Market Week in Review

• S&P 500 2,091.80 -.71%*

The Weekly Wrap by Briefing.com.

*5-Day Change

Weekly Scoreboard*

Indices

• S&P 500 2,091.80 -.71%

• DJIA 17,850.10 -.87%

• NASDAQ 5,068.45 -.02%

• Russell 2000 1,258.50 +.96%

• S&P 500 High Beta 34.72 unch.

• Goldman 50 Most Shorted 144.91 +1.0% 

• Wilshire 5000 21,942.40 -.44%

• Russell 1000 Growth 1,005.45 -.54%

• Russell 1000 Value 1,025.10 -.71%

• S&P 500 Consumer Staples 487.28 -2.56%

• Solactive US Cyclical 137.26 -.93%

• Morgan Stanley Technology 1,046.89 -.15%

• Transports 8,509.77 +2.54%

• Utilities 562.96 -4.07%

• Bloomberg European Bank/Financial Services 117.80 -1.13%

• MSCI Emerging Markets 40.41 -2.31%

• HFRX Equity Hedge 1,224.73 -.13%
• HFRX Equity Market Neutral 985.44 -.20%

Sentiment/Internals

• NYSE Cumulative A/D Line 237,811 -.97%

• Bloomberg New Highs-Lows Index -178 -80

• Bloomberg Crude Oil % Bulls 20.6 -33.1%

• CFTC Oil Net Speculative Position 347,991 +1.33%
• CFTC Oil Total Open Interest 1,614,397 -.42%

• Total Put/Call 1.02 -11.40%

• OEX Put/Call .80 -76.19%

• ISE Sentiment 93.0 +1.08%

• NYSE Arms .81 -25.47%

• Volatility(VIX) 14.45 +3.54%

• S&P 500 Implied Correlation 63.73 +2.61%

• G7 Currency Volatility (VXY) 10.29 +1.88%

• Emerging Markets Currency Volatility (EM-VXY) 9.66 +3.09%

• Smart Money Flow Index 17,361.08 -1.18%

• ICI Money Mkt Mutual Fund Assets $2.614 Trillion +.18%
• ICI US Equity Weekly Net New Cash Flow -$5.390 Billion

• AAII % Bulls 27.3 +1.3%
• AAII % Bears 24.6 -2.0%

Futures Spot Prices

• CRB Index 222.53 -.29%

• Crude Oil 58.92 -2.16%

• Reformulated Gasoline 202.58 -1.81%

• Natural Gas 2.59 -2.16%

• Heating Oil 186.57 -4.63%

• Gold 1,170.60 -1.61%

• Bloomberg Base Metals Index 167.76 -1.95%

• Copper 269.65 -1.46%

• US No. 1 Heavy Melt Scrap Steel 231.67 USD/Ton unch.
• China Iron Ore Spot 64.45 USD/Ton +4.20%

• Lumber 291.20 +6.58%

• UBS-Bloomberg Agriculture 1,082.84 +2.54%

Economy

• ECRI Weekly Leading Economic Index Growth Rate 1.0% -40.0 basis points

• Philly Fed ADS Real-Time Business Conditions Index .0447 +19.2%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 124.94 +.19%

• Citi US Economic Surprise Index -47.90 +6.3 points

• Citi Eurozone Economic Surprise Index 6.0 +17.1 points

• Citi Emerging Markets Economic Surprise Index -21.50 -7.6 points

• Fed Fund Futures imply 56.0% chance of no change, 44.0% chance of 25 basis point cut on 6/17

• US Dollar Index 96.34 -.53%

• Euro/Yen Carry Return Index 145.80 +2.37%

• Yield Curve 169.0 +19.0 basis points

• 10-Year US Treasury Yield 2.40% +30.0 basis points

• Federal Reserve's Balance Sheet $4.427 Trillion +.03%

• U.S. Sovereign Debt Credit Default Swap 16.18 -2.96%

• Illinois Municipal Debt Credit Default Swap 225.0 -1.45%

• Western Europe Sovereign Debt Credit Default Swap Index 23.19 -.81%

• Asia Pacific Sovereign Debt Credit Default Swap Index 62.02 +3.84%
  

• Emerging Markets Sovereign Debt CDS Index 310.26 +.34%
  

• Israel Sovereign Debt Credit Default Swap 65.50 unch.

• Iraq Sovereign Debt Credit Default Swap 661.52 +1.48%

• Russia Sovereign Debt Credit Default Swap 349.04 +12.97%

• iBoxx Offshore RMB China Corporates High Yield Index 120.11 +.02%

• 10-Year TIPS Spread 1.88% +4.0 basis points

• TED Spread 27.0 -1.75 basis points

• 2-Year Swap Spread 24.75 +.25 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -19.25 +2.25 basis points

• N. America Investment Grade Credit Default Swap Index 66.92 +5.04%

• America Energy Sector High-Yield Credit Default Swap Index 1,162.0 +4.14%

• European Financial Sector Credit Default Swap Index 77.20 +1.50%
  

• Emerging Markets Credit Default Swap Index 307.30 +5.97%
  

• CMBS AAA Super Senior 10-Year Treasury Spread  to Swaps 87.50 unch.

• M1 Money Supply $2.991 Trillion +.75%

• Commercial Paper Outstanding 943.90 -.10%

• 4-Week Moving Average of Jobless Claims 274,750 -1,500

• Continuing Claims Unemployment Rate 1.6% -10 basis points

• Average 30-Year Mortgage Rate 3.87% unch.
• Weekly Mortgage Applications 369.50 -7.60%

• Bloomberg Consumer Comfort 40.5 -.4 point

• Weekly Retail Sales +1.80% unch.

• Nationwide Gas $2.76/gallon +.02/gallon

• Baltic Dry Index 603.0 +2.38%

• China (Export) Containerized Freight Index 890.42 -.14%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 37.50 -6.25%
• Rail Freight Carloads 247,170 -12.07%

Best Performing Style

• Small-Cap Growth +1.5%

Worst Performing Style

• Mid-Cap Value -.7%

Leading Sectors

• Gaming +6.5%

• Social Media +4.0%

• I-Banks +3.2%

• Banks +2.7%

• Steel +2.6%

Lagging Sectors

• HMOs -2.0% 

• Semis -2.5%

• Gold & Silver -2.7%

• Coal -2.8%

• Utilities -4.1%

Weekly High-Volume Stock Gainers (26)

• HRTX, RXDX, IMGN, OMG, BRLI, HUM, GIII, REGI, XENT, EROS, BOOT, STCK, AMBA, FIVE, GES, PVH, SNCR, ALTR, AMPH, GME, CUZ, TITN, ADMS, ZION, NX and XNCR

Weekly High-Volume Stock Losers (13)

• VEEV, VNCE, VWR, BGG, CRRC, OPK, CTLT, NAV, GEF, MRTX, VRA, RGLS and PBYI

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Slightly Lower into Afternoon on Rising Long-Term Rates, Surging European/Emerging Markets/US High-Yield Debt Angst, Earnings Concerns, Utilities/Metals & Mining Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Modestly Higher
  

• Sector Performance: Mixed
  

• Volume: Below Average

• Market Leading Stocks: Outperforming

Equity Investor Angst:

• Volatility(VIX) 14.45 -1.77%

• Euro/Yen Carry Return Index 145.85 -.09%

• Emerging Markets Currency Volatility(VXY) 9.66 +.73%

• S&P 500 Implied Correlation 64.38 +1.92%

• ISE Sentiment Index 97.0 +15.5%

• Total Put/Call 1.04 -9.57%

• NYSE Arms .70 -57.71% 

Credit Investor Angst:

• North American Investment Grade CDS Index 66.74 +1.16%

• America Energy Sector High-Yield CDS Index 1,164.0 +1.97%

• European Financial Sector CDS Index 77.21 +3.46%

• Western Europe Sovereign Debt CDS Index 23.19 +3.55%

• Asia Pacific Sovereign Debt CDS Index 62.02 +.46%

• Emerging Market CDS Index 310.43 +2.92%
  

• iBoxx Offshore RMB China Corporates High Yield Index 120.11 +.05%

• 2-Year Swap Spread 24.75 +.25 basis point

• TED Spread 27.0 +.25 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -19.25 -.5 basis point

Economic Gauges:

• 3-Month T-Bill Yield .01% unch.

• Yield Curve 168.0 +4.0 basis points

• China Import Iron Ore Spot $64.45/Metric Tonne -.49%

• Citi US Economic Surprise Index -47.90 +2.6 points

• Citi Eurozone Economic Surprise Index 6.0 +1.6 points

• Citi Emerging Markets Economic Surprise Index -21.50 -2.0 points

• 10-Year TIPS Spread 1.88 +4.0 basis points

Overseas Futures:

• Nikkei 225 Futures: Indicating +103 open in Japan 
• China A50 Futures: Indicating -392 open in China

• DAX Futures: Indicating -12 open in Germany

Portfolio: 

• Higher: On gains in my biotech sector longs and emerging markets shorts

• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges

• Market Exposure: Moved to 50% Net Long

Bear Radar

Style Underperformer:

• Large-Cap Growth -.21%

Sector Underperformers:

• 1) Utilities -1.46% 2) Steel -1.38% 3) Gold & Silver -1.35%

Stocks Falling on Unusual Volume:

• ZUMZ, VNCE, NEWM, ESL, LE, CPF, EHIC, THO, COHU, SYT, VCLT, PAY, COO, NAV, PBYI, KANG, TTM, AXL, LABL, SHLD, UNFI, SJM, SWIR, IMH and DTE

Stocks With Unusual Put Option Activity:

• 1) HEDJ 2) DISH 3) XLF 4) HIG 5) HYG
  

Stocks With Most Negative News Mentions:

• 1) CMS 2) ZUMZ 3) DUK 4) DOW 5) MCD
  

Charts:

• ETFs Falling on Unusual Volume

• Stocks Falling on Unusual Volume

Bull Radar

Style Outperformer:

• Small-Cap Growth +.09%

Sector Outperformers:

• 1) Oil Service +1.36% 2) Banks +1.18% 3) Alt Energy +1.04%
  

Stocks Rising on Unusual Volume:

• ZOES, DMND, QUNR, BITA, WB, FEYE, QIHU, SINA, JD, SUPN, JMEI, CYBR and DENN

Stocks With Unusual Call Option Activity:

• 1) MWE 2) CZR 3) EPI 4) GALE 5) EXPR
  

Stocks With Most Positive News Mentions:

• 1) DMND 2) DENN 3) UA 4) ANTM 5) NDLS
  

Charts:

• ETFs Rising on Unusual Volume 

• Stocks Rising on Unusual Volume

Morning Market Internals

NYSE Composite Index:

• Volume Running 7.4% Above 100-day average
• 3 Sectors Rising, 7 Sectors Declining
• 42.3% of Issues Advancing, 54.0% Declining
• 35 New 52-Week Highs, 134 New Lows
• 49.7% of Issues Above 200-day Moving Average
• Average 14-Day RSI 40.9
• Vix 14.79
• Total Put/Call 1.07
• TRIN/Arms .58