S&P 500 1,200.82 +.23%
DJIA 10,522.56 +.09%
NASDAQ 2,068.96 +.29%
Russell 2000 629.02 +.43%
DJ Wilshire 5000 11,890.26 +.58%
S&P Barra Growth 577.60 +.14%
S&P Barra Value 618.86 +.31%
Morgan Stanley Consumer 582.12 +.02%
Morgan Stanley Cyclical 723.99 +.48%
Morgan Stanley Technology 482.09 +.63%
Transports 3,523.43 +.06%
Utilities 374.43 +.34%
Put/Call .88 +23.94%
NYSE Arms .61 -31.36%
Volatility(VIX) 11.65 -2.59%
ISE Sentiment 118.00 -27.61%
US Dollar 88.95 +.29%
CRB 304.28 +.60%
Futures Spot Prices
Crude Oil 55.60 -.04%
Unleaded Gasoline 156.06 -.08%
Natural Gas 7.32 +.81%
Heating Oil 166.82 +.31%
Gold 430.60 -.12%
Base Metals 123.48 -.24%
Copper 153.55 -.26%
10-year US Treasury Yield 4.09% +1.0%
Leading Sectors
Broadcasting +1.95%
Hospitals +1.38%
Papers +1.38%
Lagging Sectors
Restaurants -.52%
Airlines -1.49%
Oil Tankers -1.58%
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 Underperform on PFG.
Afternoon/Evening Headlines
Bloomberg:
- Intel said it is setting up a $200 million investment fund to help accelerate the use of computers and the Internet in China.
- Ford’s Hertz rental-car unit said it plans an IPO of as much as $100 million in stock.
- US Treasuries maturing in 10 years or more fell for a fourth day, the longest slide since February, as investors anticipate stronger US growth.
- Shares of Northwest Airlines dropped 12% after Chairman Gary Wilson disclosed he sold 59% of his Northwest stock over the past month.
- Hewlett-Packard separated its personal-computer and printing units five months after combining the businesses.
- Crude oil rose more than $2/bbl. in NY on concern that refiners will be unable to meet surging global demand for distillate fuels such as diesel and heating oil.
SportsBusiness Journal:
- Nike signed NY Yankees All-Star Alex Rodriguez to a five-year sponsorship that might earn him $1 million a year.
Reuters:
- The Blackstone Group, one of the world’s largest private equity firms, is among the companies interested in buying appliance-maker Maytag.
Financial Times:
- SBC Communications said plans for a plan $4 billion fiber-optic network is progressing.
- Haier, a Chinese appliance maker, is considering making a bid for Maytag.
BOTTOM LINE: The Portfolio finished slightly lower today on losses in my Internet and Semiconductor longs. I exited a tech long in after-hours and added to my QQQQ long, thus leaving the Portfolio 75% net long. The tone of the market was modestly positive today as the advance/decline finished slightly higher, most sectors rose and volume was below average. Measures of investor anxiety were mixed into the close. Overall, today’s market action was positive considering the rise in energy prices. I expect another modestly positive day tomorrow on a better-than-expected PPI reading and better-than-expected retail sales.
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