Dow and S&P Continue Move Higher; Nasdaq Slips

• May 7, 2007
• Darren Wong

The major indices finished mixed with the Dow and
S&P up 0.36% and 0.26% respectively, while the Nasdaq fell fractionally. 
Dow component Alcoa
(
AA |
Quote |
Chart |
News |
PowerRating) made a $26.9 billion bid for
rival aluminum producer Alcan
(
AL |
Quote |
Chart |
News |
PowerRating), which helped boost
investor enthusiasm in the Dow.

June crude futures closed lower
by 0.7% to $61.47 on speculation that U.S. gasoline refiners will
ramp up output ahead of the peak driving season. 
June gold futures rose 0.1% to $690.40. 

Around Europe, Germany’s DAX rose
0.12% to 7,525.69, France’s CAC 40 Index made fractional gains to
6,071.48, Britain’s FTSE was closed for a holiday.

Today‘s

PowerRatings Heat Map continues to display weakness across a wide range of
sectors.  These include Energy, Metals/Mining, Internet, and
Drugs. 

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

Alcoa ( AA | Quote | Chart | News | PowerRating) Bids $26.9 Billion for Rival Alcan Inc. ( AL | Quote | Chart | News | PowerRating).  AA shares gained 8.3%, while AL shares jumped 35%. Armour Holdings ( AH | Quote | Chart | News | PowerRating) Agrees To $4.1 Bln BAE Systems’ Buy Out Offer (full story).  AH shares added 5.3%. Liberty Mutual To Buy Ohio Casualty ( OCAS | Quote | Chart | News | PowerRating) For $2.7 Bln In Cash (full story).  OCAS shares soared 29.5%. Hansen Natural ( HANS | Quote | Chart | News | PowerRating) Q1 Gross Sales Rise 37.6%, Beats Consensus; Plans To File Form 10-Qs, 10-K Soon (full story).  HANS shares added 3.5%. Constellation Brands ( STZ | Quote | Chart | News | PowerRating) To Buyback 16.9 Mln Shares; Confirms FY08 EPS View (full story).  STZ shares rose 2.25%. For more stories as they happen, go to our Breaking News section.

Market Snapshot

Dow +48.35 13,312.97 NASDAQ -1.20 2,570.95 S&P 500 +3.87 1,509.49   NYSE NASDAQ Volume 2,448,011,000 1,634,387,000 Advances 1756 1405 Declines 1458 1646 Up Volume 1340 673 Down Volume 910 854 New Highs 299 165 New Lows 15 50

   

Strongest/Weakest Sectors

Strongest Sectors Weakest Sectors Nasdaq Insurance Index (INSRX) GSTI Internet Index (GIN) S&P Insurance Index (IUX) Dow Jones Internet Commerce Index (ECM) S&P Chemicals Index (CEX) CBOE Internet Index (INX)

Economic News

U.S March Consumer Credit +$13.46 bln vs +$4.5 bln consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com