S&P 500 1,236.40 -1.27%
DJIA 10,792.58 -.91%
NASDAQ 2,091.32 -2.05%
Russell 2000 683.19 -2.59%
DJ Wilshire 5000 12,411.02 -1.49%
S&P Barra Growth 572.29 -1.24%
S&P Barra Value 662.40 -1.29%
Morgan Stanley Consumer 596.06 -.81%
Morgan Stanley Cyclical 787.16 -1.60%
Morgan Stanley Technology 476.74 -1.81%
Transports 4,458.78 -1.84%
Utilities 412.74 +.12%
Put/Call .94 -6.93%
NYSE Arms 2.46 +78.18%
Volatility(VIX) 20.96 +15.67%
ISE Sentiment 129.00 +22.86%
US Dollar 85.93 +.24%
CRB 338.39 -.50%
Futures Spot Prices
Crude Oil 70.37 +.01%
Unleaded Gasoline 212.40 -.01%
Natural Gas 6.31 +1.46%
Heating Oil 199.58 +.23%
Gold 608.00 -.54%
Base Metals 208.04 -1.91%
Copper 319.70 -.98%
10-year US Treasury Yield 4.97% +.39%
Leading Sectors
Utilities +.12%
Tobacco -.29%
Broadcasting -.34%
Lagging Sectors
Oil Service -4.61%
Steel -4.71%
Alternative Energy -5.04%
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:
- Rated (OCR) Outperform, target $57.
Piper Jaffray:
- Rated (ARRS) Outperform, target $18.
- Rated (FDRY) Outperform, target $18.
Banc of America:
- Rated (NDAQ) Buy, target $39.
Afternoon/Evening Headlines
Bloomberg:
- The US dollar gained against the euro for a sixth day, its longest rally since November, on speculation the Fed will raise rates for a 17th straight time.
- Fatah gunmen loyal to Palestinian Authority President Abbas stormed the Hamas Cabinet office in the West Bank City of Ramallah today and set the building on fire.
- Stocks in emerging markets worldwide resumed their slump on concern higher interest rates will depress global economic growth. Colombia’s stock exchange had its first automatic trading suspension since the IGBC index was created in 2001, as its drop exceeded 10%.
- Crude oil fell on speculation that a government report will show US gas supplies rose for a seventh straight week.
Automotive News:
- Billionaire hedge fund investor and Democratic political activist George Soros may spend as much as $200 million to fund a joint venture with Chinese carmaker Chery Automobile to produce vehicles for the US market, citing Chery.
BOTTOM LINE: The Portfolio finished slightly lower today as losses in my Internet longs, Networking longs and Semi longs more than offset gains in my Index shorts, Energy-related shorts and Base Metal shorts. I did not trade in the final hour, thus leaving the Portfolio 25% net long. The tone of the market was very negative today as the advance/decline line finished substantially lower, almost every sector fell and volume was about average. Measures of investor anxiety were mixed into the close. Overall, today's market performance was bearish, however there were some positives again. The NYSE Arms finished at an elevated 2.46 and the VIX rose 16% today, finishing above 20. As well, oil is trading near session lows and continues to act “toppy” heading into hurricane season. The 10-year and the U.S. dollar maintained recent gains throughout the day. The broad market continues to trade as though multiple large funds are liquidating, which is very likely considering the amount of leverage associated with commodities. Overseas markets will likely come under pressure again tonight. I suspect tomorrow's PPI may actually be a positive for US equities.
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