S&P 500 1,202.22 +.90%
DJIA 10,549.87 +.79%
NASDAQ 2,087.86 +.95%
Russell 2000 623.74 +1.14%
DJ Wilshire 5000 11,884.67 +.90%
S&P Barra Growth 581.29 +.96%
S&P Barra Value 616.42 +.84%
Morgan Stanley Consumer 588.30 +.65%
Morgan Stanley Cyclical 726.43 +.85%
Morgan Stanley Technology 484.69 +1.22%
Transports 3,633.86 +.95%
Utilities 368.54 +.93%
Put/Call .68 -29.90%
NYSE Arms .80 -48.30%
Volatility(VIX) 12.36 -7.0%
ISE Sentiment 131.00 -31.77%
US Dollar 88.11 +.40%
CRB 304.33 +1.16%
Futures Spot Prices
Crude Oil 54.27 +4.43%
Unleaded Gasoline 153.50 +4.64%
Natural Gas 6.72 +5.42%
Heating Oil 153.47 +5.88%
Gold 417.60 -.31%
Base Metals 121.70 +.70%
Copper 148.20 +1.75%
10-year US Treasury Yield 3.88% -2.43%
Leading Sectors
Gold & Silver +1.97%
Energy +1.86%
Internet +1.37%
Lagging Sectors
Defense -.31%
Oil Tankers -1.24%
Oil Tankers -1.28%
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 FMD, SBC, UTX and AIG.
Afternoon/Evening Headlines
Bloomberg:
- Dutch voters rejected the European Union’s constitution, dealing a second blow to European integration three days after the treaty was defeated in France, causing the euro to plunge.
- UK Prime Minister Blair came under pressure from European Union leaders not to scrap a British referendum on the EU constitution after the Netherlands became the second country to reject the new rulebook.
- JP Morgan Chase said second-quarter trading results through May 31 were “the worst the firm has experienced in some time.”
- The SEC has asked a US judge to appoint a receiver to take control of Amerindo Investment Advisors, after its two co-founders, Alberto Vilar and Gary Tanaka, were jailed on criminal charges last week.
- Ford Motor and GM, which are losing share to Asian competitors, had US sales declines of more than 11% in May, prompting North American production cuts and increased sales incentives.
Wall Street Journal:
- EBay agreed to buy Shopping.com for about $620 million in cash.
AP:
- Palestinian Authority President Abbas underwent angioplasty yesterday after being admitted to an Amman, Jordan, hospital for fatigue.
Reuters:
- Nextel Communications CEO Donahue expects the mobile-phone company to meet or beat forecasts for this year.
BOTTOM LINE: The Portfolio finished higher today on gains in my Internet, Retail and Homebuilding longs. I did not trade in the afternoon, thus leaving the Portfolio 100% net long. The tone of the market was positive today as the advance/decline finished higher, almost every sector rose and volume was average. Measures of investor anxiety were mostly lower into the close. Overall, today’s market action was modestly positive, considering the Fed’s Fisher’s dovish comments. Rising energy prices likely muted an otherwise more vigorous rally.
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