Stocks Slide, Crude Oil Prices Rise

  • June 29, 2007
  • Darren Wong

Stocks sold off late in Friday’s session after spending most of
the day in positive territory. Crude closed above the critical $70
mark today for the first time since September.

Crude oil futures for August delivery added
1.6% to $70.68 per barrel.  Gold
futures for August delivery rose fractionally to
$650.90 an ounce.


Around Europe, Germany’s DAX index rose 1.1% to 8,007.32, France’s
CAC 40 index added 0.8% to 6,054.93, and Britain’s FTSE 100 gained
0.6% to 6,607.90.

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Stocks in
Motion

Apple’s IPhone To Hit Stores Friday Evening (full
story). AAPL shares 1.4%.

Western Digital To Buy Komag For $1 Bln; Komag Warns Q2
Revenue (full
story). WDC shares fell 0.6%, while KOMG shares added 8%.


Research In Motion Q1 Profit Up 73%, Revenue Grew 76.5%; Declares
3-for-1 Stock Split (full
story). RIMM shares added 21%.

Computer Sciences Secures 63 Previously Unannounced Contracts Worth
$3.1 Bln (full
story). CSC shares lost 0.25%.

Apollo Group Q3 Earnings Flat, EPS Tops Estimate; Revenue Grows 12.2%
(full
story). APOL shares jumped 15%.

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


Market Snapshot

Dow

 -13.66 13,408.62

NASDAQ

 -5.14 2,603.23

S&P 500

 -2.36 1,503.35

 

 NYSE NASDAQ

Volume

 3,087,084,000 2,168,498,000

Advances

 1696 1348

Declines

 1575 1694

Up Volume

 1268 1225

Down Volume

 1646 1225

New Highs

 129 156

New Lows

 58 84


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Amex Gold Bugs Index (HUI) PHLX / KBW Bank Index (BKX)
CBOE Oil Index (OIX) S&P Banking Index (BIX)
Nasdaq Telecom Index (IXTCX) Dow Jones Internet Commerce Index (ECM)


 


Economic
News

Core PCE Inflation MoM 0.1% vs
0.1% consensus

Personal Spending 0.5% vs 0.7% consensus

Personal Income 0.4% vs 0.6% consensus

Chicago PMI 60.2 vs 58.0 consensus

Construction Spending 0.9% vs +0.2% consensus

 

Darren Wong

Associate Editor

darrenw@tradingmarkets.com