S&P 500 1,393.22 +.64%
DJIA 12,218.01 +.71%
NASDAQ 2,430.66 +1.01%
Russell 2000 785.06 +1.64%
Wilshire 5000 13,971.84 +.73%
S&P Barra Growth 646.12 +.77%
S&P Barra Value 745.00 +.50%
Morgan Stanley Consumer 671.50 +.35%
Morgan Stanley Cyclical 871.72 +.38%
Morgan Stanley Technology 576.03 +1.36%
Transports 4,764.73 -.20%
Utilities 450.14 +.21%
Put/Call .82 +3.80%
NYSE Arms .95 +15.81%
Volatility(VIX) 10.50 -3.31%
ISE Sentiment 135.0 -6.90%
US Dollar 85.24 -.15%
CRB 308.43 +.13%
Futures Spot Prices
Crude Oil 58.35 -.39%
Unleaded Gasoline 154.30 +.39%
Natural Gas 7.98 +1.15%
Heating Oil 166.67 +.40%
Gold 621.70 -.58%
Base Metals 236.69 +2.76%
Copper 312.40 unch.
10-year US Treasury Yield 4.57% -.89%
Leading Sectors
Homebuilders +3.49%
Semis +2.83%
Retail +2.29%
Lagging Sectors
Steel +.16%
Coal -.10%
Gold & Silver -1.07%
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 (JTX), (MGRC), (ARP), (WLSC) and (SRCL) Sector Outperformers.
Afternoon/Evening Headlines
Bloomberg:
- President Bush, meeting with the heads of the big three US auto companies, said the industry remains crucial part of the US economy and the government and automakers share common concerns.
- Shares of Dillard’s Inc.(DDS) rose to their highest in 26 years after it posted an unexpected third-quarter profit that beat analysts’ estimates.
- Analog Devices(ADI), whose semiconductors are used in products ranging from mobile phones to cars, said fourth-quarter profit doubled as costs declined. The shares surged 6% in after-hours trading.
- Using radiation therapy to fight cancer that remains after the removal of the prostate gland appears to reduce the risk that the disease will come back and extends a patient’s lifespan, a study found.
- Federal Reserve Bank of St. Louis President William Poole said the central bank’s interest-rate stance is “about right.”
Nikkei English News:
- Nintendo Co. will ship nearly 400,000 Wii video-game consoles to retailers in Japan for the machine’s Dec. 2 release.
BOTTOM LINE: The Portfolio finished higher today on gains in my Internet longs, Semi longs, Medical longs and Retail longs. I did not trade 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 above average. Measures of investor anxiety were mostly higher into the close. Today's overall market action was very bullish. Homebuilders, Retailers and Tech paced today's gainers. Commodity stocks lagged throughout the day. The Saudi Tadawul Index fell another 5% today and is testing recent lows. Comex copper inventories surged another 4% and are near nine-month highs. Pension and other investment funds poured $110 billion into commodity indexes over the last 12 months, double their 2005 investment, according to a recent American International Group report. Notwithstanding this record infusion of capital and numerous potential upside catalysts, the CRB Index is down 2% over the last year, down 7% year-to-date and down 16% over the last six months. I continue to believe most commodities will fall to levels recently thought unimaginable during the next substantial global downturn. The 10-year yield fell another 4 basis points today after the PPI matched its largest monthly decline in U.S. history. I expect stocks to build on today's gains through week's end on less political uncertainty, diminishing inflation worries, rising holiday spending optimism, lower energy prices, seasonal strength, strong corporate profits, investment manager performance anxiety and short-covering.
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