S&P 500 1,218.59 -.35%
DJIA 10,539.72 -.44%
NASDAQ 2,172.07 -.28%
Russell 2000 656.23 -.76%
DJ Wilshire 5000 12,177.21 -.38%
S&P Barra Growth 583.66 -.32%
S&P Barra Value 630.69 -.36%
Morgan Stanley Consumer 585.18 -.36%
Morgan Stanley Cyclical 732.80 -.76%
Morgan Stanley Technology 511.17 -.13%
Transports 3,961.24 -.46%
Utilities 393.77 -.21%
Put/Call .86 +2.38%
NYSE Arms 1.13 +19.49%
Volatility(VIX) 13.08 -.15%
ISE Sentiment 175.00 -7.41%
US Dollar 91.40 +.12%
CRB 318.24 +.25%
Futures Spot Prices
Crude Oil 59.59 -.20%
Unleaded Gasoline 156.10 -.08%
Natural Gas 11.87 +.65%
Heating Oil 177.30 -.31%
Gold 462.00 -.06%
Base Metals 136.24 -.01%
Copper 183.65 -.08%
10-year US Treasury Yield 4.55% -1.41%
Leading Sectors
Disk Drives +.80%
Oil Service +.77%
Energy +.75%
Lagging Sectors
Papers -1.66%
Gaming -2.51%
Homebuilders -5.38%
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 ADP and COF.
- Reiterated Underperform on INFA.
Afternoon/Evening Headlines
Bloomberg:
- Pixar, the computer-animation film studio run by Steven Jobs, posted a 22% rise in profit on surging home-video sales from movies such as “The Incredibles.”
- Bank of New York agreed to pay $38 million to settle two criminal investigations, after admitting it failed to report $7 billion in suspicious transactions from Russia that were linked to money laundering.
AP:
- American Airlines faces a possible fine after a man boarded a Miami-bound flight at Newark, New Jersey’s Liberty International Airport without a ticket or boarding pass.
BOTTOM LINE: The Portfolio finished lower today on losses in my Internet longs, Homebuilding longs and Retail longs. I exited a Homebuilding long in the afternoon and added to some existing longs, thus leaving the Portfolio 100% net long. The tone of the market was negative today as the advance/decline line finished lower, most sectors fell and volume was about average. Measures of investor anxiety were mostly higher into the close. Overall, today’s market action was modestly negative given recent gains and the losses in the Homebuilding sector. Two of the main arguments for Fed rate hikes have been excessive speculation in housing and rising commodity prices. The speculative froth in many housing markets has been greatly curtailed over the last few months. As well, energy prices have dropped substantially from September highs. While these two trends may need to persist for a bit longer to get the Fed's attention, it is becoming much easier for them to justify a "pause" in the pace of rate hikes.
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