S&P 500 1,156.38 +.40%
DJIA 10,198.80 +.47%
NASDAQ 1,930.43 +.16%
Russell 2000 587.14 -.09%
DJ Wilshire 5000 11,382.91 +.30%
S&P Barra Growth 559.04 +.31%
S&P Barra Value 593.01 +.50%
Morgan Stanley Consumer 574.10 +.38%
Morgan Stanley Cyclical 697.86 -.56%
Morgan Stanley Technology 438.82 +.04%
Transports 3,417.54 +.38%
Utilities 368.24 +.72%
Put/Call 1.07 +42.67%
NYSE Arms .96 -45.92%
Volatility(VIX) 14.87 -.27%
ISE Sentiment 161.00 +25.78%
US Dollar 84.12 +.19%
CRB 305.88 -1.26%
Futures Spot Prices
Crude Oil 51.35 -.50%
Unleaded Gasoline 153.47 -.47%
Natural Gas 6.77 -.29%
Heating Oil 147.55 +.10%
Gold 433.50 -.14%
Base Metals 123.54 -.87%
Copper 144.40 unch.
10-year US Treasury Yield 4.22% -.98%
Leading Sectors
HMOs +3.28%
Papers +2.06%
Telecom +1.71%
Lagging Sectors
Oil Service -3.33%
Gold & Silver -4.02%
Steel -4.79%
Evening Review
Detailed Market Summary
Market Gauges
Daily ETF Performance
Style Performance
Market Wrap CNBC Video(bottom right)
S&P 500 Gallery View
Timely Economic Charts
PM Market Call
After-hours Movers
Real-time/After-hours Stock Quote
In Play
Afternoon Recommendations
Goldman Sachs:
- Reiterated Outperform on BHI, WLP, AHC and CL.
- Reiterated Underperform on KEA, BA, RAI and ALB.
Afternoon/Evening Headlines
Bloomberg:
- UK Prime Minister Blair cast doubt on Britain joining the euro currency while he is in office as he seeks a third term in a May 5 general election.
- Ministers from Caribbean countries said their tourism-dependent economies might be hurt by new US rules requiring US citizens traveling to the Caribbean to carry passports.
- Hedge funds attracted a record $27.4 billion from institutional and wealthy investors in the first quarter, helping to push assets to more than $1 trillion for the first time, according to Hedge Fund Research.
- Tenet Healthcare said it received a notice that US regulators plan to recommend civil action related to the company’s financial reporting of Medicare and managed-care payments.
- Crude oil fee almost $3 a barrel in NY, the biggest decline this year, after the Energy Dept. reported that US inventories jumped to the highest in almost 3 years and President Bush spoke on ways to cut energy prices.
BOTTOM LINE: US stocks finished modestly higher today on falling energy prices and long-term interest rates. The Portfolio finished substantially higher on gains in my Commodity-related shorts. I added a few new Energy-related shorts in the afternoon, thus leaving the Portfolio 50% net long. One of my new shorts is OMM and I am using a $19.75 stop-loss on this position. The tone of the market remained slightly positive into the afternoon as the advance/decline finished modestly lower, most sectors were higher and volume was average. Measures of investor anxiety were mostly lower. Overall, today’s market action was slightly positive. I expect tomorrow’s GDP report to fail to meet expectations. This may spur a further decline in commodity prices.
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