S&P 500 1,263.82 +.18%
DJIA 10,688.77 +.20%
NASDAQ 2,248.47 +.03%
Russell 2000 707.82 +.46%
S&P Barra Growth 604.41 +.07%
S&P Barra Value 655.08 +.31%
Morgan Stanley Consumer 596.68 +.21%
Morgan Stanley Cyclical 774.16 +1.09%
Morgan Stanley Technology 532.77 +.05%
Transports 4,175.75 +.42%
Utilities 421.74 +.10%
Put/Call .87 -17.92%
NYSE Arms 1.04 -50.58%
Volatility(VIX) 13.93 -4.33%
ISE Sentiment 184.00 +3.95%
US Dollar 87.90 -1.20%
CRB 344.78 -.11%
Futures Spot Prices
Crude Oil 67.86 -.35%
Unleaded Gasoline 178.87 -.25%
Natural Gas 8.54 -.34%
Heating Oil 184.05 -.02%
Gold 558.70 unch.
Base Metals 163.80 +2.0%
Copper 212.25 +.14%
10-year US Treasury Yield 4.35% +.13%
Leading Sectors
Steel +3.39%
Oil Service +2.30%
Airlines +1.68%
Lagging Sectors
HMOs -.74%
Biotech -.87%
Gaming -1.03%
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:
- Upgraded (WMT) to Outperform.
- Reiterated Outperform on (ECL).
Afternoon/Evening Headlines
Bloomberg:
- ThyssenKrupp AG, Germany’s largest steelmaker, pulled out of the bidding for Dofasco Inc., leaving Arlelor SA poised to buy Canada’s biggest steel producer for $4.7 billion.
- American Express(AXP) said quarterly profit rose 12% as consumers bought more goods and services using its cards, boosting fees from merchants.
- Microsoft(MSFT) is failing to move quickly enough to comply with its antitrust settlement with the government, the Bush administration said in its strongest show of impatience with the company since they reached their agreement in 2001.
- Symantec Corp.(SYMC) said President Gary Bloom plans to leave the company by the end of March.
- Avaya Inc.(AV) said first-quarter profit more than doubled to $71 million, boosted by acquisitions and demand for gear to make calls over the Internet.
- E*Trade(ET) said profit jumped 44% as stock-trading volume rose following the purchase of two rival firms.
- Texas Instruments(TXN) said fourth-quarter profit rose 34% even as sales disappointed investors.
- Walt Disney(DIS) may have its debt rating raised by Moody’s Investors Service, which cited Disney’s improving balance sheet and comfort with CEO Iger’s strategic plans.
BOTTOM LINE: The Portfolio finished slightly higher today on gains in my Semi longs, Internet longs and Computer longs. I did not trade in the final hour, thus leaving the Portfolio 75% net long. The tone of the market was modestly positive today as the advance/decline line finished slightly higher, sector performance was mixed and volume was above average. Measures of investor anxiety were lower into the close. The major averages and breadth finished slightly higher on decent volume. This is likely disappointing to the bulls and bears alike. Natural gas showed little ability to bounce throughout the day, finishing down 7.7%. As I have said before, natural gas inventories are set to hit all-time highs at the end of winter. I would like to see U.S. stocks display more underlying strength before adding further market exposure.
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