S&P 500 1,202.76 -.35%
DJIA 10,406.77 -.32%
NASDAQ 2,114.05 -.29%
Russell 2000 643.02 -.56%
DJ Wilshire 5000 12,007.42 -.30%
S&P Barra Growth 574.29 -.54%
S&P Barra Value 624.34 -.17%
Morgan Stanley Consumer 583.70 -.59%
Morgan Stanley Cyclical 719.01 +.15%
Morgan Stanley Technology 498.92 -.09%
Transports 3,840.04 +.64%
Utilities 390.54 -2.64%
Put/Call .96 +9.09%
NYSE Arms 1.23 +33.05%
Volatility(VIX) 14.85 -3.07%
ISE Sentiment 165.00 -14.95%
US Dollar 90.08 +.01%
CRB 315.83 -.15%
Futures Spot Prices
Crude Oil 59.84 unch.
Unleaded Gasoline 160.36 unch.
Natural Gas 11.94 +.99%
Heating Oil 180.52 +.01%
Gold 460.80 +.04%
Base Metals 133.78 -.93%
Copper 181.50 -.06%
10-year US Treasury Yield 4.56% +.40%
Leading Sectors
Steel +1.73%
Oil Service +1.56%
Computer Services +1.31%
Lagging Sectors
REITs -2.14%
Computer Hardware -2.18%
Utilities -2.64%
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 SYMC, MSFT, CL, TXU and TAP.
- Reiterated Underperform on SGP, CSE and MMC.
Afternoon/Evening Headlines
Bloomberg:
- Codelco, the world’s largest copper producer, said prices for the metal will drop by about a third in the next three years as mining companies expand output to meet growing demand from China.
- Microsoft plans to develop “live” programs that create real-time links to data over the Internet.
- Federal Reserve policy makers raised the benchmark US interest rate a 12th straight time to head off faster inflation and signaled they aren’t finished yet.
- Former US House Majority Leader DeLay won his bid to remove from his campaign-finance trial a Texas judge who has contributed money to Democratic candidates.
- Moderate US Senate Democrats said they want to know more about Supreme Court nominee Samuel Alito’s judicial philosophy and signaled reluctance to support a filibuster to block his confirmation.
Financial Times:
- Anheuser-Busch Cos. and Heineken NV are in talks to buy a controlling stake in Fujian Sedrin Brewery in a deal that may value the Chinese brewer at $800 million.
BOTTOM LINE: The Portfolio finished higher today on gains in my Semi longs, Internet longs, Medical Information System longs and Airline longs. I did not trade in the afternoon, thus leaving the Portfolio 100% 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 above average. Measures of investor anxiety were mostly higher into the close. Overall, today’s market action was neutral and likely frustrating for the bulls and bears. The major averages finished modestly lower; however, a number of sectors gained. It is a big positive that the MS Tech Index fell only 0.09% lower on the day of a Dell (DELL) earnings warning. I still expect stocks to build on recent gains over the next few days.
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