S&P 500 1,331.33 -.34%
DJIA 11,670.35 -.07%
NASDAQ 2,237.60 -.92%
Russell 2000 718.81 -.93%
Wilshire 5000 13,267.09 -.42%
S&P Barra Growth 616.99 -.48%
S&P Barra Value 712.39 -.20%
Morgan Stanley Consumer 650.62 -.44%
Morgan Stanley Cyclical 820.66 +.13%
Morgan Stanley Technology 527.03 -.79%
Transports 4,433.11 -.46%
Utilities 430.57 +.51%
Put/Call 1.12 +34.94%
NYSE Arms 1.20 +39.64%
Volatility(VIX) 12.57 +4.92%
ISE Sentiment 119.00 +48.75%
US Dollar 85.60 -.50%
CRB 301.36 -1.38%
Futures Spot Prices
Crude Oil 60.96 -3.08%
Unleaded Gasoline 150.75 -3.02%
Natural Gas 5.63 +.27%
Heating Oil 169.80 -3.17%
Gold 600.20 -.51%
Base Metals 233.15 -.08%
Copper 341.35 -.47%
10-year US Treasury Yield 4.60% -.43%
Leading Sectors
Gaming +2.87%
Airlines +1.13%
Homebuilders +.90%
Lagging Sectors
Energy -1.20%
Software -1.38%
Oil Service -2.58%
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:
- US gasoline prices at the pump fell for an eighth straight week, dropping 6.8 cents to a nationwide average of $2.31/gallon.
- Crude oil plunged almost $2/bbl. to below $61/bbl. on speculation that the decision by Venezuela and Nigeria to cut output will have little impact on supply.
- Brazil’s stocks and currency rose on expectations President Luiz Inacio Lula da Silva will be forced to moderate spending plans to prevail in a run-off against opposition candidate Geraldo Alckmin.
- Marvell Technology Group(MRVL) said sales for the third-quarter ending this month will be about 10% below second-quarter revenue on lower-than-expected demand for disk drives.
AP:
- Iraqi Prime Minister Nuri al-Maliki announced a peace plan today intended to unite the Shiite and Sunni factions in his government behind efforts to stop sectarian violence.
AFP:
- The head of Russia’s security council will meet Iran’s nuclear negotiator, Ali Larijani, in Tehran tomorrow.
BOTTOM LINE: The Portfolio finished lower today on losses in my Medical longs, Computer longs and Biotech longs. I added (IWM) and (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 fell and volume was about average. Measures of investor anxiety were mostly higher into the close. Overall, today's market performance was bearish. The growth rate of ECRI's Future Inflation Gauge fell 4.2% in the week ended Sept. 15. The gauge was rising at a 9% rate in October 2005. Besides runaway speculation on their continued rise, many investment funds had been loading up on commodities as an inflation hedge. This is another hindrance to the paper demand for the futures of the underlying commodities.
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