Energy and technology have been strong performers over the past two days. Dow component Honeywell helped push blue chips higher after the diversified manufacturer raised its guidance for 2007. This news offset concerns about margins in the fourth-quarter of 2006, sending the stock higher by two percent. However, Exxon Mobile and DuPont provided the largest boost for the Dow, rising 1.77 percent and 2.67 percent respectively. The combination of these three stocks accounted for more than 27 Dow points.
Friday’s session will be highlighted by the consumer price index. If the CPI comes in higher than the 0.2 percent expected, it could hurt stock prices. However, if it falls below estimates, traders will be more likely to buy on hopes the Fed has room to cut rates. The wild card is Friday is an option expiration day. How much of today's activity was related to the expiring options?
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