Bulls Push Indices Higher

  • March 14, 2007
  • Darren Wong

U.S. stocks bounced back to close in
the green.  The bulls staged a strong recovery after the Dow
briefly went below 12,000.

The Nasdaq Composite led the major
averages in today’s session, gaining 0.9%.  Top gainers
included truck maker Paccar Inc.
(
PCAR |
Quote |
Chart |
News |
PowerRating) and Celgene

(
CELG |
Quote |
Chart |
News |
PowerRating), which booked gains of 4% and 3.6%.

Crude for April delivery rose
0.4% to $58.17 a barrel on the New York Mercantile Exchange, as
traders shrugged off an energy inventories report and looked ahead
to Thursday’s OPEC meeting.  Gold futures
closed lower for fourth straight session down 1.1% to $64250 an
ounce.

Around Europe, the U.K.’s
FTSE index slipped 2.61% to 6,000.70, while France’s CAC 40 index
fell 2.52% to 5,296.22 and Germany’s DAX index dropped 2.66% to
6,447.70.



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Stocks in
Motion

GM
(
GM |
Quote |
Chart |
News |
PowerRating) Turns To Profit In Q4 On Lower
Expenses; Revenues Ease Marginally (full
story).  GM shares close lower by nearly 1%.

Lehman Brothers
(
LEH |
Quote |
Chart |
News |
PowerRating) Q1 Profit Rises 6%
On Top Line Growth; EPS Beats Estimate By A Penny (full
story).  LEH shares fall by 0.4%.

Gymboree
(
GYMB |
Quote |
Chart |
News |
PowerRating) Posts Higher Q4
Profit, Sales Rise 18% (full
story).  GYMB shares gained 9%.

J. Crew
(
JCG |
Quote |
Chart |
News |
PowerRating) Swings To Q4 Profit (full
story).  JCG shares lost 2.7%.

Affymetrix
(
AFFX |
Quote |
Chart |
News |
PowerRating) Awarded $16.7 Mln
In Patent Infringement Suit (full
story).  AFFX shares jumped 6%.

Norsk Hydro
(
NHY |
Quote |
Chart |
News |
PowerRating) Buys 1.6 Mln Shares
Of Ascent Solar
(
ASTI |
Quote |
Chart |
News |
PowerRating) Through Private Placement (full
story).  NHY shares gained 2%, while ASTI shares soared by 89%.

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

Market Snapshot

Dow

 +57.44 12,133.40

NASDAQ

 +21.17 2,371.74

S&P 500

 +9.22 1,387.17

 

 NYSE NASDAQ

Volume

 3,757,528,000 2,252,155,000

Advances

 1942 1620

Declines

 1319 1409

Up Volume

 2412 1617

Down Volume

 1260 578

New Highs

 48 48

New Lows

 94 174



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Amex Networking Index (NWX) Amex Airline Index (XAL)
Nasdaq Telecommunication Index (IXTCX) Nasdaq Insurance Index (INSRX)
GSTI Multimedia Index (GIP) Morgan Stanley Healthcare Payors Index (HMO)


Economic
News

The E.I.A. reports that crude
oil inventories had a build of 1.18 mln barrels


Current Accounts -$195.8 bln vs -$203.5 bln consensus

Import prices ex-oil -0.1% , prior unchanged

Darren Wong

Associate Editor

darrenw@tradingmarkets.com