Oil Futures Fall Nearly $2 A Barrel; Stocks Mixed In Early Trading

  • June 20, 2007
  • Darren Wong

The major indices continue to fluctuate around the flatline on
Wednesday morning. Crude futures dipped by nearly $2 per barrel
and bond yields continued to move higher.

Crude oil futures for July delivery dropped
1.4% to $68.12 a barrel after the Energy Department’s crude
inventory report showed a build of 6.9 million barrels. Gold futures for August delivery
fell 0.5%  $661.30 an ounce. 


Around Asia, Shanghai’s Composite Index lost 2% to 4,181.32, Hong
Kong’s Hang Seng Index added 0.5% to 21,684.67, and Tokyo’s Nikkei
rose 0.26% to 18,211.68.



Today’s

PowerRatings Heat Map continues to show widespread price action that has led to lower
prices in the short term.  The sectors to avoid are Drugs, Electronics,
Metals/Mining, and Manufacturing. 

Click here to view all 33 Heat Map sectors.   


Each day TradingMarkets will be giving free open access to one
of our stock indicator lists. The stocks on these lists all have
historically backed data (covering over 7 million trades) to
quantify their trading edge. 

Click here for today’s free list of stocks with a

2-period RSI less than 2.



Stocks in
Motion

Home Depot
(
HD |
Quote |
Chart |
News |
PowerRating) To Sell Supply Unit To Private Equity
Group For $10.3 Bln; Boosts Share Buyback Program By $22.5 Bln (full
story). HD shares jump nearly 7%.

Morgan Stanley
(
MS |
Quote |
Chart |
News |
PowerRating) Q2 Profit Rises 40% On Higher Top Line Results;
EPS From Cont. Ops Beats Estimate (full
story). MS shares rise by 2%.

Microsoft
(
MSFT |
Quote |
Chart |
News |
PowerRating) Agrees With Department Of Justice To Change
Windows Vista Desktop Search Function (full
story). MSFT shares lose 0.7%.

FedEx
(
FDX |
Quote |
Chart |
News |
PowerRating) Q4 Profit Rises On One-time Gain, Higher Top Line;
Gives Q1, FY08 EPS View (full
story). FDX shares rise by 2%.

Circuit City
(
CC |
Quote |
Chart |
News |
PowerRating) Stores Posts Q1 Loss; Withdraws FY08 Outlook (full
story). CC shares fall 0.4%.

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


Market Snapshot

Dow

 +10.49 13,645.91

NASDAQ

 +0.42 2,627.18

S&P 500

 -2.24 1,531.46

 

 NYSE NASDAQ

Volume

 1,286,499,000 776,255,000

Advances

 1395 1191

Declines

 1682 1673

Up Volume

 585 334

Down Volume

 558 360

New Highs

 206 124

New Lows

 25 34


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Amex Airline Index (XAL) Dow Jones Equity REIT Index (DJR)
Nasdaq Telecom Index (IXTCX) Amex Oil Index (XOI)
Amex Interactive Week Internet Index (IIX) CBOE Oil Index (OIX)


 


Economic
News

Crude inventories showed a build
of 6.9 million barrels

Darren Wong

Associate Editor

darrenw@tradingmarkets.com