S&P 500 1,428.82 +.58%
DJIA 12,523.31 +.26%
NASDAQ 2,448.64 +.31%
Russell 2000 797.97 +.61%
Wilshire 5000 14,379.32 +.58%
Russell 1000 Growth 563.14 +.40%
Russell 1000 Value 822.25 +.71%
Morgan Stanley Consumer 705.47 +.06%
Morgan Stanley Cyclical 921.60 +.47%
Morgan Stanley Technology 564.61 +.65%
Transports 4,788.24 +.51%
Utilities 453.59 +.53%
Put/Call .92 -4.17%
NYSE Arms .95 -26.09%
Volatility(VIX) 10.96 -4.28%
ISE Sentiment 165.0 +4.43%
US Dollar 84.99 -.12%
CRB 298.30 +2.54%
Futures Spot Prices
Crude Oil 56.84 +5.24%
Reformulated Gasoline 152.0 +5.48%
Natural Gas 7.67 +10.6%
Heating Oil 163.88 +5.8%
Gold 652.70 +.57%
Base Metals 226.75 -.16%
Copper 256.25 +.81%
10-year US Treasury Yield 4.87% -.38%
Leading Sectors
Oil Service +3.21%
Steel +2.18%
HMOs +1.52%
Lagging Sectors
Gaming -.05%
Tobacco -.30%
Airlines -2.09%
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:
- Natural gas soared 12% as rampant investment fund speculation increased on colder weather despite record inventories.
- Citigroup Inc.(C) and closely held Relativity Media LLC agreed to finance 90 movies over the next five years in what may be the biggest ever film-production fund.
- The US EPA’s staff is recommending the government toughen its standards for ground-level ozone, or smog, for public health reasons.
BOTTOM LINE: The Portfolio finished about even today as gains in my Retail longs and Medical longs offset losses in my Commodity shorts. I added (IWM) and (QQQQ) hedges in the final hour, thus leaving the Portfolio 75% net long. The tone of the market was slightly positive today as the advance/decline line finished modestly higher, almost every sector rose and volume was about average. Measures of investor anxiety were mostly lower into the close. Today's overall market action was bullish. The fact that the 10-year yield finished near session lows at 4.87% is a big positive considering the jump in energy prices and stronger-than-expected consumer confidence reading. Volatility will likely rise tomorrow. I would expect a strong stock market rally if the yield remains stable or falls on tomorrow’s economic reports and Fed statement. A sharp rise in the yield will likely result in initial stock market weakness. However, I continue to believe it would take a move above 5.25%, which I do not expect, in the 10-year yield before the Fed would even contemplate a hike.
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