Stocks Bounce Back on Amazon and Boeing Earnings

  • July 25, 2007
  • Darren Wong

The major indices bounced back slightly after Tuesday’s harsh
selloff. Today’s volatile session was guided higher by great
earnings from Amazon and Boeing and the Fed’s Beige Book
manufacturing report. The report showed that

economic activity continued to expand in June and early July.

Crude oil futures for September delivery rose
3.2% to $75.88 a barrel after the weekly crude inventories report
showed a decline of 1.1 million barrels.  Gold futures for
August delivery fell 1.6% to $673.80 an ounce after the US
dollar rose against the Euro. To read today’s futures market recap,
click here.


Around Europe, Germany’s DAX index fell 1.5% to 7,692.55,
France’s CAC 40 index lost 1.2% to 5,837.11, and Britain’s FTSE
100 index lost 0.7% to 6,454.30.

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Stocks in Motion

Amazon.com
(
AMZN |
Quote |
Chart |
News |
PowerRating) Q2 Profit Surges On Media And Electronic Sales,
Guides Q3, Lifts FY07 Revenue Target (full
story). AMZN shares jumped 24%.

Volume And Productivity Gains Help Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) Reach High Altitudes
In Q2, Boosts FY07 Forecast, Reaffirms FY08 Target (full
story). BA shares rose 3%.

Freeport-McMoRan Copper And Gold
(
FCX |
Quote |
Chart |
News |
PowerRating) Q2 Profit Soars On Higher
Metal Pricing, Acquisition (full
story). FCX shares fell 0.7%.

Colgate-Palmolive
(
CL |
Quote |
Chart |
News |
PowerRating) Q2 Profit Rises 47%; Adj. EPS Up 17%, Tops
Street View; Sees Double-digit EPS Growth In FY07 (full
story). CL shares rose 2%.

Corning
(
GLW |
Quote |
Chart |
News |
PowerRating) Q2 Profit Declines On Charges; Adj. EPS Tops
Consensus; Sales Up 13%; Guides Q3 (full
story). GLW shares fell 6%.

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

 


Market Snapshot

Dow

 +68.12 13,785.07

NASDAQ

 +8.31 2,648.17

S&P 500

 +7.05 1,518.09

 

 NYSE NASDAQ

Volume

 4,022,032,000 2,452,017,000

Advances

 1268 1394

Declines

 1967 1648

Up Volume

 1585 1258

Down Volume

 2087 1074

New Highs

 51 84

New Lows

 403 248


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
CBOE Internet Index (INX) Gold Bugs Index (HUI)
S&P Insurance Index (IUX) S&P Chemicals Index (CEX)
Dow Jones Internet Commerce Index (ECM) Nasdaq Transportation Index (TRANX)


 


Economic
News

Existing Home Sales 5.75 mln vs
5.90 mln consensus; -3.8% m/m change

EIA report shows that crude
inventories fell by 1.1 million barrels for the week ended July 20.

Fed’s Beige Book says economic activity continued to expand in June and
early July

Fed’s Beige Book: Overall consumer spending modest

Darren Wong

Associate Editor

darrenw@tradingmarkets.com

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