Stocks Start the Week Strong

  • April 16, 2007
  • Darren Wong

U.S. stocks rallied on Citigroup’s earnings and
continued M&A deals.  The major indices all added 1% with the
S&P 500 leading the move higher. 

Crude futures for May delivery
fell fractionally to close at $63.67 per barrel. 
June gold futures added $4.80 an ounce to close at $694.70.

Around Europe, Germany’s DAX Index led
with gains of 1.75% to end at 7,338.06, France’s CAC 40 Index
added 1.25% to 5,861.97, and the U.K.’s FTSE 100 Index rose 1.5%
to 6,516.20.



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Stocks in
Motion

Citigroup
(
C |
Quote |
Chart |
News |
PowerRating) Q1 Profit Drops 11% On Charge; Adj. EPS
Rises 6%; Top Line Up 15% (full
story).  C shares rose 2.7%.

Eli Lilly
(
LLY |
Quote |
Chart |
News |
PowerRating)
Q1 Profit Drops 39% On Charges; Adj. EPS Beats Estimate; Top Line Rises 14%;
Lifts FY07 View (full
story).  LLY shares added 2.6%.

Google
(
GOOG |
Quote |
Chart |
News |
PowerRating) Clinches Deal To Buy DoubleClick For
$3.1 Bln (full
story).  GOOG shares rose 1.7%.

Sallie Mae
(
SLM |
Quote |
Chart |
News |
PowerRating) Agrees To $25 Bln Investor Group
Buyout Offer (full
story).  SLM shares jumped 18% on the takeover.

Mattel
(
MAT |
Quote |
Chart |
News |
PowerRating) Q1 Profit Plunges 60% On Absence Of
Gain; Sales Rise 19% (full
story).  MAT shares lost 1%.

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

Market Snapshot

Dow

 +108.33 12,720.46

NASDAQ

 +26.39 2,518.33

S&P 500

 +15.62 1,468.47

 

 NYSE NASDAQ

Volume

 2,802,770,000 1,766,323,000

Advances

 2338 2172

Declines

 909 896

Up Volume

 2043 1217

Down Volume

 527 452

New Highs

 399 251

New Lows

 15 29



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
S&P Banking Index (BIX) Amex Oil Index (XOI)
PHLX/KBW Bank Sector Index (BKX) Morgan Stanley Healthcare Providers Index (RXH)
Nasdaq Other Finance Index (OFINX) Deutsche Bank Energy Index (DXE)


Economic
News

Business
Inventories +0.3% vs +0.3% consensus, prior +0.2%


Net Foreign Purchases $58.1 bln vs $80.0 bln consensus, $97.4 bln prior

Retail Sales +0.7% vs +0.4% consensus, prior +0.1%

Retail Sales ex-auto +0.8% vs +0.7% consensus, prior -0.1%

NY Empire State Index 3.8 vs 10.0 consensus, prior 1.9

Darren Wong

Associate Editor

darrenw@tradingmarkets.com