Investors Cautious after Last Week’s Selloff

  • June 11, 2007
  • Darren Wong

Stocks fluctuated around the unchanged mark on
Monday morning.  Investors are unsure about market conditions
after last week’s selloff, high bond yields, and crude that is
rising in early trading.

July crude futures added 0.5% to $65.06 per barrel
after Saudi Arabia curbs shipments to Asian refiners. Gold
futures for August delivery rose 0.9% to $656.30 an ounce.

Around Asia, Shanghai’s Composite rose
2.1% to close at 3,995.68, Hong Kong’s Hang Seng Index added 0.5%
to 20,615.49, and Tokyo’s Nikkei Index rose 0.3% to 17,834.48.


After last week’s market selloff today’s

PowerRatings Heat Map is starting to show a few bullish sectors. The leading
sector is Drugs.

Click here to view all 33 Heat Map sectors.   



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

CNX Gas To Acquire Coalbed Methane, Gas Interests From Peabody
Energy (full
story). CXG shares are up 0.4%, while BTU shares fall 1%.

Telelogic Receives SEK 5.2 Bln Takeover Bid From IBM (full
story). IBM shares add 0.6%.

Emcor Lifts FY07 Forecast On Demands For Its Patterns, Reveals
Stock Split (full
story). EME shares jump nearly 8%.

Pacific Sunwear Eliminates COO Post; Former COO Wendy Burden
Resigns To Pursue Other Interests (full
story). PSUN shares lose 1.4%.

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

Market Snapshot

Dow

 +14.87 13,439.26

NASDAQ

 +3.50 2,577.04

S&P 500

 +3.03 1,510.70

 

 NYSE NASDAQ

Volume

 948,135,000 617,750,000

Advances

 1310 1283

Declines

 1736 1571

Up Volume

 338 266

Down Volume

 376 276

New Highs

 37 76

New Lows

 52 43



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Amex Pharmaceutical Index (DRG) GSTI Internet Index (GIN)
Amex Natural Gas Index (XNG) Dow Jones Internet
CommerceIndex (ECM)
Amex Gold Bugs Index (HUI) Dow Jones Equity REIT Index (DJR)

 


Economic
News

No economic reports
released today.

Darren Wong

Associate Editor

darrenw@tradingmarkets.com