- S&P 500 1,886.76 -1.02%*
The Weekly Wrap by Briefing.com.
*5-Day Change
Friday, October 17, 2014
Weekly Scoreboard*
Indices
ETFs
Stocks
*5-Day Change
- S&P 500 1,886.76 -1.02%
- DJIA 16,380.40 -.99%
- NASDAQ 4,258.33 -.42%
- Russell 2000 1,082.33 +2.75%
- S&P 500 High Beta 31.16 +.39%
- Wilshire 5000 19,613.60 -1.76%
- Russell 1000 Growth 880.22 -.74%
- Russell 1000 Value 943.75 -.78%
- S&P 500 Consumer Staples 460.04 -2.25%
- Solactive US Cyclical 128.29 +1.90%
- Morgan Stanley Technology 904.90 -1.02%
- Transports 8,147.84 +3.23%
- Utilities 562.56 +.16%
- Bloomberg European Bank/Financial Services 101.85 -2.01%
- MSCI Emerging Markets 40.59 -1.22%
- HFRX Equity Hedge 1,137.32 -2.70%
- HFRX Equity Market Neutral 979.52 +.03%
- NYSE Cumulative A/D Line 219,225 +.74%
- Bloomberg New Highs-Lows Index -997 +13
- Bloomberg Crude Oil % Bulls n/a
- CFTC Oil Net Speculative Position 278,780 -5.07%
- CFTC Oil Total Open Interest 1,537,452 +2.24%
- Total Put/Call 1.19 -1.65%
- OEX Put/Call 2.10 +47.89%
- ISE Sentiment 92.0 +33.33%
- NYSE Arms .62 -53.38%
- Volatility(VIX) 21.99 +17.22%
- S&P 500 Implied Correlation 68.35 +6.83%
- G7 Currency Volatility (VXY) 7.76 +4.72%
- Emerging Markets Currency Volatility (EM-VXY) 8.48 +3.16%
- Smart Money Flow Index 10,942.49 -3.10%
- ICI Money Mkt Mutual Fund Assets $2.609 Trillion -.83%
- ICI US Equity Weekly Net New Cash Flow -$.533 Billion
- AAII % Bulls 42.7 +7.0%
- AAII % Bears 33.7 +8.8%
- CRB Index 272.64 -1.37%
- Crude Oil 82.75 -3.24%
- Reformulated Gasoline 223.227 -.92%
- Natural Gas 3.77 -2.44%
- Heating Oil 249.76 -2.43%
- Gold 1,239.0 +1.28%
- Bloomberg Base Metals Index 188.80 -1.19%
- Copper 300.35 -1.12%
- US No. 1 Heavy Melt Scrap Steel 348.40 USD/Ton -2.95%
- China Iron Ore Spot 80.82 USD/Ton+.72%
- Lumber 334.60 -2.45%
- UBS-Bloomberg Agriculture 1,210.63 +1.94%
- ECRI Weekly Leading Economic Index Growth Rate 1.6% -20 basis points
- Philly Fed ADS Real-Time Business Conditions Index .5151 -3.27%
- S&P 500 Blended Forward 12 Months Mean EPS Estimate 128.41 -.28%
- Citi US Economic Surprise Index 20.60 +1.5 points
- Citi Eurozone Economic Surprise Index -54.10 +2.0 points
- Citi Emerging Markets Economic Surprise Index -20.80 +6.2 points
- Fed Fund Futures imply 36.0% chance of no change, 64.0% chance of 25 basis point cut on 9/17
- US Dollar Index 85.11 -.82%
- Euro/Yen Carry Return Index 142.38 +.30%
- Yield Curve 182.0 -4.0 basis points
- 10-Year US Treasury Yield 2.19% -9.0 basis points
- Federal Reserve's Balance Sheet $4.432 Trillion +.41%
- U.S. Sovereign Debt Credit Default Swap 18.62 +10.69%
- Illinois Municipal Debt Credit Default Swap 177.0 +2.22%
- Western Europe Sovereign Debt Credit Default Swap Index 33.65 +29.07%
- Asia Pacific Sovereign Debt Credit Default Swap Index 73.81 +3.67%
- Emerging Markets Sovereign Debt CDS Index 237.35 -.03%
- Israel Sovereign Debt Credit Default Swap 79.65 -2.87%
- Iraq Sovereign Debt Credit Default Swap 363.48 +2.73%
- Russia Sovereign Debt Credit Default Swap 258.16 +.32%
- China Blended Corporate Spread Index 353.84 +7.65%
- 10-Year TIPS Spread 1.93% -3.0 basis points
- TED Spread 21.0 -1.5 basis points
- 2-Year Swap Spread 26.25 unch.
- 3-Month EUR/USD Cross-Currency Basis Swap -10.25 -.75 basis point
- N. America Investment Grade Credit Default Swap Index 69.79 -1.51%
- European Financial Sector Credit Default Swap Index 73.32 +5.65%
- Emerging Markets Credit Default Swap Index 261.75 -1.44%
- CMBS AAA Super Senior 10-Year Treasury Spread to Swaps 83.0 -.5 basis point
- M1 Money Supply $2.845 Trillion -.04%
- Commercial Paper Outstanding 1,060.50 -2.1%
- 4-Week Moving Average of Jobless Claims 283,500 -4,250
- Continuing Claims Unemployment Rate 1.8% unch.
- Average 30-Year Mortgage Rate 3.97% -15 basis points
- Weekly Mortgage Applications 370.40 +5.62%
- Bloomberg Consumer Comfort 36.2 -.6 point
- Weekly Retail Sales +3.80% -60 basis points
- Nationwide Gas $3.14/gallon -.10/gallon
- Baltic Dry Index 930 -3.43%
- China (Export) Containerized Freight Index 1,021.02 -3.56%
- Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 22.50 unch.
- Rail Freight Carloads 273,436 -1.17%
- Small-Cap Growth +3.0%
- Large-Cap Value -.8%
- Road & Rail +5.7%
- Homebuilders +5.1%
- Alt Energy +3.4%
- Gaming +3.4%
- Semis +2.5%
- Computer Services -1.4%
- Energy -1.8%
- Internet -2.9%
- Drugs -3.0%
- Medical Equipment -3.5%
- NLNK, EXAS, CUDA, ANGO, DPZ, EGL, CSX, AEL and MSTR
- NOG, TXN, CCS, AVT, MTZ, A, NATI, LNCO, ABBV, PLCM, ACM, ISIL, FCS, AMTD, HDS, SAVE, ARW, CRK, CAVM, FAST, LMNX, CIE, KODK, MPWR, LYB, PTEN, HAL, BHI, SN, QEP, LAD, FET, NFX, JONE, CJES, MCHP, EXAC, MTW, BAS, KN, NFLX, SSE, ESPR and NTCT
ETFs
Stocks
*5-Day Change
Stocks Surging into Final Hour on Central Bank Hopes, Less Eurozone/Emerging Markets Debt Angst, Earnings Optimism, Homebuilding/Healthcare Sector Strength
Broad Equity Market Tone:
- Advance/Decline Line: About Even
- Sector Performance: Most Sectors Rising
- Volume: Around Average
- Market Leading Stocks: Performing In Line
- Volatility(VIX) 22.60 -10.32%
- Euro/Yen Carry Return Index 142.26 +.04%
- Emerging Markets Currency Volatility(VXY) 8.40 -2.78%
- S&P 500 Implied Correlation 69.42 +2.86%
- ISE Sentiment Index 98.0 +38.03%
- Total Put/Call 1.11 +9.90%
- NYSE Arms .67 -57.21%
- North American Investment Grade CDS Index 70.75 -3.88%
- European Financial Sector CDS Index 72.58 -6.97%
- Western Europe Sovereign Debt CDS Index 33.65 -2.18%
- Asia Pacific Sovereign Debt CDS Index 74.32 -2.76%
- Emerging Market CDS Index 262.54 -6.20%
- China Blended Corporate Spread Index 353.83 +1.41%
- 2-Year Swap Spread 26.25 -1.0 basis point
- TED Spread 20.75 -.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -10.0 +.75 basis point
- 3-Month T-Bill Yield .03% unch.
- Yield Curve 183.0 +1.0 basis point
- China Import Iron Ore Spot $80.82/Metric Tonne +.62%
- Citi US Economic Surprise Index 20.60 +2.3 points
- Citi Eurozone Economic Surprise Index -54.1 +.2 point
- Citi Emerging Markets Economic Surprise Index -20.80 +1.8 points
- 10-Year TIPS Spread 1.93 +3 basis points
- Nikkei Futures: Indicating +215 open in Japan
- DAX Futures: Indicating -73 open in Germany
- Slightly Higher: On gains in my biotech/tech/medical sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short
- Market Exposure: Moved to 50% Net Long
Today's Headlines
Bloomberg:
Financial Times:
- Rebel Elections Snarl Ukraine Talks as Putin Resists EU. Separatists’ plans to bring forward elections in rebel-held regions of Ukraine have become a sticking point in talks between the European Union and Russia aimed at resolving conflict. Russian President Vladimir Putin refused to denounce votes planned for Nov. 2 in Luhansk and Donetsk in the east of the country despite pressure from European leaders including Germany’s Angela Merkel and the U.K.’s David Cameron at talks in Milan today, according to a Downing Street official.
- Putin’s Ruble Rescue Plan Crashes Into Global Market Rout. Russia’s efforts to ease a dollar funding crunch that is exacerbating the ruble’s decline are being hampered by a global market rout. The ruble fell to a fresh record yesterday, bond yields jumped and the cost of insuring government debt against non-payment was within 10 basis points of the highest level since 2011 even as the central bank announced a $50 billion repurchase agreement program and the Finance Ministry pledged an additional $3 billion.
- Dallas Lab Worker Isolated on Carnival Cruise for Possible Ebola Contact. (video) A health worker from the Dallas hospital that diagnosed the first U.S. case of Ebola has voluntarily been isolated aboard a Carnival Corp. cruise ship. The worker, a lab supervisor at Texas Health Presbyterian Hospital, hasn’t exhibited any symptoms of Ebola since she boarded the Carnival Magic bound for the Caribbean on Oct. 12 in Galveston, Texas, according to an e-mailed statement today from Carnival Corp.
- ECB Says Too-Slow Governments a Threat to Europe Revival. European Central Bank policy makers said governments must accelerate plans to strengthen their economies or risk derailing the region’s recovery. “Talking vaguely about structural reforms, but not doing them, is the worst of all worlds,” Executive Board member Benoit Coeure said today in Riga. “It creates uncertainty over the path of real interest rates, without in tandem raising expectations of future growth.”
- Italian Bonds Drop as Greek Concern Sparks Worst Week in a Year. Italian bonds fell, with 10-year yields set for the biggest weekly increase in more than a year, as prospects of Greece exiting its bailout combined with the threat of recession to sap demand for higher-yielding assets. Spain’s government securities dropped for a third day before the country’s rating review by Moody’s Investors Service, a day after a debt sale fell short of its maximum target amid turmoil prompted by a surge in Greek yields. German 10-year bonds headed for a fifth week of gains as economic reports this week and gauges showing a decline in inflation expectations fueled concern the euro area is heading for recession.
- Rolls-Royce Sales to Drop on Russia Sanctions, Economic Woes. Rolls-Royce Holdings Plc (RR/) said sales will decline this year and could fall again in 2015 as a worsening economic situation prompts clients to delay orders and sanctions over the Ukraine crisis stall Russian contracts. Shares of London-based Rolls-Royce fell as much as 16 percent as the world’s second-biggest maker of aircraft engines said revenue will drop by between 3.5 and 4 percent in 2014, with free cash flow dwindling to about 350 million pounds ($564 million), or less than half the figure previously anticipated.
- Corporate Gloom Spreads in Europe as Rolls-Royce to Nestle Miss. While Rolls-Royce Holdings Plc (RR/)’s gas turbines and Jimmy Choo Plc (CHOO)’s $1,995 peep-toe sandals have nothing in common, today the two companies encapsulated the corporate decline that’s gripping Europe. It’s been a tough week for European companies, with Rolls-Royce cutting its full-year target for sales and cash flow, leading the stock to drop the most in eight month, while Jimmy Choo sold shares to the public at the bottom end of its range.
- European Stocks Rise Most Since 2011 on Stimulus Pressure. (video) European stocks climbed the most in almost three years, ending their longest losing streak in 11 years, as an ailing euro-area economy increases pressure on policy makers to provide more stimulus measures. The Stoxx Europe 600 Index jumped 2.8 percent to 318.68 at the close of trading, after a 7.7 percent slump in the past eight days dragged it to the lowest level of the year.
- FHFA Said to Plan Steps to Ease Lending to Riskier Buyers. A U.S. housing regulator plans new steps to encourage banks to lend to buyers with less than-perfect credit scores, according to two people with direct knowledge of the matter. Melvin L. Watt, the director of the Federal Housing Finance Agency, will clarify in a speech next week when banks are required to buy back failing loans from Fannie Mae (FNMA) and Freddie Mac, said the people, who asked not to be identified because his plans aren’t public.
- CDC Doled Out $25 Million In Bonuses While Blaming Cuts For Ebola Outbreak. Top public health officials have collected $25 million in bonuses since 2007, carving out extra pay for themselves in tight federal budgetary times while blaming a lack of money for the Obama administration’s lackluster response to the Ebola outbreak.
- Ebola 'strippers' quarantine, Schools' student screen. An Atlanta-area public school district is refusing to enroll any new students from three Ebola-afflicted countries in West Africa without special approval and a medical sign-off, the district said Friday.
Financial Times:
- Junk bonds caught in flight from risk. A sell-off in US stocks this week hit the junk bond markets as investors shunned the riskier securities amid fears about the outlook for the global economy.
- Jens Weidmann: ECB's 'QE' will not fix the eurozone's problems. Bundesbank president says eurozone is being hampered by structural barriers, not monetary policy.
Bear Radar
Style Underperformer:
- Small-Cap Value -.13%
- 1) Gold & Silver -2.71% 2) Oil Service -.73% 3) Retail -.31%
- URBN, NLNK, NFLX, ATHN, GIII, MYGN, SNDK, CMA, GOOGL, GOOG, TS, CF, CMRX, EGL, COF, CWEI, FRAN, COV, BRS, KSU, AMSF, KT, VNR, FARO, WPZ, FRAN, AREX, XONE and URBN
- 1) HCA 2) COF 3) BAX 4) HIG 5) DOW
- 1) CWEI 2) TIFF 3) LULU 4) RIG 5) URBN
Bull Radar
Style Outperformer:
- Large-Cap Growth +1.53%
- 1) Homebuilders +4.17% 2) Biotech +2.41% 3) HMOs +2.39%
- ESI, TTPH, QLGC, XLNX, PPC, REGN, SRPT, TXT, HAL, GBX, BAS, SUNE, FMI, EQIX, EMES, CJES, BCEI, CPHD, NYLD, HAL, SLB, MRC, BHI, SLCA, VMC, ICPT, HON, CHKR, WAL, NTCT, ITT, VC, HUN, WLL, TWC, LINE, ADTN, CLH, OXY and HDS
- 1) URBN 2) JDSU 3) WY 4) TWC 5) ESI
- 1) TXT 2) BA 3) MS 4) PCYC 5) SLB
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