Markets Mixed Ahead of Fed Meeting

  • June 27, 2007
  • Darren Wong

Stocks were mixed in Wednesday morning trading. Tech shares
received a boost from positive Oracle earnings, but the Dow and
S&P were held back by a disappointing Durable Goods report.

Crude oil futures for July delivery fell
2% to $67.77 per barrel on forecasts that the weekly Energy Dept.
report will continue to show rising inventories.  Gold
futures for August delivery fell 1.4% to
$645.30 an ounce.


Around Asia, Shanghai’s Composite rose 2.7% to 4,078.60, Hong
Kong’s Hang Seng index lost 0.45% to 21,705.56, and Tokyo’s Nikkei
fell 1.2% to 17,849.28.

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Stocks in
Motion

Guitar Center To Be Acquired By Bain Capital For $2.1 Bln, Incl.
Assumed Debt (full
story). GTRC shares jumped 19%.

Nike Q4 Profit Jumps On Demand For Shoes, Apparels (full
story). NKE shares added 5.6%.

Oracle Q4 Earnings Rise, Top Estimate (full
story). ORCL shares rose 2%.

ConAgra Foods Q4 Profit More Than Triples; Guides FY08 (full
story). CAG shares added 3%.

H.B. Fuller Q2 Profit Surges 40%; Now Sees FY07 EPS At High End Of Prior View
(full
story). FUL shares jumped 10%.

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


Market Snapshot

Dow

 -26.83 13,310.83

NASDAQ

 +2.99 2,577.15

S&P 500

 -1.74 1,491.15

 

 NYSE NASDAQ

Volume

 1,313,353,000 794,879,000

Advances

 1564 1431

Declines

 1509 1423

Up Volume

 577 471

Down Volume

 574 247

New Highs

 23 64

New Lows

 126 80


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Pharmaceutical Index (DRG) S&P Insurance Index (IUX)
Disk Drive Index (DDX) S&P Banking Index (BIX)
Networking Index (NWX) Dow Jones Internet Commerce Index (ECM)


 


Economic
News

Durable Goods -2.8% vs -1.0%
consensus

The EIA’s weekly crude inventories report showed a build of 1.5
million barrels.

Darren Wong

Associate Editor

darrenw@tradingmarkets.com