Saturday, September 23, 2017

Today's Headlines

Bloomberg:
  • China Cities Tighten Home-Sale Rules to Tame Property Market. Several large Chinese cities including Shijiazhuang, Chongqing, Nanchang, Nanning and Guiyang are imposing restrictions on home resales as part of the nation’s campaign to cool its heated property sector. Chongqing will ban sales of new and existing residential properties in downtown areas within two years of purchase, according to a statement on the city’s housing authority website. The move seeks to curb speculative investment and boost healthy development of the property market, it said late Friday. The measure takes effect from Sept. 23.
  • New Earthquake, Magnitude 6.1, Shakes Jittery Mexico.
Wall Street Journal:
Barron's:
  • Had bullish commentary on (ONCE), (AVXS), (ORCL), (GPRO), (RGNX), (VYGR), (BOLD) and (PFE).
  • Had bearish commentary on (SIX).
Zero Hedge:

Friday, September 22, 2017

Weekly Scoreboard*

S&P 500 2,499.51 -.03%


























The Weekly Wrap by Briefing.com.
 
Indices
  • DJIA 22,331.30 +.25%
  • NASDAQ 6,422.63 -.41%
  • Russell 2000 1,450.53 +1.35%
  • S&P 500 High Beta 38.74 +1.74%
  • Goldman 50 Most Shorted 137.91 -.39%
  • Wilshire 5000 25,908.33 +.14%
  • Russell 1000 Growth 1,248.47 -.31%
  • Russell 1000 Value 1,158.61 +.42%
  • S&P 500 Consumer Staples 555.33 -2.38%
  • Vanda Cyclicals-Defensives 1.3323 +.81%
  • NYSE Technology 1,582.14 -.11%
  • Transports 9,703.84 +1.66%
  • Utilities 727.25 -2.58%
  • Bloomberg European Bank/Financial Services 100.92 +1.74%
  • MSCI Emerging Markets 45.39 +.02%
  • HFRX Equity Hedge 1,231.77 +.30%
  • HFRX Equity Market Neutral 1,007.85 -.14%
Sentiment/Internals
  • NYSE Cumulative A/D Line 302,434 +.41%
  • Bloomberg New Highs-Lows Index 371-22
  • Bloomberg Crude Oil % Bulls 47.92 -27.1%
  • CFTC Oil Net Speculative Position 374,480 -2.0%
  • CFTC Oil Total Open Interest 2,345,125 +.80%
  • Total Put/Call .94 -12.15%
  • OEX Put/Call .65 +25.0%
  • ISE Sentiment 77.0 +1.39%
  • NYSE Arms 1.15 -5.0%
  • Volatility(VIX) 9.94 -2.16%
  • S&P 500 Implied Correlation 23.62 +.72%
  • G7 Currency Volatility (VXY) 8.89 +2.07%
  • Emerging Markets Currency Volatility (EM-VXY) 7.89 +2.73%
  • Smart Money Flow Index 19,684.46 +.21%
  • ICI Money Mkt Mutual Fund Assets $2.724 Trillion -.53%
  • ICI US Equity Weekly Net New Cash Flow -$3.201 Billion
  • AAII % Bulls 40.1 -2.8%
  • AAII % Bears 27.2 +23.9%
Futures Spot Prices
  • CRB Index 188.47 -.37%
  • Crude Oil 50.49 +1.30%
  • Reformulated Gasoline 166.22 -.05%
  • Natural Gas 2.96 -2.34%
  • Heating Oil 181.21 +.82%
  • Gold 1,294.10 -1.95%
  • Bloomberg Base Metals Index 196.35 +1.13%
  • Copper 294.40 -.22%
  • US No. 1 Heavy Melt Scrap Steel 287.0 USD/Ton +1.89%
  • China Iron Ore Spot 63.56 USD/Ton -11.9%
  • Lumber 393.60 +3.76%
  • UBS-Bloomberg Agriculture 1,037.78 -.63%
Economy
  • Atlanta Fed GDPNow Forecast +2.2 -80.0 basis points
  • ECRI Weekly Leading Economic Index Growth Rate +0.0% -30.0 basis points
  • Philly Fed ADS Real-Time Business Conditions Index -.4951 +7.26% 
  • US Economic Policy Uncertainty Index 143.66 +12.85%
  • S&P 500 Blended Forward 12 Months Mean EPS Estimate 140.76 +.01%
  • Citi US Economic Surprise Index -8.8 +10.2 points
  • Citi Eurozone Economic Surprise Index 49.4 +31.0 points
  • Citi Emerging Markets Economic Surprise Index 16.50 +.6 point
  • Fed Fund Futures imply 85.5% chance of no change, 14.5% chance of 25 basis point hike on 11/1
  • US Dollar Index 92.17 +.36%
  • MSCI Emerging Markets Currency Index 1,637.57 -.53%
  • Euro/Yen Carry Return Index 139.62 +1.12%
  • Yield Curve 82.0 unch.
  • 10-Year US Treasury Yield 2.26% +6.0 basis points
  • Federal Reserve's Balance Sheet $4.418 Trillion -.29%
  • U.S. Sovereign Debt Credit Default Swap 25.87 -.17%
  • Illinois Municipal Debt Credit Default Swap 338.62 +1.16%
  • Western Europe Sovereign Debt Credit Default Swap Index 5.06 +2.33%
  • Asia Pacific Sovereign Debt Credit Default Swap Index 16.03 -12.4%
  • Emerging Markets Sovereign Debt CDS Index 40.40 -1.25%
  • Israel Sovereign Debt Credit Default Swap 55.82 +7.06%
  • South Korea Sovereign Debt Credit Default Swap 71.98 +4.96%
  • Russia Sovereign Debt Credit Default Swap 146.81 +11.09%
  • iBoxx Offshore RMB China Corporate High Yield Index 141.84 +.08%
  • 10-Year TIPS Spread 1.85% -1.0 basis point
  • TED Spread 30.50 +1.5 basis points
  • 2-Year Swap Spread 26.75 +1.5 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -30.0 -7.25 basis points
  • N. America Investment Grade Credit Default Swap Index 60.19 +6.74%
  • America Energy Sector High-Yield Credit Default Swap Index 431.0 +3.49%
  • European Financial Sector Credit Default Swap Index 59.20 +22.25%
  • Emerging Markets Credit Default Swap Index 188.48 +11.3%
  • CMBS AAA Super Senior 10-Year Treasury Spread to Swaps 152.0 +2.0 basis points
  • M1 Money Supply $3.577 Trillion +.37%
  • Commercial Paper Outstanding 1,043.90 +2.0%
  • 4-Week Moving Average of Jobless Claims 263,250 +5,500
  • Continuing Claims Unemployment Rate 1.4% unch.
  • Average 30-Year Mortgage Rate 3.83% +5.0 basis points
  • Weekly Mortgage Applications 417.50 -9.7%
  • Bloomberg Consumer Comfort 50.60 -1.3 points
  • Weekly Retail Sales +4.1% -30.0 basis points
  • Nationwide Gas $2.59/gallon -.o5/gallon
  • Baltic Dry Index 1,470.0 +6.14%
  • China (Export) Containerized Freight Index 812.38 -1.38%
  • Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 20.0 unch.
  • Rail Freight Carloads 270,003 +13.2%
Best Performing Style
  •  Small-Cap Value +1.5%
Worst Performing Style
  •  Large-Cap Growth -.4%
Leading Sectors
  • Defense +6.0%
  • Banks +3.4%
  • Energy +2.5%
  • Networking +1.4%
  • Gaming +1.4%
Lagging Sectors
  • Hospitals -2.3% 
  • Utilities -2.3%
  • Gold & Silver -2.8%
  • Steel -3.3%
  • HMOs -4.3%
Weekly High-Volume Stock Gainers (27)
  • MRTX, VERI, CCC, ALNY, SSNI, OA, VSAR, QDEL, MTOR, SELB, COHU, RGR, EGL, BOBE, STML, SCWX, ASMB, FELE, OSBC, ESTE, CACQ, SPAR, UVSP, NVDA, AIR, EBIX and ITRI
Weekly High-Volume Stock Losers (20)
  • CLXT, GTHX, ATNI, ANSS, VDSI, WOW, UBNT, SCHL, EVHC, ORCL, AYI, AGN, XLRN, UNIT, RCII, BEAT, ICPT, SMCI, SUPN and BBBY
Weekly Charts
ETFs
Stocks
*5-Day Change

Stocks Slightly Higher into Final Hour on Economic Optimism, Technical Buying, Short-Covering, Retail/Defense Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Mixed
  • Volume: Below Average
  • Market Leading Stocks: Outperforming
Equity Investor Angst:
  • Volatility(VIX) 9.95 +2.9%
  • Euro/Yen Carry Return Index 13.55 -.35%
  • Emerging Markets Currency Volatility(VXY) 7.89 +.9%
  • S&P 500 Implied Correlation 23.58 +3.19%
  • ISE Sentiment Index 73.0 +19.67%
  • Total Put/Call .90 +8.43%
  • NYSE Arms 1.22 +14.27%
Credit Investor Angst:
  • North American Investment Grade CDS Index 60.22 +1.11%
  • America Energy Sector High-Yield CDS Index 431.0 +.52%
  • European Financial Sector CDS Index 59.8 +5.14%
  • Western Europe Sovereign Debt CDS Index 5.06 +13.84%
  • Asia Pacific Sovereign Debt CDS Index 16.04 +6.19%
  • Emerging Market CDS Index 188.60 -.36%
  • iBoxx Offshore RMB China Corporate High Yield Index 141.84 -.01%
  • 2-Year Swap Spread 26.75 -.5 basis point
  • TED Spread 30.5 +.25 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -30.0 -4.5 basis points
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 74.62 +.26%
  • 3-Month T-Bill Yield 1.02% -1.0 basis point
  • Yield Curve 82.0 -2.0 basis points
  • China Import Iron Ore Spot $63.56/Metric Tonne -3.83%
  • Citi US Economic Surprise Index -8.80 +.5 point
  • Citi Eurozone Economic Surprise Index 49.40 +28.2 points
  • Citi Emerging Markets Economic Surprise Index 16.50 +.1 basis point
  • 10-Year TIPS Spread 1.85 +1.0 basis point
  • 68.8% chance of Fed rate hike at Dec. 13 meeting, 69.4% chance at Jan. 31 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating -66 open in Japan 
  • China A50 Futures: Indicating -40 open in China
  • DAX Futures: Indicating +6 open in Germany
Portfolio: 
  • Higher: On gains in my medical/tech/retail sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 100% Net Long