Oil jumped back up another $5.00 per barrel on inventory numbers reported this morning. The continued weak environment sent financials and airlines into the dirt again. PIMCO's McCulley said he believes that the Fed is understating inflation and the Fed's Beige Book hinted that some higher costs are beginning to be passed down to consumers.
Here are the unofficial closes of major US index levels:
DJIA 12082.14 (-207.62)
S&P500 1335.56 (-22.88)
NASDAQ 2394.01 (-54.93)
10YR T-NOTE 4.07% (-0.026%)
Top 10 Analyst Calls
Anheuser-Busch Companies Inc. (NYSE: BUD) saw another big pickup in its call options activity today and then CNBC's David Faber said that InBev in Europe may be close to making an unsolicited bid for the company. Shares were up about 2.3% at $58.45 in the final minutes of the day.
Central Garden & Pet (NASDAQ: CENT) was one of the disasters of the day after it said last night that it might not be able to live up to growth expectations it stated just in May. Shares were down a sharp 38% at $4.57 in the final minutes today.
Citigroup Inc. (NYSE: C) helped lead the financials lower after the financial supermarket, which isn't looking so super at the moment, traded down under $20.00 again. In the final minutes of the day, shares were down about 5% at $19.22 on almost 90 million shares. As noted, Wall Street is capitulating here in the sector. Oppenheimer's Meredith Whitney said that Citi's dividend is at risk of being eliminated.
Martha Stewart Living OMNIMEDIA (NYSE: MSO) saw shares down almost 6% to $7.51 after the publisher and furnishings license company announced that its CEO Lyne was out and no longer at the company.
Nortel Networks Inc. (NYSE: NT) was one of the surprise sleeping giants awoken today. The company reaffirmed its guidance and shares were up more than 12% at $9.15 in today's final minutes. Maybe that boutique research call with a BUY/$23 target last week wasn't so crazy after all.
Why is gold making a new high, trading at $1,118.00 per ounce?
Chasing Value: Ten stocks for 2010 -- Part 1 
Closing Bell: A six-day rally (AIG, REGN, M, MOT, PALM, RIMM)
