Stocks Rally; Wal-Mart Profit Jumps

• November 13, 2007
• TradingMarkets Editors

Stocks are notably higher on Wednesday, as the market rallies from its deeply oversold condition. Our daily Market Bias indicators triggered numerous bullish signals yesterday, including multiple CVR signals.

Wal-Mart
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PowerRating) reported an 8% rise in third quarter profit, gave guidance for Q4, and raised its full-year ’08 outlook (read more).

Home Depot
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PowerRating) reported a 27% drop in Q3 profit and lowered its outlook, citing the “softness in the housing market”(read more).

Citigroup
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PowerRating) announced it is reorganizing its investment banking unit (read more).

Adobe Systems
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PowerRating) surprised the market yesterday when the company announced that CEO Bruce Chizen is stepping down at the end of November (read more).

Apple
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PowerRating) is in talks with China Mobile aimed at introducing the iPhone in China (read more).

Market Snapshot

Dow 173.22 13160.77 NASDAQ 48.73 2632.86 S&P 500 18.79 1457.97   NYSE NASDAQ Volume 607,476,690 1,047,681,732 Up Volume 483,574,640 879,201,465 Down Volume 117,487,050 144,755,897 Advances 2253 1823 Declines 875 1000 New Highs 11 24 New Lows 121 118

Strongest/Weakest Industry Groups

Strongest Industries % Change Weakest Industries % Change Personal Computers +7.88% Building Materials Wholesale -1.80% Recreational Goods, Other +7.80% Diversified Utilities -0.86% Non-metallic Mineral Mining +7.06% Oil & Gas Drilling & Exploration -0.73%

Economic News

None Today