S&P 500 1,220.65 +.17%
DJIA 10,546.21 +.06%
NASDAQ 2,175.81 +.17%
Russell 2000 659.83 +.55%
DJ Wilshire 5000 12,200.43 +.19%
S&P Barra Growth 584.20 +.09%
S&P Barra Value 632.22 +.24%
Morgan Stanley Consumer 586.97 +.31%
Morgan Stanley Cyclical 732.74 -.01%
Morgan Stanley Technology 511.88 +.14%
Transports 4,004.37 +1.09%
Utilities 395.86 +.53%
Put/Call .82 -4.65%
NYSE Arms .76 -32.88%
Volatility(VIX) 12.80 -2.14%
ISE Sentiment 149.00 -14.86%
US Dollar 91.53 +.19%
CRB 316.54 -.53%
Futures Spot Prices
Crude Oil 58.79 -.14%
Unleaded Gasoline 154.70 -.43%
Natural Gas 11.60 -.06%
Heating Oil 178.30 -.66%
Gold 468.10 +.60%
Base Metals 136.62 +.38%
Copper 183.25 +.10%
10-year US Treasury Yield 4.64% +9.38%
Leading Sectors
Oil Tankers +3.26%
Gold & Silver +3.09%
Airlines +1.92%
Lagging Sectors
Energy -.86%
Restaurants -.88%
Coal -1.56%
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 FD.
- Reiterated Underperform on WGR.
Afternoon/Evening Headlines
Bloomberg:
- Citigroup Inc. Chairman Sanford Weill told CNBC the US economy is in “good shape,” even after multiple hurricanes in the Gulf of Mexico.
- Google Inc. sought to patent a system that helps individuals and small businesses sell items online by automatically creating ads that appear next to Web search results.
- T. Boone Pickens, the Dallas hedge fund manager who predicted oil would continue rising after the hurricanes sent it to $72/bbl. is now saying prices will drop toward $50/bbl. in coming months.
- The US dollar rose against the euro for a fifth straight day, its longest winning streak since August, on continuing speculation the riots in France will result is an increase in demand for US assets.
- The Jordanian government said blasts at three hotels in the capital Amman late today were coordinated “terror operations,” probably carried out by homicide bombers.
NY Times:
- Reported Judith Miller, a key figure in a federal investigation into who divulged the name of a CIA agent, is retiring immediately from the NY Times.
BOTTOM LINE: The Portfolio finished slightly lower today on losses in my Internet longs, Retail longs and Oil Tanker shorts. I took profits in an Oil Tanker short and exited an Internet long in the afternoon, thus leaving the Portfolio 100% net long. The tone of the market was positive today as the advance/decline line finished higher, most sectors rose and volume was slightly below average. Measures of investor anxiety were mostly lower into the close. Overall, today’s market action was positive given recent gains, the terrorist bombings, a morning rally in oil and a 9 basis point surge in the 10-year T-note yield could not send stocks lower. I expect better-than-expected readings on inflation, consumer confidence and the deficit to propel stocks higher tomorrow.
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