S&P 500 1,263.85 -.11%
DJIA 11,002.14 -.42%
NASDAQ 2,162.78 -.32%
Russell 2000 710.96 -.41%
Wilshire 5000 12,722.96 -.25%
S&P Barra Growth 584.53 -.01%
S&P Barra Value 677.63 -.22%
Morgan Stanley Consumer 601.24 +.04%
Morgan Stanley Cyclical 817.50 -1.12%
Morgan Stanley Technology 496.31 -.53%
Transports 4,608.38 -.24%
Utilities 410.86 -.22%
Put/Call .96 -20.66%
NYSE Arms 1.08 -61.36%
Volatility(VIX) 17.34 +4.14%
ISE Sentiment 108.00 -11.48%
US Dollar 84.77 +.75%
CRB 344.78 -1.15%
Futures Spot Prices
Crude Oil 72.45 -.07%
Unleaded Gasoline 218.25 +.17%
Natural Gas 6.38 -.03%
Heating Oil 204.24 -.01%
Gold 633.20 -.24%
Base Metals 219.31 -2.65%
Copper 347.00 -.56%
10-year US Treasury Yield 5.00% -.32%
Leading Sectors
Telecom +.93%
Restaurants +.21%
Networking +.13%
Lagging Sectors
Alternative Energy -1.95%
Homebuilders -2.78%
Gold & Silver -2.80%
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
Oppenheimer:
- Rated (TWI) Buy, target $26.
Banc of America:
- Rated (BA) Buy, target $93.
- Rated (GD) Buy, target $72.
- Rated (JOYG) Buy, target $62.
- Rated (CAT) Buy, target $80.
Afternoon/Evening Headlines
Bloomberg:
- Fidelity Investments had its debt outlook lowered to negative from stable by S&P, which said the world’s largest mutual fund manager has lost ground to competitors.
- The US dollar will strengthen against the euro by the first quarter of 2007 as the US economy slows and the trade deficit narrows, according to HBOS Group.
- Harvard University researchers have entered the race to do what Korean scientist Hwang Woo Suk falsely claimed to have accomplished last year: clone a human embryo in the lab to create stem cells genetically matched to a living person.
- Lawyers for 15 Canadian men accused of a terrorist plot to blow up Ontario landmarks said prosecutors are charging one of the defendants with planning to storm parliament and behead Prime Minister Stephen Harper.
- President Bush said Iran’s response to a US-backed initiative aimed at resolving a standoff over the Islamic Republic’s nuclear program is a “positive” first step toward negotiations.
- Money manager Mario Gabelli has settled a civil lawsuit alleging he defrauded the US government by using “sham” companies to win cellular phone licenses.
BBC:
- President Putin has commended the cooperation between Russia and the US over Iran.
BOTTOM LINE: The Portfolio finished slightly higher today on gains in my Internet longs, Networking longs and Commodity 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 negative today as the advance/decline line finished lower, most sectors fell and volume was above average. Measures of investor anxiety were mixed into the close. Overall, today's market performance was mildly bearish, however there were a number of positives. I continue to believe the major averages are near a meaningful bottom. The Johnson Redbook same-store sales index rose 3.3% year over year last week vs. a 3.1% rise the prior week. The long-term average is a gain of around 2.5%. I expect to see retail sales decelerate back to average levels by next month.
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