Markets Rise Despite Weak Economic Data

  • April 12, 2007
  • Darren Wong

U.S. stocks rose as traders fought off mediocre
retail sales data and an increase in weekly jobless claims. 
The Nasdaq Composite led the major indices with a gain of 0.85%.

Crude futures for May delivery
rose $1.82 per barrel to $63.83.  A report released by the
International Energy Agency showed OPEC’s crude supplies are at a
two-year low. 
June gold futures fell by $2.10 to $679.60 an ounce.

Around Europe, the U.K’s FTSE 100 moved
fractionally higher to close at 6,416.40, France’s CAC 40 fell
fractionally to 5,748.94, and Germany’s DAX lost 0.1% to 7,142.95.



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Stocks in
Motion

Research In Motion
(
RIMM |
Quote |
Chart |
News |
PowerRating) Q4 Profit Surges, Revenue
Up 66%; Says SEC Upgrades Probe, Shares Fall (full
story).  RIMM shares dropped 8% in today’s session.

J. C. Penney
(
JCP |
Quote |
Chart |
News |
PowerRating) March Comp. Up 10.6%; Total Sales
Rise 10.7%; Guides April Comp. (full
story).  JCP shares rose 0.4%.

Genentech
(
DNA |
Quote |
Chart |
News |
PowerRating) Q1 Profit, Revenue Top Consensus;
Sees FY07 EPS Growth Of 25% – 30% (full
story).  DNA shares lost 1.3%.

MedImmune
(
MEDI |
Quote |
Chart |
News |
PowerRating) To Put Itself Up For Sale (full
story).  MEDI shares rose 15.6%.

Rite Aid
(
RAD |
Quote |
Chart |
News |
PowerRating) Q4 Profit Dips; Revenue Down 4.4%;
Expects To Close Brooks And Eckerd Acquisition By May End (full
story).  RAD shares added nearly 2%.

Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating) March Sales Rise 11.7%; Comps. Up
4%; Sees April Comps Of 0%- Down 2%, Gives Q1 EPS View (full
story).  WMT shares finished fractionally higher.

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

Market Snapshot

Dow

 +68.34 12,552.96

NASDAQ

 +21.01 2,480.32

S&P 500

 +8.93 1,447.80

 

 NYSE NASDAQ

Volume

 2,727,408,000 1,904,956,000

Advances

 2147 1942

Declines

 1118 1064

Up Volume

 1902 1381

Down Volume

 664 407

New Highs

 171 130

New Lows

 31 66



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
CBOE Oil Index (CEX) Dow Jones Equity REIT (DJR)
Amex Oil Index (XOI) GSTI Multimedia Networking Index (GIP)
Morgan Stanley Healthcare Products Index (RXP) PHLX / KBW Bank Sector Index (BKX)


Economic
News

Import Prices +1.7% vs
Bloomberg Consensus of +0.8%, prior +0.2%

Export
Prices ex-ag +0.6% , prior +0.6%

Import Prices ex-oil +0.3%, prior -0.1%

Initial Claims 342K vs 320K consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com