Friday, June 23, 2017

Market Week in Review

  • S&P 500 2,438.11 +.29%*
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The Weekly Wrap by Briefing.com.

*5-Day Change

Weekly Scoreboard*

Indices
  • S&P 500 2,438.11 +.29%
  • DJIA 21,371.90 +.09%
  • NASDAQ 6,252.24 +1.86%
  • Russell 2000 1,412.32 +.46%
  • S&P 500 High Beta 36.59 -.68%
  • Goldman 50 Most Shorted 133.27 +2.27%
  • Wilshire 5000 25,226.90 +.30%
  • Russell 1000 Growth 1,209.43 +1.18%
  • Russell 1000 Value 1,136.55 -.62%
  • S&P 500 Consumer Staples 573.17 -.69%
  • Vanda Cyclicals-Defensives 1.3014 -1.33%
  • Morgan Stanley Technology 1,509.45 +3.21%
  • Transports 9,417.73 -.15%
  • Utilities 727.61 -1.24%
  • Bloomberg European Bank/Financial Services 96.60 -1.33%
  • MSCI Emerging Markets 41.39 +.56%
  • HFRX Equity Hedge 1,194.60 +.11%
  • HFRX Equity Market Neutral 993.56 +.22%
Sentiment/Internals
  • NYSE Cumulative A/D Line 291,996 -.13%
  • Bloomberg New Highs-Lows Index 82 +123
  • Bloomberg Crude Oil % Bulls 45.83 -3.52%
  • CFTC Oil Net Speculative Position 358,999 -6.14%
  • CFTC Oil Total Open Interest 2,176,740 -2.33%
  • Total Put/Call .94 -14.02%
  • OEX Put/Call 4.91 +187.13%
  • ISE Sentiment 122.0 +110.0%
  • NYSE Arms .94 -28.26%
  • Volatility(VIX) 9.95 -4.91%
  • S&P 500 Implied Correlation 34.37 -8.54%
  • G7 Currency Volatility (VXY) 7.28 +.28%
  • Emerging Markets Currency Volatility (EM-VXY) 7.40 -2.12%
  • Smart Money Flow Index 19,846.86 +.07%
  • ICI Money Mkt Mutual Fund Assets $2.618 Trillion -.61%
  • ICI US Equity Weekly Net New Cash Flow -$2.405 Billion
  • AAII % Bulls 32.7 +1.2%
  • AAII % Bears 28.9 -1.9%
Futures Spot Prices
  • CRB Index 167.74 -3.09%
  • Crude Oil 42.96 -4.0%
  • Reformulated Gasoline 143.20 -1.59%
  • Natural Gas 2.93 -3.37%
  • Heating Oil 137.26 -3.73%
  • Gold 1,256.90 +.13%
  • Bloomberg Base Metals Index 174.66 +2.49%
  • Copper 262.65 +2.26%
  • US No. 1 Heavy Melt Scrap Steel 261.67 USD/Ton -1.13%
  • China Iron Ore Spot 56.75 USD/Ton +1.79%
  • Lumber 363.80 -.41%
  • UBS-Bloomberg Agriculture 1,017.10  -3.57%
Economy
  • Atlanta Fed GDPNow Forecast +2.9 -50.0 basis points
  • ECRI Weekly Leading Economic Index Growth Rate +3.4% -80.0 basis points
  • Philly Fed ADS Real-Time Business Conditions Index .0509 -4.5% 
  • US Economic Policy Uncertainty Index 171.23 +17.68%
  • S&P 500 Blended Forward 12 Months Mean EPS Estimate 137.98 +.48%
  • Citi US Economic Surprise Index -74.60 -31.2 points
  • Citi Eurozone Economic Surprise Index 4.7 -34.4 points
  • Citi Emerging Markets Economic Surprise Index 10.90 +4.0 points
  • Fed Fund Futures imply 88.0% chance of no change 12.0% chance of 25 basis point hike on 7/26
  • US Dollar Index 97.19 -.16%
  • MSCI Emerging Markets Currency Index 1,603.23 -.08%
  • Euro/Yen Carry Return Index 129.48 +.36%
  • Yield Curve 83.0 -4.0 basis points
  • 10-Year US Treasury Yield 2.15% -6.0 basis points
  • Federal Reserve's Balance Sheet $4.435 Trillion -.03%
  • U.S. Sovereign Debt Credit Default Swap 21.82 -4.11%
  • Illinois Municipal Debt Credit Default Swap 392.0 -.06%
  • Western Europe Sovereign Debt Credit Default Swap Index 6.08 -8.5%
  • Asia Pacific Sovereign Debt Credit Default Swap Index 19.23 +11.07%
  • Emerging Markets Sovereign Debt CDS Index 52.55 +3.55%
  • Israel Sovereign Debt Credit Default Swap 66.56 +2.16%
  • South Korea Sovereign Debt Credit Default Swap 51.08 +.18%
  • Russia Sovereign Debt Credit Default Swap 170.08 +2.77%
  • iBoxx Offshore RMB China Corporate High Yield Index 139.34 +.13%
  • 10-Year TIPS Spread 1.71% +3.0 basis points
  • TED Spread 34.0 +5.75 basis points
  • 2-Year Swap Spread 20.0 -1.0 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -30.0 +1.5 basis points
  • N. America Investment Grade Credit Default Swap Index 60.51 -.84%
  • America Energy Sector High-Yield Credit Default Swap Index 489.0 +14.9%
  • European Financial Sector Credit Default Swap Index 53.25 -13.3%
  • Emerging Markets Credit Default Swap Index 198.74 +.79%
  • CMBS AAA Super Senior 10-Year Treasury Spread to Swaps 146.0 +1.0 basis point
  • M1 Money Supply $3.478 Trillion -.24%
  • Commercial Paper Outstanding 979.0 +1.1%
  • 4-Week Moving Average of Jobless Claims 244,750 +2,750
  • Continuing Claims Unemployment Rate 1.4% unch.
  • Average 30-Year Mortgage Rate 3.90% +1.0 basis point
  • Weekly Mortgage Applications 445.20 +.59%
  • Bloomberg Consumer Comfort 49.40 -.5 point
  • Weekly Retail Sales +2.5% unch.
  • Nationwide Gas $2.28/gallon -.07/gallon
  • Baltic Dry Index 855.0 +.47%
  • China (Export) Containerized Freight Index 851.26 +.68%
  • Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 25.0 unch.
  • Rail Freight Carloads 276,777 -1.01%
Best Performing Style
  •  Small-Cap Growth +1.9%
Worst Performing Style
  •  Small-Cap Value -.9%
Leading Sectors
  • Biotech +9.1%
  • Steel +4.4%
  • Social Media +4.2%
  • Gold & Silver +4.2%
  • Software +3.9%
Lagging Sectors
  • Banks -2.1% 
  • Insurance -2.2%
  • Internet -2.7%
  • Energy -2.9%
  • Oil Service -6.6%
Weekly High-Volume Stock Gainers (22)
  • CLVS, BLCM, WFM, ARNA, OTIC, ESPR, RICE, CARA, LZB, ENTA, SYNA, ORCL, RHT, CA, FND, PLYA, GBT, PTLA, AMSWA, ARA, PKI and PRXL
Weekly High-Volume Stock Losers (19)
  • NODK, PCSB, PNFP, HAIN, CMG, POST, KR, TGT, ROIC, YORW, EQT, COST, CIR, UNFI, BAH, EXXI, PVAC, SCS and SGY
Weekly Charts
ETFs
Stocks
*5-Day Change

Stocks Reversing Higher into Afternoon on Less European/Emerging Markets/US High-Yield Debt Angst, Oil Bounce, Index Rebalancing, Tech/Metals & Mining Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Below Average
  • Market Leading Stocks: Outperforming
Equity Investor Angst:
  • Volatility(VIX) 9.94 -5.15%
  • Euro/Yen Carry Return Index 130.04 +.38%
  • Emerging Markets Currency Volatility(VXY) 7.40 -1.6%
  • S&P 500 Implied Correlation 34.31 -3.16%
  • ISE Sentiment Index 135.0 +35.0%
  • Total Put/Call .92 +16.46%
  • NYSE Arms .96 +.9%
Credit Investor Angst:
  • North American Investment Grade CDS Index 60.71 -1.91%
  • America Energy Sector High-Yield CDS Index 493.0 +1.78%
  • European Financial Sector CDS Index 52.90 -3.42%
  • Western Europe Sovereign Debt CDS Index 6.08 -12.83%
  • Asia Pacific Sovereign Debt CDS Index 19.24 +.26%
  • Emerging Market CDS Index 197.97 -1.49%
  • iBoxx Offshore RMB China Corporate High Yield Index 139.34 -.07%
  • 2-Year Swap Spread 20.0 +.5 basis point
  • TED Spread 33.5 unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -30.0 -.25 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 72.75 +.33%
  • 3-Month T-Bill Yield .96% +1.0 basis point
  • Yield Curve 81.0 unch.
  • China Import Iron Ore Spot $56.75/Metric Tonne +.39%
  • Citi US Economic Surprise Index -74.60 -1.5 points
  • Citi Eurozone Economic Surprise Index 4.70 -13.8 points
  • Citi Emerging Markets Economic Surprise Index 10.9 +.3 point
  • 10-Year TIPS Spread 1.71 +1.0 basis point
  • 24.3% chance of Fed rate hike at Sept. 20 meeting, 27.5% chance at Nov. 1 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +10 open in Japan 
  • China A50 Futures: Indicating -4 open in China
  • DAX Futures: Indicating -11 open in Germany
Portfolio: 
  • Higher: On gains in my biotech/tech/retail sector longs 
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 100% Net Long