Stocks Extend Recovery

  • March 8, 2007
  • Darren Wong

U.S. stocks continued to rebound
after last week’s selloff.  The Dow spent much of the day up
triple digits, finally finishing up 68.25 points. 

The S&P 500 led the major indices
by gaining 0.7%.  Top gainers in the S&P included PMC
Sierra
(
PMCS |
Quote |
Chart |
News |
PowerRating) and National Semiconductor
(
NSM |
Quote |
Chart |
News |
PowerRating),
which both gained over 5%.

Gold moved higher for the third
straight day closing up by 0.4% to $655.50 an ounce. Crude
futures closed lower by 0.3% to $61.64 per
barrel. 

Around Europe, the U.K.’s
FTSE 100 index rose 1.16%, while France’s CAC 40 index surged up
1.27% to 5,524.26 and Germany’s DAX index climbed 1.44% to
6,713.23.



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Stocks in
Motion

Urban Outfitters
(
URBN |
Quote |
Chart |
News |
PowerRating) Q4 EPS Comes In
Flat, Matches Street View; To Elect Glen Senk To Newly Created Post Of CEO (full
story).  URBN shares lost 3.3%.

McDonald’s
(
MCD |
Quote |
Chart |
News |
PowerRating) Feb. Global Same Store
Sales Rise 5.7% (full
story).  MCD shares gained 1.25%.

Costco
(
COST |
Quote |
Chart |
News |
PowerRating) Q2 Profit Drops 16% On
Items; Adj. EPS Rises, Matches Street View; Feb. Comp. Up 4% (full
story).  COST shares dropped 3%.

J. C. Penney
(
JCP |
Quote |
Chart |
News |
PowerRating) Feb. Sales Rise 0.9%,
Comps. Down 0.2%; Guides March Sales (full
story).  JCP shares are traded higher by 4%.

Nucor
(
NUE |
Quote |
Chart |
News |
PowerRating) Expects Q1 Profit On Strong
Demand For Its Products, Shares Rise (full
story).  NUE shares jumped 5.3%

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

Market Snapshot

Dow

 +68.25 12,260.70

NASDAQ

 +13.09 2,387.73

S&P 500

 +9.92 1,401.89

 

 NYSE NASDAQ

Volume

 3,047,768,000 1,930,128,000

Advances

 2431 1794

Declines

 836 1209

Up Volume

 2321 1233

Down Volume

 718 615

New Highs

 106 71

New Lows

 23 80



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Amex Securities Broker/Dealer Index (XBD) Amex Natural Gas Index (XNG)
Dow Jones Equity REIT Index (DJR) Morgan Stanley Healthcare Payors Index (HMO)
S&P Chemicals Index (CEX) Amex Gold Bugs Index (HUI)


Economic
News

Initial Claims 328K vs 335K
consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com