S&P 500 1,237.81 +.71%
DJIA 10,685.89 +.86%
NASDAQ 2,174.55 +.78%
Russell 2000 666.37 +.94%
DJ Wilshire 5000 12,238.96 +.72%
S&P Barra Growth 593.60 +.75%
S&P Barra Value 639.80 +.66%
Morgan Stanley Consumer 592.18 +.67%
Morgan Stanley Cyclical 758.96 +.64%
Morgan Stanley Technology 503.75 +.91%
Transports 3,762.84 +.52%
Utilities 397.22 +.94%
Put/Call .92 -8.0%
NYSE Arms .69 -40.52%
Volatility(VIX) 12.42 +.32%
ISE Sentiment 120.00 -36.17%
US Dollar 86.89 -.82%
CRB 322.59 +.83%
Futures Spot Prices
Crude Oil 65.87 +1.49%
Unleaded Gasoline 196.10 +3.41%
Natural Gas 9.38 +3.46%
Heating Oil 191.08 +3.92%
Gold 451.30 +.09%
Base Metals 127.54 +.13%
Copper 164.50 -.12%
10-year US Treasury Yield 4.32% -1.60%
Leading Sectors
Gold & Silver +4.11%
Restaurants +3.06%
Biotech +1.32%
Lagging Sectors
Papers -.09%
Gaming -.15%
Airlines -.87%
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 YHOO.
- Reiterated Underperform on FLWS and DE.
Afternoon/Evening Headlines
Bloomberg:
- The Chicago Board of Trade said new limits on Treasury futures holding are a “prudent and proactive” response to traders’ concerns about a potential shortage of bonds used the settle the contracts.
- Delta and Continental boosted airfares by $10 each way to counter rising fuel prices.
- An Oklahoma man was arrested for allegedly having an explosive device in his carry-on bag as he went to board a flight to Philadelphia.
- After the close, Dell reported second-quarter sales that misses analysts’ estimates and indicated revenue will fall short again this quarter after the company slashed prices to win market share.
- Intel may raise its dividend or buy back more shares because it has too much cash, CFO Andy Bryant said.
- American International Group boosted its quarterly shareholder dividend 20%, the first increase since the company restated $3.9 billion of profit in May.
BOTTOM LINE: The Portfolio finished modestly higher today on gains in my Medical longs and Oil Tanker shorts. I added to my existing longs in the afternoon, thus leaving the Portfolio 50% net long. The tone of the market was positive today as the advance/decline line finished higher, almost every sector rose and volume was slightly below average. Measures of investor anxiety remained mixed into the close. Overall, today’s market action was positive. With the U.S. economy poised for 4%+ growth over the next couple of quarters and inflation readings under control, investors are likely viewing higher oil prices as a positive that may help bring growth back down to more sustainable levels.
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