S&P 500 1,176.84 -.07%
DJIA 10,216.59 unch.
NASDAQ 2,047.22 +.48%
Russell 2000 623.28 +.28%
DJ Wilshire 5000 11,711.87 -.10%
S&P Barra Growth 567.12 +.13%
S&P Barra Value 605.53 -.26%
Morgan Stanley Consumer 574.85 +.17%
Morgan Stanley Cyclical 684.92 +.04%
Morgan Stanley Technology 486.80 +.46%
Transports 3,589.50 -1.03%
Utilities 389.11 -2.78%
Put/Call 1.30 unch.
NYSE Arms .73 -9.17%
Volatility(VIX) 16.47 +1.54%
ISE Sentiment 149.0 unch.
US Dollar 89.81 +.20%
CRB 328.92 -.96%
Futures Spot Prices
Crude Oil 62.93 -.24%
Unleaded Gasoline 175.00 -.45%
Natural Gas 13.06 -.29%
Heating Oil 198.85 -.42%
Gold 474.40 +.13%
Base Metals 132.03 -1.59%
Copper 177.00 +.28%
10-year US Treasury Yield 4.46% +.63%
Leading Sectors
Computer Hardware +2.22%
Semis +2.14%
Biotech +1.80%
Lagging Sectors
Energy -2.70%
Utilities -2.78%
Coal -3.12%
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 COH.
Afternoon/Evening Headlines
Bloomberg:
- Samsung Electronics agreed to pay $300 million, the second largest criminal antitrust fine in US history, to settle charges it took part in a global scheme to fix the price of computer chips used in PCs, mobile phones and other electronic devices.
- Emerging-market stocks, bonds and currencies declined on expectations the Federal Reserve will raise the US benchmark lending rate through next year to curb inflation, sapping demand for riskier securities.
- Refco, reeling from the disclosure that its CEO hid unpaid debts, today blocked clients from withdrawing funds from one of its units that doesn’t have enough liquidity to keep doing business.
- Crude oil fell and gasoline plunged to a two-month low after an Energy Department report showed that US consumption of the motor fuel fell as refiners increased output.
- New hedge funds quadrupled in Asia this year as US firms, led by Citadel Investment Group LLC and Tremont Capital Management, took a bigger share of the region’s $85 billion market.
- GM and the UAW are “making progress” on the company’s request for contract changes to lower its $5.6 billion annual expense for health care, UAW President Ronal Gettelfinger said.
- Occidental Petroleum will buy Vintage Petroleum for $3.8 billion.
Reuters:
- The Federal Reserve is on alert for an acceleration of inflation and will take the steps that are necessary to ensure price stability, Federal Reserve Bank of Kansan City President Hoenig said. He also said core inflation around 2.2% is not alarming and that the steps needed to ensure price stability are still open to analysis.
Financial Times:
- Excessive patent and copyright protections are suppressing scientific investigation and artistic creativity, citing a group working for the Royal Society of Arts in London.
BOTTOM LINE: The Portfolio finished substantially higher today on gains in my Computer longs, Semiconductor longs, Airline longs, Steel shorts and Energy-related shorts. I did not trade in the afternoon, thus leaving the Portfolio 75% net long. The tone of the market was slightly positive today as the advance/decline line finished almost unchanged, most sectors rose and volume was about average. Measures of investor anxiety were mixed into the close. Overall, today’s market action was encouraging. It is a big positive to see the major averages hold up even with the losses in the commodity stocks. I want to see investors’ reaction to tomorrow’s economic data before getting more aggressive on the long side.
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