Forex Investment

Watch today’s Markets Desk video.

Stocks tapered from morning highs through most of the day, adding only slightly to Wednesday’s strong performance.

Investors digested merger news, recovering Asian markets and mixed economic data before Friday’s heavy slate of economic reports.

The NYSE composite rose 0.2% after topping the 10,000 mark briefly intraday. The Nasdaq climbed 0.5%, with its finance, telecommunications and transportation indexes leading the upside.

The small-cap S&P 600 rose 0.5%. The midcap S&P 400 gained 0.6%. The Dow and S&P 500 closed essentially flat. Preliminary figures show NYSE volume rose 13%, Nasdaq volume finished 18% above Wednesday’s levels.

Gainers led losers by 4-to-3 on the NYSE, 3-to-2 on the Nasdaq. Leading stocks continued to make moves.

Apple () rose for a second day on huge volume, gaining 2.14 to 120.91. The jump followed an announcement that users of Apple TV would be able to stream content from YouTube.com, the video-Mecca owned by Google (). Apple stock is 25% above a 96.93 buy point on a 14-week cup-with-handle base.

Clothing retailer Guess () ticked up 1.21 to 44.21. The 3%, big-volume move broke the stock above the 43.42 buy point on a 14-week flat base.

Netgear () jumped 1.36 to 37.31. The increase, Netgear’s fourth straight, left shares 20% above a 31 buy point on a 13-week cup-with-handle base.

On the downside, specialty chemical maker Albermarle () slipped 1.16 to 40.64. The reversal ended three days of gains that had lifted shares near to their 50-day moving average. The stock has been consolidating since mid-April.

3 p.m. update: Stocks Trade Sideways In Late Dealings

By ALAN R. ELLIOTT

Stocks treaded the late-day waters.

Gold & silver miners and Internet networkers showed the best gains, home builders and discount retailers took the biggest hits.

Investors may be settling in to wait out a raft of upcoming economic data due out Friday, including the May jobs report and the ISM manufacturing index.

The NYSE composite was up 0.3%, the Nasdaq 0.4% at 2:47 p.m. ET. The S&P 500 held its 0.2% gain, with small-caps and midcaps leading the way. The Dow rose 0.1%. Volume remained higher.

Gainers led decliners 4-to-3 on the NYSE, 3-to-2 on the Nasdaq. Leading stocks continued to make moves.

Heico () made a third day of strong gains, popping 2.71 to 43.71. The 7% move, on more than seven times average volume, extended the stock’s May 21 breakout from a 12-week cup-with-handle base. Shares are now 13% above a 38.74 buy point.

J.Crew Group () spiked up 2.41 to 44.88 on double average volume. The move snapped the stock above the 43.15 buy point of a 26-week cup-with-handle base. Shares are now 3% above that buy point.

Pension Worldwide () gained 1.55 to 28.85 on nearly double average volume. The global securities processing services firm saw its stock fall out of an attempted breakout attempt in April. Thursday’s 6% move lifted shares to their 50-day moving average line for the first time in five weeks.

Shares of Force Protection (), a maker of armor for military and other vehicles, lost 1.12 to 29.15. The stock is now 17% above the 24.83 buy point from a cup-with-handle.

1 p.m. update: NYSE Stocks Surrender Early Gains; Nasdaq Holds Ground

By ALAN R. ELLIOTT

Stocks sputtered in midday trading after rushing higher early.

Better news on the jobs front and righted Asian markets failed to counteract a four-year low in Q1 GDP growth.

The NYSE composite slipped from its intraday high, but held to a 0.3% gain at 12:50 p.m. ET. The Nasdaq was up 0.5%, propped up by the exchange’s finance and transportation indexes, which rose 1.4% and 1.2% respectively.

The S&P 500 rose 0.2%, edging nearer to its intraday record set in March 2000. The Dow also added 0.2%, but remained below its intraday high. Volume was running higher across the board.

This morning, the Chicago Purchasing Managers’ Index for May returned a strong 61.7 showing. It was the second time the volatile index hit that mark in three months, suggesting the region’s business investment was climbing back on track.

Leading stocks continued to stage solid moves.

Sun Hydraulics () jumped 1.99 to 42.94. The stock broke above a two-year-old high earlier this month and has been nailing new highs on above-average volume.

RTI International Metals () rose 2.55 to 88.35. The 3% increase left the stock level with its 50-day moving average for the first time in four weeks. The stock began consolidating in April. It is now 13% below its April 23 high.

China-based Internet search engine Baidu.com () rose 5.07 to 140.76. The stock has climbed for four straight days, despite Wednesday’s meltdown of Chinese markets. The 4% rise followed the breakout from a 14-week cup-with-handle base. Shares broke out May 14 on heavy volume. The stock is now 6% above the 132.90 buy point.

Discount retail chain Big Lots () reversed lower, losing 3.22 to 32.38. The 9% drop on more than double average volume negated Wednesday’s breakout from a seven-week flat base, leaving shares resting on their 50-day moving average.

11 a.m. update: Stocks Rise On Mixed Economic Data, Rebound In China’s Markets

By ALAN R. ELLIOTT

A broad swath of stocks headed for higher ground on a combination of mixed economic news, merger and acquisition activity and a good day on Asia’s stock markets.

The NYSE composite was up 0.4% at 10:52 a.m. ET. The Nasdaq was up 0.5%, with its financial index once again registering the strongest gains. The S&P 500 built on Wednesday’s record close, adding 0.2%. The Dow also rose 0.2%.

NYSE volume was tracking 7% above Wednesday’s level. Nasdaq volume was up 19%.

Asian exchanges recovered powerfully from the day earlier’s losses. The Shanghai composite climbed 1.4% and Tokyo’s Nikkei 225 added 1.6%. European stocks held firm, with London’s FTSE 100 notching a 0.5% gain.

The U.S. economy grew more slowly than expected in the first quarter, with Commerce Department data showing a 0.6% increase, below expectations.

That was good news for those hoping that slower growth could lead the Federal Reserve to cut interest rates later this year, bad news for those banking on U.S. economic expansion. The GDP data was offset by Labor Department figures showing unemployment claims declined for the sixth time in seven weeks. The decline was not as sharp as expected, however.

Financial sector buyouts crowded the headlines, with Wachovia () agreeing to buy regional brokerage A.G. Edwards () for $6.8 billion. The deal would create one of the largest U.S. retail brokerages, and suggests more consolidation to come in the brokerage business.

Minneapolis-based payroll/payment processor Ceridian Corp. agreed to a $5.3 billion buyout offer from Thomas H. Lee Partners LP and Florida-based insurer Fidelity National Financial ().

A number of leading stocks made powerful moves in early trading.

Precision Castparts () gapped up, gaining 3.55 to 119.81. Debt rating agency Standard & Poor’s said Wednesday it would include the maker of specialized aerospace parts in its S&P 500 index. The 3% move pushed Precision shares to new highs on rising volume. The stock is now 11% extended above the 107.76 buy point on a recent pullback to its 50-day moving average line.

Google () rose 5.14 to 503.74. The dominant Internet search engine provider, its $3.1 billion acquisition of online advertising company DoubleClick is under review by the Federal Trade Commission, but most expect the deal to be approved. The stock’s 1% move follows two days of heavy-volume gains that broke it out of a consolidation begun in January. Shares remain 2% below the highs notched in January.

China Petroleum & Chemical () gapped up, adding 6.30 to 109.69. China’s largest refiner, also known as Sinopec, broke out of an 18-week, cup-with-handle base early in May. It’s now 16% above the 94.88 buypoint.

Watch today’s Markets Desk video.

Stocks tapered from morning highs through most of the day, adding only slightly to Wednesday’s strong performance.

Investors digested merger news, recovering Asian markets and mixed economic data before Friday’s heavy slate of economic reports.

The NYSE composite rose 0.2% after topping the 10,000 mark briefly intraday. The Nasdaq climbed 0.5%, with its finance, telecommunications and transportation indexes leading the upside.

The small-cap S&P 600 rose 0.5%. The midcap S&P 400 gained 0.6%. The Dow and S&P 500 closed essentially flat. Preliminary figures show NYSE volume rose 13%, Nasdaq volume finished 18% above Wednesday’s levels.

Gainers led losers by 4-to-3 on the NYSE, 3-to-2 on the Nasdaq. Leading stocks continued to make moves.

Apple () rose for a second day on huge volume, gaining 2.14 to 120.91. The jump followed an announcement that users of Apple TV would be able to stream content from YouTube.com, the video-Mecca owned by Google (). Apple stock is 25% above a 96.93 buy point on a 14-week cup-with-handle base.

Clothing retailer Guess () ticked up 1.21 to 44.21. The 3%, big-volume move broke the stock above the 43.42 buy point on a 14-week flat base.

Netgear () jumped 1.36 to 37.31. The increase, Netgear’s fourth straight, left shares 20% above a 31 buy point on a 13-week cup-with-handle base.

On the downside, specialty chemical maker Albermarle () slipped 1.16 to 40.64. The reversal ended three days of gains that had lifted shares near to their 50-day moving average. The stock has been consolidating since mid-April.

3 p.m. update: Stocks Trade Sideways In Late Dealings

By ALAN R. ELLIOTT

Stocks treaded the late-day waters.

Gold & silver miners and Internet networkers showed the best gains, home builders and discount retailers took the biggest hits.

Investors may be settling in to wait out a raft of upcoming economic data due out Friday, including the May jobs report and the ISM manufacturing index.

The NYSE composite was up 0.3%, the Nasdaq 0.4% at 2:47 p.m. ET. The S&P 500 held its 0.2% gain, with small-caps and midcaps leading the way. The Dow rose 0.1%. Volume remained higher.

Gainers led decliners 4-to-3 on the NYSE, 3-to-2 on the Nasdaq. Leading stocks continued to make moves.

Heico () made a third day of strong gains, popping 2.71 to 43.71. The 7% move, on more than seven times average volume, extended the stock’s May 21 breakout from a 12-week cup-with-handle base. Shares are now 13% above a 38.74 buy point.

J.Crew Group () spiked up 2.41 to 44.88 on double average volume. The move snapped the stock above the 43.15 buy point of a 26-week cup-with-handle base. Shares are now 3% above that buy point.

Pension Worldwide () gained 1.55 to 28.85 on nearly double average volume. The global securities processing services firm saw its stock fall out of an attempted breakout attempt in April. Thursday’s 6% move lifted shares to their 50-day moving average line for the first time in five weeks.

Shares of Force Protection (), a maker of armor for military and other vehicles, lost 1.12 to 29.15. The stock is now 17% above the 24.83 buy point from a cup-with-handle.

1 p.m. update: NYSE Stocks Surrender Early Gains; Nasdaq Holds Ground

By ALAN R. ELLIOTT

Stocks sputtered in midday trading after rushing higher early.

Better news on the jobs front and righted Asian markets failed to counteract a four-year low in Q1 GDP growth.

The NYSE composite slipped from its intraday high, but held to a 0.3% gain at 12:50 p.m. ET. The Nasdaq was up 0.5%, propped up by the exchange’s finance and transportation indexes, which rose 1.4% and 1.2% respectively.

The S&P 500 rose 0.2%, edging nearer to its intraday record set in March 2000. The Dow also added 0.2%, but remained below its intraday high. Volume was running higher across the board.

This morning, the Chicago Purchasing Managers’ Index for May returned a strong 61.7 showing. It was the second time the volatile index hit that mark in three months, suggesting the region’s business investment was climbing back on track.

Leading stocks continued to stage solid moves.

Sun Hydraulics () jumped 1.99 to 42.94. The stock broke above a two-year-old high earlier this month and has been nailing new highs on above-average volume.

RTI International Metals () rose 2.55 to 88.35. The 3% increase left the stock level with its 50-day moving average for the first time in four weeks. The stock began consolidating in April. It is now 13% below its April 23 high.

China-based Internet search engine Baidu.com () rose 5.07 to 140.76. The stock has climbed for four straight days, despite Wednesday’s meltdown of Chinese markets. The 4% rise followed the breakout from a 14-week cup-with-handle base. Shares broke out May 14 on heavy volume. The stock is now 6% above the 132.90 buy point.

Discount retail chain Big Lots () reversed lower, losing 3.22 to 32.38. The 9% drop on more than double average volume negated Wednesday’s breakout from a seven-week flat base, leaving shares resting on their 50-day moving average.

11 a.m. update: Stocks Rise On Mixed Economic Data, Rebound In China’s Markets

By ALAN R. ELLIOTT

A broad swath of stocks headed for higher ground on a combination of mixed economic news, merger and acquisition activity and a good day on Asia’s stock markets.

The NYSE composite was up 0.4% at 10:52 a.m. ET. The Nasdaq was up 0.5%, with its financial index once again registering the strongest gains. The S&P 500 built on Wednesday’s record close, adding 0.2%. The Dow also rose 0.2%.

NYSE volume was tracking 7% above Wednesday’s level. Nasdaq volume was up 19%.

Asian exchanges recovered powerfully from the day earlier’s losses. The Shanghai composite climbed 1.4% and Tokyo’s Nikkei 225 added 1.6%. European stocks held firm, with London’s FTSE 100 notching a 0.5% gain.

The U.S. economy grew more slowly than expected in the first quarter, with Commerce Department data showing a 0.6% increase, below expectations.

That was good news for those hoping that slower growth could lead the Federal Reserve to cut interest rates later this year, bad news for those banking on U.S. economic expansion. The GDP data was offset by Labor Department figures showing unemployment claims declined for the sixth time in seven weeks. The decline was not as sharp as expected, however.

Financial sector buyouts crowded the headlines, with Wachovia () agreeing to buy regional brokerage A.G. Edwards () for $6.8 billion. The deal would create one of the largest U.S. retail brokerages, and suggests more consolidation to come in the brokerage business.

Minneapolis-based payroll/payment processor Ceridian Corp. agreed to a $5.3 billion buyout offer from Thomas H. Lee Partners LP and Florida-based insurer Fidelity National Financial ().

A number of leading stocks made powerful moves in early trading.

Precision Castparts () gapped up, gaining 3.55 to 119.81. Debt rating agency Standard & Poor’s said Wednesday it would include the maker of specialized aerospace parts in its S&P 500 index. The 3% move pushed Precision shares to new highs on rising volume. The stock is now 11% extended above the 107.76 buy point on a recent pullback to its 50-day moving average line.

Google () rose 5.14 to 503.74. The dominant Internet search engine provider, its $3.1 billion acquisition of online advertising company DoubleClick is under review by the Federal Trade Commission, but most expect the deal to be approved. The stock’s 1% move follows two days of heavy-volume gains that broke it out of a consolidation begun in January. Shares remain 2% below the highs notched in January.

China Petroleum & Chemical () gapped up, adding 6.30 to 109.69. China’s largest refiner, also known as Sinopec, broke out of an 18-week, cup-with-handle base early in May. It’s now 16% above the 94.88 buypoint.

Watch today’s Markets Desk video.

Stocks tapered from morning highs through most of the day, adding only slightly to Wednesday’s strong performance.

Investors digested merger news, recovering Asian markets and mixed economic data before Friday’s heavy slate of economic reports.

The NYSE composite rose 0.2% after topping the 10,000 mark briefly intraday. The Nasdaq climbed 0.5%, with its finance, telecommunications and transportation indexes leading the upside.

The small-cap S&P 600 rose 0.5%. The midcap S&P 400 gained 0.6%. The Dow and S&P 500 closed essentially flat. Preliminary figures show NYSE volume rose 13%, Nasdaq volume finished 18% above Wednesday’s levels.

Gainers led losers by 4-to-3 on the NYSE, 3-to-2 on the Nasdaq. Leading stocks continued to make moves.

Apple () rose for a second day on huge volume, gaining 2.14 to 120.91. The jump followed an announcement that users of Apple TV would be able to stream content from YouTube.com, the video-Mecca owned by Google (). Apple stock is 25% above a 96.93 buy point on a 14-week cup-with-handle base.

Clothing retailer Guess () ticked up 1.21 to 44.21. The 3%, big-volume move broke the stock above the 43.42 buy point on a 14-week flat base.

Netgear () jumped 1.36 to 37.31. The increase, Netgear’s fourth straight, left shares 20% above a 31 buy point on a 13-week cup-with-handle base.

On the downside, specialty chemical maker Albermarle () slipped 1.16 to 40.64. The reversal ended three days of gains that had lifted shares near to their 50-day moving average. The stock has been consolidating since mid-April.

3 p.m. update: Stocks Trade Sideways In Late Dealings

By ALAN R. ELLIOTT

Stocks treaded the late-day waters.

Gold & silver miners and Internet networkers showed the best gains, home builders and discount retailers took the biggest hits.

Investors may be settling in to wait out a raft of upcoming economic data due out Friday, including the May jobs report and the ISM manufacturing index.

The NYSE composite was up 0.3%, the Nasdaq 0.4% at 2:47 p.m. ET. The S&P 500 held its 0.2% gain, with small-caps and midcaps leading the way. The Dow rose 0.1%. Volume remained higher.

Gainers led decliners 4-to-3 on the NYSE, 3-to-2 on the Nasdaq. Leading stocks continued to make moves.

Heico () made a third day of strong gains, popping 2.71 to 43.71. The 7% move, on more than seven times average volume, extended the stock’s May 21 breakout from a 12-week cup-with-handle base. Shares are now 13% above a 38.74 buy point.

J.Crew Group () spiked up 2.41 to 44.88 on double average volume. The move snapped the stock above the 43.15 buy point of a 26-week cup-with-handle base. Shares are now 3% above that buy point.

Pension Worldwide () gained 1.55 to 28.85 on nearly double average volume. The global securities processing services firm saw its stock fall out of an attempted breakout attempt in April. Thursday’s 6% move lifted shares to their 50-day moving average line for the first time in five weeks.

Shares of Force Protection (), a maker of armor for military and other vehicles, lost 1.12 to 29.15. The stock is now 17% above the 24.83 buy point from a cup-with-handle.

1 p.m. update: NYSE Stocks Surrender Early Gains; Nasdaq Holds Ground

By ALAN R. ELLIOTT

Stocks sputtered in midday trading after rushing higher early.

Better news on the jobs front and righted Asian markets failed to counteract a four-year low in Q1 GDP growth.

The NYSE composite slipped from its intraday high, but held to a 0.3% gain at 12:50 p.m. ET. The Nasdaq was up 0.5%, propped up by the exchange’s finance and transportation indexes, which rose 1.4% and 1.2% respectively.

The S&P 500 rose 0.2%, edging nearer to its intraday record set in March 2000. The Dow also added 0.2%, but remained below its intraday high. Volume was running higher across the board.

This morning, the Chicago Purchasing Managers’ Index for May returned a strong 61.7 showing. It was the second time the volatile index hit that mark in three months, suggesting the region’s business investment was climbing back on track.

Leading stocks continued to stage solid moves.

Sun Hydraulics () jumped 1.99 to 42.94. The stock broke above a two-year-old high earlier this month and has been nailing new highs on above-average volume.

RTI International Metals () rose 2.55 to 88.35. The 3% increase left the stock level with its 50-day moving average for the first time in four weeks. The stock began consolidating in April. It is now 13% below its April 23 high.

China-based Internet search engine Baidu.com () rose 5.07 to 140.76. The stock has climbed for four straight days, despite Wednesday’s meltdown of Chinese markets. The 4% rise followed the breakout from a 14-week cup-with-handle base. Shares broke out May 14 on heavy volume. The stock is now 6% above the 132.90 buy point.

Discount retail chain Big Lots () reversed lower, losing 3.22 to 32.38. The 9% drop on more than double average volume negated Wednesday’s breakout from a seven-week flat base, leaving shares resting on their 50-day moving average.

11 a.m. update: Stocks Rise On Mixed Economic Data, Rebound In China’s Markets

By ALAN R. ELLIOTT

A broad swath of stocks headed for higher ground on a combination of mixed economic news, merger and acquisition activity and a good day on Asia’s stock markets.

The NYSE composite was up 0.4% at 10:52 a.m. ET. The Nasdaq was up 0.5%, with its financial index once again registering the strongest gains. The S&P 500 built on Wednesday’s record close, adding 0.2%. The Dow also rose 0.2%.

NYSE volume was tracking 7% above Wednesday’s level. Nasdaq volume was up 19%.

Asian exchanges recovered powerfully from the day earlier’s losses. The Shanghai composite climbed 1.4% and Tokyo’s Nikkei 225 added 1.6%. European stocks held firm, with London’s FTSE 100 notching a 0.5% gain.

The U.S. economy grew more slowly than expected in the first quarter, with Commerce Department data showing a 0.6% increase, below expectations.

That was good news for those hoping that slower growth could lead the Federal Reserve to cut interest rates later this year, bad news for those banking on U.S. economic expansion. The GDP data was offset by Labor Department figures showing unemployment claims declined for the sixth time in seven weeks. The decline was not as sharp as expected, however.

Financial sector buyouts crowded the headlines, with Wachovia () agreeing to buy regional brokerage A.G. Edwards () for $6.8 billion. The deal would create one of the largest U.S. retail brokerages, and suggests more consolidation to come in the brokerage business.

Minneapolis-based payroll/payment processor Ceridian Corp. agreed to a $5.3 billion buyout offer from Thomas H. Lee Partners LP and Florida-based insurer Fidelity National Financial ().

A number of leading stocks made powerful moves in early trading.

Precision Castparts () gapped up, gaining 3.55 to 119.81. Debt rating agency Standard & Poor’s said Wednesday it would include the maker of specialized aerospace parts in its S&P 500 index. The 3% move pushed Precision shares to new highs on rising volume. The stock is now 11% extended above the 107.76 buy point on a recent pullback to its 50-day moving average line.

Google () rose 5.14 to 503.74. The dominant Internet search engine provider, its $3.1 billion acquisition of online advertising company DoubleClick is under review by the Federal Trade Commission, but most expect the deal to be approved. The stock’s 1% move follows two days of heavy-volume gains that broke it out of a consolidation begun in January. Shares remain 2% below the highs notched in January.

China Petroleum & Chemical () gapped up, adding 6.30 to 109.69. China’s largest refiner, also known as Sinopec, broke out of an 18-week, cup-with-handle base early in May. It’s now 16% above the 94.88 buypoint.

Watch today’s Markets Desk video.

Stocks tapered from morning highs through most of the day, adding only slightly to Wednesday’s strong performance.

Investors digested merger news, recovering Asian markets and mixed economic data before Friday’s heavy slate of economic reports.

The NYSE composite rose 0.2% after topping the 10,000 mark briefly intraday. The Nasdaq climbed 0.5%, with its finance, telecommunications and transportation indexes leading the upside.

The small-cap S&P 600 rose 0.5%. The midcap S&P 400 gained 0.6%. The Dow and S&P 500 closed essentially flat. Preliminary figures show NYSE volume rose 13%, Nasdaq volume finished 18% above Wednesday’s levels.

Gainers led losers by 4-to-3 on the NYSE, 3-to-2 on the Nasdaq. Leading stocks continued to make moves.

Apple () rose for a second day on huge volume, gaining 2.14 to 120.91. The jump followed an announcement that users of Apple TV would be able to stream content from YouTube.com, the video-Mecca owned by Google (). Apple stock is 25% above a 96.93 buy point on a 14-week cup-with-handle base.

Clothing retailer Guess () ticked up 1.21 to 44.21. The 3%, big-volume move broke the stock above the 43.42 buy point on a 14-week flat base.

Netgear () jumped 1.36 to 37.31. The increase, Netgear’s fourth straight, left shares 20% above a 31 buy point on a 13-week cup-with-handle base.

On the downside, specialty chemical maker Albermarle () slipped 1.16 to 40.64. The reversal ended three days of gains that had lifted shares near to their 50-day moving average. The stock has been consolidating since mid-April.

3 p.m. update: Stocks Trade Sideways In Late Dealings

By ALAN R. ELLIOTT

Stocks treaded the late-day waters.

Gold & silver miners and Internet networkers showed the best gains, home builders and discount retailers took the biggest hits.

Investors may be settling in to wait out a raft of upcoming economic data due out Friday, including the May jobs report and the ISM manufacturing index.

The NYSE composite was up 0.3%, the Nasdaq 0.4% at 2:47 p.m. ET. The S&P 500 held its 0.2% gain, with small-caps and midcaps leading the way. The Dow rose 0.1%. Volume remained higher.

Gainers led decliners 4-to-3 on the NYSE, 3-to-2 on the Nasdaq. Leading stocks continued to make moves.

Heico () made a third day of strong gains, popping 2.71 to 43.71. The 7% move, on more than seven times average volume, extended the stock’s May 21 breakout from a 12-week cup-with-handle base. Shares are now 13% above a 38.74 buy point.

J.Crew Group () spiked up 2.41 to 44.88 on double average volume. The move snapped the stock above the 43.15 buy point of a 26-week cup-with-handle base. Shares are now 3% above that buy point.

Pension Worldwide () gained 1.55 to 28.85 on nearly double average volume. The global securities processing services firm saw its stock fall out of an attempted breakout attempt in April. Thursday’s 6% move lifted shares to their 50-day moving average line for the first time in five weeks.

Shares of Force Protection (), a maker of armor for military and other vehicles, lost 1.12 to 29.15. The stock is now 17% above the 24.83 buy point from a cup-with-handle.

1 p.m. update: NYSE Stocks Surrender Early Gains; Nasdaq Holds Ground

By ALAN R. ELLIOTT

Stocks sputtered in midday trading after rushing higher early.

Better news on the jobs front and righted Asian markets failed to counteract a four-year low in Q1 GDP growth.

The NYSE composite slipped from its intraday high, but held to a 0.3% gain at 12:50 p.m. ET. The Nasdaq was up 0.5%, propped up by the exchange’s finance and transportation indexes, which rose 1.4% and 1.2% respectively.

The S&P 500 rose 0.2%, edging nearer to its intraday record set in March 2000. The Dow also added 0.2%, but remained below its intraday high. Volume was running higher across the board.

This morning, the Chicago Purchasing Managers’ Index for May returned a strong 61.7 showing. It was the second time the volatile index hit that mark in three months, suggesting the region’s business investment was climbing back on track.

Leading stocks continued to stage solid moves.

Sun Hydraulics () jumped 1.99 to 42.94. The stock broke above a two-year-old high earlier this month and has been nailing new highs on above-average volume.

RTI International Metals () rose 2.55 to 88.35. The 3% increase left the stock level with its 50-day moving average for the first time in four weeks. The stock began consolidating in April. It is now 13% below its April 23 high.

China-based Internet search engine Baidu.com () rose 5.07 to 140.76. The stock has climbed for four straight days, despite Wednesday’s meltdown of Chinese markets. The 4% rise followed the breakout from a 14-week cup-with-handle base. Shares broke out May 14 on heavy volume. The stock is now 6% above the 132.90 buy point.

Discount retail chain Big Lots () reversed lower, losing 3.22 to 32.38. The 9% drop on more than double average volume negated Wednesday’s breakout from a seven-week flat base, leaving shares resting on their 50-day moving average.

11 a.m. update: Stocks Rise On Mixed Economic Data, Rebound In China’s Markets

By ALAN R. ELLIOTT

A broad swath of stocks headed for higher ground on a combination of mixed economic news, merger and acquisition activity and a good day on Asia’s stock markets.

The NYSE composite was up 0.4% at 10:52 a.m. ET. The Nasdaq was up 0.5%, with its financial index once again registering the strongest gains. The S&P 500 built on Wednesday’s record close, adding 0.2%. The Dow also rose 0.2%.

NYSE volume was tracking 7% above Wednesday’s level. Nasdaq volume was up 19%.

Asian exchanges recovered powerfully from the day earlier’s losses. The Shanghai composite climbed 1.4% and Tokyo’s Nikkei 225 added 1.6%. European stocks held firm, with London’s FTSE 100 notching a 0.5% gain.

The U.S. economy grew more slowly than expected in the first quarter, with Commerce Department data showing a 0.6% increase, below expectations.

That was good news for those hoping that slower growth could lead the Federal Reserve to cut interest rates later this year, bad news for those banking on U.S. economic expansion. The GDP data was offset by Labor Department figures showing unemployment claims declined for the sixth time in seven weeks. The decline was not as sharp as expected, however.

Financial sector buyouts crowded the headlines, with Wachovia () agreeing to buy regional brokerage A.G. Edwards () for $6.8 billion. The deal would create one of the largest U.S. retail brokerages, and suggests more consolidation to come in the brokerage business.

Minneapolis-based payroll/payment processor Ceridian Corp. agreed to a $5.3 billion buyout offer from Thomas H. Lee Partners LP and Florida-based insurer Fidelity National Financial ().

A number of leading stocks made powerful moves in early trading.

Precision Castparts () gapped up, gaining 3.55 to 119.81. Debt rating agency Standard & Poor’s said Wednesday it would include the maker of specialized aerospace parts in its S&P 500 index. The 3% move pushed Precision shares to new highs on rising volume. The stock is now 11% extended above the 107.76 buy point on a recent pullback to its 50-day moving average line.

Google () rose 5.14 to 503.74. The dominant Internet search engine provider, its $3.1 billion acquisition of online advertising company DoubleClick is under review by the Federal Trade Commission, but most expect the deal to be approved. The stock’s 1% move follows two days of heavy-volume gains that broke it out of a consolidation begun in January. Shares remain 2% below the highs notched in January.

China Petroleum & Chemical () gapped up, adding 6.30 to 109.69. China’s largest refiner, also known as Sinopec, broke out of an 18-week, cup-with-handle base early in May. It’s now 16% above the 94.88 buypoint.