Portfolio Manager's Commentary on Investing and Trading in the U.S. Financial Markets
Monday, December 31, 2007
Year-end Scoreboard*
S&P 500 1,468.36 +5.49%
DJIA 13,264.82 +8.88%
NASDAQ 2,652.28 +10.66%
Russell 2000 766.03 -1.24%
Morgan Stanley Consumer 737.78 +8.29%
Morgan Stanley Cyclical 1,001.73 +14.72%
Morgan Stanley Technology 622.51 +10.24%
Transports 4,570.55 +1.43%
Utilities 532.53 +20.11%
NYSE Cum A/D Line 60,403 +4.0%
Volatility(VIX) 22.50 +94.6%
AAII % Bulls 30.0 -34.8%
AAII % Bears 50.0% +38.9%
US Dollar 76.63 -7.9%
CRB 358.71 +16.75%
10-year yield 4.03% -67 basis points
Style Performance
Large-cap Growth 611.94 +11.81%
Large-cap Value 796.04 -.18%
Mid-cap Growth 453.10 +11.42%
Mid-cap Value 1,085.23 -1.42%
Small-cap Growth 421.17 +7.05%
Small-cap Value 1,059.69 -9.76%
This Year’s Winners
This Year’s Losers
*1 Year Total Return
Stocks Finish Near Session Lows on Year-end Profit-taking in Best Performing Sectors
Market Summary
Today’s Movers
Market Performance Summary
WSJ Data Center
Sector Performance
ETF Performance
Style Performance
Commodity Movers
Market Wrap CNBC Video(bottom right)
S&P 500 Gallery View
Timely Economic Charts
GuruFocus.com
PM Market Call
After-hours Commentary
After-hours Movers
After-hours Stock Quote
In Play
Stocks Lower into Finaly Hour as Profit-taking Offsets Short-covering
Today's Headlines
Bloomberg:
- Nasdaq Stock Market(NDAQ) obtained clearance from the Committee on Foreign Investment in the US for Borse Dubai to take a stake in the company, paving the way for its acquisition of OMX AB.
- Pakistan’s Election Commission will announce tomorrow whether the Jan. 8 parliamentary vote should be delayed in response to rioting that erupted after last week’s assassination of main opposition leader Benazir Bhutto.
- Copper is falling 1.0% today, heading for the smallest annual gain since 2001.
- Europe’s Dow Jones Stoxx 600 Index posted its first annual decline since 2002, as benchmarks in the UK and France dropped on the last day of trading in 2007.
- Borrowing costs for Citigroup, AT&T and hundreds of US investment-grade corporate bond issuers may fall next year as they refinance about $557 billion of bonds, according to data compiled by Bank of America.
- Delta Petroleum(DPTR), the US oil and gas producer that has posted five straight quarterly losses, said billionaire Kirk Kerkorian’s Tracinda Corp. will buy 35% of the company for $684 million.
Wall Street Journal:
- A veteran space scientist turned entrepreneur is making a big bet that a new generation of small, low-cost satellites can revolutionize the collection of weather and environmental data used to track storms and monitor climate shifts.
- Celanese Corp., Dow Chemical and Anglo American Plc are among Western companies seeking to profit from a Chinese boom in coal-to-chemicals projects.
NY Times:
- Disney(DIS) Expands Virtual Games for Children.
- Google’s(GOOG) Market Share Grows and Grows and Grows.
- Mac owners more likely to download music.
iLounge:
- Apple readying HD Radio push for Macworld.
- President Bush signed legislation Monday to allow states and local governments to cut investment ties with Sudan because of the violence in Darfur.
Bear Radar
Style Underperformer:
Small-cap Growth (-.97%)
Sector Underperformers:
Gold (-1.81%), Alternative Energy (-1.74%) and Papers (-1.54%)
Stocks Falling on Unusual Volume:
Existing Home Sales Rise
- Existing Home Sales for November rose to 5.00M versus estimates of 4.97M and an upwardly revised 4.98M in October.