Stocks Surge on Easing Iran Tensions

  • April 3, 2007
  • Darren Wong

Easing tensions in Iran, lower oil prices, and a
higher than expected pending home sales report sent markets
higher.  The Nasdaq Composite led the major indices with a
1.2% gain to close at 2,450.33.

May Crude futures closed lower
today as tensions cool in Iran conflict.  Crude moved lower
by 2% to $64.64 per barrel.  Gold futures
for June delivery closed fractionally lower to finish the session
at $670.00 an ounce.

Around Europe, Germany’s DAX gained 1.6% to
close at 7,045.56, France’s CAC 40 Index added 1.4% at 5,711.91,
and the U.K’s FTSE 100 rose 0.8% to 6,366.10.



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Stocks in
Motion

Anheuser-Busch
(
BUD |
Quote |
Chart |
News |
PowerRating) To Build Brewery In China; Double
Budweiser’s Distribution In China Over Next Five Years (full
story).  BUD shares rose by 0.7%.

Ford
(
F |
Quote |
Chart |
News |
PowerRating)
March U.S. Sales Down 9% (full
story).  F shares gained 0.5%.

Halliburton
(
HAL |
Quote |
Chart |
News |
PowerRating) Says Offer For KBR
(
KBR |
Quote |
Chart |
News |
PowerRating)
Oversubscribed (full
story).  HAL shares gained 1.3%, while KBR shares added 0.7%.

Bunge
(
BG |
Quote |
Chart |
News |
PowerRating) Warns Of Near Break Even For Q1;
Reiterates FY07 EPS Outlook (full
story).  BG shares dropped 2.7%.

Taser
(
TASR |
Quote |
Chart |
News |
PowerRating) Guides Q1 Sales Below Analysts’
Forecast (full
story).  TASR shares finished fractionally lower.

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

Market Snapshot

Dow

 +128.00 12,510.30

NASDAQ

 +28.07 2.450.33

S&P 500

 +13.22 1.437.77

 

 NYSE NASDAQ

Volume

 2,861,543,000 1,929,378,000

Advances

 2391 2037

Declines

 861 1009

Up Volume

 2055 1381

Down Volume

 570 443

New Highs

 292 168

New Lows

 22 60



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
Amex Securities Broker/Dealer Index (XBD) Deutsche Bank Energy Index (DXE)
Amex Airline Index (XAL) Amex Natural Gas Index (XNG)
Morgan Stanley Healthcare Payors Index (HMO) Amex Oil Index (XOI)


Economic
News

Pending Home Sales +0.7% vs
-0.3% consensus

Darren Wong

Associate Editor

darrenw@tradingmarkets.com