S&P 500 1,206.58 +.22%
DJIA 10,566.37 +.18%
NASDAQ 2,074.92 +.28
Russell 2000 637.19 +.44%
DJ Wilshire 5000 11,962.12 +.23%
S&P Barra Growth 579.50 +.17%
S&P Barra Value 622.75 +.27%
Morgan Stanley Consumer 583.32 -.12%
Morgan Stanley Cyclical 732.17 +.63%
Morgan Stanley Technology 478.97 +.25%
Transports 3,527.22 +.46%
Utilities 373.94 -.43%
Put/Call .83 +1.22%
NYSE Arms .88 -5.23%
Volatility(VIX) 11.46 -2.80%
ISE Sentiment 213.00 +15.14%
US Dollar 88.65 -.73%
CRB 306.98 +.66%
Futures Spot Prices
Crude Oil 55.31 -.47%
Unleaded Gasoline 155.65 -.38%
Natural Gas 7.40 -.55%
Heating Oil 162.00 -.07%
Gold 430.90 unch.
Base Metals 124.10 +.75%
Copper 154.90 unch.
10-year US Treasury Yield 4.09% -.19%
Leading Sectors
Steel +3.37%
Gold & Silver +1.58%
Homebuilders +1.37%
Lagging Sectors
Restaurants -.50%
Airlines -1.07%
Oil Tankers -1.20%
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
Goldman Sachs:
- Reiterated Outperform on TAP.
Afternoon/Evening Headlines
Bloomberg:
- A panel headed by former US Senator George Mitchell and former House Speaker Newt Gingrich faulted the UN today for failing to combat genocide and safeguard human rights and urged wide changes in the body.
- The US Senate approved an amendment to the $13 billion energy bill that would require oil companies to mix 8 billion gallons of ethanol a year into the nation’s gasoline supply by 2012 to reduce reliance on foreign oil.
- General Motors’ program to offer an employee discount to all US buyers is increasing the volume of shoppers by as much as 30% at dealerships in markets with historically low GM sales, an analyst said.
- The US dollar fell against the euro for the first day in six after government reports showed inflation decelerating.
CNBC:
- Citadel Holdings and Merrill Lynch are expected to buy 10% each in the Philadelphia Stock Exchange.
BOTTOM LINE: The Portfolio finished slightly higher on gains in my Retail, Homebuilding longs and Oil Tanker shorts. I exited a few shorts and added to my GOOG long in the afternoon, thus leaving the Portfolio 75% net long. The tone of the market was modestly positive today as the advance/decline finished slightly higher, sector performance was mixed and volume was very light. Measures of investor anxiety were mostly lower into the close. Overall, today’s market action was modestly positive considering the major indices and breadth closed at session highs. The bears had their chance to get a grip on the market in the morning and failed to do so. Comments from the Fed's Beige Book and a pullback in oil/long-term rates spurred the afternoon rally. I now expect the Dow and S&P to break out to the upside of their trading ranges of the last couple of weeks. This should occur within the next few days.
No comments:
Post a Comment