S&P 500 1,161.17 -.09%
DJIA 10,256.95 +.05%
NASDAQ 1,933.07 +.23%
Russell 2000 584.48 -.24%
DJ Wilshire 5000 11,417.08 -.09%
S&P Barra Growth 561.74 +.04%
S&P Barra Value 595.07 -.21%
Morgan Stanley Consumer 580.09 +.02%
Morgan Stanley Cyclical 702.21 +.08%
Morgan Stanley Technology 439.26 +.45%
Transports 3,462.65 -.61%
Utilities 369.06 -1.11%
Put/Call .84 -10.64%
NYSE Arms 1.08 +16.46%
Volatility(VIX) 14.53 -3.90%
ISE Sentiment 124.00 -24.84%
US Dollar 84.36 -.15%
CRB 299.69 -1.06%
Futures Spot Prices
Crude Oil 49.43 -2.93%
Unleaded Gasoline 145.50 -3.93%
Natural Gas 6.51 -2.82%
Heating Oil 143.50 -1.93%
Gold 429.20 +.35%
Base Metals 122.70 -1.82%
Copper 144.20 -.10%
10-year US Treasury Yield 4.15% -.71%
Leading Sectors
Steel +2.11%
Airlines +2.09%
Gold & Silver +1.10%
Lagging Sectors
Oil Tankers -2.14%
Energy -2.33%
Oil Service -2.63%
Evening Review
Detailed Market Summary
Market Gauges
Daily ETF Performance
Style Performance
Market Wrap CNBC Video(bottom right)
S&P 500 Gallery View
Economic Calendar
Timely Economic Charts
GuruFocus.com
PM Market Call
After-hours Movers
Real-time/After-hours Stock Quote
In Play
Afternoon Recommendations
Goldman Sachs:
- Reiterated Outperform on TYC, YHOO and AVP.
Afternoon/Evening Headlines
Bloomberg:
- Crude oil fell $1.42/bbl. in NY to the lowest in more than two months on speculation that US inventories rose last week as increased OPEC shipments arrived and refineries boosted gasoline production.
- Federal Reserve policy markers raised the benchmark US interest rate a quarter-point to 3% and restated a plan to carry out further increases at a “measured” pace to head off faster inflation.
CNBC:
- Bill Gross, CIO at PIMCO and manager of the world’s largest bond fund, said the Fed may stop raising interest rates later this year.
AP:
- NY’s Court of Appeals will allow video lottery terminals because they operate like a traditional lottery rather than a slow machine.
BOTTOM LINE: The Portfolio finished higher today on gains in my Internet longs and Energy-related shorts. I added some QQQQ longs, added ERTS short and added to some of my Energy-related shorts in the afternoon, thus leaving the Portfolio 75% net long. I am using a stop-loss of $55 on the ERTS short. The tone of the market finished mixed into the close as the advance/decline finished slightly higher, sector performance was mixed and volume was average. Measures of investor anxiety were mostly higher. Overall, today’s market action was neutral considering the Fed’s lack of acknowledgement of slowing growth and today’s decline in energy prices. The Fed’s comments were neither hawkish or dovish, but somewhere in between.
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