Friday, November 03, 2017

Stocks Rising into Final Hour on Earnings Outlooks, Oil Gain, Technical Buying, Biotech/Energy Sector Strength

Broad Equity Market Tone:
  • Advance/Decline Line: Around Even
  • Sector Performance: Mixed
  • Volume: Above Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 9.2 -7.15%
  • Euro/Yen Carry Return Index 138.16 -.36%
  • Emerging Markets Currency Volatility(VXY) 8.16 +1.62%
  • S&P 500 Implied Correlation 14.43 -6.96%
  • ISE Sentiment Index 103.0 -25.4%
  • Total Put/Call .92 +6.98%
  • NYSE Arms .95 -23.41%
Credit Investor Angst:
  • North American Investment Grade CDS Index 52.94 -.12%
  • America Energy Sector High-Yield CDS Index 367.0 -1.1%
  • European Financial Sector CDS Index 50.41 +.46%
  • Western Europe Sovereign Debt CDS Index 3.91 -2.01%
  • Asia Pacific Sovereign Debt CDS Index 14.85 -1.66%
  • Emerging Market CDS Index 177.04 +1.59%
  • iBoxx Offshore RMB China Corporate High Yield Index 144.98 +.02%
  • 2-Year Swap Spread 20.75 -1.0 basis point
  • TED Spread 22.25 unch.
  • 3-Month EUR/USD Cross-Currency Basis Swap -43.25 -.25 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 72.33 -.62%
  • 3-Month T-Bill Yield 1.17% +1.0 basis point
  • Yield Curve 72.25 -1.5 basis points
  • China Import Iron Ore Spot $59.88/Metric Tonne +.15%
  • Citi US Economic Surprise Index 40.90 +.2 point
  • Citi Eurozone Economic Surprise Index 58.70 +.1 basis point
  • Citi Emerging Markets Economic Surprise Index 18.30 -.4 point
  • 10-Year TIPS Spread 1.87 -1.0 basis point
  • 100.0% chance of Fed rate hike at Jan. 31 meeting, 100.0% chance at March 21 meeting
Overseas Futures:
  • Nikkei 225 Futures: Indicating +126 open in Japan 
  • China A50 Futures: Indicating +5 open in China
  • DAX Futures: Indicating +5 open in Germany
Portfolio: 
  • Higher: On gains in my tech/medical/biotech sector longs
  • Disclosed Trades: None
  • Market Exposure: 100% Net Long

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