Stocks Continue to Decline

  • June 21, 2007
  • Darren Wong

U.S. stocks moved lower on Thursday morning as bond yields
continue to creep higher and oil futures are closing in on $70 per
barrel.

Crude oil futures for July delivery rose 0.9%
to $69.46 a barrel after Nigerian workers left the country’s
export terminals, threatening supply. Gold futures for August
delivery fell 0.3% to $658.00 an ounce.


Around Asia, Shanghai’s Composite Index added 1.2% to close at
4,230.82, Hong Kong’s Hang Seng Index rose 1.25% to 21,954.67, and
Tokyo’s Nikkei gained 0.2% to 18,240.30.



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 making

5+ Consecutive Lower Lows.



Stocks in
Motion

Luxottica
(
LUX |
Quote |
Chart |
News |
PowerRating) To Buy Oakley
(
OO |
Quote |
Chart |
News |
PowerRating) For $2.1
Bln (full
story). LUX shares jump nearly 9%, while OO shares add 13%.

Newfield
(
NFX |
Quote |
Chart |
News |
PowerRating) To Sell Gulf Of Mexico Assets To McMoRan
(
MMR |
Quote |
Chart |
News |
PowerRating)
For $1.1 Bln In Cash (full
story). NFX shares gain 1.5%, while MMR shares rise 2.75%.

Former AIG
(
AIG |
Quote |
Chart |
News |
PowerRating) CEO Maurice Greenberg Sues Current And Former
Directors Of Company Over Restatement (full
story). AIG shares lose 1%.

H&R Block
(
HRB |
Quote |
Chart |
News |
PowerRating) Slides To Loss In Q4; Income From Cont. Ops Up 9%;
Revenue Rises 8%; Sees FY08 EPS Below Street Forecast (full
story). HRB shares lose 4%.

Andersons
(
ANDE |
Quote |
Chart |
News |
PowerRating) Boosts FY07 Earnings Outlook (full
story). ANDE shares jump 9%.

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


Market Snapshot

Dow

 -19.99 13,469.43

NASDAQ

 -0.85 2,599.11

S&P 500

 -0.37 1,512.47

 

 NYSE NASDAQ

Volume

 967,845,000 819,826,000

Advances

 1544 1287

Declines

 1553 1558

Up Volume

 626 466

Down Volume

 512 291

New Highs

 73 57

New Lows

 77 66


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
GSTI Semiconductor Index (GSM) CBOE DJ REIT Index (DJR)

CBOE Oil Index (OIX)		 Amex Securities Broker/Dealer Index (XBD)
Deutsche Bank Energy Index (DXE) Amex Airline Index (XAL)


 


Economic
News

Initial Claims 324K vs 310K
consensus, prior 314K revised from 311K

Darren Wong

Associate Editor

darrenw@tradingmarkets.com