S&P 500 1,286.06 -.63%
DJIA 10,962.36 -.73%
NASDAQ 2,316.69 -.63%
Russell 2000 706.79 -.62%
DJ Wilshire 5000 n/a
S&P Barra Growth 615.60 -.62%
S&P Barra Value 665.97 -.63%
Morgan Stanley Consumer 600.14 -.37%
Morgan Stanley Cyclical 794.06 -1.56%
Morgan Stanley Technology 553.57 -.50%
Transports 4,148.38 -1.21%
Utilities 412.81 +.07%
Put/Call .72 +14.29%
NYSE Arms 1.25 +60.33%
Volatility(VIX) 11.20 +2.38%
ISE Sentiment 144.00 -25.0%
US Dollar 89.47 +.54%
CRB 334.71 -.30%
Futures Spot Prices
Crude Oil 63.90 -.06%
Unleaded Gasoline 171.85 -.84%
Natural Gas 8.98 +.50%
Heating Oil 171.45 +.19%
Gold 547.50 -.33%
Base Metals 158.96 +.24%
Copper 208.95 +.10%
10-year US Treasury Yield 4.40% -1.06%
Leading Sectors
Disk Drives +.32%
Hospitals +.31%
Foods +.29%
Lagging Sectors
Oil Service -1.85%
Airlines -1.92%
Homebuilders -2.24%
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:
- None of note
Afternoon/Evening Headlines
Bloomberg:
- The euro fell the most against the dollar in three weeks after European Central Bank President Jean-Claude Trichet said there are risks to economic growth in Europe.
- Ted Koppel, former host of ABC’s “Nightline,” will begin writing for the NY Times as a contributing columnist this month and will join the NPR radio network as a senior news analyst in June.
- Federated Dept. Stores(FD) plans to sell the Lord & Taylor division it acquired in its $11 billion purchase of May Dept. Stores(MAY) as it focuses on the Macy’s chain.
- California regulators approved a $2.5 billion solar-power subsidy, the largest ever in the US, offering more business to solar-panel makers such as SunPower and Evergreen Solar(ESLR) that are already struggling to meet demand.
- The US reported an $11 billion budget surplus in December as tax receipts soared 12.1% to $241.9 billion, an all-time record.
- Toyota Motor(TM) said it expects a US sales increase this year of as much as 10%, doubling a forecast it made last week.
- International Business Machines(IBM) said the SEC escalated a probe into the company’s first-quarter earnings report.
- Natural gas fell below $9, plunging 44% in about a month, as US supplies are set to reach records.
BOTTOM LINE: The Portfolio finished slightly lower today on losses in my Internet longs, Semi longs, Medical Information longs and Biotech longs. I did not trade in the final hour, thus leaving the Portfolio 50% net long. The tone of the market was negative today as the advance/decline line finished lower, most sectors fell and volume was above-average. Measures of investor anxiety were higher into the close. Overall, today's market performance was negative considering the fall in long-term rates/natural gas, positive economic data and comments from Iran. The major averages and breadth finished near session lows, led by a sharp reversal in energy-related equities. However, breadth wasn't too bad and volume was only slightly above average. The 10-year T-note yield also finished near session lows, down 5 basis points. Today's action looked like healthy profit-taking to me. However, I would expect to see stocks trade mixed-to-lower in the near-term after an exceptional start to the year.
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