S&P 500 1,145.98 +.29%
DJIA 10,071.25 -.16%
NASDAQ 1,912.92 +.25%
Russell 2000 585.33 +.78%
DJ Wilshire 5000 11,281.60 +.33%
S&P Barra Growth 554.25 +.12%
S&P Barra Value 587.43 +.47%
Morgan Stanley Consumer 575.56 -.59%
Morgan Stanley Cyclical 698.34 +.79%
Morgan Stanley Technology 426.15 +.29%
Transports 3,405.31 +.66%
Utilities 358.81 +.61%
Put/Call .96 -36.42%
NYSE Arms .94 -42.87%
Volatility(VIX) 16.56 -6.56%
ISE Sentiment 133.00 -6.34%
US Dollar 84.00 -.66%
CRB 297.69 -.38%
Futures Spot Prices
Crude Oil 50.49 +.26%
Unleaded Gasoline 150.20 +.51%
Natural Gas 6.94 -.14%
Heating Oil 144.76 +.37%
Gold 429.00 unch.
Base Metals 124.64 +.07%
Copper 144.50 unch.
10-year US Treasury Yield 4.27% +.70%
Leading Sectors
Steel +3.0%
Gold & Silver +1.92%
Energy +1.71%
Lagging Sectors
Drugs -.74%
Hospitals -1.19%
HMOs -1.76%
After-hours Movers
TXN +5.67% after beating 1Q estimates and raising 2Q outlook.
Evening Review
Detailed Market Summary
Daily ETF Performance
Style Performance
Market Wrap CNBC Video(bottom right)
S&P 500 Gallery View
Timely Economic Charts
PM Market Call
Real-time/After-hours Stock Quote
In Play
Afternoon Recommendations
Goldman Sachs:
- Reiterated Outperform on MMM, MDT and BAC.
Merrill Lynch:
- Raised RRD to Buy, target $38.
Afternoon/Evening Headlines
Bloomberg:
- Iran ordered Al-Jazeera to suspend operations at its Tehran bureau for an unspecified period, following its reporting on civil unrest along the Iraq border.
- AstraZeneca’s Iressa doesn’t improve survival for lung-caner patients, according to US government researchers who decided to halt a study of the company’s medicine.
Wall Street Journal:
- Walt Disney plans to move “Monday Night Football” from its ABC television network to ESPN in 2006.
Financial Times:
- The US Treasury Department may name China as a currency manipulator for the first time since 1994.
BOTTOM LINE: US stocks finished mixed today as continuing worries over slowing growth offset bargain-hunting. The Portfolio finished slightly lower on losses in my Oil Tanker shorts and Retail longs. I did not trade in the afternoon, thus leaving the Portfolio 75% net long. The tone of the market was mixed into the afternoon as the advance/decline finished almost unchanged, most sectors were higher and volume was about average. Measures of investor anxiety were mostly lower into the afternoon. Overall, today’s market action was mixed, considering another decline in the CRB Index, the market’s oversold state and Asia’s losses. Investor anxiety over the upcoming PPI/CPI reports is high. I believe a larger-than-expected increase in these measures of inflation is already factored in at this point. Given the market’s positive reaction to the TXN report after the close, I would expect US stocks to rise tomorrow after the PPI report.
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