Stocks Rally Back on Lower Yields, Crude

  • June 8, 2007
  • Darren Wong

Stocks rallied hard to finish the week. Lower
prices across the board and falling crude drew in investors who
helped push the major indices higher by over 1%.

July crude futures slipped by 3.2% to $64.76 per barrel. Gold
futures for August delivery fell 2.2% to $650.30 an ounce on
speculation that higher global interest rates will reduce demand
for precious metals.

Around Europe, France’s CAC 40 Index
fell 0.12% to 5,883.29, Germany’s DAX Index fell 0.4% to 7,590.50,
and Britain’s FTSE 100 closed flat at 6,505.10.


After the recent market selloff today’s

PowerRatings Heat Map is starting to look bullish. The leaders today look to
be in Drug and Metals stocks.  



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

McDonald’s
(
MCD |
Quote |
Chart |
News |
PowerRating) May Comps Rise 8.7%; Systemwide
Sales Up 11.9% (full
story). MCD shares rose by 2.4%.

Marriott International
(
MAR |
Quote |
Chart |
News |
PowerRating) To Pay $220 Mln To
Settle IRS Dispute Over ESOP (full
story). MAR shares closed higher by 1%.

National Semi
(
NSM |
Quote |
Chart |
News |
PowerRating) Q4 Earnings Fall; Sees Q1 Sales
Up 1-4% Sequentially, Boosts Share Buyback Plan By $2 Bln (full
story). NSM shares jumped 15%.

International Trade Commission Partially Bans Mobile Phones
With Qualcomm
(
QCOM |
Quote |
Chart |
News |
PowerRating) Chips (full
story). QCOM shares rose by 2%.

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

Market Snapshot

Dow

 +157.66 13,424.39

NASDAQ

 +32.16 2,573.54

S&P 500

 +16.95 1,507.67

 

 NYSE NASDAQ

Volume

 2,497,606,000 1,889,338,000

Advances

 2251 2026

Declines

 989 985

Up Volume

 1925 1482

Down Volume

 338 293

New Highs

 35 71

New Lows

 96 63



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
CBOE Internet Index (INX) Deutsche Bank Energy Index (DXE)
Dow Jones Internet Index (ECM) Amex Oil Index (XOI)
Nasdaq Other Finance Index (OFINX) Pharmaceutical Index (DRG)

 


Economic
News

Trade Balance
-$58.5 bln vs -$63.5 bln consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com