Intel and Yahoo Disappoint; Drag Markets Lower

  • July 18, 2007
  • Darren Wong

The major indices are seeing widespread selling after Intel and
Yahoo both disappointed on the earnings front and subprime worries
continue to plague investors. The Dow and S&P are lower by 0.7%,
while the Nasdaq is off by 1.1%.

Crude oil futures for August delivery rose
fractionally to $74.58 a barrel after the weekly Energy Department
report showed a decrease in crude oil inventories.  Gold
futures for August delivery rose 1% to $672.50 an ounce.


Around Asia, the Shanghai Composite rose 0.9% to 3,930.06, Hong
Kong’s Hang Seng fell 0.9% to 22,841.92, and Tokyo’s Nikkei fell
1.1% to 18,015.58.

TradingMarkets subscribers have access to
16 quantitative
stock indicators and another

17 quantitative market bias indicators. These indicators are derived from
our proprietary database that includes millions of trades, and designed to give
you a short-term trading edge.

Each day, we provide free open access to one of these proprietary stock
indicators. If you would like to access all 16 stock indicators, 17 market bias
indicators, along with many other tools, click here for a free
7-day TradingMarkets trial.



Stocks in Motion

Yahoo!
(
YHOO |
Quote |
Chart |
News |
PowerRating) Q2 Profit Slips 2.2% On Higher Operating
Costs, Sets Q3 Revenue Target, Slashes FY07 Revenue Forecast (full
story). YHOO shares fell 4.6%.

Strong Investment Banking Results Push JPMorgan Chase
(
JPM |
Quote |
Chart |
News |
PowerRating) Q2
Profit Up 20%, Concern On Home Loans Looms Large (full
story). JPM shares lost 3.7%.

Pfizer
(
PFE |
Quote |
Chart |
News |
PowerRating) Q2 Profit Falls 48%; Adj. EPS Misses Estimate;
Reaffirms FY07, ’08 View (full
story). PFE shares gave up 4%.

Altria Group
(
MO |
Quote |
Chart |
News |
PowerRating) Q2 Profit Declines 18% On Charges, Kraft Spin
Off; Lowers FY07 EPS Outlook (full
story). MO shares fell 1.5%.

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

 


Market Snapshot

Dow

 -92.91 13,878.64

NASDAQ

 -29.33 2,682.96

S&P 500

 -11.01 1,538.36

 

 NYSE NASDAQ

Volume

 1,516,039,000 952,371,000

Advances

 761 733

Declines

 2320 2173

Up Volume

 384 181

Down Volume

 971 698

New Highs

 76 76

New Lows

 134 136


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Deutsche Bank Energy Index (DXE) Nasdaq Other Finance Index (OFINX)
Natural Gas
Index (XNG)		 PHLX/KBW Bank
Sector Index (BKX)
Airline Index (XAL) S&P Banking Index (BIX)


 


Economic
News

Core CPI m/m +0.2% vs +0.2%
consensus, +0.1% prior

Core CPI y/y +2.2% vs +2.2% consensus, +2.2% prior

Housing Starts 1467 vs. 1450K consensus, prior revised to1434 K from
1474K

CPI m/m +0.2% vs +0.1% consensus, +0.7% prior

Building Permits 1406vs. 1480K consensus, prior revised to 1520K from
1501K -Update-

Darren Wong

Associate Editor

darrenw@tradingmarkets.com