Wednesday, July 13, 2005

Stocks Finish Mildly Higher as Oil Recedes

Indices
S&P 500 1,223.29 +.09%
DJIA 10,557.39 +.41%
NASDAQ 2,144.11 +.04%
Russell 2000 667.65 -.47%
DJ Wilshire 5000 12,203.30 unch.
S&P Barra Growth 584.87 +.05%
S&P Barra Value 634.16 +.13%
Morgan Stanley Consumer 579.30 +.13%
Morgan Stanley Cyclical 738.26 +.17%
Morgan Stanley Technology 498.46 +.71%
Transports 3,609.62 +.35%
Utilities 396.87 +.13%
Put/Call .78 +1.30%
NYSE Arms .71 -14.56%
Volatility(VIX) 10.84 -1.0%
ISE Sentiment 155.00 -18.85%
US Dollar 89.35 +1.13%
CRB 311.54 -.04%

Futures Spot Prices
Crude Oil 59.56 -1.75%
Unleaded Gasoline 174.05 -1.97%
Natural Gas 8.0 +1.46%
Heating Oil 170.60 -2.60%
Gold 424.50 -.61%
Base Metals 122.76 -.78%
Copper 154.95 +.68%
10-year US Treasury Yield 4.16 +.33%

Leading Sectors
Airlines +2.42%
Computer Hardware +1.08%
Networking +.95%

Lagging Sectors
HMOs -1.01%
Oil Service -1.18%
Hospitals -2.99%

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 RAI.

Afternoon/Evening Headlines
Bloomberg:
- CNOOC’s proposed $18.5 billion purchase of US oil company Unocal is opposed by most Americans, according to a Wall Street Journal/NBC News poll.
- US Chief Justice William Rehnquist, who is fighting thyroid cancer, was admitted to the hospital last night with a fever.
- Apple Computer said third-quarter profit rose fivefold as sales of iPod digital music players surged to a record and Macintosh computer shipments reached a five-year high.
- UK Prime Minister Tony Blair urged Muslim leaders to help root out terrorists in their communities and stop those who “twist” the teachings of their own religion after attacks in London killed at least 52 people.

Xinhua News Agency:
- North Korea leader Kim Jong Il wants to denuclearize the Korean peninsula, he told visiting Chinese presidential envoy Tang Jiaxuan in Pyongyang yesterday.
BOTTOM LINE: The Portfolio finished higher today on gains in my Internet, Semiconductor and Networking longs. I did not trade in the afternoon, thus leaving the Portfolio 100% net long. The tone of the market was neutral today as the advance/decline line finished modestly lower, sector performance was mixed and volume was below average. Measures of investor anxiety were mixed into the close. Overall, today’s market action was slightly positive. The Morgan Stanley Healthcare Providers Index (RXH) was down about 3% today on HCA's (HCA) disappointing results. I would not be a buyer at current levels and expect this group to underperform through year end.

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