot

Dow

 +85.76 13,639.48

NASDAQ

 +27.30 2,626.71

S&P 500

 +9.94 1,532.91

 

 NYSE NASDAQ

Volume

 3,335,307,000 2,386,928,000

Advances

 2551 2031

Declines

 713 976

Up Volume

 2258 1604

Down Volume

 616 581

New Highs

 356 218

New Lows

 43 50


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
S&P Chemicals Index (CEX) S&P Insurance Index (IUX)
GSTI Semiconductor Index (GSM) Amex Airline Index (XAL)
Amex Oil Index (XOI) North American Telecom Index (XTC)


 


Economic
News

Michigan Sentiment-prelim 83.7 vs
88.0 consensus

Industrial Production unchanged vs +0.2% consensus

Capacity Utilization 81.3% vs 81.6% consensus

Core CPI m/m +0.1% vs +0.2% consensus

NY Empire State Index 25.8 vs 12.0 consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com