Tuesday, October 31, 2017

Stocks Higher into Final Hour on Economic Optimism, Earnings Outlooks, Oil Gain, Tech/Gaming Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Above Average
  • Market Leading Stocks: Outperforming
Equity Investor Angst:
  • Volatility(VIX) 10.2 -2.9%
  • Euro/Yen Carry Return Index 138.48 +.45%
  • Emerging Markets Currency Volatility(VXY) 8.09 -.86%
  • S&P 500 Implied Correlation 15.37 +17.3%
  • ISE Sentiment Index 130.0 +35.4%
  • Total Put/Call .82 -12.8%
  • NYSE Arms 1.42 +28.5%
Credit Investor Angst:
  • North American Investment Grade CDS Index 52.37 -1.04%
  • America Energy Sector High-Yield CDS Index 387.0 -1.39%
  • European Financial Sector CDS Index 51.18 -3.21%
  • Western Europe Sovereign Debt CDS Index 4.21 -2.55%
  • Asia Pacific Sovereign Debt CDS Index 15.63 +2.36%
  • Emerging Market CDS Index 174.33 +.12%
  • iBoxx Offshore RMB China Corporate High Yield Index 144.79 unch.
  • 2-Year Swap Spread 22.5 unch.
  • TED Spread 28.75 -4.25 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -42.0 +.25 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 72.55 -.03%
  • 3-Month T-Bill Yield 1.13% +3.0 basis points
  • Yield Curve 78.0 -1.0 basis point
  • China Import Iron Ore Spot $58.52/Metric Tonne -.39%
  • Citi US Economic Surprise Index 40.20 -.3 point
  • Citi Eurozone Economic Surprise Index 59.0 -7.4 basis points
  • Citi Emerging Markets Economic Surprise Index 23.50 +2.8 points
  • 10-Year TIPS Spread 1.88 unch.
  • 86.6% chance of Fed rate hike at Dec. 13 meeting, 87.2% chance at Jan. 31 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +14 open in Japan 
  • China A50 Futures: Indicating +34 open in China
  • DAX Futures: Indicating -7 open in Germany
Portfolio: 
  • Higher: On gains in my tech/retail/medical sector longs
  • Disclosed Trades: None
  • Market Exposure: 100% Net Long

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