Friday, May 26, 2017

Market Week in Review

  • S&P 500 2,415.83 +1.42%*
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The Weekly Wrap by Briefing.com.

*5-Day Change

Weekly Scoreboard*

Indices
  • S&P 500 2,415.83 +1.42%
  • DJIA 21,078.90 +1.34%
  • NASDAQ 6,207.85 +2.03%
  • Russell 2000 1,381.85 +1.03%
  • S&P 500 High Beta 36.86 +.19%
  • Goldman 50 Most Shorted 128.61 +.76%
  • Wilshire 5000 24,984.70 +1.35%
  • Russell 1000 Growth 1,195.77 +1.87%
  • Russell 1000 Value 1,128.59 +.89%
  • S&P 500 Consumer Staples 579.71 +2.13%
  • Vanda Cyclicals-Defensives 1.3196 +.15%
  • Morgan Stanley Technology 1,476.68 +2.20%
  • Transports 9,165.79 +3.26%
  • Utilities 719.81 +2.35%
  • Bloomberg European Bank/Financial Services 99.8 -.60%
  • MSCI Emerging Markets 41.64 +1.78%
  • HFRX Equity Hedge 1,188.32 -.09%
  • HFRX Equity Market Neutral 994.49 -.59%
Sentiment/Internals
  • NYSE Cumulative A/D Line 290,331 +.78%
  • Bloomberg New Highs-Lows Index 676 +755
  • Bloomberg Crude Oil % Bulls 52.2 +18.6%
  • CFTC Oil Net Speculative Position 328,952 +.06%
  • CFTC Oil Total Open Interest 2,337,124 +2.67%
  • Total Put/Call .90 +7.1%
  • OEX Put/Call .19 -85.18%
  • ISE Sentiment 128.0 +50.60%
  • NYSE Arms .93 -33.99%
  • Volatility(VIX) 9.83 -1.60%
  • S&P 500 Implied Correlation 39.58 -6.26%
  • G7 Currency Volatility (VXY) 7.63 -3.17%
  • Emerging Markets Currency Volatility (EM-VXY) 8.08 -6.16%
  • Smart Money Flow Index 19,481.62 +.66%
  • ICI Money Mkt Mutual Fund Assets $2.649 Trillion +.14%
  • ICI US Equity Weekly Net New Cash Flow -$1.689 Billion
  • AAII % Bulls 32.9 +37.8%
  • AAII % Bears 30.0 -12.4%
Futures Spot Prices
  • CRB Index 181.92 -1.75%
  • Crude Oil 49.69 -1.68%
  • Reformulated Gasoline 163.50 -.89%
  • Natural Gas 3.24 -.62%
  • Heating Oil 156.29 -1.42%
  • Gold 1,267.80 +.95%
  • Bloomberg Base Metals Index 174.21 +.86%
  • Copper 256.85 -.79%
  • US No. 1 Heavy Melt Scrap Steel 266.67 USD/Ton unch.
  • China Iron Ore Spot 57.91 USD/Ton -7.62%
  • Lumber 353.10 -2.46%
  • UBS-Bloomberg Agriculture 1,063.56 -2.28%
Economy
  • Atlanta Fed GDPNow Forecast +4.1% unch.
  • ECRI Weekly Leading Economic Index Growth Rate +5.1% +10.0 basis points
  • Philly Fed ADS Real-Time Business Conditions Index .4829 -5.72% 
  • US Economic Policy Uncertainty Index 62.18 -37.68%
  • S&P 500 Blended Forward 12 Months Mean EPS Estimate 136.85 +.26%
  • Citi US Economic Surprise Index -36.20 -2.8 points
  • Citi Eurozone Economic Surprise Index 56.0 +3.5 points
  • Citi Emerging Markets Economic Surprise Index 19.70 -8.1 points
  • Fed Fund Futures imply 0.0% chance of no change 100.0% chance of 25 basis point hike on 6/14
  • US Dollar Index 97.49 +.29%
  • MSCI Emerging Markets Currency Index 1,597.82 +.76%
  • Euro/Yen Carry Return Index 129.84 -.16%
  • Yield Curve 95.0 -2.0 basis points
  • 10-Year US Treasury Yield 2.24% unch.
  • Federal Reserve's Balance Sheet $4.432 Trillion +.09%
  • U.S. Sovereign Debt Credit Default Swap 21.75 unch.
  • Illinois Municipal Debt Credit Default Swap 393.0 -.05%
  • Western Europe Sovereign Debt Credit Default Swap Index 8.72 -5.22%
  • Asia Pacific Sovereign Debt Credit Default Swap Index 19.42 -3.89%
  • Emerging Markets Sovereign Debt CDS Index 42.57 -9.73%
  • Israel Sovereign Debt Credit Default Swap 65.23 -4.94%
  • South Korea Sovereign Debt Credit Default Swap 55.95 -.66%
  • Russia Sovereign Debt Credit Default Swap 148.45 -2.87%
  • iBoxx Offshore RMB China Corporate High Yield Index 138.59 +.17%
  • 10-Year TIPS Spread 1.83% -2.0 basis points
  • TED Spread 27.75 +1.0 basis point
  • 2-Year Swap Spread 23.5 -.75 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -35.25 -4.5 basis points
  • N. America Investment Grade Credit Default Swap Index 62.06 -3.11%
  • America Energy Sector High-Yield Credit Default Swap Index 370.0 +.64%
  • European Financial Sector Credit Default Swap Index 66.63 -4.17%
  • Emerging Markets Credit Default Swap Index 193.15 -1.91%
  • CMBS AAA Super Senior 10-Year Treasury Spread to Swaps 145.50 unch.
  • M1 Money Supply $3.519 Trillion +1.53%
  • Commercial Paper Outstanding 987.3 +.1%
  • 4-Week Moving Average of Jobless Claims 235,250 -5,550
  • Continuing Claims Unemployment Rate 1.4% unch.
  • Average 30-Year Mortgage Rate 3.95% -7.0 basis points
  • Weekly Mortgage Applications 416.20 +4.36%
  • Bloomberg Consumer Comfort 50.90 +.7 point
  • Weekly Retail Sales +1.9% +10.0 basis points
  • Nationwide Gas $2.37/gallon +.02/gallon
  • Baltic Dry Index 918.0 -3.98%
  • China (Export) Containerized Freight Index 846.27 -.24%
  • Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 27.50 -8.33%
  • Rail Freight Carloads 274,807 +1.18%
Best Performing Style
  •  Large-Cap Growth +1.9%
Worst Performing Style
  •  Small-Cap Value +.5%
Leading Sectors
  • Road & Rail +4.7%
  • Disk Drives +4.5%
  • Software +3.4%
  • Defense +3.3%
  • Airlines +3.0%
Lagging Sectors
  • Energy -2.3% 
  • Hospitals -2.5%
  • Coal -2.5%
  • Oil Tankers -2.8%
  • Oil Service -6.9%
Weekly High-Volume Stock Gainers (24)
  • PBYI, TGI, NUTR, GLYC, AERI, BBY, BG, TLYS, GES, XBKS, MCK, PSTG, TTWO, CALA, RAVN, INTU, BL, FGL, CRMT, PVH, UBSH, REXR, VSAT and CBRL
Weekly High-Volume Stock Losers (14)
  • UVV, NDSN, TIF, CWH, ZOES, AZO, HALO, AAP, THR, SIG, FL, ALXN, DY and GCO
Weekly Charts
ETFs
Stocks
*5-Day Change

Stocks Slightly Higher into Final Hour on Less European/Emerging Markets/US High-Yield Debt Angst, Oil Gain, Short-Covering, Road & Rail/Networking Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Modestly Lower
  • Sector Performance: Mixed
  • Volume: Light
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 9.80 -1.9%
  • Euro/Yen Carry Return Index 129.72 -.87%
  • Emerging Markets Currency Volatility(VXY) 8.08 -1.58%
  • S&P 500 Implied Correlation 39.66 +2.91%
  • ISE Sentiment Index 128.0 +50.59%
  • Total Put/Call .90 +7.14%
  • NYSE Arms .87 -37.87%
Credit Investor Angst:
  • North American Investment Grade CDS Index 62.61 +.21%
  • America Energy Sector High-Yield CDS Index 370.0 +2.65%
  • European Financial Sector CDS Index 66.63 +.58%
  • Western Europe Sovereign Debt CDS Index 8.68 +6.7%
  • Asia Pacific Sovereign Debt CDS Index 19.38 +.08%
  • Emerging Market CDS Index 192.10 -1.16%
  • iBoxx Offshore RMB China Corporate High Yield Index 138.59 +.05%
  • 2-Year Swap Spread 23.50 -.5 basis point
  • TED Spread 27.50 +.5 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -35.0 -1.25 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 73.10 +.03%
  • 3-Month T-Bill Yield .92% unch.
  • Yield Curve 95.0 -1.0 basis point
  • China Import Iron Ore Spot $57.91/Metric Tonne -3.87%
  • Citi US Economic Surprise Index -36.20 +1.8 point
  • Citi Eurozone Economic Surprise Index 56.0 -4.3 points
  • Citi Emerging Markets Economic Surprise Index 19.70 -.1 point
  • 10-Year TIPS Spread 1.83 +1.0 basis point
  • 93.4% chance of Fed rate hike at July 26 meeting, 95.5% chance at Sept. 20 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating -6 open in Japan 
  • China A50 Futures: Indicating -7 open in China
  • DAX Futures: Indicating -13 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my medical/tech sector longs 
  • Disclosed Trades: None
  • Market Exposure: 75% Net Long