S&P 500 1,197.75 -.75%
Dow 10,745.10 -.55%
NASDAQ 2,034.98 -.78%
Russell 2000 626.82 -.55%
DJ Wilshire 5000 11,812.06 -.69%
S&P Barra Growth 575.46 -.76%
S&P Barra Value 617.98 -.75%
Morgan Stanley Consumer 581.48 -.89%
Morgan Stanley Cyclical 776.56 -.41%
Morgan Stanley Technology 465.04 -1.13%
Transports 3,816.43 -.99%
Utilities 359.04 -.49%
Put/Call .83 -17.82%
NYSE Arms 1.36 +183.33%
Volatility(VIX) 13.15 +6.13%
ISE Sentiment 138.00 -2.82%
US Dollar 82.12 +.18%
CRB 320.50 +1.03%
Futures Spot Prices
Crude Oil 54.86 -.35%
Unleaded Gasoline 150.50 -.15%
Natural Gas 7.15 -.40%
Heating Oil 154.70 -.32%
Gold 441.30 -.02%
Base Metals 130.61 +.68%
Copper 148.70 -.23%
10-year US Treasury Yield 4.54% +.81%
Leading Sectors
Gaming +3.21%
Iron/Steel +.57%
HMOs +.38%
Lagging Sectors
Semis -2.12%
Biotech -2.17%
Airlines -2.53%
After-hours Movers
OPNT +15.22% after announcing a multi-year worldwide distribution agreement with Cisco Systems.
TIVO -4.48% on profit-taking after today’s substantial rise on Comcast deal.
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 AMGN, STN, GCI, PFE and ADP. Reiterated Underperform on FHN.
After-hours News
US stocks finished lower today on worries over domestic terrorism, rising interest rates and high energy prices. After the close, Quanta Computer, the word’s biggest maker of notebook computers, plans to start producing auto electronics products to diversify it range, the Commercial Times reported. The dollar advanced to the highest in a week against the euro after a government report showed demand among international investors for US assets rose in January to the most in almost two years, Bloomberg reported. OPEC is close to an agreement to increase output quotas for the fourth time in less than a year, Bloomberg said. Blockbuster’s hostile $833 million bid to purchase video-rental rival Hollywood Entertainment is opposed by the staff of the FTC, Bloomberg reported. Harvard University’s largest faculty group approved a no-confidence motion against President Lawrence Summers following his comments that women may lack the aptitude to excel in science and engineering, Bloomberg reported. Senate Democratic leader Harry Reid threatened to bring the Senate to a halt if Republicans try to prevent the minority party from blocking President Bush’s judicial nominees, Bloomberg said. The EPA set the first limits on mercury emissions from coal-fired power plants to reduce brain damage in children who eat fish contaminated with the poison, Bloomberg reported. A US Army lab is conducting tests today to determine whether live anthrax is in samples from Pentagon mail centers, after four postal units were closed because of concerns about a possible bioterrorist attack, Bloomberg said.
BOTTOM LINE: The Portfolio finished slightly lower today on losses in my Energy-related and Biotech longs. I did not trade in the afternoon, thus leaving the Portfolio 25% net short. The tone of the weakened further into the afternoon as the advance/decline line finished at its daily lows, most sectors declined and volume rose. The Gaming sector outperformed substantially, spurred by gains in STN and BYD. The Semis underperformed throughout the day and are trading close to support. I would become more concerned about the intermediate-term direction of technology shares if the SOX clearly broke down below 418. Overall, today’s market action was negative, considering good economic reports and recent losses. I continue to expect US stocks to trade mixed-to-weaker until energy prices and long-term interest rates stabilize.
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