S&P 500 1,213.88 +.02%
DJIA 10,587.93 -.11%
NASDAQ 2,092.03 +.05%
Russell 2000 643.45 +.38%
DJ Wilshire 5000 12,042.44 +.06%
S&P Barra Growth 580.28 -.10%
S&P Barra Value 629.38 +.14%
Morgan Stanley Consumer 582.68 -.25%
Morgan Stanley Cyclical 736.81 -.48%
Morgan Stanley Technology 486.84 +.27%
Transports 3,568.40 unch.
Utilities 381.92 +.81%
Put/Call .90 -6.25%
NYSE Arms 1.07 -9.54%
Volatility(VIX) 11.05 -.27%
ISE Sentiment 174.00 +10.13%
US Dollar 88.56 +.50%
CRB 311.03 unch.
Futures Spot Prices
Crude Oil 58.33 +.41%
Unleaded Gasoline 161.85 +.45%
Natural Gas 7.50 +.85%
Heating Oil 162.65 +.24%
Gold 440.00 +.07%
Base Metals 125.02 -.75%
Copper 154.15 -.26%
10-year US Treasury Yield 3.94% -2.46%
Leading Sectors
Oil Tankers +3.29%
I-Banks +2.95%
Oil Service +1.06%
Lagging Sectors
Homebuilders -.48%
Gold & Silver -.52%
Steel -1.08%
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 ROH, WAG and CVS.
- Reiterated Underperform on DJ and TRB.
Afternoon/Evening Headlines
Bloomberg:
- The US dollar gained against the euro, British pound and Swiss franc on signs that central banks in Europe are moving closer to reducing interest rates.
- US 10-year Treasuries had their biggest gain in almost seven months on speculation slower global economic growth will cause the Fed to end a series of interest-rate increases sooner than anticipated.
- Members of the Chicago Board of Trade, the second-biggest US futures market, approved a measure allowing the exchange to issue shares, paving the way for a $150 million IPO.
- Yahoo! shut some Internet chat rooms after companies including PepsiCo and Georgia-Pacific pulled advertising, citing the concerns the sites were being used by adults to lure young children.
- Crude oil fell almost $1/bbl. following an Energy Dept. report that showed US oil inventories fell less than expected as fuel demand declined.
Financial Times:
- US regulators are about to declare milk and meat from cloned animals safe for consumption.
- CNOOC Ltd., China’s third largest oil company, will bid about $20 billion for Unocal Corp., topping Chevron’s agreement to buy the company for $16 billion.
Wall Street Journal:
- GM hasn’t convinced United Auto Workers officials that union members’ health-care benefits must be reduced.
BOTTOM LINE: The Portfolio finished slightly higher on gains in my Retail/Internet longs and Steel shorts. I did not trade in the afternoon, thus leaving the Portfolio 100% net long. The tone of the market was slightly positive today as the advance/decline finished a bit higher, sector performance was mixed and volume was about average. Measures of investor anxiety were lower into the close. Overall, today’s market action was mildly negative. The Broker/Dealer Index(XBD) hit an all-time high today. I expect these stocks to continue to outperform through year-end.
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