Dow Surpasses Historic 14,000 Mark

The Dow briefly ran above the historic 14,000 mark this morning
before pulling back. Currently, all the major indices are higher
with the Nasdaq leading with a gain of 0.4%.

Crude oil futures for August delivery rose
1.2% to $75.01 a barrel on speculation that refiners will increase
demand to bolster gasoline production .  Gold
futures for August delivery were unchanged at $666.70 an ounce.


Around
Asia, Shanghai’s Composite index
rose 2% to 3,896.19, Hong Kong’s Hang Seng added 0.5% to
23,057.30, and Tokyo’s Nikkei lost 0.1% to 18,217.27.

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Stocks in Motion

News Corp.
(
NWS |
Quote |
Chart |
News |
PowerRating)
Reaches Tentative Agreement To
Purchase Dow Jones & Co.
(
DJ |
Quote |
Chart |
News |
PowerRating)
.  NWS shares rose 2.75%, while DJ
shares fell 0.6%.

Privately Held Basell Agrees To Buy Lyondell
(
LYO |
Quote |
Chart |
News |
PowerRating)

For $48 A Share; Shares Up 17% (full
story
). LYO shares jumped 16.5%.

Global Sales Push Johnson & Johnson
(
JNJ |
Quote |
Chart |
News |
PowerRating)
Q2 Profit Up 9%, Backs
FY07 EPS Target (full
story
). JNJ shares lost 2%.

Merrill Lynch
(
MER |
Quote |
Chart |
News |
PowerRating)
Q2 Profit Rises On Investment Banking
Activity, Trading Revenues (full
story
). MER shares fell 0.7%.

Novellus Systems
(
NVLS |
Quote |
Chart |
News |
PowerRating)
Q2 Profit Increases 8.8%, EPS Tops
Consensus (full
story
). NVLS shares jumped 9.8%.

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

 


Market Snapshot

Dow

+41.38 13,992.36

NASDAQ

+10.89 2,708.22

S&P 500

+2.86 1,552.31

 

NYSE NASDAQ

Volume

1,205,291,000 859,682,000

Advances

1670 1623

Declines

1382 1275

Up Volume

582 503

Down Volume

478 281

New Highs

179 151

New Lows

83 71


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors

S&P Chemicals Index (CEX) North American Telecom Index (XTC)
Disk Drive Index (DDX) S&P Healthcare Index (HCX)
Nasdaq Computer Index (IXCOX) S&P Insurance Index (IUX)


 


Economic
News

PPI m/m -0.2% vs +0.2% consensus,
prior +0.9%

Core PPI m/m +0.3% vs +0.2% consensus, prior +0.2%

Core PPI y/y +1.8% vs +1.7% consensus, prior +1.6%

PPI y/y +3.3% vs +3.6% consensus, prior +4.1%

Darren Wong

Associate Editor

darrenw@tradingmarkets.com