S&P 500 1,223.69 -1.03%
DJIA 10,706.14 -.80%
NASDAQ 2,072.47 -.90%
Russell 2000 672.72 -1.53%
Wilshire 5000 12,267.38 -1.16%
S&P Barra Growth 568.07 -.74%
S&P Barra Value 653.69 -1.32%
Morgan Stanley Consumer 593.55 -.42%
Morgan Stanley Cyclical 777.04 -1.29%
Morgan Stanley Technology 472.60 -.87%
Transports 4,441.32 -.39%
Utilities 406.72 -1.46%
Put/Call 1.40 +48.94%
NYSE Arms 1.32 -46.29%
Volatility(VIX) 23.81 +13.60%
ISE Sentiment 127.00 -1.55%
US Dollar 86.47 +.72%
CRB 330.23 -2.41%
Futures Spot Prices
Crude Oil 68.29 -.39%
Unleaded Gasoline 204.50 -.33%
Natural Gas 6.15 -.11%
Heating Oil 192.80 -.19%
Gold 566.40 -.07%
Base Metals 196.82 -5.40%
Copper 301.00 -.02%
10-year US Treasury Yield 4.96% -.32%
Leading Sectors
Telecom +.31%
HMOs unch.
Drugs -.26%
Lagging Sectors
Alternative Energy -3.66%
Gold & Silver -3.71%
I-Banks -4.77%
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
SmithBarney:
- Rated (CAH) Buy, target $83.
- Rated (ABC) Buy, target $49.
Afternoon/Evening Headlines
Bloomberg:
- UK Prime Minister Tony Blair said it would be a mistake for the government to withdraw British soldiers from Iraq, citing Blair.
- Emerging-market stocks fell to the lowest in more than six-months as investors dumped riskier assets on concerns over higher interest rates. The Morgan Stanley Emerging Markets Index has plunged 25% since peaking on May 8.
- US Treasury 10-year notes rose, pushing their yield to a two-month low on speculation the Fed will keep inflation from accelerating.
- The US dollar rose a seventh straight day against the euro, prompting a $45 plunge in the price of gold to $566/oz.
- Oil fell to a three-week low as speculators sold ahead of tomorrow’s inventory data and other commodities plunged.
Wall Street Journal:
- General Motors’(GM) CEO Wagoner said fixing the company’s finances is more important than remaining the world’s largest automobile seller.
BOTTOM LINE: The Portfolio finished higher today on gains in my Retail longs, Computer longs, Energy-related shorts and Base Metal shorts. I covered some of my (QQQQ) and (IWM) shorts in the final hour, thus leaving the Portfolio 50% 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 very heavy. Measures of investor anxiety were mostly higher into the close. Overall, today's market performance was mildly bearish, however there were again some positives. A number of market-leading stocks finished higher as the leadership change away from commodities/cyclicals intensified. The CBOE total put/call finished at 1.4, an elevated level. The NYSE Arms closed at 1.32, an above-average level. The VIX surged another 14% and the ISE Sentiment Index remains depressed at 127.0. Investor sentiment remains very depressed considering the macro backdrop. I suspect the CPI and the Fed's Beige Book report may result in a nice bounce in the major averages tomorrow.
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