S&P 500 1,219.43 -.48%
Dow 10,912.62 -.22%
NASDAQ 2,073.55 -.80%
Russell 2000 637.98 -.91%
DJ Wilshire 5000 12,008.00 -.53%
S&P Barra Growth 586.40 -.47%
S&P Barra Value 628.61 -.49%
Morgan Stanley Consumer 590.24 -.39%
Morgan Stanley Cyclical 781.41 -.20%
Morgan Stanley Technology 476.35 -.99%
Transports 3,872.17 -.10%
Utilities 360.80 -.68%
Put/Call .87 +14.47%
NYSE Arms 1.29 +67.53%
Volatility(VIX) 12.40 +1.14%
ISE Sentiment 176.00 +4.14%
US Dollar 81.98 -.98%
CRB 312.65 +1.06%
Futures Spot Prices
Crude Oil 54.55 -.07%
Unleaded Gasoline 153.60 +.05%
Natural Gas 6.86 +.26%
Heating Oil 152.55 +.11%
Gold 441.50 +.09%
Base Metals 131.25 +.98%
Copper 149.60 -.23%
10-year US Treasury Yield 4.38% +1.71%
Leading Sectors
Defense +.27%
Insurance +.08%
Commodity +.07%
Lagging Sectors
Homebuilders -1.88%
Gaming -1.94%
Iron/Steel -2.29%
After-hours Movers
- RETK +16.7% after Oracle said it plans to make a $504 million takeover offer for it, sparking a bidding war with larger competitor SAP AG.
- NGPS +4.2% after announcing that an order for additional Space Based Augmentation System equipment was received from Raytheon Company in support of the Indian GAGAN program.
- MMSI +6.52% after beating 4Q estimates and raising 05 outlook.
- HLTH +5.7% after meeting 4Q estimates and raising 05 guidance.
- WPTE -8.8% after missing 4Q estimates and lowering 1Q outlook.
- SEAC -5.6% after missing 4Q estimates and lowering 1Q guidance.
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 TAP and MO.
After-hours News
US stocks finished modestly lower today on worries over rising energy prices and interest rates. After the close, Iraq’s national security adviser said ousted dictator Saddam Hussein could go on trial by the end of the year, the NY Times reported. Russian Defense Minister Ivanov raised the prospect of withdrawing from the 1987 Intermediate-Range Nuclear Forces treaty with the US, the Financial Times said. Oracle Corp. said it plans to offer $9 a share for Retek Inc., which provides software to retailers, Bloomberg said. Commuters in the northeastern US heading home tonight are facing airport delays and other transportation hurdles as a snowstorm moves up the Atlantic coast, Bloomberg reported. Republican lawmakers revived legislation that would allow Americans to put $5,000 a year in tax-sheltered investment accounts, a bid to lift personal savings rates, Bloomberg said. Israel will probably transfer security control of the West Bank cities of Jericho and Tulkarm to the Palestinians in the next few days, Bloomberg reported. Directors of Kerr-McGee Corp. approved plans to spin off or sell the company’s chemicals business and buy back $1 billion in shares, Bloomberg said. Wm. Wrigley Jr. Co. plans to expand beyond chewing-gum business though won’t make any large acquisitions, the Financial Times reported. Iran will make reforms to make its oil projects more attractive to international energy groups and to increase returns on investments, the Financial Times said.
BOTTOM LINE: The Portfolio finished slightly lower today as losses in my Homebuilding, Gaming and Semi longs mostly offset gains in my Chinese ADR, Biotech and Alternative Energy longs. I exited a few longs from various sectors in the afternoon as they hit stop-losses, thus leaving the Portfolio 100% net long. The tone of the market deteriorated into the afternoon as the advance/decline line finished at its daily lows, almost every sector declined and volume was light. Measures of investor anxiety were mostly higher. Technology stocks underperformed throughout the day on disappointing comments from Texas Instruments. Overall, today’s market action was mildly negative as the major US indices consolidated recent gains on low volume. Stocks will likely continue to trade mixed in the near-term until oil and interest rates stabilize.
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