S&P 500 1,278.55 +.60%
DJIA 11,199.93 +.67%
NASDAQ 2,078.81 +.82%
Russell 2000 696.81 +1.0%
Wilshire 5000 12,788.39 +.63%
S&P Barra Growth 588.32 +.61%
S&P Barra Value 688.93 +.59%
Morgan Stanley Consumer 618.57 +.63%
Morgan Stanley Cyclical 783.11 +1.30%
Morgan Stanley Technology 465.17 +1.32%
Transports 4,327.59 +.75%
Utilities 438.05 -.04%
Put/Call .80 -12.09%
NYSE Arms 1.01 -5.68%
Volatility(VIX) 14.34 -4.72%
ISE Sentiment 127.00 +11.40%
US Dollar 85.15 +.18%
CRB 353.69 +1.18%
Futures Spot Prices
Crude Oil 76.09 +.37%
Unleaded Gasoline 234.85 +.46%
Natural Gas 7.92 +1.55%
Heating Oil 214.00 +.50%
Gold 662.50 -.24%
Base Metals 229.72 +.53%
Copper 358.45 -.18%
10-year US Treasury Yield 4.95% -.37%
Leading Sectors
HMOs +3.69%
Software +2.88%
Gaming +2.82%
Lagging Sectors
Insurance -.22%
Broadcasting -.25%
Drugs -.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
- None of note
Afternoon/Evening Headlines
Bloomberg:
- Comerica(CMA) may sell its Munder asset-management unit to Crestview Partners LLC, a private-equity firm founded by two former partners of Goldman Sachs(GS).
- Wall Street companies dimmed their lights, cut back on air-conditioning and shut down their signs and advertising displays to do their part to reduce energy use during a punishing heat wave in NY.
- Shares of Starbucks(SBUX) dropped 7.5% after the company said July sales at stores open more than a year rose 4%, missing analysts’ estimates.
BOTTOM LINE: The Portfolio finished higher today on gains in my Medical longs, Computer longs and Biotech longs. I did not trade in the final hour, thus leaving the Portfolio 75% net long. The tone of the market was positive today as the advance/decline line finished higher, sector performance was mostly positive and volume was about average. Measures of investor anxiety were lower into the close. Overall, today's market performance was mildly bullish. The averages and most stocks are slowly mending technically. Google's (GOOG) recent weakness is disappointing considering the overwhelmingly strong fundamentals and reasonable valuation. I expect it is caught in the same type of technical selling that recently engulfed Apple Computer (AAPL). I will be very surprised if Google isn't substantially higher by year-end. I remain long the stock. Tomorrow's retail sales could be disappointing to some as I suspect a few shoppers just chose to stay out of the heat all together. I still expect the back-to-school selling season to exceed lowered expectations.
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