S&P 500 1231.21 +2.20 +0.18%
Industrials 10674.76-11.68 -0.11%
Nasdaq Comp 2187.93 +1.19 +0.05%
Russell 2000 654.64 -1.59 -0.24%
NYSE Comp 7518.98 +9.60 +0.13%
CRB Index 315.31 +2.58 +0.82%
Dollar Index 92.33 +0.24 +0.26%

NYSE volume totaled about 1.59 billion shares, and the A-D ratio was slightly negative on the NYSE, and 3 to 2 negative on the NASDAQ.

Energy prices have rebounded from a four-month low as a cold front pushed across the country. The stock market came under pressure as the latest EIA inventory report said that oil and gasoline stockpiles dropped unexpectedly.

Energies:

Crude Oil Dec 05 57.73 -0.15
Crude Oil Jan 06 58.31 -0.14
Crude Oil Feb 06 58.80 -0.13
Crude Oil Mar 06 59.05 -0.17
Gasoline Unleaded Dec 05 1.4835 +0.0005
Gasoline Unleaded Jan 06 1.5410 -0.0007
Gasoline Unleaded Feb 06 1.5840 -0.0017
Gasoline Unleaded Mar 06 1.6047 +0.0265
Heating Oil Dec 05 1.7278 -0.0014
Heating Oil Jan 06 1.7919 -0.0030
Heating Oil Feb 06 1.8224 -0.0030
Heating Oil Mar 06 1.8095 -0.0039
Natural Gas Dec 05 12.321 -0.008
Natural Gas Jan 06 13.070 -0.013
Natural Gas Feb 06 13.183 +0.040
Natural Gas Mar 06 12.943 +0.040

Our favorite natural gas stock, Chesapeake Energy (CHK) was up +4.81% to $29.40, up $1.35.

ECONOMIC NEWS:

The always suspect October PPI released yesterday said that core rate came in less than expected. Get this, the data suggested that higher energy prices have not filtered into the costs of other goods. Ha! Liar, Lair, pants on fire.

The CPI data released today and basically confirmed the PPI data from the day before. Believe it or not, the CPI also suggested that energy prices have not filtered into non-energy prices. Unbelievable!

Finally, the Labor Department reported consumer prices rose at the slowest pace in four months, while the Commerce Department said business inventories rose more than expected in September.

INTEREST RATES:

With the yield curve flattening, the 2 year to 10 year Treasury yields tightened their spread to the lowest level since 2001.

30-Year T-Bond 4.674% -0.067% 11/16/05
10-Year T-Note 4.484% -0.073% 11/16/05
5-Year T-Note 4.430% -0.072% 11/16/05
2-Year Note 4.392% -0.068% 11/16/05