Today was a good day for shorting. Homebuilders, Russell 2K.
| Index | Close | Change | Change % | |
| DOW | 13759.06 | -61.13 | -0.44% | |
| Nasdaq | 2667.95 | -3.27 | -0.12% | |
| S&P 500 | 1517.73 | -8.02 | -0.53% | |
| Russell 2000 | 805.80 | -7.31 | -0.90% | |
| Nasdaq 100 | 2057.25 | 7.77 | 0.38% | |
Commodities
| Oil | 80.66 | -.96 |
| Nat Gas | 7.205 | .215 |
| Gold | 737.6 | -1.3 |
| Issues | NYSE | Nasdaq | Amex |
| Advances | 1,274 | 1,145 | 496 |
| Declines | 2,019 | 1,853 | 696 |
| Unchanged | 102 | 119 | 92 |
| New Highs | 147 | 112 | 57 |
| New Lows | 52 | 59 | 19 |
From Briefing.com
Strong: computer storage & peripherals; home furnishings; industrial REITs; residential REITs; retail REITs; office REITs; gold; Internet retail
Weak: consumer electronics; homebuilding; general merchandise; auto parts and equipment; IT consulting; general merchandise; airlines; motorcycle mfg; thrifts & mortgage; trucking
News:
UAW strikes after GM fails to meet 11:00 ET deadline
No earnings or economic releases
Standard Pacific eliminates quarterly cash dividend; homebuilders weak
Microsoft up ahead of tonight's "Halo 3" release
BLOOMBERG'S TOP STORIES
Goldman Sees `Bottom' as Besieged Wall Street Can't Yet Concur Goldman Sachs Group Inc., the world's biggest and most profitable securities firm, has good news for its competitors: The worst credit-market shakeout since 1998 is abating.
Fed to Cut Rates Again Before January, History Shows (Update3) Government bond traders, who predicted six of the last seven recessions, say the Federal Reserve will lower interest rates again before the end of the year as the economy comes to a standstill.
Fed's Rate Cut May Give Little Relief to Homeowners (Update1) Americans may be disappointed that the Federal Reserve's interest rate cut won't translate into lower monthly mortgage payments and a revival of the housing market.
Jim Rogers Sees `Skyrocketing' Prices for Commodities (Update3) The Federal Reserve's interest rate cut was a mistake that will prompt ``skyrocketing'' agricultural prices worldwide, exacerbate a decline in the dollar and quicken inflation, investor Jim Rogers said.
BNP, UBS, Pounded by Forecast, Are Proving Prescient (Update3) The world's three biggest currency traders advised investors at the start of the year to bet against the British pound when it traded at $1.9588. Instead, it climbed to a 26-year high of $2.0654 on July 24, a gain of 5.4 percent.
Banks Reduce Backlog of Unsold Debt to $370 Billion (Update4) Banks reduced the backlog of unsold corporate debt by 2 percent in the past two weeks to $370 billion as investor demand for leveraged loans and bonds improved, Bank of America Corp. analysts said.
Wheat Farmers Signal Price Drop With Increased Sowing (Correct) Farmers are sowing the seeds for an end to the biggest rally in wheat since the Soviet Union cornered the U.S. market in the 1970s.
Ahmadinejad Says Palestinians Pay Price for Holocaust (Update1) Iranian President Mahmoud Ahmadinejad said the Palestinian people are paying for the Holocaust with the violence in the Middle East and asked why varying views of the genocide aren't allowed to be expressed.
Brown May Hurt Investors to Damp Northern Rock Anger (Update1) Prime Minister Gordon Brown's government, which insured the deposits of Northern Rock Plc customers to stop a run on the bank, seems willing to sacrifice its investors and executives to lawmakers looking for someone to blame.
Insider-Trading Case Against Wongs in Dow Jones Strains SEC The U.S. Securities and Exchange Commission's complaint in May against a Hong Kong couple for insider trading of Dow Jones & Co. stock looked like an open- and-shut case.
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