S&P 500 1,334.11 +.21%
DJIA 11,727.34 +.49%
NASDAQ 2,243.65 +.27%
Russell 2000 718.35 -.06%
Wilshire 5000 13,282.11 +.11%
S&P Barra Growth 617.75 +.12%
S&P Barra Value 714.47 +.29%
Morgan Stanley Consumer 653.63 +.46%
Morgan Stanley Cyclical 818.49 -.26%
Morgan Stanley Technology 528.53 +.28%
Transports 4,469.96 +.82%
Utilities 431.29 +.17%
Put/Call 1.17 +4.46%
NYSE Arms 1.15 -13.77%
Volatility(VIX) 12.24 -2.63%
ISE Sentiment 124.0 +.81%
US Dollar 85.71 +.13%
CRB 295.13 -2.07%
Futures Spot Prices
Crude Oil 58.45 -4.23%
Unleaded Gasoline 145.75 -3.39%
Natural Gas 5.75 +2.06%
Heating Oil 165.10 -2.99%
Gold 579.70 -.31%
Base Metals 229.14 -1.72%
Copper 328.50 +.08%
10-year US Treasury Yield 4.61% +.25%
Leading Sectors
Airlines +3.07%
Retail +1.63%
I-Banks +1.15%
Lagging Sectors
Oil Tankers -3.90%
Oil Service -4.41%
Gold & Silver -6.63%
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:
- Upgraded (TM) to Buy.
Afternoon/Evening Headlines
Bloomberg:
- The Dow Jones Industrial Average eclipsed its 2000 high as a two-month plunge in oil prices accelerated, improving the outlook for consumer spending.
- Crude oil in NY dropped the most in almost 14 months as investment funds continued paring speculative bets on a rise in the commodity.
- Valero Energy(VLO), the largest US oil refiner, said it expects to report third-quarter profit of $2.25 to $2.35 a share, less than analysts expected.
- Billionaire investor Carl Icahn refused to support a $36-a-share bid for ImClone Systems(IMCL), the biotechnology company said in a filing today.
- Porsche AG said vehicle sales rose 3% in September on demand for the Boxster and 911 sports cars.
- Venezuela’s benchmark bond fell the most in almost a year after crude oil declined to a seven-month low, raising concern that the country’s oil-dependent economy may falter.
- Construction spending in NYC will rise to a record $20.8 billion this year and exceed $21 billion in each of the next two years, fueled by a surge in public spending, said the NY Building Congress.
- Toyota Motor’s(TM) US sales jumped 25% in September, led by smaller, more fuel-efficient cars, while General Motors(GM) posted a 3.1% sales decline and cut its fourth-quarter production forecast.
- Private-equity funds have gathered $300 billion this year, led by 13 buyout funds that account for about a third of the total, according to a report by Private Equity Intelligence.
Wall Street Journal:
- Intel(INTC) could face European Union antitrust charges as part of a five-year probe.
El Universal:
- Venezuela may be headed “down the road of Cuba” on free speech issues as a “kill-the-messenger” attitude gains strength in the law and among the populace, said Inter American Press Assoc. President Diana Daniels.
BOTTOM LINE: The Portfolio finished higher today on gains in my Retail longs, Internet longs and Commodity shorts. I did not trade in the final hour, thus leaving the Portfolio 100% net long. The tone of the market was neutral today as the advance/decline line finished slightly lower, sector performance was mostly positive and volume was above average. Measures of investor anxiety were mixed into the close. Overall, today's market performance was mildly bullish. I sense the serious declines in many commodities are resulting in another round of margin selling by investment funds in high beta stocks. I think the fact that the DJIA made a new all-time high is a huge deal due to the psychological ramifications. I think most Americans will be stunned when they see this headline. However, I'm sure that it won't be a headline most places or will be downplayed due to the current “negativity bubble.” I expect stocks to break convincingly higher on better breadth over the coming weeks.
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