S&P 500 1,194.67 -.22%
DJIA 10,476.86 -.06%
NASDAQ 2,060.18 -.34%
Russell 2000 620.47 -.53%
DJ Wilshire 5000 11,821.87 -.25%
S&P Barra Growth 576.38 -.36%
S&P Barra Value 613.87 -.08%
Morgan Stanley Consumer 581.73 -.39%
Morgan Stanley Cyclical 719.91 -.25%
Morgan Stanley Technology 479.80 -.33%
Transports 3,537.73 -2.07%
Utilities 370.27 +.04%
Put/Call .92 +9.52%
NYSE Arms .90 -22.25%
Volatility(VIX) 12.70 +2.50%
ISE Sentiment 157.00 +.64%
US Dollar 87.88 +.45%
CRB 303.73 -.81%
Futures Spot Prices
Crude Oil 52.50 -.08%
Unleaded Gasoline 149.50 -.17%
Natural Gas 7.02 +.29%
Heating Oil 154.89 -.25%
Gold 425.10 -.35%
Base Metals 123.16 -1.31%
Copper 154.60 unch.
10-year US Treasury Yield 3.93% +.82%
Leading Sectors
I-Banks +.71%
Networking +.65%
Semis +.64%
Lagging Sectors
Homebuilders -1.49%
Airlines -1.51%
Oil Tankers -1.75%
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 AVP.
- Reiterated Underperform on CHTR and FGP.
Smith Barney:
- Rated GOOG Buy, target $360.
Afternoon/Evening Headlines
Bloomberg:
- Caterpillar split its stock 2-for-1 and increased its quarterly dividend by 22% after sales jumped by a third last year.
- US economic growth will slow to 3.4% in 2005 from 3.9% last year, a report from President Bush’s administration says, down slightly from its December forecast.
- Scientists say they have discovered a way to make fuel cells that generate the heat they need to function, which could lead to new designs of lighter and more powerful batteries for portable electronic devices.
- John Malone, chairman of Liberty Media, resigned from the board of Cablevision Systems to avoid conflicts that might arise because both companies own television programming assets.
- US Treasuries fell today, pushing yields on 10-year notes up from near the lowest in more than a year, on speculation Federal Reserve Chairman Alan Greenspan will say tomorrow that inflation is still a threat.
- Crude oil fell for a third day as refiners increased production of heating oil and diesel, bolstering inventories.
Fox News:
- President Bush said China has signaled a willingness to adjust its currency, and the US is “serious” about blocking North Korea’s development of nuclear weapons.
Financial Times:
- Toyota Motor Chairman Okuda said he fears a protectionist backlash from the US if financial problems worsen at GM and Ford.
Globe and Mail:
- Negotiators for the NHL and its players union have agreed on a salary cap system based on team-by-team revenue.
BOTTOM LINE: The Portfolio finished lower today on losses in my Internet and Homebuilding longs. I did not trade in the afternoon, thus leaving the Portfolio 50% net long. The tone of the market was modestly negative today as the advance/decline finished lower, most sectors declined and volume was below average. Measures of investor anxiety were mixed into the close. Overall, today’s market action was slightly negative. Today’s rally in the US dollar looks like it will continue in the near-term, which should help spur another decline in commodity prices.
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