U.S. Stock Markets Rebound

  • February 28, 2007
  • Darren Wong

The major averages rose in
Wednesday’s session, led by the S&P 500 index.  Top gainers
in the S&P included Hospira
(
HSP |
Quote |
Chart |
News |
PowerRating) and the Chicago
Mercantile Exchange
(
CME |
Quote |
Chart |
News |
PowerRating), which gained 6.7% and 5.6%
respectively.

Crude prices closed higher by 0.5%
to $61.79 per barrel, which marks the highest close since
mid-December.  Gold futures for April delivery moved higher
by 1% to $673.10 an ounce.

European markets closed lower in Wednesday’s
session due to continuing fears from Asia.  Paris’ CAC,
Germany’s DAX, and London’s FTSE all moved lower by over 1%. 

The
PowerRatings
Heat Maps*
from Tuesday’s close is showing action that has historically led to strength in
the overall market with
the Drug and Transportation sectors looking the strongest.



Stocks in
Motion

Sprint Nextel
(
S |
Quote |
Chart |
News |
PowerRating) Q4 Profit Rises 33% On Top Line
Growth; Backs FY07 Revenue Forecast (full
story). S shares rose by 4.7%.

Merck
(
MRK |
Quote |
Chart |
News |
PowerRating) Guides Q1; Raises FY07 EPS
Outlook (full
story).  MRK shares gained 2.4%.

Wynn Resorts
(
WYNN |
Quote |
Chart |
News |
PowerRating) Q4 Net Loss Widens,
But Adj. Net Income Soars (full
story).  WYNN shares moved higher by 2.2%.

King Pharmaceuticals
(
KG |
Quote |
Chart |
News |
PowerRating) Swings To Profit
In Q4, Revenues Up 21% (full
story).  KG shares gained 4.4%.

Station Casinos
(
STN |
Quote |
Chart |
News |
PowerRating) Q4 Profit Declines
On Higher Expenses; Adj. EPS Beats View (full
story).  STN shares moved fractionally lower in today’s session.

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

Market Snapshot

Dow

 +51.99 12,268.23

NASDAQ

 +8.27 2,416.13

S&P 500

 +7.77 1,406.81

 

 NYSE NASDAQ

Volume

 3,972,109,000 2,588,554,000

Advances

 2093 1657

Declines

 1187 1400

Up Volume

 2448 1598

Down Volume

 1155 844

New Highs

 81 65

New Lows

 31 81



Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
North American Telecom Index (XTC) Morgan Stanley Healthcare Providers Index (RXH)
Computer Hardware Index (HWI) Amex Airline Index (XAL)
Amex Gold Bugs Index (HUI) Amex Disk Drive Index (DDX)


Economic
News

The E.I.A. reports that crude
oil inventories had a build of 1.421 mln barrels

New
Home Sales 937K vs 1080K consensus

GDP-prelim +2.2% vs +2.3% consensus, prior +3.5%

Chain Deflator-prelim +1.7% vs +1.5% consensus, prior 1.5%

Darren Wong

Associate Editor

darrenw@tradingmarkets.com