Stocks Start Week with Rally

  • July 2, 2007
  • Darren Wong

The holiday-shortened week started off with a bang after bond
yields moved lower and more merger news hit Wall Street. The S&P
and Nasdaq rose 1.1%, while the Dow gained 0.95%.

Crude oil futures for August delivery added 0.6% to $71.09 per barrel.  Gold
futures for August delivery rose 1.3% to
$659.20 an ounce.


Around Europe, Germany’s DAX index lost 0.6% to 7,958.24, France’s
CAC 40 index lost 0.5% to 6,026.95, and Britain’s FTSE 100 fell
0.26% to 6,590.60.

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Stocks in
Motion

Manor Care To Be Acquired By Private Equity Firm Carlyle
Group For $67 A Share Or About $6.3 Bln Cash (full
story). HCR shares fell by 1%.

ECI Telecom Agrees To Be Acquired By
Investor Group For $1.2 Bln (full
story). ECIL shares rose 4.4%.

Ventas Disposes 22 Underperforming Assets To Kindred Healthcare
For $171.5 Mln (full
story). VTR shares gained 3.9%, while KND shares added 0.7%.

Dominion Resources To Divest Mid-continent Operations To Linn
Energy For $2.05 Bln (full
story). D shares rose 0.6%, while LINE shares jumped 13%.

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


Market Snapshot

Dow

 +126.81 13,535.43

NASDAQ

 +29.07 2,632.30

S&P 500

 +16.08 1,519.43

 

 NYSE NASDAQ

Volume

 2,550,178,000 1,800,204,000

Advances

 2555 1981

Declines

 674 1048

Up Volume

 2033 1241

Down Volume

 392 483

New Highs

 204 203

New Lows

 50 72


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Nasdaq Telecom Index (IXTCX)
Natural Gas Index (XNG)
Amex Gold Bugs Index (HUI)
Pharmaceutical Index (DRG)
S&P Chemicals Index (CEX)
S&P Retail Index (RLX)


 


Economic
News

ISM Index 56.0 vs 55.0 consensus

ISM Prices Paid 68.0 vs 69.1 Bloomberg consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com