S&P 500 1,151.74 -.89%
DJIA 10,151.13 -.89%
NASDAQ 1,927.44 -1.20%
Russell 2000 587.66 -1.47%
DJ Wilshire 5000 11,349.22 -.90%
S&P Barra Growth 557.33 -.88%
S&P Barra Value 590.06 -.91%
Morgan Stanley Consumer 571.95 -.91%
Morgan Stanley Cyclical 701.80 -1.58%
Morgan Stanley Technology 438.66 -1.15%
Transports 3,404.55 -1.91%
Utilities 365.61 -1.07%
Put/Call .75 -5.06%
NYSE Arms 1.78 +169.42%
Volatility(VIX) 14.91 +1.98%
ISE Sentiment 161.00 +25.78%
US Dollar 83.93 +.13%
CRB 309.78 +.36%
Futures Spot Prices
Crude Oil 54.36 -.38%
Unleaded Gasoline 162.70 -1.45%
Natural Gas 7.15 -.04%
Heating Oil 151.38 -.28%
Gold 438.60 +.64%
Base Metals 124.60 -.42%
Copper 145.70 -1.82%
10-year US Treasury Yield 4.26% +.42%
Leading Sectors
Gaming +2.57%
Broadcasting -.18%
Retail -.29%
Lagging Sectors
Tobacco -3.34%
Computer Hardware -3.64%
Steel -4.53%
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 GILD and LVS.
Afternoon/Evening Headlines
Bloomberg:
- Amazon.com reported first-quarter net income fell to $78 million, hurt by new discounts on shipping and increased development costs.
Financial Times:
- The benefits of countries opening their borders to foreign service-providers will exceed any reduction in jobs, citing the OECD.
BOTTOM LINE: US stocks finished lower today on continuing worries over slowing global growth. The Portfolio finished slightly lower on losses in my Internet and Networking longs. I did not trade in the afternoon, thus leaving the Portfolio 75% net long. The tone of the market deteriorated into the afternoon as the advance/decline finished at its daily lows, almost every sector fell and volume was average. Measures of investor anxiety were mixed. Overall, today’s market action was negative, considering strong home sales, a rising US dollar, falling energy prices, good earnings reports and stable interest rates. Choppiness will likely continue until oil breaks below $50/bbl. or the Fed makes less hawkish comments. The fact that the Homebuilders declined today even with home sales substantially exceeding expectations, building costs declining, mortgage rates dropping and weather improving is a negative and illustrates the overly pessimistic environment that still dominates trading.
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