S&P 500 1,174.28 +.24%
DJIA 10,485.65 +.41%
NASDAQ 1,992.52 +.07%
Russell 2000 615.12 -.02%
DJ Wilshire 5000 11,576.78 +.16%
S&P Barra Growth 576.53 +.29%
S&P Barra Value 602.36 +.20%
Morgan Stanley Consumer 574.89 +.17%
Morgan Stanley Cyclical 745.89 -.52%
Morgan Stanley Technology 453.07 -.07%
Transports 3,740.75 -.10%
Utilities 354.44 +.13%
Put/Call .66 +3.13%
NYSE Arms .85 -22.45%
Volatility(VIX) 13.75 +2.46%
ISE Sentiment 195.00 +12.72%
US Dollar 84.51 +.43%
CRB 307.36 +.16%
Futures Spot Prices
Crude Oil 53.85 -.37%
Unleaded Gasoline 156.70 -.36%
Natural Gas 7.00 +.01%
Heating Oil 154.00 -.49%
Gold 426.20 +.05%
Base Metals 127.52 -1.0%
Copper 145.45 unch.
10-year US Treasury Yield 4.64% +1.03%
Leading Sectors
Oil Service +1.31%
Insurance +1.29%
Retail +1.19%
Lagging Sectors
Broadcasting -1.13%
Biotech -1.33%
Iron/Steel -2.26%
After-hours Movers
HCA +7.96% after boosting 1Q guidance substantially.
Evening Review
Detailed Market Summary
Daily ETF Performance
Style Performance
Market Wrap CNBC Video(bottom right)
Futures Recap
S&P 500 Gallery View
Timely Economic Charts
PM Market Call
Real-time/After-hours Stock Quote
In Play
Afternoon Recommendations
Goldman Sachs:
- Reiterated Outperform on HCA, WAG and MUR.
Afternoon/Evening Headlines
Bloomberg:
- DreamWorks Animation SKG said investors including Microsoft co-founder Paul Allen plan to sell $500 million of stock five months after the company issued shares to the public.
- Qwest Communications said MCI Inc. must make a decision on whether to accept its $8.45 billion takeover offer by April 5.
- Parker Hannifin lowered its fiscal third-quarter and full-year earnings forecasts because of weaker-than-expected sales to automakers.
- Richard Fuld Jr., chairman of the board of directors and CEO of Lehman Brothers, has been named a director of the Federal Reserve Bank of NY.
- Saks Inc. said the SEC opened a formal investigation into whether the company improperly collected as much as $21.5 million from vendors.
- Crude oil futures fell a second day on speculation rising production from OPEC will be sufficient to meet demand from refiners.
- US 10-yr T-notes fell on speculation that Friday’s employment report would exceed expectations.
NY Times:
- The Univ. of Colorado plans to review the record of Professor Ward Churchill to examine accusations of academic misconduct.
Business Week:
- Hewlett-Packard may name its new chief executive officer as early as tomorrow, less than 2 months after the high-profile ouster of Carleton Fiorina from the company.
Korea Times:
- South Korea will start terrestrial digital multimedia broadcasting, which would enable people to enjoy free tv programming through handsets.
Kyodo News:
- The number of births in Japan last year fell more than some had expected to the lowest since the end of WWII.
Nikkei English News:
- Canon Inc. is expanding into the pharmaceutical industry with production of DNA chips using inkjet technology used in its computer printers.
BOTTOM LINE: US stocks finished slightly higher today as declining energy prices and merger activity mostly offset worries over higher interest rates and slowing global growth. The Portfolio finished slightly higher as gains in my Homebuilding shorts more than offset losses in my Software longs. I added a few new shorts in the afternoon, thus leaving the Portfolio market neutral. One of my new shorts is EBAY and I am using a $38 stop-loss on this position. The tone of the market deteriorated modestly into the close as the advance/decline line dropped to its daily lows, sector performance was mixed and volume remained very light. Cyclicals underperformed throughout the day and measures of investor anxiety were mixed. Overall, today’s market action was modestly negative, considering recent losses, declining energy prices, merger activity and a firming US dollar.
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