Dow and S&P Set New Record Highs

  • June 1, 2007
  • Brice Wightman

Stocks remained upbeat through Friday’s session
with the Dow and S&P indices hitting new records today. 
Investors cheered reports that showed an increase in job numbers
and manufacturing data.

June crude futures gained 1.7% to $65.08 per barrel. Gold
futures for August delivery closed higher by 1.5% to $676.90 an ounce.

Around Europe, Germany’s DAX Index
rose 1.33% to 7,987.85, France’s CAC 40 Index added 1.05% to
6,168.15, and Britain’s FTSE 100 Index gained 0.8% to 6,676.70.

Today’s

PowerRatings Heat Map is showing bearishness across all market sectors.
Buying stocks at these lofty levels carries greater risk.
Click here for a free trial to see all
33 market sectors.



Click here to see our new list of indicators that includes

Gaps Down 5% or More,

2-Period RSI Below 2,

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Stocks in
Motion

Dow Jones
(
DJ |
Quote |
Chart |
News |
PowerRating) To Consider Buyout Offer
(full
story). DJ shares jumped 14.6%.

Wal-Mart Stores
(
WMT |
Quote |
Chart |
News |
PowerRating) To Moderate
Growth Of U.S. Supercenters; Reveals Additional Share Repurchase Program (full
story).  WMT shares rose by 4%.

Ford Motor
(
F |
Quote |
Chart |
News |
PowerRating) May Sales Decline 6.8%;
Retail Sales Down 3% (full
story). F shares traded fractionally higher.

Dell
(
DELL |
Quote |
Chart |
News |
PowerRating) Q1 Profit Falls, EPS Tops Consensus,
Revenue Up 3%; Plans 10% Job Cut, Shares Rise (full
story). DELL shares rose by 1.5%.

J. Crew Group
(
JCG |
Quote |
Chart |
News |
PowerRating) Q1 Profit Soars On Higher Sales
(full
story). JCG shares added 11.5%.

Activision
(
ATVI |
Quote |
Chart |
News |
PowerRating) Q4 Loss Widens; Revenues Up 66%;
Sees Q1 EPS In Line With Consensus; Boosts FY08 Revenue Outlook (full
story). ATVI shares dropped 2.5%.

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

Market Snapshot

Dow

 +40.47 13,668.11

NASDAQ

 +9.40 2,613.92

S&P 500

 +5.72 1,536.34

 

 NYSE NASDAQ

Volume

 2,842,521,000 1,856,571,000

Advances

 2085 1865

Declines

 1149 1161

Up Volume

 1749 1114

Down Volume

 711 648

New Highs

 383 245

New Lows

 36 46


   



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CBOE Oil Index (OIX) Amex Networking Index (NWX)


Economic
News

ISM Prices Paid
71.0 vs 73.0 Bloomberg consensus

Michigan
Sentiment-rev 88.3 vs 88.0 consensus, prior 88.7

ISM Index 55.0 vs 54.0 consensus

Pending Home Sales -3.2% vs +0.3% consensus

Average Hourly Earnings m/m +0.3% vs +0.3% consensus

Average Weekly Hours 33.9 vs 33.8 consensus

Unemployment Rate 4.5% vs 4.5% consensus

Personal Spending +0.5% vs +0.4% consensus

Personal Income -0.1% vs +0.3% consensus

Nonfarm Payrolls 157K vs 132K consensus, revised to 80K,
88K prior

Darren Wong

Associate Editor

darrenw@tradingmarkets.com