Monday's US Market Wrap

by: Between the Hedges

From Between the Hedges:

Stocks Finish Modestly Lower on Growth Worries and Profit-taking

Indices
S&P 500 1,308.11 -.24%
DJIA 11,336.32 -.10%
NASDAQ 2,333.38 -.40%
Russell 2000 766.14 -.77%
Wilshire 5000 13,237.91 -.29%
S&P Barra Growth 610.86 -.25%
S&P Barra Value 694.71 -.23%
Morgan Stanley Consumer 603.85 -.08%
Morgan Stanley Cyclical 850.16 -.24%
Morgan Stanley Technology 546.23 -.42%
Transports 4,730.47 +.52%
Utilities 401.44 +.77%
Put/Call .93 +2.20%
NYSE Arms 1.15 +6.72%
Volatility(VIX) 11.75 +1.38%
ISE Sentiment 204.0 +43.66%
US Dollar 87.54 -.58%
CRB 352.55 -1.68%

Futures Spot Prices
Crude Oil 73.18 -.20%
Unleaded Gasoline 216.25 -.52%
Natural Gas 7.50 -.74%
Heating Oil 203.00 -.08%
Gold 622.90 -.14%
Base Metals 213.14 -.57%
Copper 308.10 -.96%
10-year US Treasury Yield 4.98% -.54%

Leading Sectors
Airlines +3.97%
Steel +1.71%
Coal +1.69%

Lagging Sectors
Energy -1.62%
Homebuilders -1.62%
Internet -3.19%

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 (TOA) Outperform, $29 target.

Smith Barney:
- Rated (NYSE:CRM)Buy, target $45.
- Rated (NASDAQ:ADSK)Buy, target $52.
- Upgraded (NASDAQ:ADBE) to Buy, target $45.
- Rated (RHAT) Buy, target $40.

Afternoon/Evening Headlines
Bloomberg:
- Gold and silver fell after crude oil dropped, easing concern that rising fuel prices will stoke inflation in the world’s biggest economies.
- Venezuelan President Hugo Chavez may rewrite the rules for ventures run by oil companies including Total SA and ConocoPhillips(NYSE:COP) in the Faja, a region that rivals Canada’s oil sands as the Western Hemisphere’s biggest deposit.

BOTTOM LINE: The tone of the market was negative today as the advance/decline line finished lower, sector performance was mostly negative and volume was above average. Measures of investor anxiety were mostly higher into the close. Overall, today's market performance was mildly bearish considering the fall in energy prices and long-term rates. I suspect most bulls and bears are unhappy with today's performance. I expect volume and volatility to increase over the next few days. Tomorrow's consumer confidence and existing home sales reports should lead to more bond market strength.