S&P 500 1,278.47 +.20%
DJIA 11,005.74 +.23%
NASDAQ 2,267.46 -.04%
Russell 2000 721.84 +.11%
Wilshire 5000 12,855.02 +.15%
S&P Barra Growth 605.43 +.33%
S&P Barra Value 669.44 +.07%
Morgan Stanley Consumer 604.62 +.42%
Morgan Stanley Cyclical 776.30 -34%
Morgan Stanley Technology 530.74 -.20%
Transports 4,420.21 -.33%
Utilities 400.26 +.24%
Put/Call .96 -5.88%
NYSE Arms .92 -.30%
Volatility(VIX) 12.32 -2.69%
ISE Sentiment 149.00 +7.19%
US Dollar 90.56 -.23%
CRB 317.87 -1.11%
Futures Spot Prices
Crude Oil 59.89 -.20%
Unleaded Gasoline 163.75 -.77%
Natural Gas 6.62 -.36%
Heating Oil 169.18 -.14%
Gold 544.70 +.04%
Base Metals 161.68 -.64%
Copper 217.60 -.05%
10-year US Treasury Yield 4.72% +.09%
Leading Sectors
Airlines +1.44%
Drugs +1.14%
Hospitals +1.13%
Lagging Sectors
Semis -1.39%
Gold & Silver -2.20%
Alternative Energy -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 (MYOG) and (COF).
- Reiterated Underperform on .
Afternoon/Evening Headlines
Bloomberg:
- North Korea launched two-short range missiles, a US official confirmed today, saying the test was a reminder of the threat posed by that country.
- President Bush promised residents of New Orleans that the levees protecting the Gulf Coast city will be rebuilt better than they were before Hurricane Katrina hit.
- Intel(INTC) became too relaxed about competition from Advanced Micro Devices(AMD), causing the company to scramble to introduce a fresh product design to reclaim market share, a top executive said.
- Merrill Lynch(MER) is sticking with its forecast that the Fed will stop raising rates when its target reaches 4.75%.
- New York City private sector jobs grew by a revised 1.8% over the 12 months ending in January, double the long-term average rate, as financial services companies added workers.
- Apple Computer(AAPL) created a monthly subscription service on iTunes for “The Daily Show with Jon Stewart” and “The Colbert Report” from the Comedy Central cable television network.
- Dell Inc.(DELL) will continue to undercut competitors on computer prices, limiting profit margins to revive revenue growth after its forecast trailed analysts’ projections, CEO Rollins said.
- JetBlue Airways(JBLU) may sell items on its flights to boost revenue after its first quarterly loss since the low-cost carrier went public in 2002.
- Shares of the NYSE(NYX) climbed as much as 22% in their trading debut, reflecting investor confidence in the transformation of the world’s largest equity market into a public company.
- A US House committee approved a measure to block a state-owned Dubai firm’s takeover of terminal operations at six US ports, defying a threat from President Bush to veto the legislation.
- Crude oil in NY traded near a three-week low after the US reported the largest stockpiles of crude since 1999 and OPEC left output near a 20-year high.
- Google(GOOG) said today it settled a “click-fraud” lawsuit filed in Arkansas for $90 million.
Wall Street Journal:
- The US Justice Dept. said it plans to seek civil-fraud charges against fund manager Mario Gabelli.
al-Sabah:
- Iraqi Prime Minister Ibrahim al-Jaafari said he’s confident the process of forming a new government will speed up.
BOTTOM LINE: The Portfolio finished higher today on gains in my Biotech longs, Retail longs, Networking longs and Commodity shorts. I did not trade in the final hour, thus leaving the Portfolio 75% net long. The tone of the market was slightly positive today as the advance/decline line finished about even, sector performance was mostly positive and volume was above average. Measures of investor anxiety were lower into the close. Overall, today's market performance was bullish. The only thing missing today was a good dose of fear. If commodity prices fall as hard as I expect, we will likely get elevated anxiety readings over the coming weeks. I continue to believe falling commodity prices will prove to be a huge positive for the broad stock market over the longer-term.
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