Dow Has Biggest One Day Gain Since 2002

  • July 12, 2007
  • Darren Wong

Stocks surged to new record territory on retail sales data as well
as Rio Tinto’s $38.1 billion bid for Alcan. The major indices all
finished at multi-year high levels as investors cheered positive
consumer spending trends and retailers’ June sales reports. 

Crude oil futures for August delivery fell
fractionally to $72.50 a barrel.  Gold
futures for August delivery added 0.9% to $668.30 an ounce.


Around Europe, Germany’s DAX index rose 2% to 8,053.43, France’s
CAC 40 index rose 1.7% to 6,103.05, and Britain’s FTSE 100 gained
1.3% to 6,697.70.

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Stocks in
Motion

Rio Tinto
(
RTP |
Quote |
Chart |
News |
PowerRating) Bids $38.1 Billion for Alcan
(
AL |
Quote |
Chart |
News |
PowerRating).
RTP shares fell 2%, while AL shares jumped 10%.

Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating) June
Comp. Up 2.4% Excl. Fuel; Total Sales Rise 9.4%; Backs Q2 EPS From Cont. Ops
View (full
story). WMT shares rose 2.5%.

Motorola
(
MOT |
Quote |
Chart |
News |
PowerRating) Cuts Q2 Sales Forecast; Sees Loss (full
story). MOT shares added 0.6%.

Genentech
(
DNA |
Quote |
Chart |
News |
PowerRating) Q2 Profit Rises 41% On Strong Sales Of Cancer
Drugs; EPS, Revenue Top Estimate; Boosts FY07 EPS Growth Outlook (full
story). DNA shares lost 0.9%.

Yum! Brands
(
YUM |
Quote |
Chart |
News |
PowerRating) Q2 Earnings Rise, Top Estimate; Boosts FY07 EPS
Outlook (full
story). YUM shares fell 0.5%.

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

 


Market Snapshot

Dow

 +283.86 13,861.73

NASDAQ

 +49.94 2,701.73

S&P 500

 +28.94 1,547.70

 

 NYSE NASDAQ

Volume

 3,398,287,000 2,137,276,000

Advances

 2323 2162

Declines

 939 909

Up Volume

 2551 1664

Down Volume

 496 323

New Highs

 314 247

New Lows

 85 74


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
S&P Retail Index (RLX) North American Telecom Index (HWI)
Networking Index (NWX) Gold Bugs Index (HUI)
Nasdaq Other Finance Index (OFINX) Natural Gas

Index (XNG)


 


Economic
News

Trade Balance -$60.0 bln vs -$60.0
bln consensus, prior -$58.5 bln

Initial Claims 308K vs 315K consensus

U.S. June budget surplus $27.48 bln (consensus $30 bln) vs. $20.52
surplus in June 2006

Darren Wong

Associate Editor

darrenw@tradingmarkets.com