S&P 500 1,285.58 +1.37%
DJIA 11,230.26 +1.19%
NASDAQ 2,115.01 +2.22%
Russell 2000 697.83 +2.36%
Wilshire 5000 12,835.40 +1.47%
S&P Barra Growth 594.03 +1.29%
S&P Barra Value 689.91 +1.45%
Morgan Stanley Consumer 627.54 +.98%
Morgan Stanley Cyclical 788.58 +1.95%
Morgan Stanley Technology 485.58 +3.50%
Transports 4,282.82 +2.90%
Utilities 438.20 +.81%
Put/Call .84 +5.0%
NYSE Arms .68 -36.60%
Volatility(VIX) 13.42 -5.89%
ISE Sentiment 100.0 -4.45%
US Dollar 85.22 -.53%
CRB 338.76 -.02%
Futures Spot Prices
Crude Oil 72.91 -.84%
Unleaded Gasoline 199.78 +.37%
Natural Gas 6.86 -.77%
Heating Oil 202.40 +.46%
Gold 634.90 +.32%
Base Metals 226.85 +.76%
Copper 348.00 -.27%
10-year US Treasury Yield 4.92% -1.33%
Leading Sectors
Semis +3.72%
Computer Hardware +3.39%
Networking +3.38%
Lagging Sectors
Foods +.53%
Energy +.35%
Hospitals -.12%
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
Bank of America:
- Rated (EMR), (HON) and (GE) Buy.
Afternoon/Evening Headlines
Bloomberg:
- David Einhorn, the hedge fund manager who put pressure on Microsoft’s(MSFT) Steve Ballmer to buy back stock, purchased 8.9 million shares during the second quarter.
- Abercrombie & Fitch(ANF) said second-quarter profit rose 14%, buoyed by sales of shorts and fleece.
- US Treasury 10-year notes rose the most in almost a month after a report showing wholesale price inflation slowed prompted traders to increase bets the Fed is finished raising rates.
- Teck Comino Ltd. said it’s prepared to offer $17.8 billion and put up more cash in a push to win the bidding for Inco Ltd.(N), the Canadian mining company at the center of a three-way takeover contest.
- The US froze the assets of two Syrian military commanders, saying one of them helped support Hezbollah and that both contributed to their government’s interference in Lebanese affairs.
- Applied Materials(AMAT) reported third-quarter profit increased 39% as the company benefited from a surge in demand.
BOTTOM LINE: The Portfolio finished higher today on gains in my Semi longs, Computer longs, Retail longs, Medical longs and Internet longs. I added to my (GILD) and (PWR) longs and took profits in a trading short in the final hour, thus leaving the Portfolio 100% net long. The tone of the market was very positive today as the advance/decline line finished substantially higher, almost every sector rose and volume was about average. Measures of investor anxiety were mixed into the close. Overall, today's market performance was very bullish as the major averages and breadth finished near session highs. Several key technical resistance levels gave way today. Unloved growth stocks put in the best showing with many rising 4%-6%. Tech was the best performing sector. Oil finished down about .50 to session lows despite a U.S. dollar decline and more saber-rattling from Iran. I suspect we will build on today's gains tomorrow even if the CPI comes in above estimates.
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