Weekly Scoreboard*

S&P 500 2,711.02 -8.8%

The Weekly Wrap by Briefing.com.

 
Indices

• DJIA 23,185.62 -10.4%

• NASDAQ 7,874.87 -8.2%

• Russell 2000 1,210.14 -16.5%

• S&P 500 High Beta 31.76 -16.4%

• Goldman 50 Most Shorted 100.29 -13.6%

• Wilshire 5000 27,288.33 -9.87%

• Russell 1000 Growth 1,572.33 -7.45%

• Russell 1000 Value 1,046.62 -11.6%

• S&P 500 Consumer Staples 582.16 -7.93%

• MSCI Cyclicals-Defensives Spread 1,101.56 -.7%
  

• NYSE Technology 1,952.27 -8.81%

• Transports 7,939.40 -11.35%

• Utilities 762.60 -15.43%

• Bloomberg European Bank/Financial Services 48.97 -20.8%

• MSCI Emerging Markets 36.74 -1.98%

• HFRX Equity Hedge 1,152.01 -4.2%

• HFRX Equity Market Neutral 905.18 -1.64%

Sentiment/Internals

• NYSE Cumulative A/D Line 382,633 -1.72%

• Bloomberg New Highs-Lows Index -6,720 -5,727

• Bloomberg Crude Oil Net % Bulls 23.3 unch.

• CFTC Oil Net Speculative Position 388,369 -9.99%

• CFTC Oil Total Open Interest 2,196,089 +.75%

• Total Put/Call 1.26 +5.88%

• OEX Put/Call 1.17 +15.31%

• ISE Sentiment 72.0 -4

• NYSE Arms .38 -68.1%

• Volatility(VIX) 57.83 +37.9%

• S&P 500 Implied Correlation 83.15 +48.1%

• G7 Currency Volatility (VXY) 11.70 +38.63%
  

• Emerging Markets Currency Volatility (EM-VXY) 12.45 +44.77%

• Smart Money Flow Index 13,668.65 -6.72%

• ICI Money Mkt Mutual Fund Assets $3.777 Trillion +2.55%

• ICI Domestic Equity Mutual Fund/ETFs Weekly Flows -$13.794 Billion

• AAII % Bulls 29.7 -23.2%

• AAII % Bears 51.3 +29.4%

Futures Spot Prices

• CRB Index 140.84 -9.63%

• Crude Oil 31.73 -23.7%

• Reformulated Gasoline 89.92 -35.4%

• Natural Gas 1.87 +7.97%

• Heating Oil 113.74 -18.27%

• Gold 1,516.70 -9.41%

• Bloomberg Base Metals Index 160.0 -1.8%

• Copper 246.40 -3.52%

• US No. 1 Heavy Melt Scrap Steel 267.0 USD/Metric Tonne -3.96%

• China Iron Ore Spot 88.95 USD/Metric Tonne +4.71%

• Lumber 343.0 -10.6%

• UBS-Bloomberg Agriculture 809.26 -4.83%

Economy

• Atlanta Fed GDPNow Forecast +3.05% unch.

• ECRI Weekly Leading Economic Index Growth Rate -.5% -170.0 basis points
• Bloomberg US Recession Probability Next 12 Months 40.0% +15.0 percentage points

• Philly Fed ADS Real-Time Business Conditions Index .0311 +7.2%

• US Economic Policy Uncertainty Index 189.40 +55.2%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 176.39 -.97%

• Citi US Economic Surprise Index 73.8 +4.9 points

• Citi Eurozone Economic Surprise Index 14.2 +6.0 points

• Citi Emerging Markets Economic Surprise Index -19.40 +1.5 points

• Fed Fund Futures imply 0.0% chance of no change, 67.9% chance of 100.0 basis point rate cut on 3/18

• US Dollar Index 98.75 +2.75%

• MSCI Emerging Markets Currency Index 1,597.38 -1.83%

• Bitcoin/USD 5,114.18 -44.0%

• Euro/Yen Carry Return Index 124.29 +.71%

• Yield Curve 33.0 unch.
  

• 10-Year US Treasury Yield .93% +18.0 basis points

• Federal Reserve's Balance Sheet $4.272 Trillion +1.67%

• U.S. Sovereign Debt Credit Default Swap 18.46 +9.62%

• Illinois Municipal Debt Credit Default Swap 166.35 +8.76%
  

• Italian/German 10Y Yld Spread 233.0 -54.75 basis points

• China Sovereign Debt Credit Default Swap 73.74 +41.5%
  

• Brazil Sovereign Debt Credit Default Swap 280.21 +95.4%
  

• Israel Sovereign Debt Credit Default Swap 62.02 +24.5%

• South Korea Sovereign Debt Credit Default Swap 46.52 +25.0%

• Russia Sovereign Debt Credit Default Swap 228.56 +108.3%

• iBoxx Offshore RMB China Corporate High Yield Index 171.38 -.19%

• 10-Year TIPS Spread .90% -41.0 basis point

• TED Spread 47.75 -8.0 basis points

• 2-Year Swap Spread 3.75 -8.0 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -63.5 -50.25 basis points

• N. America Investment Grade Credit Default Swap Index 115.64 +47.6%
  

• America Energy Sector High-Yield Credit Default Swap Index 1,418.0 +69.4%

• European Financial Sector Credit Default Swap Index 128.40 +39.7%
  

• Emerging Markets Credit Default Swap Index 357.88 +35.2%
  

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

• M1 Money Supply $4.046 Trillion +1.45%

• Commercial Paper Outstanding 1,128.90 +.50%

• 4-Week Moving Average of Jobless Claims 214,000 +1,000

• Continuing Claims Unemployment Rate 1.2% unch.
  

• Average 30-Year Mortgage Rate 3.36% +7.0 basis points

• Weekly Mortgage Applications 1,172.10 +55.4%

• Bloomberg Consumer Comfort 62.7 -.3 point

• Weekly Retail Sales +6.0% +60.0 basis points

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

• Baltic Dry Index 633.0 +2.44%

• China (Export) Containerized Freight Index 898.44 -3.78%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 160.0+133.3%

• Rail Freight Carloads 232,561 -4.34%

Best Performing Style

• Large-Cap Growth -12.7%

Worst Performing Style

• Small-Cap Value -20.7%

Leading Sectors

• Shipping -4.0%

• Drugs -9.9%

• Software -11.0%

• Video Gaming -12.0%

• Healthcare Providers -12.5%

Lagging Sectors

• Airlines -24.8% 

• Homebuilding -29.2%

• Gold & Silver -30.4%

• Energy -32.5%

• Oil Service -41.5%

Weekly High-Volume Stock Gainers (5)

• DSSI, COG, PINC, INSW and FCN

Weekly High-Volume Stock Losers (28)

• VIRT, SRG, MPLX, PENN, USFD, KREF, AVGO, ZBH, AXNX, MGM, GMED, MHK, QTWO, SEAS, LGND, DKS, OMER, JBLU, INSP, ESPR, JBLU, PFSI, ESPR, GLPI, PEN, AIR, RWT, WORK and PLAY

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Substantially Higher into Final Hour on Less European/Emerging Markets/US High-Yield Debt Angst, Bargain-Hunting, Short-Covering, Financial/Transport Sector Strength

 Broad Equity Market Tone:

• Advance/Decline Line: Substantially Higher
  

• Sector Performance: Almost Every Sector Rising
  

• Volume: Heavy

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 64.5 -14.5%

• Euro/Yen Carry Return Index 123.72 +1.99%

• Emerging Markets Currency Volatility(VXY) 12.65 +.8%

• S&P 500 Implied Correlation 80.2 -4.29%

• ISE Sentiment Index 54.0 -14
  

• Total Put/Call 1.22 -17.0%

• NYSE Arms .85 +57.4%

Credit Investor Angst:

• North American Investment Grade CDS Index 119.73 -13.9%
  

• America Energy Sector High-Yield CDS Index 1,425.0 +5.65%

• European Financial Sector CDS Index 131.09 -11.9%

• Italian/German 10Y Yld Spread 233.0 -17.0 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 128.59 -2.48%
  

• Emerging Market CDS Index 357.69 -10.2%
  

• iBoxx Offshore RMB China Corporate High Yield Index 171.38 +.02%

• 2-Year Swap Spread 3.75 +5.25 basis points

• TED Spread 49.50 +4.5 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -65.0 -49.75 basis points

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 60.95 -.07%
• 3-Month T-Bill Yield .26% -15.0 basis points

• Yield Curve .33 unch.

• China Iron Ore Spot 89.0 USD/Metric Tonne +.74%

• Citi US Economic Surprise Index 73.80 +.3 point

• Citi Eurozone Economic Surprise Index 14.2 +.7 point

• Citi Emerging Markets Economic Surprise Index -19.4 -2.1 points

• 10-Year TIPS Spread .92 -1.0 basis point
• 65.0% chance of 100.0 basis point Fed rate cut at April 29th meeting, 63.4% chance of 100.0 basis point cut at June 10th meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating +279 open in Japan 
• China A50 Futures: Indicating -92 open in China

• DAX Futures: Indicating +108 open in Germany

Portfolio:

• Slightly Lower: On losses in my index hedges and emerging market shorts

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

• Market Exposure: Moved to 50% Net Long

Morning Market Internals

NYSE Composite Index:

• Volume Running +82.7% Above 100-Day Average
• 9 Sectors Rising, 2 Sectors Declining
• 63.8% of Issues Advancing, 35.2% Declining
• 1 New 52-Week Highs, 431 New Lows
• 2.6% of Issues Above 200-day Moving Average
• Average 14-Day RSI 18.4%
• Vix 73.4 -2.8%
• Total Put/Call 1.29 -12.2%
• TRIN/Arms 1.15 +112.9%