Thursday's US Market Wrap

by: Between the Hedges

From Between the Hedges:

Stocks Finish Mostly Lower on Oil and Rate Worries

Indices
S&P 500 1,300.25 -.20%
DJIA 11,150.70 -.58%
NASDAQ 2,340.82 +.13%
Russell 2000 762.59 -.21%
Wilshire 5000 13,153.76 -.17%
S&P Barra Growth 612.98 -.09%
S&P Barra Value 683.96 -.31%
Morgan Stanley Consumer 610.65 -.51%
Morgan Stanley Cyclical 816.31 -.31%
Morgan Stanley Technology 550.06 +.89%
Transports 4,547.81 -.45%
Utilities 392.66 -1.11%
Put/Call .83 +2.47%
NYSE Arms .81 +23.33%
Volatility(VIX) 11.57 +5.66%
ISE Sentiment 111.00 -18.98%
US Dollar 89.36 -.94%
CRB 337.31 +1.32%

Futures Spot Prices
Crude Oil 67.03 -.18%
Unleaded Gasoline 199.57 +2.12%
Natural Gas 7.46 -.29%
Heating Oil 188.43 +1.74%
Gold 588.60 +.32%
Base Metals 179.83 +1.42%
Copper 248.90 +.18%
10-year US Treasury Yield 4.85% +1.06%

Leading Sectors
Gold & Silver +3.13%
Gaming +1.68%
Broadcasting +1.01%

Lagging Sectors
REITs -1.58%
Oil Tankers -1.92%
Airlines -2.03%

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
Deutsche Bank:
- Rated (NASDAQ:NTAP) Buy, target $42.

Afternoon/Evening Headlines
Bloomberg:
- Legg Mason(NYSE:LM) said it named Bill Miller chairman of its Legg Mason Capital Management mutual-fund unit and promoted four other executives.

Wall Street Journal:
- Colony Capital LLC offered $41 a share for Aztar Corp.(AZR), topping a bid from Pinnacle Entertainment.

Financial Times:
- Thirty-eight unsolicited takeover bids worth a total of $234 billion were made in the first quarter of 2006, citing Dealogic Holdings Plc.

BOTTOM LINE: The tone of the market was mixed today as the advance/decline line finished about even, sector performance was mixed and volume was above-average. Measures of investor anxiety were higher into the close. Overall, today's market performance was neutral. However, the Nasdaq displayed exceptional resilience. The ISE Sentiment Index finished down 19% to a below-average 111, which is a positive. Even with the recent rise in commodities, the CRB is still 14 points below January highs. This was the type of healthy consolidation I am happy to see in the major average after yesterday’s sharp rise.
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