Stocks Rally on Inflation Data

  • May 11, 2007
  • Darren Wong

Today’s PPI report gave the bulls plenty of reasons
to take the markets higher.  The report stated that inflation
was moderating, which also raises the likelihood of a Fed rate cut
later this year.

June crude futures rose 0.9% to
are higher by 0.5% to
$62.37 per barrel. 
June gold futures rose 0.8% to $672.30 an ounce.

Around Europe, Britain’s FTSE 100
Index added 0.6% to close at 6,565.70, Germany’s DAX Index gained
0.9% to 7,479.34, and France’s CAC 40 rose 0.6% to 6,050.63.

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 jumped 8%, while BOT shares added 3.8%.

NVIDIA
(
NVDA |
Quote |
Chart |
News |
PowerRating) Q1 Earnings
Surge, Top Estimates (full
story).  NVDA shares closed higher by 7%.


Alcatel-Lucent
(
ALU |
Quote |
Chart |
News |
PowerRating) Reports Q1 Loss of $10.8 Million; Expects Stronger
Second Half 2007.  ALU shares rose 4.4%.

AIG
(
AIG |
Quote |
Chart |
News |
PowerRating) Q1 Earnings Rise, Top Estimate (full
story).  AIG shares gained 0.6%.

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

Market Snapshot

Dow

 +111.09 13,326.22

NASDAQ

 +28.36 2,562.10

S&P 500

 +14.38 1,505.85

 

 NYSE NASDAQ

Volume

 2,622,331,000 1,706,416,000

Advances

 2498 2091

Declines

 760 939

Up Volume

 1872 1290

Down Volume

 496 332

New Highs

 137 112

New Lows

 27 67


   



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