Market Rally Continues

  • March 23, 2007
  • Darren Wong

The major indices finished a mixed day
of trading with a late day surge to close in the green.  The
Dow finished the week up 3.1%, led today by General Motors

(
GM |
Quote |
Chart |
News |
PowerRating) and McDonald’s
(
MCD |
Quote |
Chart |
News |
PowerRating), closing higher by 4.4%
and 1.25% respectively.

May Crude futures closed the
session up $0.54 to $62.23 per barrel.  Gold futures for
April delivery finished lower by $6.90 to $657.30 an ounce.

The European markets rose on
Friday, boosted by takeover talks swirling through the auto,
utility and media sectors. 
The
U.K.’s FTSE 100 index rose 0.34% to 6,339.40, while France’s CAC
40 index climbed 0.65% to 5,634.75 and Germany’s DAX index surged
up 0.61% to 6,899.06.



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2-Period RSI Below 2,

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Stocks in
Motion

Genentech
(
DNA |
Quote |
Chart |
News |
PowerRating) Backs FY07 Earnings
Forecast, Sees Flat Sequential U.S. Product Sales; Shares Fall (full
story).  DNA shares fell by 3.5%.

Nike
(
NKE |
Quote |
Chart |
News |
PowerRating) Q3 Earnings Rise, Top
Estimates (full
story).  NKE shares gained 0.4%.

Freddie Mac
(
FRE |
Quote |
Chart |
News |
PowerRating) Dips To Loss In Q4;
Plans Repurchase Of Addl. $1 Bln Common Stock (full
story).  FRE shares gained 0.2%.

Avery Dennison
(
AVY |
Quote |
Chart |
News |
PowerRating) To Buy Paxar
(
PXR |
Quote |
Chart |
News |
PowerRating) For $1.34 Bln In Cash (full
story). AVY shares gain 1.3%, while PXR shares jumped 18%.

Oracle
(
ORCL |
Quote |
Chart |
News |
PowerRating) Files Suit Against
SAP
(
SAP |
Quote |
Chart |
News |
PowerRating) Alleging ‘Corporate Theft’ (full
story).  ORCL shares finished down 1.4%, while SAP shares lost 1.5%.

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

Market Snapshot

Dow

 +19.87 12,481.01

NASDAQ

 +4.44 2,456.18

S&P 500

 +1.57 1,436.11

 

 NYSE NASDAQ

Volume

 2,603,924,000 1,628,881,000

Advances

 1845 1605

Declines

 1357 1411

Up Volume

 1439 767

Down Volume

 948 796

New Highs

 186 136

New Lows

 13 31



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Amex Disk Drive Index (DDX) Amex Pharmaceuticals Index (DRG)
Amex Oil Index (XOI) Morgan Stanley High-Technology 35 Index (MSH)
Nasdaq Insurance Index (INSRX) Amex Airline Index (XAL)


Economic
News

Existing Home Sales 6.69 mln vs
6.30 mln consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com