Dow Sets Another Record High

  • May 16, 2007
  • Darren Wong

Strong gains were made across the board in today’s
session, despite more negative housing data.  The Dow edged
up 0.8%, while both the Nasdaq and S&P 500 rose 0.9%.  S&P
500 member Bausch and Lomb added nearly 10% after it agreed to be
bought out by a private equity firm.

Following today’s crude
inventory report that showed a build, June crude futures closed
down 1% to $62.55. 
June gold futures slid 1.9% to $661.50 an ounce after the US
dollar strengthened against the major currencies.

Around Europe, Britain’s FTSE 100
Index fell 0.1% to close at 6,559.50, Germany’s DAX lost 0.3% to
7,481.25, and France’s CAC 40 Index lost 0.5% to 6,017.91.

Today’s

PowerRatings Heat Map is starting to show bullish sectors after yesterday’s
session that pulled back from highs.  There are still several
sectors that contain many stocks with low PowerRatings. 
These include Transportation, Drugs, and Manufacturing. 


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

Bausch & Lomb
(
BOL |
Quote |
Chart |
News |
PowerRating) To Be Taken Private By Warburg
Pincus For $3.67 Bln (full
story).  BOL shares added 9.7%.

Deere
(
DE |
Quote |
Chart |
News |
PowerRating)
Q2 Profit Dips 16% On Absence Of Year-ago Gain; EPS From Cont. Ops. Rises 21%;
Guides Q3; Lifts FY07 View (full
story).  DE shares lost 1.8%.

Oracle
(
ORCL |
Quote |
Chart |
News |
PowerRating) To Buy Agile Software For $495 Mln;
Agile Sees Q4, FY07 Results Above Consensus (full
story).  ORCL shares added 0.8%, while AGIL shares jumped 12.7%.

Applied Materials
(
AMAT |
Quote |
Chart |
News |
PowerRating) Q2 Profit Tops Consensus,
Revenue Up 13% (full
story).  AMAT shares lost 3.2%.

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

Market Snapshot

Dow

 +103.69 13,487.53

NASDAQ

 +22.13 2,547.42

S&P 500

 +12.95 1,514.14

 

 NYSE NASDAQ

Volume

 2,796,166,000 2,049,729,000

Advances

 1979 1731

Declines

 1259 1301

Up Volume

 1791 1300

Down Volume

 774 648

New Highs

 163 114

New Lows

 36 117


   



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Dow Jones Internet Commerce Index (ECM) Dow Jones Equity REIT Index (DJR)
Amex Airline Index (XAL) Amex Gold Bugs Index (HUI)
CBOE Internet Index (INX) GSTI Semiconductor Index (GSM)


Economic
News

Industrial
Production +0.7% vs +0.3%, prior -0.2%

Capacity
Utilization 81.6% vs 81.5% consensus, prior 81.4%

Housing Starts 1528K vs 1480K consensus

Building Permits 1429K vs 1520K consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com