S&P 500 1,216.89 +.10%
DJIA 10,473.09 +.16%
NASDAQ 2,115.40 -.05%
Russell 2000 656.04 -.47%
DJ Wilshire 5000 12,143.63 +.03%
S&P Barra Growth 581.89 +.06%
S&P Barra Value 630.79 +.14%
Morgan Stanley Consumer 580.36 +.22%
Morgan Stanley Cyclical 721.82 +.01%
Morgan Stanley Technology 496.78 +.39%
Transports 3,656.23 +1.07%
Utilities 429.04 +1.03%
Put/Call .73 -7.59%
NYSE Arms .79 -16.27%
Volatility(VIX) 12.63 -1.02%
ISE Sentiment 143.00 -28.50%
US Dollar 89.47 -.15%
CRB 333.33 +1.93%
Futures Spot Prices
Crude Oil 66.28 -.11%
Unleaded Gasoline 230.00 -1.92%
Natural Gas 14.04 -.43%
Heating Oil 212.92 -.56%
Gold 472.50 -.13%
Base Metals 130.42 -.19%
Copper 174.50 -.17%
10-year US Treasury Yield 4.25% -.55%
Leading Sectors
Networking +2.18%
Gold & Silver +2.17%
Computer Services +1.43%
Lagging Sectors
Alternative Energy -.95%
REITs -.96%
Retail -1.32%
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 EL.
- Reiterated Underperform on DE.
Afternoon/Evening Headlines
Bloomberg:
- Landry’s Restaurants, which yesterday completed the acquisition of two Golden Nugget Casino and Hotels in Nevada, may expand the operation to Gulf coast states such as Mississippi, CEO Fertitta said.
- A probe of Fannie Mae, the largest source of money for US home loans, turned up “new and pervasive accounting violations,” Dow Jones reported.
- Governor George Pataki said today he will direct development officials to drop plans for a museum of freedom at the World Trade Center site as officials said the center could be used for anti-US messages.
- A tropical storm system is developing in the Caribbean Sea and has the potential to develop into another hurricane.
- Television and radio indecency complaints to US regulators plummeted 98% in the second quarter after networks flagged racier programs.
BOTTOM LINE: The Portfolio finished slightly lower today on losses in my Energy-related shorts and Internet longs. I covered some of my IWM and QQQQ shorts in the afternoon, thus leaving the Portfolio 50% net long. The tone of the market was slightly negative today as the advance/decline line finished lower, sector performance was mixed and volume was about average. Measures of investor anxiety were mostly lower into the close. Overall, today’s market action was slightly positive given a 10% jump in natural gas prices and a 10% decline in Fannie Mae (FNM). Breadth, however, remained modestly negative throughout the day. I expect stocks to continue to trade mixed-to-lower over the next few weeks before a meaningful rally propels the major averages higher through year-end.
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