S&P 500 1,200.93 +.52%
DJIA 10,503.02 +.25%
NASDAQ 2,076.91 +.81%
Russell 2000 626.23 +.93%
DJ Wilshire 5000 11,890.26 +.58%
S&P Barra Growth 579.56 +.55%
S&P Barra Value 619.93 +.50%
Morgan Stanley Consumer 582.95 +.21%
Morgan Stanley Cyclical 718.20 -.24%
Morgan Stanley Technology 483.86 +.85%
Transports 3,529.21 -.24%
Utilities 370.99 +.19%
Put/Call .88 -4.35%
NYSE Arms .73 -18.25%
Volatility(VIX) 12.08 -4.88%
ISE Sentiment 178.00 +13.38%
US Dollar 88.07 +.22%
CRB 304.18 +.15%
Futures Spot Prices
Crude Oil 54.28 unch.
Unleaded Gasoline 157.14 unch.
Natural Gas 7.10 +.78%
Heating Oil 162.56 unch.
Gold 425.90 -.05%
Base Metals 123.24 +.06%
Copper 154.10 -.39%
10-year US Treasury Yield 3.95% +.39%
Leading Sectors
Oil Service +3.43%
Energy +2.90%
Networking +1.97%
Lagging Sectors
Steel -.86%
Airlines -.96%
Papers -1.30%
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 AVP, BBY and GD.
Afternoon/Evening Headlines
Bloomberg:
- The number of Hispanics in the US is growing three times faster than the population as a whole, the US Census Bureau said.
- US House Republicans plan to combine a proposal to revamp the US private pension system with an effort to save Social Security in a bid to attract Democratic support.
- Intel raised its second-quarter sales and profitability forecasts after laptop shipments surged.
CNBC:
- PIMCO Managing Director William Gross said 3% is an “effective limit” for inflation, which is unlikely to go higher.
- AMB Property CEO Moghadam said he expects further consolidation in the industrial real estate market following ProLogis’s $3.6 billion purchase of Catellus Development.
- Crude oil rose $1.74/bbl. in NY as concerns increased over a tropical storm in the Gulf of Mexico.
Cnet News.com:
- Microsoft will begin selling a music-subscription service later this year to compete with market-leading Apple Computer’s iTunes music store.
Financial Times:
- US and European companies are increasingly adopting “near shoring” policies to avoid problems of supply and management associated with investments in Asia, citing research by Deloitte & Touche.
Handelsblatt:
- Reebok International will seek acquisition targets to broaden its product base.
Asahi:
- Toyota Motor will increase prices in the US by as much as 3% this autumn to help US automakers.
BOTTOM LINE: The Portfolio finished higher today on gains in my Internet and Semiconductor longs and Base Metal shorts. I exited a few energy-related shorts in the afternoon as they hit stop-losses and added a couple of new chemical shorts, thus leaving the Portfolio 75% net long. One of my new shorts is PPG and I am using a $67 stop-loss on this position. The tone of the market was positive today as the advance/decline finished higher, most sectors rose and volume was below average. Measures of investor anxiety were lower into the close. Overall, today’s market action was positive. It was a good day for the bulls considering the fact that the Nasdaq and breadth finished at session highs even with oil spiking. However, stocks are displaying a muted reaction to Intel’s positive comments after-hours.
No comments:
Post a Comment