S&P 500 1,129.44 -1.38%
NASDAQ 2,030.08 -1.71%
Leading Sectors
Fashion +1.65%
Transports -.78%
Drugs -.80%
Lagging Sectors
Networking -3.14%
Nanotechnology -3.23%
Iron/Steel -3.78%
Other
Crude Oil 37.21 unch.
Natural Gas 5.79 unch.
Gold 407.50 -.05%
Base Metals 110.51 -.91%
U.S. Dollar 89.88 +.07%
10-Yr. Long-Bond Yield 4.34% +2.68%
VIX 17.26 +12.96%
Put/Call .91 +21.33%
NYSE Arms 1.17 +44.44%
After-hours Movers
MWY +8.28% after Sumner Redstone, their biggest investor, said he may seek a board seat, boost his stake or take control of the company.
ADTN +6.72% after beating 4Q estimates.
Recommendations
Goldman Sachs reiterated Outperform on HD, CLX and BBY. Cramer, of TheStreet.com is recommending cable stocks.
After-hours News
U.S. stocks finished lower as a much stronger-than-expected retail sales report sparked inflation fears and sent interest rates higher. After the close, Blockbuster may pay a one-time dividend of $1B, or $4 to $6 a share, as part of a spin-off from Viacom, CNBC reported. Intel said its first-quarter net income almost doubled to $1.73B as the company boosted sales of its more profitable processors used in servers. Sales rose to $8.1B versus analysts' expectations of $8.16B.
BOTTOM LINE: The Portfolio fell slightly today as my shorts fell substantially, offsetting most of the declines in my long positions. I did not trade today, leaving the Portfolio with 75% net long market exposure. I expect interest-rate sensitive stocks to remain under pressure for awhile.
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