S&P 500 1,339.15 +.19%
DJIA 11,718.45 +.25%
NASDAQ 2,270.02 +.29%
Russell 2000 732.56 +.00%
Wilshire 5000 13,360.81 +.16%
S&P Barra Growth 621.96 +.17%
S&P Barra Value 715.05 +.21%
Morgan Stanley Consumer 656.04 +.13%
Morgan Stanley Cyclical 825.39 +.50%
Morgan Stanley Technology 534.84 +.76%
Transports 4,466.54 -.31%
Utilities 432.90 -.44%
Put/Call .85 +1.19%
NYSE Arms 1.03 -7.07%
Volatility(VIX) 11.72 +1.21%
ISE Sentiment 101.0 -12.17%
US Dollar 85.76 +.08%
CRB 305.13 +.27%
Futures Spot Prices
Crude Oil 62.51 -.71%
Unleaded Gasoline 150.00 -2.59%
Natural Gas 5.37 -5.19%
Heating Oil 170.90 -.30%
Gold 607.50 -.56%
Base Metals 233.87 +.28%
Copper 342.65 -.04%
10-year US Treasury Yield 4.61% +.34%
Leading Sectors
Semis +.95%
Computer Services +.83%
Internet +.67%
Lagging Sectors
Gold & Silver -.61%
Airlines -1.35%
Oil Tankers -1.66%
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:
- OPEC members are cutting production on a “voluntary basis,” Platts reported, citing acting secretary-general, Mohammed Barkindo. Barkindo said he met with Saudi Arabian Oil Minister Ali al-Naimi earlier this week and that the country is already reducing output. Kuwait won’t cut production based on current prices. Oil is trading down .50 despite this news.
- Natural gas dropped another 5% on record-high inventories and mild weather.
- Former American International Group(AIG) Chairman Maurice “Hank” Greenberg and the Starr Foundation will give Yale University $50 million to support China-related education program.
- Vega Select Opportunities hedge fund, known for making large bets on the bond market, dropped 8.3% in the first three weeks of September as prices for US Treasuries climbed.
- Lumber prices in Chicago fell to the lowest in more than three years on speculation Canadian suppliers are boosting shipments to the US to earn more before implementation of a softwood-lumber trading accord.
- Starbucks(SBUX) will begin selling warm breakfast sandwiches at NY-area stores next week after testing them in Seattle and Chicago.
CNBC:
- Most of Pirate Capital LLC’s analyst quit this morning following a dispute with Thomas Hudson, the founder of the $1.8 billion hedge fund.
BOTTOM LINE: The Portfolio finished slightly lower today on losses in my Medical and Retail longs. I did not trade in the final hour, thus leaving the Portfolio 100% net long. The tone of the market was modestly positive today as the advance/decline line finished slightly higher, sector performance was mixed and volume was about average. Measures of investor anxiety were mostly higher into the close. Overall, today's market performance was modestly bullish. The Dow Jones Industrial Average finished 4 points from an all-time closing high. However, the ISE Sentiment Index dropped another 12% to a very low 101.0. What is even more interesting is the persistent bearishness displayed by this group of options traders during the entire rally since July. The 50-day moving average of the ISE Sentiment Index is now the furthest below its 200-day moving-average since its inception in 2004. This bodes well for a continuation of recent broad market strength and a convincing breakout to new highs on the DJIA.
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