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cyjjerry85     27-Jul-2007 00:49  
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all i can say now seeing it over 300 points is waa.......
 
 
KiLrOy     27-Jul-2007 00:46  
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Soon it will be europe and asia.... http://www.cnbc.com/id/19976339/for/cnbc/

 
 
 
imall29     27-Jul-2007 00:42  
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Does not look good .........

Index Value: 13,491.21
Trade Time: 12:37PM ET
Change: Down 293.86 (2.13%)
 

 
synnexo     26-Jul-2007 23:17  
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Sigh...look at Dow

13598.19-186.88 / -1.36% 11:16am ET
 
 
cyjjerry85     26-Jul-2007 01:11  
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U.S. Stocks Advance on Earnings; Amazon, Boeing Shares Gain



July 25 (Bloomberg) -- U.S. stocks rebounded from the worst drop in four months after profits topped analysts' estimates at Amazon.com Inc. and Boeing Co.

``The thing to really focus on is the good earnings and the good economy,'' said Giri Cherukuri, head trader at Oakbrook Investments LLC in Chicago. ``Things are looking good for the equity market.''

Stocks pared their gains as concern grew that companies' access to loans is diminishing.

Home resales in the U.S. dropped for a fourth straight month in June. Purchases declined 3.8 percent to an annual rate of 5.75 million, the slowest pace since November 2002, from a revised 5.98 million in May that was less than initially reported, the National Association of Realtors said today.
 
 
mirage     26-Jul-2007 00:29  
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Quotes:

From: MarketWatch
Mark Hulbert
MARK HULBERT
Still no exuberance
Commentary: Contrarians see little evidence major bear market has begun
By Mark Hulbert, MarketWatch
Last Update: 12:01 AM ET Jul 25, 2007



ANNANDALE, Va. (MarketWatch) -- When I filed my previous column late Monday night, I of course had no idea that the stock market would have such an awful day on Tuesday.
I wrote in that column that the stock market was showing signs of fatigue, and that this wasn't good news. See July 24 column
Chart of $INDU
As fate would have it, of course, the Dow Jones Industrial Average ($INDU :
$INDU
Last:

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Sponsored by:
$INDU, , ) plunged 226 points on Tuesday, turning in its worst one-day performance since March.
Is the market still tired? Or will Tuesday's rout be enough to re-energize the market into mounting a fresh assault on new highs?
For insight, I turn to the investment newsletters. Taking a contrarian perspective, I am eager to see where we stand on the spectrum that ranges from excessive optimism (which would be very bearish) to excessive pessimism (which would be bullish).
Interestingly, I don't see much evidence of the exuberance and enthusiasm that is typically seen at major tops.
Consider the latest readings of the Hulbert Stock Newsletter Sentiment Index (HSNSI), which reflects the average stock market exposure among a subset of short-term market timing newsletters tracked by the Hulbert Financial Digest. As of Tuesday night, the HSNSI stood at 44.5%.
To put that in context, the historical range for the HSNSI extends from 79.7% on the high side to minus 81.8% on the low end. (Negative values mean that the average short-term market timer is net short the market.)
So while the editor of the average market timing newsletter is closer to the optimism end of the spectrum than the pessimism end, he is still a long way away from that extreme of optimism - some 35 percentage points, in fact.
This in itself is an encouraging sign. But even more encouraging is where the HSNSI stands relative to where we would normally expect it to be, given the strength in the market in recent months.
Imagine where we would have forecast the HSNSI to stand today if, at the beginning of the year, we were told that the Dow would close above 14,000 in late July. The Dow at the time was trading at 12,463, and the HSNSI stood at 65.3%. I don't know about you, but I would have guessed that the HSNSI would also be higher - perhaps at or above its previous all-time high of 79.7%.
Yet, far from rising in the wake of the market's impressive strength, the HSNSI has dropped markedly.
Another comparison that is bullish: In late February, the day before the so-called Shanghai Surprise that shed 416 points off the Dow, the HSNSI stood at 62.4%. The editor of the average market timing newsletter is a lot more subdued today, and yet the market relatively quickly recovered from that correction.
A number of you have written in recent weeks to press about how much confidence one should place in contrarian analysis in general, and the HSNSI in particular. So let me say a few things that I think you should keep in mind:
  • Our econometric analysis of the sentiment data over the last two decades shows that it does a credible job of forecasting relative probabilities of market rallies and declines. In some econometric tests that we've run, sentiment variables such as the HSNSI are able to explain as much as a third of the market's subsequent three-month returns. (For the statisticians among you: the r-squared in some regressions is as high as 0.33.)
  • That is quite impressive from a statistical point of view, since most of the indicators that get bandied about on Wall Street are unable to stand up to any statistical scrutiny whatsoever. Nevertheless, notice that - even so - sentiment cannot explain two-thirds of the stock market's ups and downs.
  • This is just another way of saying that sentiment is not the only thing that makes the stock market tick. So, contrarian analysis should be just one tool in your investment arsenal.
  • This in turn implies that it is useful to have lots of tools in our investment arsenal. I had thought that this was obvious, but several of you took me to task Tuesday for flashing cautionary technical signals in my column at a time when my contrarian analysis was reaching more positive conclusions.
  • But there is no contradiction. There never will be a time when all indicators point in the same direction. If your adviser ever says that the evidence all points in the same direction, you should run - not walk - the other way.
  • Notice also that contrarian analysis is at best a shorter-term tool. To the extent it can tell you anything, it is primarily about how the market will perform over the next couple of months. It won't help you guess where the stock market will be when you retire several decades from now.
The bottom line? Anything can happen. But, from the perspective of a contrarian analysis of sentiment among investment newsletters, odds favor that the market will soon recover from Tuesday's decline and will trade at new all-time highs sometime in the next three months. End of Story


Mark Hulbert is the founder of Hulbert Financial Digest in Annandale, Va. He has been tracking the advice of more than 160 financial newsletters since 1980.

 
 

 
mirage     25-Jul-2007 09:32  
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MARKET SNAPSHOT
Stocks close sharply off on credit worries
Dow slides 226 pts; Countrywide says credit risks extend beyond subprime
By Kate Gibson, MarketWatch
Last Update: 5:41 PM ET Jul 24, 2007



NEW YORK (MarketWatch) - Stocks finished sharply lower, sending the Dow industrials to their biggest single-day drop since March, after Countrywide Financial, the nation's biggest mortgage lender, warned that problems are spreading beyond the subprime sector, while earnings at DuPont and American Express disappointed.
"Continuing concerns over liquidity in the credit markets and its impact on pending deals are bringing out the sellers," said Elliot Spar, an option market strategist at Ryan Beck & Co.
Chart of $INDU
The Dow Jones Industrial Average ($INDU :
$INDU
Last:

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$INDU, , ) shed 226 points to close at 13,716, with 29 of its 30 stocks on the decline.
"U.S. equities are coming unhinged again as the credit crunch and weak earnings in the tech and mortgage sectors rattle investors," said analysts at Action Economics.
DuPont (DD :
DD
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DD, , ) headed the Dow's slump, its shares down 6.3% after the chemicals giant reported flat second-quarter revenue and a 5.1% gain in revenue. The company's earnings per share did not meet expectations.
More pain for financials
Fellow Dow component, American Express Co. (AXP :
AXP
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AXP, , ) was off 5.4%. The company also reported an 85% jump in loss provisions.
By sector, financial (OFIN :
OFIN
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OFIN, , ) and broker-dealer (XBD :
XBD
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XBD, , ) stocks led the decline, with natural gas (XNG :
XNG
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XNG, , ) and oil (XOI :
XOI
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XOI, , ) stocks falling as well.
Lehman Brothers Holdings Inc. (LEH :
LEH
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LEH, , ) lost 3.6% and Goldman Sachs Group Inc. (GS :
GS
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GS, , ) shares shed 3.4%; Legg Mason Inc. (LM :
LM
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LM, , ) slid nearly 3% and E Trade Financial Group (ET :
ET
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ET, , ) dropped 6.7%.
Adding to the overall nervousness about credit markets, Bill Gross, the respected bond-fund manager of Pimco, said weakness in junk bonds and subprime-mortgage markets could lead to as much as a double-digit correction in U.S. stocks. See full story.
Apple leads techs lower
Away from financials, shares of Apple Inc. (AAPL :
AAPL
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AAPL, , ) shares slid 5.5%.
AT&T Corp. (T :
T
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T, , ) , also a Dow component, closed 0.9% lower. The telecom's earnings beat expectations, but AT&T, the network provider for Apple Inc.'s iPhone, said it activated substantially fewer iPhones than expected during the finally days of the quarter.
Chart of AAPL
The S&P 500 index ($SPX :
$SPX
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$SPX, , ) fell 30.5 points to 1,511, while the Nasdaq Composite (COMP :
COMP
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COMP, , ) relinquished 50.7 points to 2,639.
On the New York Stock Exchange, nearly 2 billion shares traded hands, while 2.5 billion were exchanged on the Nasdaq. Declining issues beat advancers 3-1 on the NYSE and by 5-1 on the Nasdaq.
Biotechnology (BTK :
BTK
Last:

Delayed quote data
 
mirage     25-Jul-2007 09:26  
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QUOTES:

DOW is DOWN 226.47 pts (or -1.62%) to 13,716.95.

Market Overview



Market Summary USAAMERICASEUROPEASIACURRENCIES

Major Market Indexes
Industry Indexes
International Indexes
Sector Performance
Rates
DJIA 13,716.95    -226.47    -1.62%
Nasdaq 2,639.86    -50.72    -1.89%
S&P 500 1,511.04    -30.53    -1.98%
Dow Util 496.84    -17.76    -3.45%
NYSE 9,909.95    -211.63    -2.09%
AMEX 2,337.27    -31.54    -1.33%
Russell 2000 811.86    -23.76    -2.84%
Semcond 523.74    -10.20    -1.91%
Gold future 684.80    +3.30    +0.48%
30-Year Bond 5.06%    -0.01    -0.10%
10-Year Bond 4.94%    -0.02    -0.40%

 Market Diaries
Issues: NYSE Nasdaq
Advancing  338  525
Declining  2,996  2,536
Unchanged  77  101
Total:  3,411  3,162
Issues at:
52-Week High  20  17
52-Week Low  249  219
Volume:
Advancing  132,818,000  324,812,000
Declining  1,848,901,000  2,144,370,000
Unchanged  7,691,000  -2,444,036,000
Total:  1,989,410,000  25,146,000

7/24/2007 8:00:00 PM
Market Screener NYSENASDAQAMEXOTC
Most Active by Volume on 7/24/2007
Symbol Last Change Volume
EMC 19.05    -0.460 59.79M  
CFC 30.50    -3.560 51.25M  
GE 40.22    -0.600 46.06M  
C 49.31    -1.550 45.98M  
PFE 24.89    -0.140 42.70M  
T 39.68    -0.350 41.49M  
F 8.26    -0.200 40.41M  
JPM 45.34    -1.810 35.71M  
BAC 47.15    -1.000 33.10M  
XOM 90.84    -2.600 31.85M  

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gho485     25-Jul-2007 08:27  
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It may be a good day for those who wants to pick up some valuable stocks. Great Sale is here again!!!
 
 
evideo     25-Jul-2007 06:41  
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DOW 24-JUL-07 (CLOSING) 13,716.95 4:06pm ET Down 226.47 (1.62%)

 

 
synnexo     25-Jul-2007 06:37  
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Dont look good for the day. Dow shed more than 200pts again. Sigh...
 
 
cyjjerry85     25-Jul-2007 01:04  
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25 July -

Wall Street Retreats As Investors Weigh Earnings Reports, Subprime Concerns NEW YORK (AP) -- Wall Street pulled back sharply Tuesday as investors dealt with disappointing earnings reports and renewed concerns about the mortgage lending market.
Following the Dow's move last week over 14,000 for the first time, it "seems logically like the market needs to have some profit-taking," said Joe Ranieri, managing director of U.S. equity trading at Canaccord Adams.

The stock market will likely be driven by company earnings reports over the next two weeks, he said, as investors try to get a sense of how well corporate profits will hold up in the second half of the year.

Tuesday's retreat was also not surprising considering that the market's move into record territory came before profit reports were released in earnest. Many investors were betting that reports would be more upbeat than they actually have turned out to be. In addition, a profit warning from mortgage lender Countrywide Financial Corp. reminded investors that troubles in the subprime market persist.

In a signal to Wall Street of more woes to come in the mortgage lending market, Countrywide Financial posted sharply lower second-quarter profit and slashed its earnings forecast as mortgage banking earnings were cut in half.The troubles among subprime mortgage lenders have periodically rattled Wall Street this year, leading to sudden plunges as investors feared that the sector's problems would spread to other parts of the economy. The market has generally recovered in a short period of time, but as Tuesday's trading showed, it remains vulnerable to any bad news about mortgages or housing.
 
 
cyjjerry85     24-Jul-2007 03:21  
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July 23 (Bloomberg) -- U.S. stocks rallied the most in a week on $35 billion in acquisitions and earnings that topped analysts' estimates at Merck & Co.

Anytime there's a multiple of deals announced, I think it engenders further confidence that corporate buyers believe there are business combinations that make sense,'' said Liam Dalton, who oversees $1.3 billion as chief executive officer of Axiom Capital Management in New York. ``It gives an undercurrent to the market that says equities are not excessively expensive.''

Today's announced takeovers brought this year's total to about $1.49 trillion, according to Bloomberg data, compared with $938.6 billion at the same time last year. ``Earnings in general have been coming in better than expected,'' said John Carey, who overseas about $13 billion at Pioneer Investment Management in Boston. ``Why not be bullish?''
 
 
mirage     20-Jul-2007 14:01  
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QUOTES:

Singapore shares end morning higher on Wall Street gains, properties rebound


Singapore share prices ended Friday's morning session higher as investors cheered gains on Wall Street Thursday, with both the Dow Jones Industrial Average and S&P 500 indices closing at new record levels.

Property stocks, which had been sold off the last two days after the Singapore government raised the levy on property redevelopments to 70 percent of the consequent appreciation in land value from 50 percent, recovered, providing key support to the benchmark Straits Times index (STI).

At the midday break, the STI was up 38.05 points or 1.1 percent at 3,642.67. Gainers led losers 624 to 173, with 214 shares unchanged.

Volume traded reached 2.25 billion shares valued at 1.64 billion Singapore dollars.

Analysts say the recent selloff in property stocks may have been overdone considering that the hike in the levy on property redevelopments will not have a significant impact on developers in the near term.

"The residential market is still very strong. Developers can still pass on additional costs to consumers," Standard & Poor's Asian Equity Research analyst Yeow Kit Peng said.

Yeow, however, rates property stocks "neutral", saying stock valuations are looking stretched.

Among property heavyweights, CapitaLand was up five cents at 7.55 dollars, Wing Tai added 12 cents at 3.70 dollars and Keppel Land rose 10 cents to 8.65 dollars. Banking shares extended recent gains on expectations they will post strong second-quarter results.

DBS Group, which will release its second-quarter results next Friday, edged up 20 cents to 23.80 dollars. Oversea-Chinese Banking Corp advanced 10 cents to 9.50 dollars and United Overseas Bank was up 20 cents at 23.10 dollars.

Container shipping and logistics company Neptune Orient Lines Ltd rose 25 cents to 6.05 dollars ahead of the release of its June operating statistics on Monday, with investors looking for further evidence that freight rates are recovering.

Commodities supplier Noble Group gained eight cents to 1.88 dollars after raising 1.2 billion US dollars from a revolving credit facility.

Keppel Corp rose 30 cents to 13.50 Singapore dollars on expectations that it will report robust first-half results next Thursday, driven by strong contributions from its shipyard and real estate businesses.

Macquarie analyst Ashwin Sanketh said he expects Keppel to post net profit of 500 million dollars, compared to 365.54 million dollars a year ago.

Other shipyard companies were also higher, with SembCorp Marine up 15 cents at 5.70 dollars, Labroy Marine up four cents at 2.68 dollars and COSCO (Corp) Singapore 17 cents higher at 5.05 dollars.
 
 
mirage     20-Jul-2007 08:47  
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QUOTES:

DOW is up 82.19 pts (or 0.59%) to 14,000.41.

Market Overview



Market Summary USAAMERICASEUROPEASIACURRENCIES

Major Market Indexes
Industry Indexes
International Indexes
Sector Performance
Rates
DJIA 14,000.41    +82.19    +0.59%
Nasdaq 2,720.04    +20.55    +0.76%
S&P 500 1,553.08    +6.91    +0.45%
Dow Util 520.77    +9.33    +1.82%
NYSE 10,194.01    +45.73    +0.45%
AMEX 2,387.21    -0.83    -0.03%
Russell 2000 851.85    +5.94    +0.70%
Semcond 543.54    +4.27    +0.79%
Gold future 678.10    +4.40    +0.65%
30-Year Bond 5.12%    +0.02    +0.33%
10-Year Bond 5.03%    +0.02    +0.36%

 Market Diaries
Issues: NYSE Nasdaq
Advancing  2,039  1,818
Declining  1,209  1,181
Unchanged  131  152
Total:  3,379  3,151
Issues at:
52-Week High  163  121
52-Week Low  37  63
Volume:
Advancing  922,377,000  1,579,265,000
Declining  579,346,000  610,364,000
Unchanged  29,013,000  -42,841,000
Total:  1,530,736,000  2,146,788,000

7/19/2007 7:59:00 PM
Market Screener NYSENASDAQAMEXOTC
Most Active by Volume on 7/19/2007
Symbol Last Change Volume
AA 44.62    -1.830 53.39M  
PFE 24.99    -0.140 51.92M  
AMD 15.78    +0.320 49.40M  
EMC 19.72    +0.470 47.07M  
MF 27.55    -2.450 46.19M  
F 8.63    0.000 36.44M  
GE 40.71    +0.260 29.77M  
C 51.13    -0.470 28.98M  
TWX 20.71    -0.170 28.90M  
MOT 18.22    +0.220 27.21M  

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cyjjerry85     18-Jul-2007 01:56  
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Dow tops 14,000 milestone as Wall Street cheers earnings news



Wall Street's blue-chip Dow Jones index vaulted Tuesday above 14,000 for the first time as optimism over the outlook for the economy and corporate earnings kept the market rally advancing.

The Dow Jones Industrial Average traded as high as 14,002.60 shortly after the market open, hitting a new milestone less than three months after smashing the barrier of 13,000.
 
 
cyjjerry85     16-Jul-2007 22:45  
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up on opening again~! just unsure if STI will follow suit or take the cautious approach like Monday...but well, the DOW has been in rally for the past few sessions and outlook is still strong for this moment
 
 
mirage     16-Jul-2007 09:05  
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QUOTES:
MARKET SNAPSHOT
U.S. stocks to rise in second week of earnings
By Kate Gibson & Polya Lesova, MarketWatch
Last Update: 12:01 AM ET Jul 14, 2007
NEW YORK (MarketWatch) -- U.S. stocks will edge higher next week, continuing a rally that sent the Dow Jones Industrial Average surging to record highs, as earnings kicks into high-gear with11 blue chips -- including Coca-Cola Co. and Intel Corp. -- slated to report quarterly results.
A weaker dollar and some key economic data, including reports on inflation and housing as well as mergers and acquisition activity, might also further fuel buying interest.
"Earnings season takes off next week in earnest," said Mike Malone, trading analyst at Cowen & Co. "It should be a good week with further gains (in the market) as earnings hit expectations, which I do believe will be the case."
Malone said he will particularly watch out for a number of financial companies posting earnings next week, including Merrill Lynch & Co. (MER :
Merrill Lynch & Co., Inc
Last: 86.54+1.02+1.19%
4:01pm 07/13/2007
Delayed quote data
Sponsored by:
MER86.54, +1.02, +1.2%) , and JP Morgan Chase & Co. (JPM :
jp morgan chase & co com
Last: 50.05+0.52+1.05%
4:00pm 07/13/2007
Delayed quote data
Sponsored by:
JPM50.05, +0.52, +1.0%) .
Both firms' businesses are exposed to credit markets, which were rocked over the past week after ratings agencies downgraded a large number of subprime mortgages.
U.S. stocks surged to record highs last week, with the Dow Industrials ($INDU :
Dow Jones Industrial Average
Last: 13,907.25+45.52+0.33%
4:30pm 07/13/2007
Delayed quote data
Sponsored by:
$INDU13,907.25, +45.52, +0.3%) closing in on the 14,000 level. The Dow gained 1.8% for the week as investors actively sought the stock of industrials and multinationals. See Market Snapshot.
A weaker dollar, which can help U.S. exports by making them cheaper in overseas markets, as well as boost the overseas profits of multinationals when repatriated into dollars, was credited by many analysts for lifting the market this week.
"The low dollar is attracting foreign investors to American stocks," said Hugh Johnson, chairman of Johnson Illington Advisors "There has been a profound shift in asset preferences: bonds are not an alternative, since interest rates are going higher."
Data might move the dollar
Even with earnings taking center stage, economic data might remain a key focus if it does impact the dollar.
Traders will be looking to U.S. economic reports, including two measures of inflation -- the Producer Prices Index on Tuesday and the Consumer Prices Index on Thursday.
Thursday brings another set of statistics on housing starts, also a potentially market-moving report.
But next week, "earnings news is going to dominate," said Owen Fitzpatrick, head of the U.S. equity group at Deutsche Bank, who estimates above-consensus profits of 7%.
"GE is a good proxy for some of the economically sensitive companies," Fitzpatrick said of General Electric Co. (GE :
General Electric Company
Last: 39.50+0.50+1.28%
4:01pm 07/13/2007
Delayed quote data
Sponsored by:
GE39.50, +0.50, +1.3%) , which on Friday reported a 10% hike in second-quarter earnings.
Earnings season in full gear
Earnings growth is expected to rise 4.2% in the second quarter, marking the second straight period in which earnings growth falls below 10%, according to Thomson Financial. Up until this year, earnings grew more than 10% for 14 consecutive quarters.
The economy also slowed to 1.7% in the first quarter, but investors remain optimistic that global growth will help multinational companies, which are heavily represented on the Dow Industrials, to continue fueling earnings growth.
"Next week will be the heaviest week in terms of Dow companies that are reporting," said John Butters, senior research analyst at Thomson Financial.
The second week of earnings season will feature Dow components including Coca-Cola (KO :
The Coca-Cola Company
Last: 53.11+0.48+0.91%
4:03pm 07/13/2007
Delayed quote data
Sponsored by:
KO53.11, +0.48, +0.9%) , Intel Corporation (INTC :
Intel Corporation
Last: 25.97-0.03-0.12%
4:07pm 07/13/2007
Delayed quote data
Sponsored by:
INTC25.97, -0.03, -0.1%) and Johnson and Johnson (JNJ :
Johnson & Johnson
Last: 63.43+0.07+0.11%
4:00pm 07/13/2007
Delayed quote data
Sponsored by:
JNJ63.43, +0.07, +0.1%) on Tuesday.
On Wednesday, JP Morgan Chase (JPM :
jp morgan chase & co com
Last: 50.05+0.52+1.05%
4:00pm 07/13/2007
Delayed quote data
Sponsored by:
JPM50.05, +0.52, +1.0%) , United Technologies (UTX :
United Technologies Corporation
Last: 75.00+1.01+1.37%
4:01pm 07/13/2007
Delayed quote data
Sponsored by:
UTX75.00, +1.01, +1.4%) , Altria Group (MO :
altria group inc com
Last: 71.70-0.37-0.51%
4:03pm 07/13/2007
Delayed quote data
Sponsored by:
MO71.70, -0.37, -0.5%) and Pfizer (PFE :
Pfizer Inc
Last: 25.91-0.07-0.27%
4:01pm 07/13/2007
Delayed quote data
Sponsored by:
PFE25.91, -0.07, -0.3%) will report.
Honeywell International Inc (HON :
honeywell intl inc com
Last: 60.14-0.30-0.50%
4:01pm 07/13/2007
Delayed quote data
Sponsored by:
HON60.14, -0.30, -0.5%) and Microsoft Corp. (MSFT :
Microsoft Corporation
Last: 29.82-0.25-0.83%
4:00pm 07/13/2007
Delayed quote data
Sponsored by:
MSFT29.82, -0.25, -0.8%) are due to report on Thursday and Citigroup (C :
Citigroup, Inc
Last: 52.52-0.32-0.61%
4:01pm 07/13/2007
Delayed quote data
Sponsored by:
C52.52, -0.32, -0.6%) and Caterpillar (CAT :
Caterpillar Inc
Last: 85.13+1.04+1.24%
4:00pm 07/13/2007
Delayed quote data
Sponsored by:
CAT85.13, +1.04, +1.2%) on Friday.
Away from the Dow, Yahoo Inc.'s results (YHOO :
Yahoo! Inc
Last: 26.58-0.38-1.41%
4:00pm 07/13/2007
Delayed quote data
Sponsored by:
YHOO26.58, -0.38, -1.4%) will also be closely watched.
There's been a move into technology stocks over the last few weeks because investors think fundamentals have taken a positive turn, said Cowen's Malone.
Next weeks' earnings could either confirm or dash that notion, he said. End of Story


Kate Gibson is a markets reporter for MarketWatch, based in New York.
Polya Lesova is a MarketWatch reporter based in New York.



 

 
 
 
mirage     13-Jul-2007 08:57  
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QUOTES: DOW UP 283.86 pts to 13,861.73, reaching 14,000 soon.

 
MARKET SNAPSHOT
Dow surges 283 points to record highs
Dow sees best performance in nearly 4 years as Alcoa, Intel, Wal-Mart rally
By Nick Godt, MarketWatch
Last Update: 5:12 PM ET Jul 12, 2007





 

 

 
NEW YORK (MarketWatch) -- U.S. stocks rose sharply Thursday, sending the Dow Jones Industrial Average up 283 points to new record highs, as traders cheered Rio Tinto PLC's $38.1 billion offer for aluminum producer Alcan Inc. and Wal-Mart Stores Inc.'s better-than-expected June sales.
"This began with the continuation of the [merger-and-acquisition] deals still coming through and retail sales a little stronger than expected," said Robert Pavlik, chief investment officer at Hinsdale Associates.
"But if you dig a little deeper, professional investors, be they hedge fund managers, institutions or portfolio managers, have found themselves under-invested and are frantically getting out of cash and moving their money into stocks."
Chart of $INDU
The Dow Jones Industrial Average ($INDU :
Dow Jones Industrial Average
Last: 13,861.73+283.86+2.09%
4:30pm 07/12/2007
Delayed quote data
Sponsored by:
$INDU13,861.73, +283.86, +2.1%) gained 283 points, or 2.09%, to close at 13,861, after breaching the June 1 record high of 13,692 and just off a new intraday high of 13,869.
The last time the Dow gained as much as 2.09% in one day was on Oct. 1, 2003.
A fast weakening dollar, which boosts demand for U.S. made goods, while reducing the value of holding cash, also boosted the market, especially the Dow industrials.
"A weaker dollar bodes well for the economy, as growth is going to continue from overseas," said Pavlik.
The Dow was lifted by the likes of Caterpillar Inc. (CAT :
Caterpillar Inc
Last: 84.09+1.92+2.34%
8:06pm 07/12/2007
Delayed quote data
Sponsored by:
CAT84.09, +1.92, +2.3%) , Honeywell Inc. (HON :
honeywell intl inc com
Last: 60.44+1.70+2.89%
8:11pm 07/12/2007
Delayed quote data
Sponsored by:
HON60.44, +1.70, +2.9%) , Merck Co. Inc. (MRK :
Merck & Co., Inc
Last: 50.77+1.87+3.82%
8:14pm 07/12/2007
Delayed quote data
Sponsored by:
MRK50.77, +1.87, +3.8%) and Intel Corp. (INTC :
Intel Corporation
Last: 26.00+1.43+5.82%
8:10pm 07/12/2007
Delayed quote data
Sponsored by:
INTC26.00, +1.43, +5.8%) .
Leading the gains on the Dow, Alcoa Inc. (AA :
alcoa inc com
Last: 45.29+2.86+6.74%
8:04pm 07/12/2007
Delayed quote data
Sponsored by:
AA45.29, +2.86, +6.7%) jumped 6.7%. The aluminum giant's hostile bid for Canada's Alcan Inc. (AL :
Alcan Inc
Last: 98.45+8.85+9.88%
8:04pm 07/12/2007
Delayed quote data
Sponsored by:
AL98.45, +8.85, +9.9%) was handily topped by Anglo-Australian Rio Tinto PLC. (RTP :
rio tinto plc sponsored adr
Last: 317.71-6.71-2.07%
8:17pm 07/12/2007
Delayed quote data
Sponsored by:
RTP317.71, -6.71, -2.1%) .
Chart of AL
Rio Tinto's $38.1 billion offer, which topped Alcoa's by nearly a third, was unanimously approved by Alcan, whose stock jumped 10%. See full story.
Intel Corp. (INTC :
Intel Corporation
Last: 26.00+1.43+5.82%
8:10pm 07/12/2007
Delayed quote data
Sponsored by:
INTC26.00, +1.43, +5.8%) was the second biggest gainer on the Dow, rising 5.8% to $26 after Banc of America Securities raised its price target to $29 from $28 previously and lifted its second-quarter estimates.
Also among blue chips, Wal-Mart (WMT :
Wal-Mart Stores, Inc
Last: 48.83+1.15+2.41%
8:20pm 07/12/2007
Delayed quote data
Sponsored by:
WMT48.83, +1.15, +2.4%) gained 2.4% after its June same-store sales beat expectations. Away from the Dow, Nordstrom (JWN :
Nordstrom Inc
Last: 48.94+0.72+1.49%
8:12pm 07/12/2007
Delayed quote data
Sponsored by:
JWN48.94, +0.72, +1.5%) and Limited Brands Inc. (LTD :
limited brands inc com
Last: 27.55+0.02+0.07%
8:13pm 07/12/2007
Delayed quote data
Sponsored by:
LTD27.55, +0.02, +0.1%) also topped expectations. See full story.
The S&P 500 ($SPX :
S&P 500 Index
Last: 1,547.70+28.94+1.91%
4:59pm 07/12/2007
Delayed quote data
Sponsored by:
$SPX1,547.70, +28.94, +1.9%) rose 29 points to 1,547, while the Nasdaq Composite (COMP :
Nasdaq Composite Index
Last: 2,701.73+49.94+1.88%
8:00pm 07/12/2007
Delayed quote data
Sponsored by:
COMP2,701.73, +49.94, +1.9%) gained 49 points to 2,701.
Trading volumes showed 1.6 billion shares exchanging hands on the New York Stock Exchange and 2.3 billion trading on the Nasdaq. Advancing issues topped decliners by 3 to 1 on the NYSE and by 21 to 8 on Nasdaq.
Bouncing back
Stocks also continued a bounce from the previous session. The market sold off on Tuesday amid worries that the meltdown in the subprime mortgage market will spill over to other portions of the economy and financial markets.
Fears that tighter lending standards might slow mergers and acquisitions activity, including private-equity buyouts, have yet to be confirmed.
"We have those one-day scares, that knock the lights out of the market," said Windham's Paul Mendelsohn. "But one day, that's all they last."

Market Overview

Market Summary USAAMERICASEUROPEASIACURRENCIES

Major Market Indexes
Industry Indexes
International Indexes
Sector Performance
Rates
DJIA 13,861.73    +283.86    +2.09%
Nasdaq 2,701.73    +49.94    +1.88%
S&P 500 1,547.70    +28.94    +1.91%
Dow Util 510.35    +7.34    +1.46%
NYSE 10,197.69    +183.01    +1.83%
AMEX 2,397.08    +15.45    +0.65%
 
 
ed88ks     13-Jul-2007 04:12  
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Dow Posts Biggest Gain in Four Years



The Dow shot up 283.86, or 2.09 percent, to 13,861.73; its previous record close is 13,676.32, also set June 4.

the S&P 500 rose 28.94, or 1.91 percent, to 1,547.70, above its record close of 1,539.18, set June 4.
 
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