Dow Nears the 13,000 Mark
Stocks surged on strong earnings reports and the Dow closed near the 13,000 milestone. Caterpillar
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PowerRating) and Honeywell
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PowerRating) led blue-chip index higher each with gains of 4%.
May Crude futures, which closed today added $1.69 to finish at $63.52 per barrel. June crude gained $0.78 to $64.13 per barrel. June gold futures rose $7.50 an ounce to finish the week at $695.80.
Around Europe, France’s CAC 40 added 1.9% to close at 5,938.90, Germany’s DAX Index gained 1.4% to 7,342.54, and Britain’s FTSE 100 rose 0.7% to 6,486.80.
Our PowerRatings Heat Maps* from Thursday’s close is starting to show strength in the Energy and Drug Sectors. Some of the top PowerRatings stocks from the Energy sector include B&C International Well Control
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PowerRating) and Grant Prideco Inc.
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PowerRating), which gained 3.25% and 2% respectively. Click here for a free trial to our PowerRatings Heat Maps.
Stocks in Motion
Caterpillar
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PowerRating) Q1 Profit Declines; EPS Increases; Raises FY07 Outlook (full story). CAT shares added 4.3%.
Strong Top Line Growth Boosts Schlumberger
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PowerRating) Q1 Profit Up 63%; EPS, Revenues Top Street View (full story). SLB shares gained 1.25%.
AMD
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PowerRating) Posts Steeper Loss On Margin Squeeze (full story). AMD shares lost 1.4%.
McDonald’s
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PowerRating) Q1 Profit Rises 22%, EPS Matches Street View; Revenue Up 11%; Strikes $700 Mln Franchisee Deal (full story). MCD shares dropped 0.5%.
Honeywell
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PowerRating) Q1 Profit Rises, Tops Consensus; Gives Q2 View; Lifts FY07 Outlook (full story). HON shares rose by 4.2%.
American Express
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PowerRating) Q1 Profit Rises On Higher Revenues, Cost Control (full story). AXP shares added 3.5%.
For more stories as they happen, go to our Breaking News section.
Market Snapshot
Dow
+153.35
12,961.98
NASDAQ
+21.04
2,526.39
S&P 500
+13.62
1,484.35
NYSE
NASDAQ
Volume
3,289,742,000
2,088,388,000
Advances
2,456
2031
Declines
771
985
Up Volume
2334
1427
Down Volume
731
565
New Highs
343
166
New Lows
13
52
Strongest/Weakest Sectors
Strongest Sectors
Weakest Sectors
CBOE Oil Index (OIX)
GSTI Semiconductor Index (GSM)
Amex Oil Index (XOI)
GSTI Multimedia Networking Index (GIP)
Deutsche Bank Index (DXE)
Amex Disk Drive Index (DDX)
Economic News
No economic reports released today.
Darren Wong
Associate Editor
darrenw@tradingmarkets.com