The Dow Continues into Record Territory

The Dow continues to move into new record territory. The blue-chip
index rose above 13,900 for the first time with help from GE,
which reported a 10% increase in Q2 revenues. Shares of GE rose
2.3% this morning.

Crude oil futures for August delivery jumped
1.6% to $73.63 a barrel after a pipeline shutdown and maintenance
work reduced North Sea production.  Gold
futures for August delivery fell 0.4% to $665.70 an ounce.


Around Asia, Shanghai’s Composite index closed fractionally lower
to 3,914.40, Hong Kong’s Hang Seng index rose 1.3% to 23,099.29,
and Tokyo’s Nikkei index added 1.4% to 18,238.95.

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Stocks in
Motion

GE
(
GE |
Quote |
Chart |
News |
PowerRating)
Q2 Profit Rises 10%; Guides Q3, Backs FY07 EPS
View; Lifts Share Buyback; To Shed U.S. Mortgage Unit (full
story
). GE shares added 2.3%.

Amgen
(
AMGN |
Quote |
Chart |
News |
PowerRating)
Board Authorizes Additional $5 Bln Common Stock
Repurchase (full
story
). AMGN shares rose 2.5%.

Agile Software
(
AGIL |
Quote |
Chart |
News |
PowerRating)
Stockholders Approve Merger With Oracle
(
ORCL |
Quote |
Chart |
News |
PowerRating)
(full
story
). AGIL shares added 0.1%, while ORCL shares fell 0.5%.

Baker Hughes
(
BHI |
Quote |
Chart |
News |
PowerRating)
Expects Q2 EPS Below Street View (full
story
). BHI shares dropped 5%.

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

 


Market Snapshot

Dow

+22.11 13,884.73

NASDAQ

-3.61 2,698.12

S&P 500

+1.26 1,548.99

 

NYSE NASDAQ

Volume

1,165,069,000 735,839,000

Advances

1422 1172

Declines

1616 1649

Up Volume

571 335

Down Volume

461 335

New Highs

268 177

New Lows

61 45


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors

Natural Gas Index (XNG) Computer Hardware Index (HWI)
S&P Chemicals Index (CEX) Disk Drive Index (DDX)
Deutsche Bank Energy Index (DXE) Nasdaq Other Finance Index (OFINX)


 


Economic
News

Retail Sales -0.9% vs -0.1%
consensus

Retail Sales ex-auto -0.4% vs +0.2% consensus

Import Prices y/y +2.3% , prior +1.1%

Darren Wong

Associate Editor

darrenw@tradingmarkets.com