Stocks Jump on PPI Data

  • May 11, 2007
  • Darren Wong

Stocks surged on Labor Department’s PPI report
showing that inflation is moderating.  This raised investor’s
expectations for a possible rate cut later this year.

June crude futures are higher
by 0.5% to
$62.09 per barrel. 
June gold futures are up by 1% to $673.50 an ounce.

Around Asia, Shanghai’s Composite
Index lost 0.7% to 4,021.68, Hong Kong’s Hang Seng Index dropped
1.3% to 20,468.21, and Tokyo’s Nikkei Index fell 1% to 17,553.72.

Today’s

PowerRatings Heat Map has started to show more bullish signals after
yesterday’s selloff.  The Drug sector looks to be the
strongest sector on today’s Heat Map.


Click here to see our new list of indicators that includes

Gaps Down 5% or More,

2-Period RSI Below 2,

Stocks Up 10% or More.  Historically proven edges make
these a great place to start making a watch list. 


Stocks in
Motion

Chicago Mercantile
(
CME |
Quote |
Chart |
News |
PowerRating)
Boosts Bid For CBOT
(
BOT |
Quote |
Chart |
News |
PowerRating), Amends Deal Terms (full
story).  CME shares jump 6.8%, while BOT shares add 3%.


NVIDIA
(
NVDA |
Quote |
Chart |
News |
PowerRating) Q1 Earnings Surge,
Top Estimates (full
story).  NVDA shares are up nearly 7%.


Alcatel-Lucent
(
ALU |
Quote |
Chart |
News |
PowerRating) Reports Q1 Loss of $10.8 Million; Expects Stronger
Second Half 2007.  ALU shares rise 4%.

AIG
(
AIG |
Quote |
Chart |
News |
PowerRating) Q1 Earnings Rise, Top Estimate (full
story).  AIG shares gain nearly 1%.

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

Market Snapshot

Dow

 +91.67 13,306.80

NASDAQ

 +19.23 2,552.97

S&P 500

 +10.42 1,501.89

 

 NYSE NASDAQ

Volume

 1,124,330,000 696,434,000

Advances

 2443 1967

Declines

 642 883

Up Volume

 819 473

Down Volume

 177 164

New Highs

 103 69

New Lows

 20 45


   



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Amex Oil Index (XOI) Dow Jones Internet Commerce Index (ECM)
Amex Networking Index (NWX) S&P Retail Index (RLX)
Amex Gold Bugs Index (HUI) Amex Airline Index (XAL)


Economic
News

PPI MoM 0.7% vs
0.6% consensus

Core PPI MoM 0.0% vs 0.2% consensus

Retail Sales ex-autos 0.0% vs 0.5% consensus

Retail Sales -0.2% vs 0.4% consensus

Business Inventories -0.1% vs 0.2% consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com