S&P 500 1,382.84 +.22%
DJIA 12,156.77 +.42%
NASDAQ 2,375.88 +.42%
Russell 2000 764.39 +.17%
Wilshire 5000 13,835.35 +.20%
S&P Barra Growth 642.48 +.23%
S&P Barra Value 738.13 +.21%
Morgan Stanley Consumer 674.86 +.47%
Morgan Stanley Cyclical 854.68 -.05%
Morgan Stanley Technology 556.69 +.32%
Transports 4,718.71 +.51%
Utilities 442.61 -.17%
Put/Call .76 +1.33%
NYSE Arms 1.11 +77.16%
Volatility(VIX) 11.09 -.63%
ISE Sentiment 172.0 +6.17%
US Dollar 85.41 -.40%
CRB 311.25 -.15%
Futures Spot Prices
Crude Oil 59.07 -1.58%
Unleaded Gasoline 152.45 -.29%
Natural Gas 7.75 +3.52%
Heating Oil 168.30 -2.06%
Gold 626.50 -.19%
Base Metals 248.82 +1.67%
Copper 335.0 -.46%
10-year US Treasury Yield 4.66% -.76%
Leading Sectors
Semis +1.91%
Airlines +1.57%
Networking +1.17%
Lagging Sectors
Energy -.92%
REITs -1.02%
Coal -2.05%
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:
- Rated (RCL) Buy, target $49.
- Rated (CCL) Buy, target $54.
- Rated (ATVI) Buy, target $19.
- Rated (THQI) Buy, target $36.
Afternoon/Evening Headlines
Bloomberg:
- The DJIA made another all-time high today and is 13% higher for the year.
- Crude oil fell more than $1/bbl. to $58.93/bbl. on speculation that US inventories rose and doubts that OPEC will make promised output cuts.
- Hedge funds globally returned an average of 1.98% in October as manager failed to keep pace with gains by the S&P 500 and other market benchmarks, according to data compiled by Hedge Fund Research.
- National Semi(NSM) said second-quarter revenue will decline more than previously thought. The stock fell .25 cents in after-hours trading.
- Consumer borrowing in the US unexpectedly declined for the first time in six months in September as Americans took out fewer car loans and spent less at the gasoline pump.
- Saudi Aramco, the world’s largest state-owned oil company, expects in coming months to finish hiring all the rigs it needs to explore for oil and natural gas for years.
Wall Street Journal:
- Dean Baquet, editor of the LA Times, will leave under pressure from newspaper owner Tribune(TRB).
Die Welt:
- German Chancellor Angela Merkel’s panel of economic advisers, known as the Five Wise Men, expect the economy to grow 1.8% next year after expanding 2.4% in 2006.
BOTTOM LINE: The Portfolio finished slightly higher today on gains in my Retail longs, Semi longs and Telecom 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, most sectors gained and volume was above average. Measures of investor anxiety were mostly higher into the close. Today's overall market action was bullish. The DJIA made another all-time high. The market's ability to build on yesterday's sharp gains into still significant election uncertainty was a positive. The 10-year treasury finished off session highs, but the yield was still 3 basis points lower on the day. Technology and Consumer stocks outperformed throughout the day. I expect stocks to build on this week's gains towards week's end after a brief pause.
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