QualityStocks Daily Video 5/23/2007

Welcome to The Daily Stock Report…brought to you by QualityStocks.Net, performance tracked daily. I’m Cathy Rankin and for Wednesday May 23rd we’re bringing you the latest news from around the markets as well as the top movers to look out for today… (HEADLINE NEWS) In Headline News Today… In similar fashion to yesterday’s session, the major averages finished mixed, with the underperforming Nasdaq again attracting the bulk of buying interest amid another rotation into more growth-oriented names. For a second straight session, the S&P 500 eclipsed its all-time closing high of 1527.46 intraday, but it again failed to sustain its momentum to finish there With the S&P 500 closing at new seven-year highs a day earlier, coupled with several indices near record levels, it wasn’t surprising to see the market looking tired Tuesday. After all, there was little in the way of market-moving news for the bulls to keep buying efforts intact Another day with nothing scheduled on the economic calendar also left investors struggling to find catalysts to keep a bid in equities. Treasury Secretary Paulson said the housing slump is “largely contained” and that its correction is mostly “behind us.” However, Richmond Fed President Lacker said in a CNBC interview that it’s not clear that housing demand “has hit bottom” and that the “inventory overhang” will continue to be a “drag.” As evidenced by the Nasdaq’s out performance, Technology turned in the day’s best performance; but it was …