Stocks Rally Back after Yesterday’s Selloff

  • July 11, 2007
  • Darren Wong

The major indices are staging a rally this morning despite
continued fears surrounding the sub-prime mortgage sector.
Investors are awaiting earnings from biotech giant Genentech and
fast food chain operator Yum Brands after today’s close.

Crude oil futures for August delivery rose 0.9%
to $72.81 per barrel.  Gold
futures for August delivery are fractionally lower to $661.90 an ounce.


Around Asia, Shanghai’s Composite rose 0.3% to 3,865.72, Hong
Kong’s Hang Seng index lost 1.2% to 22,607.02, and Tokyo’s Nikkei
fell 1.1% to 18,049.51.

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Stocks in
Motion

TiVo Says Subscribers Could Now Browse, Purchase, And Rent
Amazon Unbox Movies And Television Shows Via TiVo Box (full
story). TIVO shares lost 2%, while AMZN shares rose 0.25%.

Sealy Q2 Profit Soars On Higher International Sales (full
story). ZZ shares lost 4.4%.

Ryland Sees Loss In Q2 (full
story). RYL shares fell 0.2%.

Liz Claiborne To Review Strategic Options For 16 Brands; To Cut 600-
800 Jobs In 2007; Tightens FY07 Adj. EPS View (full
story). LIZ shares added 0.8%.

Ventana Medical Systems Rejects Roche’s $3 Bln. Offer (full
story). VMSI shares rose fractionally.

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


Market Snapshot

Dow

 +55.44 13,557.14

NASDAQ

 +7.63 2,646.79

S&P 500

 +6.45 1,516.57

 

 NYSE NASDAQ

Volume

 1,189,707,000 792,174,000

Advances

 1828 1521

Declines

 1250 1290

Up Volume

 664 423

Down Volume

 372 287

New Highs

 79 91

New Lows

 82 96


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Nasdaq Transportation Index (TRANX) Deutsche Banke Energy Index (DXE)
North American
Telecom Index (XTC)		 Airline Index (XAL)
Amex Securities Broker/Dealer Index (XBD) CBOE DJ REIT

Index (DJR)


 


Economic
News

Energy Department reports a drop
in crude supplies by 1.4 mln barrels

Darren Wong

Associate Editor

darrenw@tradingmarkets.com