Weekly Scoreboard*

S&P 500 5,969.4 -.4%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weekly Market Wrap by Edward Jones.

Indices

• DJIA 42,135.9 -1.5%

• NASDAQ 19,405.0 -.7%

• Russell 2000 2,098.1 -1.2%

• NYSE FANG+ 14,058.2 -.8%

• Goldman 50 Most Shorted 191.6 +.4%

• Wilshire 5000 59,019.2 -.7%

• Russell 1000 Growth 4,076.1 -.5%

• Russell 1000 Value 1,862.0 -.5%

• S&P 500 Consumer Staples 892.0 -1.2%

• Bloomberg Cyclicals/Defensives Index(Ex Telecom) 241.0 -.1%
  

• NYSE Technology 5,885.7 +.3%

• Transports 14,658.7 -1.6%

• Utilities 1,038.8 +.5%

• Bloomberg European Bank/Financial Services 141.59 -3.1%
  

• MSCI Emerging Markets 47.1 +.4%

• Credit Suisse AllHedge Long/Short Equity Index 220.2 +1.1%

• Credit Suisse AllHedge Equity Market Neutral Index 125.0 +.5%

Sentiment/Internals

• NYSE Cumulative A/D Line 554,528 +.96%
• Nasdaq/NYSE Volume Ratio 12.9 -3.4%

• Bloomberg New Highs-Lows Index 616 -24

• Crude Oil Commercial Bullish % Net Position -18.6 -1.3%

• CFTC Oil Net Speculative Position 167,957 +1.4%

• CFTC Oil Total Open Interest 2,010,3132 +3.4%

• Total Put/Call .85 -1.2%

• OEX Put/Call 1.01 +9.5%

• ISE Sentiment 139.0 -11.0

• NYSE Arms .54 -19.7%
  
• Bloomberg Global Risk-On/Risk-Off Index 66.6 -6.1%
• Bloomberg US Financial Conditions Index .40 +6.0 basis points
• Bloomberg European Financial Conditions Index 1.19 -25.0 basis points 
  

• Volatility(VIX) 21.1 +27.9%
• NASDAQ Intraday % Swing 1.15 +74.3%

• CBOE S&P 500 3M Implied Correlation Index 23.7 +18.5%

• G7 Currency Volatility (VXY) 8.65 -.5%
  

• Emerging Markets Currency Volatility (EM-VXY) 8.0 -1.6%

• Smart Money Flow Index 22,960.4 +.02%
• NAAIM Exposure Index  82.7 +1.1

• ICI Money Mkt Mutual Fund Assets $7.016 Trillion unch.

• ICI Domestic Equity Long-Term Mutual Fund/ETFs Weekly Flows -$12.965 Million

• AAII % Bulls 36.7 +12.2%

• AAII % Bears 33.6 -18.8%
• CNN Fear & Greed Index 62.0 (GREED) -1.0

Futures Spot Prices

• CRB Index 309.9 +1.4%

• Crude Oil 73.60/bbl. +13.2%

• Reformulated Gasoline 224.4 +7.5%

• Natural Gas 3.60 -4.9%
• Dutch TTF Nat Gas(European benchmark) 37.9 euros/megawatt-hour +3.8%
  

• Heating Oil 239.0 +11.1% 
• Newcastle Coal 110.0 (1,000/metric ton) -1.8%

• Gold 3,437.6 +3.8%
• Silver 36.3 +.8%
  

• S&P GSCI Industrial Metals Index 454.1 +.8%

• Copper 479.2 -.8%

• US No. 1 Heavy Melt Scrap Steel 336.0 USD/Metric Tonne -.6%

• China Iron Ore Spot 94.1 USD/Metric Tonne -.6%
• China Battery Grade Lithium Carbonate 8,650.0 USD/metric tonne unch.

• CME Lumber  627.0 +3.8%

• UBS-Bloomberg Agriculture 1,428.9 -.6%
• US Gulf NOLA Potash Spot 327.5 USD/Short Ton unch.

Economy

• Atlanta Fed GDPNow Q2 Forecast +3.8% unch.

• US Recession Within 6 Months Probability(3M/18M Forward Yld Curve Spread) 40.7 -.4 percentage point

• NY Fed Real-Time Weekly Economic Index 1.88 +6.8%

• US Economic Policy Uncertainty Index 672.3 +79.9%
• Bloomberg Global Trade Policy Uncertainty Index 5.1 -13.3%
  
• DOGE Total Taxpayer Dollars Saved $180.0 Billion($1,118.01 Savings Per Taxpayer) unch.
• S&P 500 Current Quarter EPS Growth Rate YoY(499 of 500 reporting) +12.7% unch.

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 277.79 +.66:  Growth Rate +9.3% +.4 percentage point, P/E 21.8 +.5
• S&P 500 Current Year Estimated Profit Margin 13.21% -3.0 basis points
• NYSE FANG+ Current Quarter EPS Growth Rate YoY(10 of 10 reporting) +33.0% unch.
• NYSE FANG+ Blended Forward 12 Months Mean EPS Estimate 431.52 +2.30: Growth Rate +15.6% +.7 percentage point, P/E 33.0 +.2

• Citi US Economic Surprise Index -8.4 -2.5 points

• Citi Eurozone Economic Surprise Index 26.4 +.1 point

• Citi Emerging Markets Economic Surprise Index 33.5 -.9 point

• Fed Fund Futures imply 0.0%(-2.6 percentage points) chance of -25.0 basis point cut to 4.0-4.25%, 99.7%(+2.3 percentage points) chance of no change, 0.3%(+.3 percentage point) chance of +25.0 basis point hike to 4.5-4.75% on 6/18

• US Dollar Index 98.2 -1.0%

• MSCI Emerging Markets Currency Index 1,839.3 +.41%
  

• Bitcoin/USD 105,363.5 -1.1%

• Euro/Yen Carry Return Index 187.0 +.7%
• Swiss Franc/Offshore Chinese Renminbi Cross 8.86 +1.4%

• Yield Curve(2s/10s) 46.25 +.5 basis point
  

• 10-Year US Treasury Yield 4.42% -7.0 basis points

• Federal Reserve's Balance Sheet $6.630 Trillion +.07%
• Federal Reserve's Discount Window Usage $3.067 Billion +15.5%

• U.S. Sovereign Debt Credit Default Swap 47.4 -3.6%
  

• Illinois Municipal Debt Credit Default Swap 211.30 -.01%
  

• Italian/German 10Y Yld Spread 95.0 +2.0 basis points
• UK Sovereign Debt Credit Default Swap 17.6 -2.6%

• China Sovereign Debt Credit Default Swap 46.8 -3.9%
  

• Brazil Sovereign Debt Credit Default Swap 153.2 -3.5%
  

• Israel Sovereign Debt Credit Default Swap 122.8 +27.1%

• South Korea Sovereign Debt Credit Default Swap 27.2 -2.4%

• China Corp. High-Yield Bond USD ETF(KHYB) 23.9 +.6%
• China High-Yield Real Estate Total Return Index 120.38 +.8%
  

• Atlanta Fed Low Skill Wage Growth Tracker YoY +3.9% +10.0 basis points
• Zillow US All Homes Rent Index YoY +3.3% unch.
• US Urban Consumers Food CPI YoY +2.9% +20.0 basis points
• CPI Core Services Ex-Shelter YoY +3.1% +10.0 basis points
• Cleveland Fed Inflation Nowcast Core PCE YoY +2.58% -7.0 basis points: CPI YoY +2.61% +21.0 basis points 
  
• 1-Year TIPS Spread 2.61 -15.0 basis points
• 10-Year TIPS Spread 2.30 -2.0 basis points

• Treasury Repo 3M T-Bill Spread 8.0 basis points +1.0 basis point 
  
• 2-Year SOFR Swap Spread -23.0 -.5 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -2.75 -.75 basis point

• N. America Investment Grade Credit Default Swap Index 55.91 +3.5%
  

• America Energy Sector High-Yield Credit Default Swap Index 200.0 -11.0% 
• Bloomberg TRACE # Distressed Bonds Traded 221.0 -14.0
  

• European Financial Sector Credit Default Swap Index 62.1 +3.7%
• Deutsche Bank Subordinated 5Y Credit Default Swap 142.6 +1.0%

• Emerging Markets Credit Default Swap Index 167.7 +1.8%
  

• MBS 5/10 Treasury Spread 149.0 -3.0 basis points
• Bloomberg CMBS Investment Grade Bbb Average OAS 604.0 -8.0 basis points
• Avg. Auto ABS OAS .57 unch.

• M2 Money Supply YoY % Change +4.4% unch.

• Commercial Paper Outstanding $1,470.7B +.1%

• 4-Week Moving Average of Jobless Claims 240,250 +2.1%
  

• Continuing Claims Unemployment Rate 1.3% +10.0 basis points
• Kastle Back-to-Work Barometer(entries in secured buildings) 54.3 +6.4%
  

• Average 30-Year Fixed Home Mortgage Rate 6.88% -4.0 basis points

• Weekly Mortgage Applications 254,600 +12.5%

• Weekly Retail Sales +4.7% -.8 percentage point
• OpenTable US Seated Diners % Change YoY +11.0% +4.0 percentage points
• Box Office Weekly Gross $398.6M +175.1%

• Nationwide Gas $3.13/gallon -.01/gallon

• Baltic Dry Index 1,904.0 +16.6%
• Drewry World Container Freight Index $3,543.2/40 ft Box +.5%
  

• China (Export) Containerized Freight Index 1,243.0 +7.6%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 27.5 unch.
• Truckstop.com Market Demand Index 71.4 +17.1%

• Rail Freight Carloads 258,506 +7.6%
• TSA Total Traveler Throughput 2,887,807 +24.0%
  

Best Performing Style

• Large-Cap Value -1.2%
  

Worst Performing Style

• Small-Cap Growth -2.0%

Leading Sectors

• Oil Service +7.1%

• Energy +6.7%
• Alt Energy +4.1%

• Shipping +3.6%
  

• Gold & Silver +3.5%
  

Lagging Sectors

• Regional Banks -2.9%
  

• Insurance -3.3%
  

• Retail -3.3%

• Education -5.2%
  

• Airlines -8.2%
  

Weekly High-Volume Stock Gainers (40)

• CCCMU, URGN, ELVN, VSAT, PHAT, RH, DAR, METC, ORCL, ASTS, BG, CF, CLMT, FRO, MEOH, LPG, WHR, CIVI, TIC, ADM, WDS, NRDS, HAL, TEN, EQNR, CNR, APA, SU, MOS, NOC, MYE, LMT, NTR, AU, LEU, RTX, EOG, OXY, MRCY, MYE and MUR

Weekly High-Volume Stock Losers (10)

• GTLB, CUK, KEP, MA, V, SLP, ADBE, PRO, DAVE and SBET

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Falling Substantially into Afternoon on Israel/Iran War, Long-Term Rate Rise, Oil Surge, Transport/Homebuilding Sector Weakness

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 37.06 -.21% 
• US 10-Year T-Note Yield 4.44% +8.0 basis points
• 3-Month T-Bill Yield 4.36% unch.

• China Iron Ore Spot 94.1 USD/Metric Tonne -.06%
• Dutch TTF Nat Gas(European benchmark) 37.9 euros/megawatt-hour +4.8%

• Citi US Economic Surprise Index -8.4 +5.0 points

• Citi Eurozone Economic Surprise Index 26.4 -.9 point

• Citi Emerging Markets Economic Surprise Index 33.5 -.5 point
• S&P 500 Current Quarter EPS Growth Rate YoY(499 of 500 reporting) +12.7% unch.
• S&P 500 Blended Forward 12 Months Mean EPS Estimate 277.79 +.09:  Growth Rate +9.3% unch., P/E 21.7 unch.
• S&P 500 Current Year Estimated Profit Margin 13.21% unch.
• NYSE FANG+ Current Quarter EPS Growth Rate YoY(10 of 10 reporting) +33.0% unch.
• NYSE FANG+ Blended Forward 12 Months Mean EPS Estimate 431.52 +.23: Growth Rate +15.6% +.1 percentage point, P/E 32.9 -.1
• Bloomberg US Financial Conditions Index .40 -4.0 basis points
• Bloomberg Euro-Zone Financial Conditions Index 1.19 -24.0 basis points
• Bloomberg Global Trade Policy Uncertainty Index 5.1 +.4
• US Yield Curve 46.5 basis points (2s/10s) +1.25 basis points
• US Atlanta Fed GDPNow Q2 Forecast +3.8% unch.
• US Recession Within 6 Months Probability(3M/18M Forward Yld Curve Spread) 40.7% -.4 percentage point

• Cleveland Fed Inflation Nowcast Core PCE YoY +2.58% unch.: CPI YoY +2.61% unch.
• 1-Year TIPS Spread 2.61 +8.0 basis points
• 10-Year TIPS Spread 2.30 +3.0 basis points
• Highest target rate probability for July 30th FOMC meeting:  78.8% (+3.2 percentage points) chance of 4.25%-4.5%. Highest target rate probability for Sept. 17th meeting: 55.6%(-3.8 percentage points) chance of 4.0%-4.25%. (current target rate is 4.25-4.5%)
  

Overseas Futures:

• Nikkei 225 Futures: Indicating +331 open in Japan 
• China A50 Futures: Indicating -88 open in China

• DAX Futures: Indicating -21 open in Germany

Portfolio:

• Slightly Lower: On losses in my tech/consumer discretionary/industrial/financial sector longs
• Disclosed Trades: Added to my (IWM)/(QQQ) hedges and to my emerging market shorts
• Market Exposure: Moved to 25% Net Long

Monday's Earnings/Economic Releases of Note; Market Movers

Earnings of Note 
Company/Estimate 

Before the Open:

• None of note

After the Close: 

• (LEN)/1.94

Economic Releases

8:30 am EST

• Empire Manufacturing for June is estimated to rise to -6.0 versus -9.2 in May. 

Upcoming Splits

• None of note

Other Potential Market Movers

• The 20Y T-Bond auction, OPEC monthly reporrt, (HUM) investor meeting, JMP Medical Devices/Healthcare Services Forum, Cowen Corporate Access Day and the Wolfe Research Materials of the Future Conference could also impact global trading on Monday.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

Friday Watch

Around X:

• @Business

• BREAKING: Israel launched airstrikes on Iran, in a major escalation in the standoff over Tehran’s atomic program that risks sparking a new war in the Middle East.
• Israel-Iran Live News: Israel Launches Strikes on Iran, Braces for Retaliation.
• Chinese government officials are going at great lengths to protect jobs even as worsening profitability across companies has reached the highest level in over two decades. 
• Oil futures surged after reports of successive explosions in Tehran.
• Gold rose a third day on reports that Israel struck targets in Iran.
• NRG Energy is working on deals to power US data centers “all over the country” and will reveal details with second-quarter results, according to the top executive of the independent generator.
• US regulators approved Moderna’s vaccine to prevent a common respiratory illness for more adults, a potential easing of the Trump administration’s opposition to mRNA technology.
• Apple has set an internal release target of spring 2026 for its delayed upgrade of Siri, marking a key step in its artificial intelligence turnaround effort.
• Adobe gave a strong sales outlook for the current quarter, quieting investor anxieties that it is falling behind in a competition with AI-focused upstart.
• Here's what you need to know to start your day.
• Get up to speed on what's moving global markets.

• @ZeroHedge 

• Blasts heard in Natanz city, home to key nuclear site: Iranian state TV.
• #BREAKING Iranian missiles are heading for Israel.
• Breaking: Head of IRGC eliminated. 
• Prime Minister Netanyahu: "Moments ago, Israel launched Operation Rising Lion, a targeted military operation to roll back the Iranian threat to Israel's very survival. This operation will continue for as many days as it takes to remove this threat." (video)
• *TRUMP MUST PULL BACK ON USING TROOPS IN LA PROTESTS, JUDGE SAYS. How SCOTUS rules on this will have huge consequences.
• Targeted assassinations. NETANYAHU: WE TARGETED IRAN'S LEADING NUCLEAR SCIENTISTS WORKING ON THE IRANIAN BOMB, WE ALSO STRUCK THE HEART OF IRAN'S BALLISTIC MISSILE PROGRAMME.
• Smartmatic Accused Of Deleting Evidence In $2.7B Fox News Defamation Case: Court Docs.
• Drunk-looking Padilla is clearing advancing on Noem even after being ordered to back away. He has no defense. SLO-motion reroll the video tape.
• House Approves Bill To Codify $9.4 Billion In DOGE Cuts To Foreign Aid, Public Media. 
• Disgusting: Lockheed Martin keeps a spreadsheet of employees by race, then instructs managers precisely how many whites they must eliminate from the bonus list, even if those employees performed better than their peers. And they wrote it all down, even though it is illegal.
• The Case For Saying I'm Sorry. 
• Stocks Close At Session Highs But Retail Euphoria Boils Over As Short-Squeeze Frenzy Ends. 

• @TheTranscript

• $RH CEO dusts off a Buffett quote about economic storms to explain why they loaded up on debt to buy back stock:
• RH with an earnings beat, a revenue miss. CEO: "Despite the speculative & uncertain outcome related to tariffs and the macroeconomic environment, we are maintaining our current guidance for FY 25, assuming the existing tariffs remain unchanged." $RH: +15% AH.
• $ADBE CFO: "We are on pace to surpass $250 million in AI-first direct ARR book of business exiting the year."
• Adobe CFO: "As a result of us driving strong performance in the first half of the year, we are pleased to raise Adobe’s FY25 total revenue and EPS targets" $ADBE: +1% AH.

• @spectatorindex

• BREAKING: Axios reports that the US has told Israel it will not participate in an Israeli strike on Iran.

• @ImMeme0

• BREAKING: Six Republicans voted NO on the DOGE rescission cuts—and also NO on cutting NPR and PBS! - Mark Amodei - Nevada - Don Bacon - Nebraska - Brian Fitzpatrick - Pennsylvania - Nick LaLota - New York - Nicole Malliotakis - New York - Mike Turner - Ohio. You know what to do!!

• @Worldsource24

• BREAKING: North Korea’s Kim warns U.S. provocation ‘dangerous,’ announces DPRK battleships will soon enter Pacific.

• @ThomasSowell

• A map of where China owns farmland near US military bases. 

Night Trading 

• Asian equity indices are -1.25% to -.25% on average. 
• Asia Ex-Japan Investment Grade CDS Index 76.0 +3.75 basis points. 
• China Sovereign CDS 48.0 +3.25 basis point.
• China Iron Ore Spot 93.9 USD/Metric Tonne -.7%.
• Swiss Franc/Offshore Chinese Renminbi Cross 8.90 +.5%.
• Bloomberg Emerging Markets Currency Index 37.03 -.3%.
• Bloomberg Global Risk-On/Risk Off Index 68.8.1 -.7%.
• US 10-Year Yield 4.34% -2.0 basis points.
• Volatility Index(VIX) futures 22.2 +9.2%.
• Euro Stoxx 50 futures -1.7%. 
• S&P 500 futures -1.8%. 
• NASDAQ 100 futures -1.9%.

Morning Preview Links

BOTTOM LINE: Asian indices are modestly lower, weighed down by consumer discretionary and technology shares in the region. I expect US stocks to open lower and to maintain losses into the afternoon.  The Portfolio is 50% net long heading into the day.

Stocks Reversing Higher into Final Hour on US-Global Trade Deal Hopes, Plunging Long-Term Rates, Earnings Outlook Optimism, Tech/Pharma Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Around Even
  

• Sector Performance: Most Sectors Rising

• Volume: Around Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 17.6 +1.9%
• Nasdaq Intraday % Swing .70 -4.1%
• Bloomberg Global Risk On/Risk Off Index 70.1 -1.9% 
• Swiss Franc/Offshore Chinese Renminbi Cross 8.84 +.77%

• Euro/Yen Carry Return Index 186.98 +.06%

• Emerging Markets Currency Volatility(VXY) 8.04 +2.7%

• CBOE S&P 500 Implied Correlation Index 19.4 -.6% 

• ISE Sentiment Index 149.0 -6.0

• Total Put/Call .82 +5.1%

• NYSE Arms 1.43 +26.6%
• NYSE Non-Block Money Flow -$170.7M 
  

Credit Investor Angst:

• North American Investment Grade CDS Index 53.5 +.6%
  

• US Energy High-Yield OAS 380.2 +2.1%
• Bloomberg TRACE # Distressed Bonds Traded 210.0 unch.

• European Financial Sector CDS Index 60.2 +1.5%
  
• Deutsche Bank Subordinated 5Y Credit Default Swap 138.0 +.9%
  

• Italian/German 10Y Yld Spread 93.0 basis points +2.0 basis points

• Asia Ex-Japan Investment Grade CDS Index 73.0 +2.6%
  

• Emerging Market CDS Index 161.7 +1.6%
• Israel Sovereign CDS 110.7 +14.9%
  

• China Corp. High-Yield Bond USD ETF(KHYB) 23.89 +.08%

• 2-Year SOFR Swap Spread -22.25 basis points unch.

• 3M T-Bill Treasury Repo Spread 9.75 basis point +1.25 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -2.0 unch.
• MBS  5/10 Treasury Spread 149.0 unch.
• Bloomberg CMBS Investment Grade Bbb Average OAS 604.0 -1.0 basis point
• Avg. Auto ABS OAS 57.0 +1.0

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 37.13 -.08% 
• US 10-Year T-Note Yield 4.36% -7.0 basis points
• 3-Month T-Bill Yield 4.36% +1.0 basis point

• China Iron Ore Spot 94.1 USD/Metric Tonne -.5%
• Dutch TTF Nat Gas(European benchmark) 36.2 euros/megawatt-hour +.7%

• Citi US Economic Surprise Index -13.4 -1.9 points

• Citi Eurozone Economic Surprise Index 27.3 -.1 point

• Citi Emerging Markets Economic Surprise Index 34.0 +.2 point
• S&P 500 Current Quarter EPS Growth Rate YoY(499 of 500 reporting) +12.7% unch.
• S&P 500 Blended Forward 12 Months Mean EPS Estimate 277.70 +.14:  Growth Rate +9.3% +.1 percentage point, P/E 21.7 -.1
• S&P 500 Current Year Estimated Profit Margin 13.21% -2.0 basis points
• NYSE FANG+ Current Quarter EPS Growth Rate YoY(10 of 10 reporting) +33.0% unch.
• NYSE FANG+ Blended Forward 12 Months Mean EPS Estimate 431.29 +.25: Growth Rate +15.5% +.1 percentage point, P/E 33.0 -.1
• Bloomberg US Financial Conditions Index .44 -4.0 basis points
• Bloomberg Euro-Zone Financial Conditions Index 1.43 +4.0 basis points
• Bloomberg Global Trade Policy Uncertainty Index 4.7 -.4
• US Yield Curve 45.25 basis points (2s/10s) -1.5 basis points
• US Atlanta Fed GDPNow Q2 Forecast +3.8% unch.
• US Recession Within 6 Months Probability(3M/18M Forward Yld Curve Spread) 41.1% +4.1 percentage points

• Cleveland Fed Inflation Nowcast Core PCE YoY +2.58% unch.: CPI YoY +2.61% unch.
• 1-Year TIPS Spread 2.53 -9.0 basis points
• 10-Year TIPS Spread 2.27 -2.0 basis points
• Highest target rate probability for July 30th FOMC meeting:  76.9% (-4.5 percentage points) chance of 4.25%-4.5%. Highest target rate probability for Sept. 17th meeting: 60.4%(+2.6 percentage points) chance of 4.0%-4.25%. (current target rate is 4.25-4.5%)
  

Overseas Futures:

• Nikkei 225 Futures: Indicating +146 open in Japan 
• China A50 Futures: Indicating -78 open in China

• DAX Futures: Indicating +20 open in Germany

Portfolio:

• Slightly Higher: On gains in my tech/utility sector longs
• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
• Market Exposure: Moved to 75% Net Long

Bear Radar

Style Underperformer:

• Small-Cap Growth -.3%
  

Sector Underperformers:

• 1) Retail -1.0% 2) Regional Banks -.9% 3) Airlines -.8%

Stocks Falling on Unusual Volume: 

• UNFI, IOT, BA, CPRX, QSG, MLNK, SERV, QUBT, OUST, PHR, CERT, OPFI, OXM, SDGR, SBET, PPTA, SLP and GME

Stocks With Unusual Put Option Activity:

• 1) CFG 2) HPP 3) ORCL 4) HTZ 5) GME

Stocks With Most Negative News Mentions:

• 1) GME 2) OXM 3) HOFT 4) CNMD 5) OUST

Sector ETFs With Most Negative Money Flow:

• 1) XLF 2) XLV 3) XLI 4) XBI 5) KRE

Charts:

• ETFs Falling on Unusual Volume
• Stocks Falling on Unusual Volume

Bull Radar

Style Outperformer:

• Large-Cap Growth +.6%

Sector Outperformers:

• 1) Electrification +2.7% 2) Gold & Silver +2.5% 3) Software +2.0%

Stocks Rising on Unusual Volume:

• LIMN, ARAI, CVGW, ORCL, PHAT, HIPO, CYD, TAC, DOGZ, ATAT, APLD, ATRO, AU, GENI, ONC, RARE, SEZL, CRDO, LEGN, PGY, ZLAB, LQDA, AEHR, MESO, MP, TRMD, SAIL, AAOI and B

Stocks With Unusual Call Option Activity:

• 1) WMB 2) EQX 3) CF 4) CFG 5) ORCL

Stocks With Most Positive News Mentions:

• 1) ORCL 2) CVAC 3) SAIL 4) SAGT 5) MIR

Sector ETFs With Most Positive Money Flow:

• 1) ARKK 2) VGT 3) VPU 4) VOX 5) VIS

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume

Tomorrow's Earnings/Economic Releases of Note; Market Movers

Earnings of Note 
Company/Estimate 

Before the Open:

• None of note

After the Close: 

• None of note

Economic Releases

10:00 am EST

• Univ. of Mich. Consumer Sentiment for June is estimated to rise to 53.6 versus 52.2 in May.
• Univ. of Mich. 1Y Inflation Expectations Index for June is estimated to fall to +6.4% versus a prior expectation of +6.6%. 

Upcoming Splits

• None of note

Other Potential Market Movers

• The US Baker Hughes oil rig count, weekly CFTC speculative net positioning reports, (BBY) annual meeting, (REGN) annual meeting, (YELP) annual meeting, (MRVL) annual meeting, (FTNT) annual meeting, (TOST) annual meeting, Wolfe Research Materials of the Future Conference and the Wells Fargo MedTech Innovation Spotlight Conference could also impact global trading tomorrow.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

Mid-Day Market Internals

NYSE Composite Index:

• Volume Running -3.3% Below 100-Day Average 
• Nasdaq/NYSE Volume Ratio 37.5 +15.9
• 4 Sectors Declining, 7 Sectors Rising
• 46.1% of Issues Advancing, 51.6% Declining 
• TRIN/Arms 1.35 +19.5%
  
• Non-Block Money Flow -$152.1M
  
• 51 New 52-Week Highs, 19 New Lows
• 45.2% (+.3%) of Issues Above 200-day Moving Average
• Average 14-Day RSI 66.2 -1.1

Other:

• Bloomberg Global Risk-On/Risk-Off Index 70.2 -1.7%
• Bloomberg Cyclicals/Defensives Index 241.9 -.4%
  
• Morgan Stanley Growth vs Value Index 165.66 +.29%
• CNN Fear & Greed Index 62.0 (GREED) -4.0
• 1-Day Vix 12.2 -12.5%
  
• Vix 18.0 +4.5%
  
• Total Put/Call .80 +2.6%