1:20 pm : The third quarter got off to a good start as the major indices spent the entirety of today's abbreviated session in positive territory, aided by bargain hunting activity and a batch of economic data that supported the view that the Fed is likely to take a rate hike breather at�the August FOMC meeting.
Specifically, the ISM Index slipped to 53.8 in June (consensus 55.0) from 54.4 in May while construction spending declined 0.4% in May (consensus +0.2%) versus a 0.2% decline in April.�While a bit disappointing in their own right relative to expectations, the
Chill Out "Healthy" and "potato salad" can go hand in hand.
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General Health Tip
Healthier Fast Food. Eating healthy doesn't mean you can never eat fast food again. The key is understanding what you're ordering. Grilled chicken sandwiches and salads with low-fat dressing are good choices to keep calories in check.
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NATALEE'S UNCLE SAYS 'RE-ARREST DEEPAK!'
Natalee Holloway's uncle is demanding that suspect Deepak Kalpoe be re-arrested in the 10-month-old mystery of the pretty blonde honor student who disappeared in Aruba. Deepak, his brother Satish and Joran van der Sloot were with the Alabama teen, pictured center, when she was last seen leaving a bar on the island in the early hours of May 30. Her uncle Paul Reynolds told The National Enquirer that he believes Deepak, 21, should be the chief suspect instead of van der Sloot, 18. Reynolds also... •STAR JONES CHEATS DEATH AS SHE UNDERGOES PLASTIC SURGERY •A WILD NIGHT OUT FOR JESSE & HIS PARTY PAL LINDSAY
Star Magazine
KATIE HOLMES: FEARING FOR HER TOMKITTEN
Katie Holmes was already worried about the upcoming birth of her baby. According to the tenets of 43-year-old fiancé Tom Cruise's religion, Scientology, she'll have to be silent (not even a moan!) during the delivery, lest the trauma be imprinted in her baby's brain. Plus, a source says, "Only Tom and a few Scientology supporters will be in the room — not Katie's mother!" And Scientology advocates separating the baby from its mother for at least the first 24 hours after birth. Now... •IT'S OVER! KRISTIN CHEATS ON NICK WITH HER EX! •ANGELINA PILOTING HER PLANE AT 7 1/2 MONTHS: IS SHE CRAZY?
NASA poised to launch shuttle The top of the external fuel tank (top C) under the space shuttle Discovery is seen sitting on the launch pad at the Kennedy Space Center in Cape Canaveral, Florida July 3, 2006. (Rick Wilking/Reuters)
10:36 am PT Market Internals : The Dow increased 0.70% closing at 11228, the Nasdaq was up 0.84 % to finish at 2190, and the S&P was up 0.79% to finish at 1280. Leading sectors included: gold +4.9%, agricultural products +4.2%, diversified metals and mining +3.3%, industrial REITS +2.6%, aluminum +2.3%. Lagging sectors included: auto manu -2.1%, casinos and gaming -1.4%, home furnishings -1.0%, apparel and accessories -1.0%, consumer electronics -0.99. Today's movement came from higher advance/decline ratios (NYSE 2348/836; Nasdaq 1735/1172, and with new highs outpacing new lows (NYSE 111/53, Nasdaq 91/38).
10:03 am PT Conferences and Shareholder/Analyst Meetings of Interest : Markets are closed�on Tuesday�in observance of Independence Day. �Events of interest for�Wednesday, July 5, include: ARO June Sales Release;�HOTT June 2006 Sales Release;�MW June Sales Release; PZZA June Sales Release; SDX Q3 2005/2006 Sodexho Alliance S.A. Sales Release.
9:54 am PT Bond Watch: Bonds Looking for Light (BONDX) : Treasuries are making another attempt at pulling back up to unchanged as the session inches toward its early close. The 10-yr yield is at 5.151% just shy of its session low of 5.149%. The market looks to wring some excitement out of an otherwise inactive day with this late rally attempt. It�appears destined to stall out, however,�with little incentive beyond a flight to quality to tempt bidders to jump in before tomorrow's holiday. The buck is getting bumped around in tight ranges with technical levels providing the thrust as currency traders amuse themselves with going after stops & weak positions. The dollar index is pretty much hanging out where it began the session at 85.22.
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