S&P 500 1,173.79 -1.18%
DJIA 10,403.93 -.99%
NASDAQ 1,974.37 -1.55%
Russell 2000 602.54 -1.71%
DJ Wilshire 5000 11,553.90 -1.21%
S&P Barra Growth 566.94 -1.04%
S&P Barra Value 602.49 -1.31%
Morgan Stanley Consumer 585.52 -.17%
Morgan Stanley Cyclical 729.50 -1.86%
Morgan Stanley Technology 444.88 -1.74%
Transports 3,548.34 -2.68%
Utilities 367.26 -.70%
Put/Call .94 -20.34%
NYSE Arms 1.65 +71.79%
Volatility(VIX) 13.31 +17.79%
ISE Sentiment 175.00 +11.46%
US Dollar 84.40 -.05%
CRB 300.83 -.59%
Futures Spot Prices
Crude Oil 50.34 +.24%
Unleaded Gasoline 148.15 -.19%
Natural Gas 6.98 +.04%
Heating Oil 144.80 +.42%
Gold 430.90 -.02%
Base Metals 125.38 -3.26%
Copper 145.30 -.45%
10-year US Treasury Yield 4.36% +.19%
Leading Sectors
Drugs +1.37%
Hospitals +.22%
Tobacco +.18%
Lagging Sectors
Energy -2.46%
Semis -2.71%
Steel -3.38%
After-hours Movers
AMD +3.2% after missing 1Q estimates and saying it will spin off its memory-chip unit in an IPO that’s worth as much as $600M.
LRCX +3.5% after beating 3Q estimates.
MNT +10.4% after a government panel recommend that US regulators approve Mentor’s silicone breast implants for sale, after the group yesterday voted to reject Inamed’s similar device.
IFIN -3.13% after missing 1Q estimates.
PLAY -4.4% on AAPL report.
SYNA -4.59% on AAPL report.
IMDC -5.05% on MNT news.
MOGN -6.83% after missing 1Q estimates.
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:
- Rated ARO Outperform, target $41.
Afternoon/Evening Headlines
Bloomberg:
- Verdant Power LLC, a closely held developer of hydroelectric plants, won approval from US energy regulators to install six 16-foot power-generating turbines at the bottom of New York City’s East River.
- Apple Computer said second-quarter earnings soared more than six-fold as the devices propelled sales and helped win new customers for more profitable Macintosh computers.
Handelsblatt:
- DaimlerChrysler AG expects its US commercial-vehicle business to grow sales by 20% over the next 18 months.
Xinhua:
- China called Japan’s decision to grant Japanese companies energy drilling rights in the East China Sea “a provocation.”
BOTTOM LINE: US stocks finished sharply lower today as long-term interest rates bounced and worries over slowing economic growth and earnings shortfalls rose. The Portfolio finished lower on losses in my Financial, Homebuilding and Tech longs. I added a few new shorts from various sectors in the afternoon, thus leaving the Portfolio 25% net long. One of my new shorts is GMR and I am using a $49.50 stop-loss on this position. The tone of the market weakened meaningfully into the afternoon as the advance/decline finished sharply lower, almost every sector fell and volume was modest. Measures of investor anxiety remained mixed into the afternoon. Overall, today’s market action was negative, considering the fall in energy prices, recent losses and the market’s inability to follow-through on yesterday’s advance.
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