Stocks Rise Despite Negative Data

  • June 26, 2007
  • Darren Wong

The major indices are posting gains after a report
showed that U.S. home prices fell for the 17th month in a row with
all regions showing the effects of a slowdown. Consumer confidence
numbers also plunged to a 10-month low. 

Crude oil futures for July delivery fell
1.9% to $67.88 per barrel on forecasts that the weekly Energy
Dept. report will continue to show rising inventories.  Gold futures for August delivery fell
0.2% to
$649.75 an ounce.


Around Asia, Shanghai’s Composite rose 0.8% to 3,973.37, Hong
Kong’s Hang Seng index fell fractionally to 21,803.57, and Tokyo’s
Nikkei lost 0.1% to 18,066.11.

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Stocks in
Motion

Lennar
(
LEN |
Quote |
Chart |
News |
PowerRating) Slides To Loss In Q2 On Charge, 37% Fall
In Revenues; Sees Loss In Q3 (full
story). LEN shares fell 2%.

Roche Offers To Buy Ventana Medical
(
VMSI |
Quote |
Chart |
News |
PowerRating) For $3 Bln (full
story). VMSI shares soared by 49%.

Applied Materials
(
AMAT |
Quote |
Chart |
News |
PowerRating) To Buy HCT Shaping Systems For US$475
Mln. Cash (full
story). AMAT shares lost 0.3%.

Iberdrola To Acquire Energy East
(
EAS |
Quote |
Chart |
News |
PowerRating)
For $4.5 Bln; Energy East Stock Up In After-hours (full
story). EAS shares jumped 17%.

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


Market Snapshot

Dow

 +76.57 13,428.62

NASDAQ

 +8.96 2,586.13

S&P 500

 +6.23 1,503.97

 

 NYSE NASDAQ

Volume

 1,265,151,000 818,681,000

Advances

 1379 1343

Declines

 1692 1513

Up Volume

 490 343

Down Volume

 614 391

New Highs

 30 65

New Lows

 97 69


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
S&P Healthcare Index (HCX) Amex Natural Gas Index (XNG)
Morgan Stanley Healthcare Products (RXP) Airline Index (XAL)
Morgan Stanley Healthcare Payors Index (HMO) Deutsche Bank Energy Index (DXE)


 


Economic
News

New Home Sales 915K vs 925K
consensus, prior revised to 930K from 981K ; m/m change is -1.6%

Consumer
Confidence 103.9 vs 106.0 consensus, prior 108.0

Darren Wong

Associate Editor

darrenw@tradingmarkets.com