Today's Open: Slightly Up

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Millionaire Now! by Larry Nusbaum

This blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth".

Today's Open: Slightly Up

Posted on 04/17/2007 12:58:47 | Link | Post Comment

Stocks Are At New Highs!
PICTURED BELOW: The Healthcare ($HMO +1.33%) index clears resistance as it jumps out of a three month base.

Futures erase earlier weakness as investors discount prospects for further Fed rate hike. Earnings reports also to galvanize trading.

Yesterday, the S&P 500 index jumped to a fresh 52-week high and reached its highest level in more than six years as a slew of positive factors helped the Street. Volume was mixed, higher on the NYSE and lower on the Nasdaq exchange. Breadth was positive as advancers led decliners by greater than a 2-to-1 ratio on the NYSE and Nasdaq exchange. The number of new 52-week highs trumped new 52-week lows on both exchanges.

Yesterday, the very influential Retail ($RLX +1.28%) and financial groups helped boost the major averages as the Broker/Dealer ($XBD +3.30%) and Bank ($BKX +1.96%) index were among Monday's positives. The Healthcare ($HMO +1.33%) care index broke out of a three month base and closed at its session's high. The tech sector also enjoyed widespread gains as the Internet ($DOT +1.17%), Software ($GSO +1.03%), Networking ($NWX +1.01%), Biotech ($BTK +0.72%), and Semiconductor ($SOX +0.33%) indexes rallied. Energy related shares gained as the Oil Services ($OSX +0.94%) and Integrated Oil ($XOI +0.04%) rose. There was a modest gain for the Gold & Silver ($XAU +0.74%) group.