Crude Tops $66 Per Barrel

  • March 29, 2007
  • Darren Wong

GDP data came in better than expected providing an
early morning rally, but rising crude helped to temper the upward
move.  The Dow and S&P added 0.4% and the Nasdaq closed
fractionally higher.

May Crude futures added 3.1% to
$66.09 per barrel as supply concerns grow in Iran dispute.  Gold futures,
however, moved lower by 0.8% to close at $667.60 an ounce.

Around Europe, the U.K.’s FTSE 100
index gained 0.91% to 6,324.20, Germany’s DAX index rose 1.15%
higher to 6,895.27, and France’s CAC index gained 1.42% to close
at 5,131.53.



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Stocks in
Motion

U.S. Steel
(
X |
Quote |
Chart |
News |
PowerRating) To Acquire Lone Star For $2.1 Bln In Cash
(full
story).  X shares gained 3.7%, while LSS shares soared by 36%.

Wet Seal
(
WTSLA |
Quote |
Chart |
News |
PowerRating) Q4 Loss Widens On Higher Charges;
Adj. Profit Rises 18%; Comps Up 3.1%; Guides Q1; Authorizes 4 Mln Share Buy Back
(full
story).  WTSLA shares rose by 2.2%.

H&R Block
(
HRB |
Quote |
Chart |
News |
PowerRating) Serves 3.3% More Clients In Tax
Season So Far (full
story).  HRB shares lost 1.2% in today’s session.

CarMax
(
KMX |
Quote |
Chart |
News |
PowerRating) Q4 Profit Up 15% As Sales Rise 16%;
Provides FY08 Outlook (full
story).  KMX shares dropped nearly 9%.

Nabors Industries
(
NBR |
Quote |
Chart |
News |
PowerRating) Warns Q1 Earnings To Be
Below Street View (full
story).  NBR shares lost 1.6%.

Paychex
(
PAYX |
Quote |
Chart |
News |
PowerRating) Q3 Earnings Rise; Match Estimate,
Ex-item; Backs FY07 Views (full
story).  PAYX shares fell by 2%.

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

Market Snapshot

Dow

 +48.39 12,348.75

NASDAQ

 +0.78 2,417.88

S&P 500

 +5.30 1,422.53

 

 NYSE NASDAQ

Volume

 2,867,912,000 1,925,121,000

Advances

 1987 1469

Declines

 1269 1501

Up Volume

 1627 774

Down Volume

 1056 1037

New Highs

 148 88

New Lows

 25 72



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
North American Telecoms Index (XTC) Amex Disk Drive Index (DDX)
Deutsche Bank Energy Index (DXE) GSTI Semiconductor Index (GSM)
PHLX / KBW Bank Sector Index (BKX) Morgan Stanley Healthcare Payors Index (HMO)


Economic
News

Help Wanted Index 31 vs 31
consensus

Initial Claims 308K vs 320K consensus

GDP- final +2.5% vs 2.2% consensus

Chain Deflator-final +1.7% vs +1.7% consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com