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From Between the Hedges:

Stocks Close Near Session Highs after Energy Prices Fell and Long-term Rates Stabilized

 


Indices
S&P 500 1,278.47 +.20%
DJIA 11,005.74 +.23%
NASDAQ 2,267.46 -.04%
Russell 2000 721.84 +.11%
Wilshire 5000 12,855.02 +.15%
S&P Barra Growth 605.43 +.33%
S&P Barra Value 669.44 +.07%
Morgan Stanley Consumer 604.62 +.42%
Morgan Stanley Cyclical 776.30 -34%
Morgan Stanley Technology 530.74 -.20%
Transports 4,420.21 -.33%
Utilities 400.26 +.24%
Put/Call .96 -5.88%
NYSE Arms .92 -.30%
Volatility(VIX) 12.32 -2.69%
ISE Sentiment 149.00 +7.19%
US Dollar 90.56 -.23%
CRB 317.87 -1.11%

Futures Spot Prices
Crude Oil 59.89 -.20%
Unleaded Gasoline 163.75 -.77%
Natural Gas 6.62 -.36%
Heating Oil 169.18 -.14%
Gold 544.70 +.04%
Base Metals 161.68 -.64%
Copper 217.60 -.05%
10-year US Treasury Yield 4.72% +.09%

Leading Sectors
Airlines +1.44%
Drugs +1.14%
Hospitals +1.13%

Lagging Sectors
Semis -1.39%
Gold & Silver -2.20%
Alternative Energy -2.64%

Evening Review
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Afternoon Recommendations
Goldman Sachs:
- Reiterated Outperform on (MYOG) and (NYSE:COF).
- Reiterated Underperform on .

Afternoon/Evening Headlines
Bloomberg:
- North Korea launched two-short range missiles, a US official confirmed today, saying the test was a reminder of the threat posed by that country.
- President Bush promised residents of New Orleans that the levees protecting the Gulf Coast city will be rebuilt better than they were before Hurricane Katrina hit.
- Intel(NASDAQ:INTC) became too relaxed about competition from Advanced Micro Devices(NASDAQ:AMD), causing the company to scramble to introduce a fresh product design to reclaim market share, a top executive said.
- Merrill Lynch(MER) is sticking with its forecast that the Fed will stop raising rates when its target reaches 4.75%.
- New York City private sector jobs grew by a revised 1.8% over the 12 months ending in January, double the long-term average rate, as financial services companies added workers.
- Apple Computer(NASDAQ:AAPL) created a monthly subscription service on iTunes for “The Daily Show with Jon Stewart

Source: Wednesday’s US Market Wrap