Dow Closes Above 13,200; U.S. Factory Data Boosts Markets

  • May 2, 2007
  • Darren Wong

Bulls pushed the Dow above 13,200 today for another
record close.  26 of the 30 Dow stocks made gains in today’s
session.  General Motors
(
GM |
Quote |
Chart |
News |
PowerRating) and Verizon
(
VZ |
Quote |
Chart |
News |
PowerRating)
added 3.2% and 2.7% to lead the blue-chip index.

June crude futures closed lower
by 1.1% to $63.68 per barrel after the Energy Department’s weekly
inventory report showed an increase in fuel output by refiners. 
June gold futures fell 0.3% to $675.10 an ounce.

Around Europe, Britain’s FTSE 100
Index added 1% to finish at 6,484.50, Germany’s DAX Index gained
0.6% to 7,455.93, and France’s CAC 40 rose 0.5% to 5,990.13.

Today‘s

PowerRatings Heat Map is starting to become more bullish across many
sectors.  The sector with the highest amount of high PowerRatings stocks is
the Metals and Mining sector.


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

IntercontinentalExchange
(
ICE |
Quote |
Chart |
News |
PowerRating) Q1 Profit More Than
Doubles, EPS Tops Consensus, Revenue Soars (full
story).  ICE shares added 3.5%.

Sprint Nextel
(
S |
Quote |
Chart |
News |
PowerRating) Slides To Loss In Q1 On Higher
Investments, Subscriber Losses; Reiterates FY07 Outlook (full
story).  S shares rose 2.6%.

MasterCard
(
MA |
Quote |
Chart |
News |
PowerRating) Q1 Profit Surges 70% On Strong
Transactions Number (full
story).  MA shares jumped by 10%.

Charges Drag Down Domino’s Pizza
(
DPZ |
Quote |
Chart |
News |
PowerRating) Q1 Profit 68%,
Adj. EPS Declines On Weaker Revenues (full
story).  DPZ shares lost 1.6%.

Biogen Idec
(
BIIB |
Quote |
Chart |
News |
PowerRating) Q1 Profit Up On Higher Drug
Sales; Misses Street View; Backs 2007 Forecast (full
story).  BIIB shares added 1%.

Nortel
(
NT |
Quote |
Chart |
News |
PowerRating) Boosts Q1 Revenue Outlook, Maintains
FY07 Revenue Forecast; Appoints David Drinkwater As Interim CFO (full
story).  NT shares rose 8%.

Yum! Brands
(
YUM |
Quote |
Chart |
News |
PowerRating) Q1 Earnings Rise, Top Estimates;
Boosts FY07 Earnings (full
story).  YUM shares added 6.4%.

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

Market Snapshot

Dow

 +75.74 13,211.88

NASDAQ

 +26.31 2,557.84

S&P 500

 +9.62 1,495.92

 

 NYSE NASDAQ

Volume

 3,114,204,000 2,085,074,000

Advances

 2393 2083

Declines

 862 978

Up Volume

 2362 1622

Down Volume

 558 387

New Highs

 232 170

New Lows

 18 52


   



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Morgan Stanley Healthcare Payors Index (HMO) Morgan Stanley Healthcare Products Index (RXP)
GSTI Multimedia Networking Index (GIP) S&P Banking Index (BIX)
Nasdaq Telecom Index (IXTCX) Morgan Stanley Healthcare Providers Index (RXH)


Economic
News

The EIA’s weekly
crude inventory report showed a build of 1.17 million barrels.

Factory Orders 3.1% vs 2.1% consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com