S&P 500 1,301.61 -.10%
DJIA 11,250.11 -.26%
NASDAQ 2,315.18 +.12%
Russell 2000 754.03 +.03%
Wilshire 5000 13,131.37 -.08%
S&P Barra Growth 612.96 -.22%
S&P Barra Value 685.43 +.01%
Morgan Stanley Consumer 615.12 -.09%
Morgan Stanley Cyclical 814.43 +.19%
Morgan Stanley Technology 540.06 +.08%
Transports 4,557.95 +.67%
Utilities 396.19 -.89%
Put/Call .84 +6.33%
NYSE Arms .91 +20.70%
Volatility(VIX) 11.46 +2.41%
ISE Sentiment 142.00 -17.44%
US Dollar 90.07 unch.
CRB 327.71 +.22%
Futures Spot Prices
Crude Oil 64.34 +.28%
Unleaded Gasoline 183.55 +.37%
Natural Gas 7.08 +.18%
Heating Oil 178.11 -.63%
Gold 567.20 -.04%
Base Metals 178.71 +.82%
Copper 242.70 -.12%
10-year US Treasury Yield 4.70% +.73%
Leading Sectors
Gold & Silver +2.89%
Steel +1.46%
Papers +1.0%
Lagging Sectors
Utilities -.89%
REITs -.93%
Drugs -.95%
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
- None of note
Afternoon/Evening Headlines
Bloomberg:
- Shares of Time Warner Telecom(TWTC), which provides communications services over fiber networks connecting 44 US cities, were raised to “overweight” by Morgan Stanley analyst Vance Edelson, citing increased demand.
- General Motors(GM) said better-than-expected sales of new models such as the redesigned Chevrolet Tahoe are helping stem market-share declines as the automaker tries to cut its reliance on incentives and low-profit sales to rental agencies.
- Zacarias Moussaoui testified that he and would-be shoe bomber Richard Reid planned to hijack a jetliner and fly it into the White House on the day of the Sept.11 attacks.
- Brazil’s currency weakened after President Luiz Inacio Lula da Silva’s top economic policy maker submitted his resignation amid allegations of corruption.
- Corn and soybean prices rose in Chicago on speculation the spread of bird flu will be contained and demand for grain-based poultry feed won’t decline.
- Delphi has offered UAW union members a payment of $50,000 each in exchange for a 35% pay cut.
- The Chicago Mercantile Exchange, the largest US futures market, said it plans to offer energy contracts in June after a non-compete with the NY Merc expires.
- A Senate panel approved hiring up to 14,000 more Border Patrol agents to increase border enforcement as part of an overhaul of immigration laws.
- Copper and zinc prices rose to records on speculation that metals demand, driven by worldwide economic growth, will reduce inventories and trigger supply shortfalls.
Financial Times:
- Lucent Technologies’(LU) Bell Labs research unit may be separated and put under control of a new board if the company is taken over by Alcatel SA(ALA).
BOTTOM LINE: The Portfolio finished higher today on gains in my Internet longs, Networking longs and Medical longs. I did not trade in the final hour, thus leaving the Portfolio 100% net long. The tone of the market was slightly negative today as the advance/decline line finished near even, sector performance was mixed and volume was about average. Measures of investor anxiety were higher into the close. Overall, today's market performance was neutral. However, a number of market-leading stocks traded very well throughout the day. Investors appear as though they are becoming increasingly confident in the durability of the current economic expansion. I continue to believe U.S. growth will slow to average levels later this year, which will likely have a greater negative impact on some economically sensitive stocks than most expect.
No comments:
Post a Comment