S&P 500 1,226.50 +.26%
DJIA 10,628.89 +.68%
NASDAQ 2,152.82 +.41%
Russell 2000 663.02 -.69%
DJ Wilshire 5000 12,214.20 +.09%
S&P Barra Growth 586.99 +.36%
S&P Barra Value 635.21 +.17%
Morgan Stanley Consumer 582.50 +.55%
Morgan Stanley Cyclical 741.30 +.41%
Morgan Stanley Technology 500.52 +.41%
Transports 3,661.90 +1.45%
Utilities 392.68 -1.06%
Put/Call .70 -10.26%
NYSE Arms .70 -1.61%
Volatility(VIX) 10.81 -.28%
ISE Sentiment 139.00 -10.32%
US Dollar 89.46 +.24%
CRB 309.11 -.78%
Futures Spot Prices
Crude Oil 58.16 +.61%
Unleaded Gasoline 169.60 +.65%
Natural Gas 7.92 +1.03%
Heating Oil 166.80 +.67%
Gold 420.40 +.05%
Base Metals 123.55 +.64%
Copper 154.75 +.03%
10-year US Treasury Yield 4.17 +.47%
Leading Sectors
Biotech +1.53%
Semis +1.26%
Computer Hardware +.75%
Lagging Sectors
Energy -2.35%
Gold & Silver -2.47%
Oil Service -2.56%
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 Underperform on TRB.
Afternoon/Evening Headlines
Bloomberg:
- US aviation regulators told lawmakers today that restrictions on mobile phone use on aircraft will remain in place even if the Federal Communications Commission lifts its ban on the devices.
- Support for suicide bombings has fallen in five mainly Muslim countries during the past two years, according to a survey carried out before Britons died last week in the first such attacks on their soil.
Financial Times:
- China is prepared to use nuclear weapons against the US if it is attacked during a confrontation over Taiwan, citing Zhu Chenghu, a military official.
- Procter & Gamble’s $57 billion takeover of Gillette may get European approval soon.
BOTTOM LINE: The Portfolio finished slightly higher today on gains in my Internet and Medical longs and Energy-related shorts. I did not trade in the afternoon, thus leaving the Portfolio 100% net long. The tone of the market was slightly negative today as the advance/decline line finished modestly lower, sector performance was mixed and volume was above average. Measures of investor anxiety were mostly higher into the close. Overall, today’s market action was neutral. Worldwide copper usage fell 4.4% in the four months ended April from a year earlier with declines in demand from Europe, the U.S. and Japan, the International Copper Study Group said today. The U.S. showed a 12% drop in demand. This is amazing considering the booming U.S. housing market. As well, Chinese demand slowed to 3.1% from 6.4% in 1Q. Copper is holding at relatively high price levels due to supply issues. I still plan to short Phelps Dodge (PD) again over the coming weeks.
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