S&P 1,300.1294.02 -.48%
DJIA 11,331.44 -.66%
NASDAQ 2,155.29 -.58%
Russell 2000 706.47 -.78%
Wilshire 5000 12,935.19 -.50%
S&P Barra Growth 600.53 -.45%
S&P Barra Value 691.48 -.51%
Morgan Stanley Consumer 640.13 -.44%
Morgan Stanley Cyclical 802.11 -.61%
Morgan Stanley Technology 498.29 -.69%
Transports 4,223.94 -.14%
Utilities 434.64 -.02%
Put/Call .90 -28.57%
NYSE Arms .95 -24.28%
Volatility(VIX) 13.88 +1.02%
ISE Sentiment 68.0 -33.98%
US Dollar 85.56 +.54%
CRB 323.61 -.56%
Futures Spot Prices
Crude Oil 67.18 -.47%
Unleaded Gasoline 164.50 +.30%
Natural Gas 5.70 -4.82%
Heating Oil 188.77 -1.22%
Gold 623.70 -.19%
Base Metals 239.84 +1.45%
Copper 365.20 +.11%
10-year US Treasury Yield 4.78% -.21%
Leading Sectors
Homebuilders +.06%
Gaming -.09%
Retail -.10%
Lagging Sectors
Steel -1.35%
Coal -1.97%
Gold & Silver -3.48%
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
Oppenheimer:
- Rated (ADSK) Outperform.
Afternoon/Evening Headlines
Bloomberg:
- Al-Qaeda has released a videotape purporting to show Osama bin Laden and other leaders plotting the hijackings of Sept. 11, 2001.
- San Francisco Fed Bank President Janet Yellen defended the central bank’s pause from two years of interest-rate increases and said inflation may recede “faster than many forecasters expect.”
- Alcatel SA(ALA) and Lucent Technologies(LU) shareholders approved the French company’s $10.5 billion purchase of its US competitor to create the world’s largest supplier of telephone networks.
- Former WorldCom Inc. CEO Ebbers, convicted of leading an $11 billion fraud, must start serving a 25-year term Sept. 26 after losing an appeal of his conviction.
- Gold and silver in NY tumbled the most in seven weeks as the dollar strengthened against the euro, eroding the appeal of precious metals as an alternative investment.
- Oil fell to a five-month low after an EIA report showed that supplies are higher than a year ago.
- Automakers must display crash-test scores on the window stickers of most new vehicles within a year as part of a US push to showcase safety data for consumers.
- The Bush administration outlined a program today that seeks to reduce US reliance on foreign oil by boosting the use of alternative fuels such as ethanol and biodiesel.
- Natural gas dropped to the lowest in more than seven weeks in NY as mild weather cut demand, allowing utilities to build inventories for winter.
BOTTOM LINE: The Portfolio finished higher today on gains in my Semi longs, Computer longs and Commodity shorts. I added back (IWM)/(QQQQ) 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, most sectors declined and volume was slightly above average. Measures of investor anxiety were mixed into the close. Overall, today's market performance was modestly bearish. Trading was sloppy throughout the day. The homebuilders finished with a slight gain despite more negative news. Gold appears to have begun another leg lower as inflation worries continue to diminish and extreme speculation in all commodities subsides. The fact that the major averages can still fall on little new negative news likely means more sideways action in the near-term. Bloomberg reported that BP (BP) said that Prudhoe Bay could reach full capacity by the end of October. This is another headwind for oil. Oil finished floor trading near session lows and is nearing its long-term uptrend at around $66.33.
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