Markets Rally Prior to Fed Decision

  • June 27, 2007
  • Darren Wong

Stocks rallied on Wednesday despite a weaker-than-expected durable
goods report this morning. The markets received a boost from
takeover deals and positive earnings from Nike and Oracle.

Crude oil futures for July delivery added 1.8% to $68.97 per barrel.  Gold
futures for August delivery fell fractionally to close at
$644.80 an ounce.


Around Europe, Germany’s DAX index fell 0.75% to 7,801.23,
France’s CAC index lost 0.6% to 4,572.91, and Britain’s FTSE 100
index fell 0.5% to 6,527.60.

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Stocks in
Motion

Guitar Center To Be Acquired By Bain Capital For $2.1 Bln, Incl.
Assumed Debt (full
story). GTRC shares jumped 20%.

Nike Q4 Profit Jumps On Demand For Shoes, Apparels (full
story). NKE shares added 8%.

Oracle Q4 Earnings Rise, Top Estimate (full
story). ORCL shares rose 3%.

ConAgra Foods Q4 Profit More Than Triples; Guides FY08 (full
story). CAG shares added 1.25%.

H.B. Fuller Q2 Profit Surges 40%; Now Sees FY07 EPS At High End Of Prior View
(full
story). FUL shares jumped 12%.

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


Market Snapshot

Dow

 +90.07 13,427.73

NASDAQ

 +31.19 2,605.35

S&P 500

 +13.46 1,506.35

 

 NYSE NASDAQ

Volume

 3,248,858,000 1,990,296,000

Advances

 2382 2046

Declines

 858 969

Up Volume

 2326 1565

Down Volume

 633 291

New Highs

 50 110

New Lows

 141 96


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Securities Broker/Dealer Index (XBD) S&P Insurance Index (IUX)
Disk Drive Index (DDX) S&P Banking Index (BIX)
Nasdaq Computer Index (IXCOX) Dow Jones Internet Commerce Index (ECM)


 


Economic
News

Durable Goods -2.8% vs -1.0%
consensus

The EIA’s weekly crude inventories report showed a build of 1.5
million barrels.

Darren Wong

Associate Editor

darrenw@tradingmarkets.com