S&P 500 1,245.60 -.53%
DJIA 11,019.11 -.54%
NASDAQ 2,122.98 -.85%
Russell 2000 688.04 -.38%
Wilshire 5000 12,504.22 -.50%
S&P Barra Growth 577.23 -.61%
S&P Barra Value 666.55 -.45%
Morgan Stanley Consumer 602.45 -.34%
Morgan Stanley Cyclical 802.54 -.48%
Morgan Stanley Technology 486.51 -1.34%
Transports 4,737.88 -.58%
Utilities 404.33 -.52%
Put/Call 1.10 +23.60%
NYSE Arms 1.05 +64.72%
Volatility(VIX) 15.88 +2.32%
ISE Sentiment 173.00 +54.46%
US Dollar 86.42 +.75%
CRB 336.13 -.18%
Futures Spot Prices
Crude Oil 71.0 +.23%
Unleaded Gasoline 212.50 +.33%
Natural Gas 6.42 -.22%
Heating Oil 197.19 +.01%
Gold 584.00 -.24%
Base Metals 201.75 -.81%
Copper 307.00 +.71%
10-year US Treasury Yield 5.21% +1.07%
Leading Sectors
Airlines +1.37%
Tobacco +.45%
Energy +.44%
Lagging Sectors
Networking -1.42%
Internet -1.60%
Wireless -2.33%
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
Sanford Berstein:
- Upgraded (MCHP) to Outperform, target $40.
Banc of America:
- Rated (TSCO) Buy, target $66.
Deutsche Bank:
- Rated (HGSI) Buy, target $19.
Afternoon/Evening Headlines
Bloomberg:
- Google(GOOG) sold its 2.6% stake in China’s Baidu.com(BIDU) and said it will focus on developing its own business in the country.
- Iran is providing weapons and training to Shiite extremist groups in Iraq who are attacking US troops and Iraqi security forces, said General George Casey, the top American military commander in Iraq.
- Oracle Corp.(ORCL) said fourth-quarter profit gained 27% and forecast earnings and sales will rise again this period.
- The House of Representatives voted to give President Bush a form of the line-item veto in what supporters said was a bid to help reduce wasteful spending.
London-based Times:
- The Iraqi government will announce a 28-point peace agreement as early as June 25 that would include an amnesty for prisoners who renounce violence to bring an end to the country’s Sunni insurgency.
BOTTOM LINE: The Portfolio finished slightly higher today on gains in my Medical longs, Computer longs and Semi longs. I did not trade in the final hour, thus leaving the Portfolio 75% net long. The tone of the market was negative today as the advance/decline line finished lower, most sectors fell and volume was below average. Measures of investor anxiety were mostly higher into the close. Overall, today's market performance was mildly bearish. Weakness in tech and bonds was disappointing for the bulls. There were some bright spots, however. There are some very encouraging signs in the growth stock arena. Volume was light on today’s decline and breadth closed well off session lows. The dollar index maintained gains throughout the day, finishing 0.73% higher. I expect US stocks to turn in a better performance tomorrow.
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