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Today's Headlines
at 2006-02-06 23:45:56
Bloomberg:
- Google(GOOG) is releasing a custom toolbar for Web browsers as part of efforts to attract more visitors to its sites.
- People should drink less alcohol because it contributes to several types of cancer, according to a review published in the medical journal Lancet Oncology today.
- Saudi Prince Alwaleed bin Talal and Colony Capital LLC agreed to buy Fairmont Hotels & Resorts for $3.24 billion, adding 87 luxury hotels to Colony’s Raffles chain.
- GM(GM) bonds and shares rose as a Citigroup(C) unit joined negotiations to buy a majority stake in the automaker’s auto-loan and mortgage business.
Wall Street Journal:
- Time Warner(TWX) will probably announce today that it’s teaming up with Bertelsmann AG to start an online service that will sell films and television shows in Germany.
- US Congress has boosted foreign aid to help fight diseases to $4 bill
Stocks Mixed Mid-day Ahead of Fed Meeting
at 2006-02-06 23:45:56
BOTTOM LINE: The Portfolio is higher into the final hour on gains in my Semi longs, Medical Information Systems longs and Computer longs. I have not traded today, thus leaving the Portfolio 100% net long. The tone of the market is slightly negative as the advance/decline line is modestly lower, most sectors are rising and volume is around average. Measures of investor anxiety are mostly lower. The energy sector saw the most insider selling of any group in the S&P 500 last week. Insider sales totaled $144,191,838 while buys totaled $24,776. This is the largest weekly net insider selling for energy this cycle. I expect US stocks to trade mixed into the close from current levels as higher energy prices and apprehension ahead of the Fed meeting offsets positive economic data and stable long-term rates.
Stocks Close Mixed as Rising Energy Prices Offset Positive Economic Data Ahead of Fed Meeting
at 2006-02-06 23:45:56
Indices
S&P 500 1,285.20 +.12%
DJIA 10,899.92 -.07%
NASDAQ 2,306.78 +.11%
Russell 2000 730.87 -.18%
S&P Barra Growth 612.77 +.15%
S&P Barra Value 668.26 +.08%
Morgan Stanley Consumer 597.19 -.30%
Morgan Stanley Cyclical 798.87 +.02%
Morgan Stanley Technology 544.38 +.28%
Transports 4,354.49 +1.04%
Utilities 413.71 -.57%
Put/Call .65 -16.67%
NYSE Arms .78 -14.00%
Volatility(VIX) 12.39 +3.51%
ISE Sentiment 238.00 +20.20%
US Dollar 89.43 +.12%
CRB 350.06 +.89%
Futures Spot Prices
Crude Oil 68.54 +.28%
Unleaded Gasoline 177.49 +.01%
Natural Gas 9.38 -.10%
Heating Oil 183.38 +1.49%
Gold 568.10 +.41%
Base Metals 169.61 +.45%
Copper 222.80 -.07%
10-year US Treasury Yield 4.53% +.49%
Leading Sectors
Oil Service +2.93%
Ene
Tuesday Watch
at 2006-02-06 23:45:56
Late-Night Headlines
Bloomberg:
- International donors are meeting in London today to agree to a five-year plan to develop Afghanistan’s security, government and rule of law, cementing its moves toward democracy since the Taliban regime was ousted in 2001.
- Billionaire investor Carl Icahn recruited former Viacom(VIA) CEO Frank Biondi to lead a fight for control of Time Warner(TWX).
- Merck(MRK) won a lawsuit over its Vioxx painkiller, after a state judge in New Jersey said a Texas man failed to prove the drug caused his stomach pain and internal bleeding.
- The US, European Union, United Nations and Russia put Hamas on notice that once it forms a new Palestinian government there will be financial consequences unless the Islamic movement abandons violence, accepts Israel’s existence and abides by existing peace agreements.
- US Supreme
Links of Interest
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