S&P 500 1,275.77 -.28%
DJIA 11,219.38 -.19%
NASDAQ 2,072.50 -.60%
Russell 2000 696.05 -.74%
Wilshire 5000 12,759.68 -.34%
S&P Barra Growth 587.29 -.20%
S&P Barra Value 687.15 -.35%
Morgan Stanley Consumer 618.70 -.28%
Morgan Stanley Cyclical 791.71 +.16%
Morgan Stanley Technology 464.29 -.71%
Transports 4,316.43 -1.42%
Utilities 430.37 -.85%
Put/Call .86 -26.50%
NYSE Arms 1.01 -30.26%
Volatility(VIX) 15.23 +6.21%
ISE Sentiment 115.00 +6.48%
US Dollar 84.75 +.20%
CRB 351.95 +.54%
Futures Spot Prices
Crude Oil 77.13 +3.17%
Unleaded Gasoline 226.00 +1.28%
Natural Gas 6.92 -4.43%
Heating Oil 214.80 +2.79%
Gold 660.70 +.18%
Base Metals 230.46 +.38%
Copper 362.25 +.33%
10-year US Treasury Yield 4.91% +.49%
Leading Sectors
Steel +1.38%
Gold & Silver +1.13%
Homebuilders +.84%
Lagging Sectors
Biotech -1.45%
Disk Drives -1.54%
Broadcasting -2.67%
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
Merrill Lynch:
- Rated (EMMS) Buy, target $15.
Afternoon/Evening Headlines
Bloomberg:
- Rupert Murdoch’s News Corp.(NWS/A) chose Google(GOOG) to provide search for its MySpace.com Web site, handing a defeat to Microsoft(MSFT).
- Blackstone Group LP dropped plans to pursue a rival bid for HCA Inc.(HCA) because it would be too expensive.
- Energy Secretary Bodman said the US will release oil from the nation’s strategic reserve if asked to make up for the loss of supplies from Alaska, where BP Plc is shutting the nation’s biggest oil field.
- Borrowing by US consumers unexpectedly accelerated in June, a Fed report showed today.
- Wal-Mart(WMT) said it will raise the starting pay rates for employees at locations in the US.
AFP:
- Lebanon is ready to send 15,000 troops in the south up to the Israeli border when Israel pulls all of its soldiers from the area, citing Lebanese Information Minister Gazi Aridi.
BOTTOM LINE: The Portfolio finished lower today on losses in my Medical longs, Computer longs and Commodity shorts. I added (QQQQ) and (IWM) hedges 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, sector performance was mostly negative and volume was below average. Measures of investor anxiety were mostly lower into the close. Overall, today's market performance was mildly bearish. Consumer Credit for June just came in at $10.3 billion vs. estimates of $3.6 billion and an upwardly revised $5.9 billion in May. I still see little evidence that consumer spending is slowing substantially.
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