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Synapse , feeling great , we gonna have agreat day Friday 13th, DOW up 200+ , tes, the fear is over, for now till August. if u look at the chart it's up from the bell all the way, cheer...........let hope it close this way.....

 

Quotes: BloomBerg News.

U.S. Stocks Gain, Dow Average Rises Above Record; Alcoa Rallies


By Eric Martin

July 12 (Bloomberg) -- U.S. stocks rallied as better-than- expected sales at retailers, higher oil prices and speculation Alcoa Inc. may be bought sent the Dow Jones Industrial Average to a record.

Wal-Mart Stores Inc., the world's largest retailer, posted its biggest gain in a month after June same-store sales tripled analysts' predictions. Exxon Mobil Corp., the world's biggest energy company, rose after oil climbed above $73 a barrel. Aluminum producer Alcoa accounted for about a fifth of the Dow's advance as Rio Tinto Group's plan to buy Alcan Inc. spurred expectations of more takeovers in the metals industry.

June sales results at Wal-Mart, J.C. Penney Co. and Costco Wholesale Corp. eased concern that the housing slump and surging energy prices would cripple consumer spending, which accounts for more than two-thirds of the U.S. economy.

``Consumer spending is holding up,'' said James Fisher, senior portfolio manager with M&T Investment Group in Horsham, Pennsylvania. ``That's probably the main reason why the markets are up today.''

The S&P 500 added 12.53, or 0.8 percent, to 1531.29 as of 11:28 a.m. in New York. The Dow average climbed 142.58, or 1.1 percent, to 13,720.45, above its June 4 record close of 13,676.32. The Nasdaq Composite Index increased 19.38, or 0.7 percent, to 2671.17.

Wal-Mart, Alcoa

Wal-Mart advanced $1.02, or 2.1 percent, to $48.70. June sales at U.S. stores open at least a year rose 2.4 percent, exceeding the company's forecast of 2 percent or less.

J.C. Penney gained $2.61 to $73.77.

Costco added 17 cents to $60.89 after the largest U.S. warehouse club said June same-store sales increased 6 percent, exceeding the estimate of 5.9 percent.

Alcoa rallied $2.89, or 6.8 percent, to $45.32 after Rio Tinto Group, the world's third-largest mining company, agreed to buy Alcan Inc. Rio will pay $101 for each Alcan share, a 13 percent premium to yesterday's closing price of $89.60, the London-based company said today in a statement. The offer is 33 percent higher than Alcoa's bid of $76 a share.

BHP Billiton Ltd. will attempt to buy Alcoa ``in a relatively short space of time'' if Alcoa fails to buy Alcan, said John Meyer, a director of mining-equity sales at Numis Securities in London.

Energy shares advanced after crude oil rose 65 cents to $73.21 a barrel in New York on a government report showing supplies dropped because of a decline in imports.

Exxon Mobil Corp., the world's largest energy company, advanced 80 cents to $88.09. ConocoPhillips, the second-biggest U.S. oil producer, jumped $1.22 to $86.81.

ImClone, Motorola

ImClone Systems Inc. fell $2.27, or 6.3 percent, to $33.63. The company's drug Erbitux failed to slow tumor growth in lung cancer patients, a study found, a setback for ImClone's plan to expand the market for its only product.

The U.S. trade deficit widened in May as a jump in imported oil costs outpaced record exports. The gap in goods and services trade expanded 2.3 percent to $60 billion from $58.7 billion in April, the Commerce Department said. The deficit matched the median forecast of 71 economists surveyed by Bloomberg News.

Initial jobless claims decreased by 12,000 to 308,000 in the week that ended July 7, the Labor Department said. The four-week moving average, a less volatile measure, dropped to 317,750 from 319,250. Economists in a survey had forecast 315,000.

To contact the reporters on this story: Eric Martin in New York at emartin21@bloomberg.net

Last Updated: July 12, 2007 11:30 EDT

 

Hi ed88ks, how are you doing? Looks like fears of a triple top would be abated if Dow closes strongly tonight.

 

break record tonite all time high

 

Hi TA gurus, SJ members, anyone can help us understand what's the meaning of "Triple top" and what are the implications effects on the stock markets?? Thanks.

QUOTES:




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.

 

 

DOW is up 76.17 pts (or 0.56%) to 13,577.87.

Market Overview

Market Summary USAAMERICASEUROPEASIACURRENCIES Major Market Indexes Industry Indexes International Indexes Sector Performance Rates DJIA 13,577.87    +76.17    +0.56% Nasdaq 2,651.79    +12.63    +0.48% S&P 500 1,518.76    +8.64    +0.57% Dow Util 503.01    +2.52    +0.50% NYSE 10,014.68    +61.11    +0.61% AMEX 2,381.63    +22.73    +0.96% Russell 2000 839.97    +2.49    +0.30% Semcond 516.00    -0.55    -0.11% Gold future 662.10    -2.30    -0.35% 30-Year Bond 5.18%    +0.05    +0.99% 10-Year Bond 5.08%    +0.04    +0.83%  Market Diaries Issues: NYSE Nasdaq Advancing  1,742  1,620 Declining  1,532  1,414 Unchanged  119  147 Total:  3,393  3,181 Issues at: 52-Week High  66  70 52-Week Low  40  75 Volume: Advancing  956,347,000  1,250,057,000 Declining  538,439,000  713,721,000 Unchanged  29,403,000  32,137,000 Total:  1,524,189,000  1,995,915,000 7/11/2007 7:59:00 PM Market Screener NYSENASDAQAMEXOTC Most Active by Volume on 7/11/2007 Symbol Last Change Volume F 8.90    -0.190 69.50M   MU 13.84    +0.300 44.46M   PFE 25.45    -0.130 43.90M   MOT 17.95    +0.330 41.56M   SLM 49.50    -5.650 33.78M   GE 38.20    +0.300 33.29M   EMC 18.92    +0.200 30.64M   JPM 48.13    +0.620 27.24M   C 51.41    +0.410 25.19M   BAC 48.51    +0.150 24.18M    Add symbols to My Portfolio

 

QUOTES:

 

 -- U.S. stocks finished lower on Monday, with the Dow Jones Industrial Average losing earlier gains of up to 120 points, as jitters resurfaced about the impact of the distressed subprime mortgage market and of higher interest rates on financial firms.