S&P 500 1,263.70 +.13%
DJIA 10,856.86 +.20%
NASDAQ 2,260.76 +.14%
Russell 2000 687.58 +.15%
DJ Wilshire 5000 12,644.00 +.12%
S&P Barra Growth 604.90 +.13%
S&P Barra Value 654.42 +.12%
Morgan Stanley Consumer 593.16 +.09%
Morgan Stanley Cyclical 784.26 +.64%
Morgan Stanley Technology 533.89 +.49%
Transports 4,128.49 +1.02%
Utilities 404.06 -.04%
Put/Call .78 -8.24%
NYSE Arms .82 -11.92%
Volatility(VIX) 11.52 -.69%
ISE Sentiment 187.00 -1.58%
US Dollar 91.40 -.04%
CRB 324.29 -.40%
Futures Spot Prices
Crude Oil 60.03 +.15%
Unleaded Gasoline 158.35 unch.
Natural Gas 13.54 +.38%
Heating Oil 177.60 +.23%
Gold 514.60 +.16%
Base Metals 151.11 -.32%
Copper 198.90 +.10%
10-year US Treasury Yield 4.49% +.17%
Leading Sectors
Gold & Silver +2.80%
Airlines +2.0%
Computer Hardware +1.37%
Lagging Sectors
Biotech -.55%
Drugs -.56%
I-Banks -.63%
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 HRZ, KR and IMCL.
Afternoon/Evening Headlines
Bloomberg:
- Saddam Hussein said the Baghdad Court trying him for a massacre is “unjust” and he won’t return when it reconvenes tomorrow.
- Carina Perelli, the head of the United Nations’ elections assistance agency, has been fired for what the organization’s leaders described as “sexual and professional harassment” of her staff.
- Apple Computer started selling “Law & Order” and other top-rated NBC shows on its iTunes online store to help fuel sales of its iPod video players.
- Rupert Murdoch’s News Corp. forecast a sixfold annual increase in sales at its Internet businesses, driven by more than $1 billion in acquisitions including MySpace.com.
- Research In Motion isn’t negotiating to settle a patent lawsuit that may shut down its BlackBerry e-mail service in the US.
- US Treasuries rallied, sending the 10-year note to its biggest gain in three weeks, after a government report showing labor costs fell for the second consecutive quarter.
AP:
- Most Americans and a majority of people in the UK, France and South Korea said torturing those suspected of terrorism is justified in certain cases, citing an AP-Ipsos poll.
Asahi:
- Japan will lift its two-year-old ban on US and Canadian beef as early as Dec. 12.
BOTTOM LINE: The Portfolio finished higher today on gains in my Semi longs, Computer longs, Retail longs and Medical longs. I did not trade in the afternoon, thus leaving the Portfolio 100% net long. The tone of the market was slightly positive today as the advance/decline line finished modestly higher, sector performance was mixed and volume was about average. Measures of investor anxiety were mostly lower into the close. Overall, today’s action was neutral given the afternoon profit-taking. According to N.Y. consulting firm Strategic Insight, new inflows into international stock funds are projected at $150 billion this year, boosting assets above the $1 trillion mark. To put this in perspective, this would be a 41% increase above last year's record of $106 billion. Moreover, the last mania for international stocks peaked in 1994 and saw inflows of only $66 billion. Between the mania for negatively correlated/low-correlation U.S. strategies -- such as commodity and market neutral funds -- and the flood of money into international funds, there has been relatively little interest in U.S. stocks. Don't be surprised to see these trends reverse over the intermediate term, pushing investors back into more positively correlated U.S. stock funds. As well, a slowing housing market should boost interest in U.S. equities.
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