Stocks Rise on Economic Data

  • June 1, 2007
  • Darren Wong

Stocks rose in early trading Friday after reports
showed nonfarm payrolls rose by 157,000 and that the unemployment
rate held steady at 4.5%. Economic reports continue to bring
renewed confidence in the economy.

June crude futures are higher by 0.3% to $64.23 per barrel. Gold
futures for August delivery are up 0.5%c to $663.90 an ounce.

Around Asia, Shanghai’s Composite fell
2.65% to finish at 4,000.74, Hong Kong’s Hang Seng Index lost
0.15% to 20,602.87, and Tokyo’s Nikkei Index rose 0.5% to
17,985.88.

Today’s

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Stocks in
Motion

Dow Jones
(
DJ |
Quote |
Chart |
News |
PowerRating) To Consider Buyout Offer
(full
story). DJ shares jump 14.5%.

Dell
(
DELL |
Quote |
Chart |
News |
PowerRating) Q1 Profit Falls, EPS Tops Consensus,
Revenue Up 3%; Plans 10% Job Cut, Shares Rise (full
story). DELL shares rise by 3%.

J. Crew Group
(
JCG |
Quote |
Chart |
News |
PowerRating) Q1 Profit Soars On Higher Sales
(full
story). JCG shares add 10% in early trading.

Hovnanian Enterprises
(
HOV |
Quote |
Chart |
News |
PowerRating) Posts Q2 Loss;
Withdraws FY07 Earnings Forecast (full
story). HOV shares fall by 2.7%.

Activision
(
ATVI |
Quote |
Chart |
News |
PowerRating) Q4 Loss Widens; Revenues Up 66%;
Sees Q1 EPS In Line With Consensus; Boosts FY08 Revenue Outlook (full
story). ATVI shares drop 3%.

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

Market Snapshot

Dow

 +32.83 13,660.47

NASDAQ

 +12.83 2,617.35

S&P 500

 +6.19 1,536.81

 

 NYSE NASDAQ

Volume

 1,221,230,000 837,714,000

Advances

 2146 1886

Declines

 938 1009

Up Volume

 815 515

Down Volume

 256 251

New Highs

 343 209

New Lows

 26 25


   



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Deutsche Bank Energy Bank Sector Index (DXE) Dow Jones Equity REIT Index (DJR)
Amex Oil Index (XOI) Amex Airline Index (XAL)
CBOE Oil Index (OIX) CBOE Dow Ten Index (MUT)


Economic
News

ISM Prices Paid
71.0 vs 73.0 Bloomberg consensus

Michigan
Sentiment-rev 88.3 vs 88.0 consensus, prior 88.7

ISM Index 55.0 vs 54.0 consensus

Pending Home Sales -3.2% vs +0.3% consensus

Average Hourly Earnings m/m +0.3% vs +0.3% consensus

Average Weekly Hours 33.9 vs 33.8 consensus

Unemployment Rate 4.5% vs 4.5% consensus

Personal Spending +0.5% vs +0.4% consensus

Personal Income -0.1% vs +0.3% consensus

Nonfarm Payrolls 157K vs 132K consensus, revised to 80K,
88K prior

Darren Wong

Associate Editor

darrenw@tradingmarkets.com