S&P 500 1,258.60 -1.09%
DJIA 11,013.18 -1.09%
NASDAQ 2,090.24 -1.81%
Russell 2000 701.17 -1.85%
Wilshire 5000 12,648.77 -1.12%
S&P Barra Growth 579.90 -1.14%
S&P Barra Value 677.32 -1.05%
Morgan Stanley Consumer 611.61 -.79%
Morgan Stanley Cyclical 804.30 -1.63%
Morgan Stanley Technology 469.28 -2.01%
Transports 4,788.29 -1.45%
Utilities 418.30 -.77%
Put/Call 1.15 +6.48%
NYSE Arms 1.39 +5.48%
Volatility(VIX) 14.49 +10.27%
ISE Sentiment 105.00 -3.67%
US Dollar 85.89 +.62%
CRB 352.62 +.67%
Futures Spot Prices
Crude Oil 75.08 +.17%
Unleaded Gasoline 225.50 -.04%
Natural Gas 5.79 +.29%
Heating Oil 201.60 -.12%
Gold 653.50 +.35%
Base Metals 236.99 +1.33%
Copper 366.60 +.03%
10-year US Treasury Yield 5.09% -.04%
Leading Sectors
REITs +.19%
Oil Service +.19%
HMOs -.35%
Lagging Sectors
Computer Hardware -2.68%
Semis -2.70%
Disk Drives -2.84%
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
- None of note
Afternoon/Evening Headlines
Bloomberg:
- China and Russia have agreed to support a UN resolution demanding that Iran suspend uranium enrichment or face economic penalties, France’s foreign minister said after a major-power meeting in Paris.
- Boeing(BA) raised its 20-year industry forecast for world jetliner deliveries by 5.8% because of increasing demand in Asia and the need for airlines to upgrade their fleets.
- Shares of Dell(DELL) had their biggest drop in two months on concern the world’s largest personal-computer maker will slash prices to stem a slide in sales growth.
Financial Times:
- Aviva Plc, Britain’s largest insurer, will tomorrow say it is buying AmerUs Group(AMH) of the US for about $3.67 billion including debt.
Times of London:
- Integrated Finance Ltd., the investment bank co-founded by Nobel laureate Robert Merton, has created a hedge fund focused on emerging markets. The 1998 collapse of the Harvard University professor’s Long Term Capital Management fund involved factors that aren’t unique to hedge funds, Merton said.
Aspen Times:
- Saudi Arabian Prince Bandar bin Sultan bin Abdulaziz Al-Saud is seeking $135 million for his 95-acre Starwood Ranch in Aspen, Colorado, the highest-ever real estate price in the US.
BOTTOM LINE: The Portfolio finished lower today on losses in my Semi longs, Internet longs, Computer longs and Retail longs. I added (IWM) and (QQQQ) shorts in the final hour, thus leaving the Portfolio 75% 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 higher into the close. Overall, today's market performance was bearish. The fact that yesterday's gains were completely wiped out on such little negative news does not bode well for the near term. However, the final stage of this correction is likely underway as the indiscriminate selling has accelerated and all news is being interpreted in a negative light. On the positive side, volume was only around average today and my intraday measures of investor angst rose markedly into the afternoon. Biotech continues to display relative strength.
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