Weekly Scoreboard*

S&P 500 2,972.37 +.61%

The Weekly Wrap by Briefing.com.

 
Indices

• DJIA 25,864.78 +1.79%

• NASDAQ 8,575.62 +.1%

• Russell 2000 1,449.22 -1.84%

• S&P 500 High Beta 37.99 -6.47%

• Goldman 50 Most Shorted 128.21 -5.56%

• Wilshire 5000 30,275.24 +.24%

• Russell 1000 Growth 1,698.90 +.91%

• Russell 1000 Value 1,184.05 -.16%

• S&P 500 Consumer Staples 632.29 +6.23%

• MSCI Cyclicals-Defensives Spread 1,117.31 -3.88%
  

• NYSE Technology 2,140.87 -.20%

• Transports 8,956.06 -460%

• Utilities 901.70 +7.35%

• Bloomberg European Bank/Financial Services 61.68 -9.01%

• MSCI Emerging Markets 40.58 -2.17%

• HFRX Equity Hedge 1,248.92 +.68%

• HFRX Equity Market Neutral 929.60 -.64%

Sentiment/Internals

• NYSE Cumulative A/D Line 389,321 -.28%

• Bloomberg New Highs-Lows Index -993 +477

• Bloomberg Crude Oil Net % Bulls 23.3 unch.

• CFTC Oil Net Speculative Position 431,466 +4.78%

• CFTC Oil Total Open Interest 2,179,833 +1.95%

• Total Put/Call 1.19 -6.3%

• OEX Put/Call 1.09 +38.2%

• ISE Sentiment 68.0 -17

• NYSE Arms 1.19 +88.89%

• Volatility(VIX) 41.94 +4.56%

• S&P 500 Implied Correlation 56.15 +14.4%

• G7 Currency Volatility (VXY) 8.44 +17.4%
  

• Emerging Markets Currency Volatility (EM-VXY) 8.60 +5.7%

• Smart Money Flow Index 14,653.82 +10.24%

• ICI Money Mkt Mutual Fund Assets $3.683 Trillion +1.36%

• ICI Domestic Equity Mutual Fund/ETFs Weekly Flows -$13.536 Billion

• AAII % Bulls 38.7 +27.3%

• AAII % Bears 39.6 +1.3%

Futures Spot Prices

• CRB Index 155.85 -2.26%

• Crude Oil 41.28 -8.79%

• Reformulated Gasoline 138.90 -6.54%

• Natural Gas 1.71 +.41%

• Heating Oil 138.52 -6.73%

• Gold 1,672.40 +5.36%

• Bloomberg Base Metals Index 163.0 +1.19%

• Copper 256.0 +.39%

• US No. 1 Heavy Melt Scrap Steel 278.0 USD/Metric Tonne +2.21%

• China Iron Ore Spot 85.74 USD/Metric Tonne +.05%

• Lumber 383.70 -4.53%

• UBS-Bloomberg Agriculture 850.33 -1.51%

Economy

• Atlanta Fed GDPNow Forecast +3.05% +46.0 basis points

• ECRI Weekly Leading Economic Index Growth Rate +1.2% -140.0 basis points
• Bloomberg US Recession Probability Next 12 Months 25.0% unch.

• Philly Fed ADS Real-Time Business Conditions Index -.0099 +43.1%

• US Economic Policy Uncertainty Index 569.81 +557.2%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 178.11 -.03%

• Citi US Economic Surprise Index 68.9 +12.7 points

• Citi Eurozone Economic Surprise Index 8.2 +7.8 points

• Citi Emerging Markets Economic Surprise Index -20.90 -36.3 points

• Fed Fund Futures imply 0.0% chance of no change, 63.9% chance of 25.0 basis point rate cut on 3/18

• US Dollar Index 95.94 -2.21%

• MSCI Emerging Markets Currency Index 1,631.29 +.60%

• Bitcoin/USD 9,122.48 +5.2%

• Euro/Yen Carry Return Index 123.81 +.21%

• Yield Curve 33.0 +9.0 basis points
  

• 10-Year US Treasury Yield .75% -38.0 basis points

• Federal Reserve's Balance Sheet $4.202 Trillion +2.0%

• U.S. Sovereign Debt Credit Default Swap 16.84 +19.77%

• Illinois Municipal Debt Credit Default Swap 152.94 +.01%
  

• Italian/German 10Y Yld Spread 178.25 +4.0 basis points

• China Sovereign Debt Credit Default Swap 52.30 +4.0%
  

• Brazil Sovereign Debt Credit Default Swap 144.13 +9.21%
  

• Israel Sovereign Debt Credit Default Swap 49.83 +5.08%

• South Korea Sovereign Debt Credit Default Swap 37.27 +7.93%

• Russia Sovereign Debt Credit Default Swap 109.72 +24.4%

• iBoxx Offshore RMB China Corporate High Yield Index 171.70 +.28%

• 10-Year TIPS Spread 1.31% -12.0 basis point

• TED Spread 55.75 +36.25 basis points

• 2-Year Swap Spread 11.75 +6.0 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -13.25 +3.5 basis points

• N. America Investment Grade Credit Default Swap Index 83.76 +30.49%
  

• America Energy Sector High-Yield Credit Default Swap Index 838.0 +35.40%

• European Financial Sector Credit Default Swap Index 91.80 +24.1%
  

• Emerging Markets Credit Default Swap Index 2263.60 +8.95%
  

• CMBS AAA Super Senior 10-Year Treasury Spread to Swaps 180.0 unch.
  

• M1 Money Supply $3.987 Trillion -.28%

• Commercial Paper Outstanding 1,123.60 -.50%

• 4-Week Moving Average of Jobless Claims 213,000 +3,250

• Continuing Claims Unemployment Rate 1.2% unch.
  

• Average 30-Year Mortgage Rate 3.29% -16.0 basis points

• Weekly Mortgage Applications 754.10 +15.1%

• Bloomberg Consumer Comfort 63.0 -.5 point

• Weekly Retail Sales +5.40% +10.0 basis points

• Nationwide Gas $2.40/gallon -.06/gallon

• Baltic Dry Index 599.0 +12.0%

• China (Export) Containerized Freight Index 905.40 n/a

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 30.0 unch.

• Rail Freight Carloads 242,949 -2.75%

Best Performing Style

• Large-Cap Growth -1.5%

Worst Performing Style

• Small-Cap Value -4.5%

Leading Sectors

• Gold & Silver +8.3%

• Utilities +4.2%

• Video Gaming +4.0%

• Healthcare Providers +3.9%

• Drugs +3.3%

Lagging Sectors

• Energy -9.2% 

• Banks -10.2%

• Airlines -10.4%

• Gaming -12.6%

• Oil Service -19.6%

Weekly High-Volume Stock Gainers (4)

• INO, COG, KRMD and GILD

Weekly High-Volume Stock Losers (60)

• BURL, LNG, CCL, IBKR, RCL, YMAB, TXG, KEM, ZEN, CWH, FHB, DK, IOTS, OUT, RRR, NCLH, CLH, SPLK, VRRM, MCK, CAR, URI, INSP, ERI, SABR, MYL, NXST, LAMR, HOG, CHNG, JPM, AQUA, EEFT, LPSN, USFD, COOP, TEX, TDG, UPLD, SHLX, LYV, PH, TYG, AIG, HRB, WSC, EXAS, GTN, PAA, HES, DCP, CEQP, SGRY, PXD, VNOM, BOOM, CVNA, OXY, CY and FANG

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Falling Substantially into Final Hour on Coronavirus Fears, European/Emerging Markets/US High-Yield Debt Angst, Oil Plunge, Energy/Financial Sector Weakness

 Broad Equity Market Tone:

• Advance/Decline Line: Substantially lower
  

• Sector Performance: Every Sector Declining
  

• Volume: Heavy

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• Volatility(VIX) 47.37 +19.5%

• Euro/Yen Carry Return Index 123.63 -.11%

• Emerging Markets Currency Volatility(VXY) 8.6 +5.9%

• S&P 500 Implied Correlation 66.3 +20.5%

• ISE Sentiment Index 80.0 -3
  

• Total Put/Call 1.06 +19.1%

• NYSE Arms 1.57 -11.3%

Credit Investor Angst:

• North American Investment Grade CDS Index 84.0 +14.4%
  

• America Energy Sector High-Yield CDS Index 832.0 +6.9%

• European Financial Sector CDS Index 91.01 +14.85%

• Italian/German 10Y Yld Spread 178.25 +13.25 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 75.31 +9.55%
  

• Emerging Market CDS Index 265.48 +8.82%
  

• iBoxx Offshore RMB China Corporate High Yield Index 171.70 +.23%

• 2-Year Swap Spread 11.75 +5.5 basis points

• TED Spread 59.0 +14.75 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -14.0 -28.0 basis points

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 63.50 -.24%
• 3-Month T-Bill Yield .46% -44.0 basis points

• Yield Curve .33 -4.0 basis points

• China Iron Ore Spot 85.09 USD/Metric Tonne -1.53%

• Citi US Economic Surprise Index 68.90 +13.2 points

• Citi Eurozone Economic Surprise Index 8.2 +4.3 points

• Citi Emerging Markets Economic Surprise Index -20.9 -6.4 points

• 10-Year TIPS Spread 1.30 -15.0 basis points
• 49.3% chance of 50.0 basis point Fed rate cut at April 29th meeting, 49.7% chance of 50.0 basis point cut at June 10th meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating -479 open in Japan 
• China A50 Futures: Indicating -348 open in China

• DAX Futures: Indicating -60 open in Germany

Portfolio:

• Slightly Lower: On losses in my tech/industrial/biotech/medical/retail sector longs

• Disclosed Trades: None

• Market Exposure: 25% Net Long

Morning Market Internals

NYSE Composite Index:

• Volume Running +83.8% Above 100-Day Average
• 0 Sectors Rising, 11 Sectors Declining
• 12.2% of Issues Advancing, 86.6% Declining
• 12 New 52-Week Highs, 644 New Lows
• 29.9% of Issues Above 200-day Moving Average
• Average 14-Day RSI 36.3%
• Vix 46.2 +16.7%
• Total Put/Call 1.18 +32.6%
• TRIN/Arms 1.51 -14.7%