Weekly Scoreboard*

S&P 500 2,488.65 -2.08%

The Weekly Wrap by Briefing.com.

 
Indices

• DJIA 21,052.53 -2.7%

• NASDAQ 7,373.08 -1.72%

• Russell 2000 1,052.05 -7.06%

• S&P 500 High Beta 27.25 -6.08%

• Goldman 50 Most Shorted 84.56 -11.0%

• Wilshire 5000 24,814.80 -3.8%

• Russell 1000 Growth 1,444.63 -2.47%

• Russell 1000 Value 936.42 -3.7%

• S&P 500 Consumer Staples 568.63 +2.31%

• MSCI Cyclicals-Defensives Spread 1,091.66 -4.53%
  

• NYSE Technology 1,817.0 -3.72%

• Transports 7,314.80 -5.97%

• Utilities 707.12 -7.56%

• Bloomberg European Bank/Financial Services 43.42 -11.8%

• MSCI Emerging Markets 33.34 -1.47%

• HFRX Equity Hedge 1,095.03 -.6%

• HFRX Equity Market Neutral 874.71 -1.39%

Sentiment/Internals

• NYSE Cumulative A/D Line 380,115 -1.02%

• Bloomberg New Highs-Lows Index -416 -202

• Commercial Bullish % Net Position -36.7 -2.9%

• CFTC Oil Net Speculative Position 436,013 -.96%

• CFTC Oil Total Open Interest 2,141,284 -.61%

• Total Put/Call 1.04 -6.6%

• OEX Put/Call 1.0 +6.82%

• ISE Sentiment 44.0 -41

• NYSE Arms .52 -59.6%

• Volatility(VIX) 48.21 -24.6%

• S&P 500 Implied Correlation 75.80 +5.7%

• G7 Currency Volatility (VXY) 10.6 -8.53%
  

• Emerging Markets Currency Volatility (EM-VXY) 12.77 +.79%

• Smart Money Flow Index 15,400.44 -1.79%

• ICI Money Mkt Mutual Fund Assets $4.397 Trillion +4.2%

• ICI Domestic Equity Mutual Fund/ETFs Weekly Flows n/a

• AAII % Bulls 34.2 +4.1%

• AAII % Bears 49.7 -4.5%

Futures Spot Prices

• CRB Index 127.96 +1.78%

• Crude Oil 28.8 +23.7%

• Reformulated Gasoline 70.3 +7.7%

• Natural Gas 1.64 -2.65%

• Heating Oil 110.37 -1.95%

• Gold 1,648.90 +.86%

• Bloomberg Base Metals Index 142.35 -.28%

• Copper 219.05 +1.0%

• US No. 1 Heavy Melt Scrap Steel 230.0 USD/Metric Tonne -9.8%

• China Iron Ore Spot 79.56 USD/Metric Tonne -5.73%

• Lumber 264.0 -15.0%

• UBS-Bloomberg Agriculture 786.33 -3.3%

Economy

• Atlanta Fed GDPNow Forecast +1.25% -143.0 basis points

• ECRI Weekly Leading Economic Index Growth Rate -26.9% -1,140.0 basis points
• Bloomberg US Recession Probability Next 12 Months 40.0% unch.

• Philly Fed ADS Real-Time Business Conditions Index -21.25 +4.85%

• US Economic Policy Uncertainty Index 9885.01 +67.5%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 162.29 -3.28%

• Citi US Economic Surprise Index -41.3 -40.0 points

• Citi Eurozone Economic Surprise Index -72.4 -14.7 points

• Citi Emerging Markets Economic Surprise Index -1.3 +22.9 points

• Fed Fund Futures imply 100.0% chance of no change, 0.0% chance of rate cut on 4/29

• US Dollar Index 98.34 +2.47%

• MSCI Emerging Markets Currency Index 1,558.01 -.76%

• Bitcoin/USD 6,730.70 +.17%

• Euro/Yen Carry Return Index 121.63 -2.49%

• Yield Curve 38.0 -15.0 basis points
  

• 10-Year US Treasury Yield .58% -13.0 basis points

• Federal Reserve's Balance Sheet $5.772 Trillion +10.7%

• U.S. Sovereign Debt Credit Default Swap 24.67 +9.47%

• Illinois Municipal Debt Credit Default Swap 266.17 -15.2%
  

• Italian/German 10Y Yld Spread 199.0 +19.0 basis points

• China Sovereign Debt Credit Default Swap 60.58 +22.7%
  

• Brazil Sovereign Debt Credit Default Swap 353.40 +31.8%
  

• Israel Sovereign Debt Credit Default Swap 84.15 +12.1%

• South Korea Sovereign Debt Credit Default Swap 42.49 +15.8%

• Russia Sovereign Debt Credit Default Swap 188.18 -11.4%

• iBoxx Offshore RMB China Corporate High Yield Index 156.12 -8.13%

• 10-Year TIPS Spread 1.04% +11.0 basis points

• TED Spread 131.0 -11.0 basis points

• 2-Year Swap Spread 24.5 -1.0 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap 66.5 +43.0 basis points

• N. America Investment Grade Credit Default Swap Index 129.6 +20.0%
  

• America Energy Sector High-Yield Credit Default Swap Index 1,423.0 +5.83%

• European Financial Sector Credit Default Swap Index 110.84 +16.2%
  

• Emerging Markets Credit Default Swap Index 388.53 +14.3%
  

• Bloomberg Barclays US Aggregate CMBS Avg. OAS 1.87 -23.4%
  

• M1 Money Supply $4.337 Trillion +4.51%

• Commercial Paper Outstanding 1,105.60 -.5%

• 4-Week Moving Average of Jobless Claims 2,612,000 +1,613,750

• Continuing Claims Unemployment Rate 2.1% +90.0 basis points
  

• Average 30-Year Mortgage Rate 3.3% -17.0 basis points

• Weekly Mortgage Applications 874,600 +15.3%

• Bloomberg Consumer Comfort 56.3 -3.4 points

• Weekly Retail Sales +7.5% -40.0 basis points

• Nationwide Gas $1.96/gallon -.09/gallon

• Baltic Dry Index 624.0 +12.2%

• China (Export) Containerized Freight Index 896.09 -.18%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 145.0 +65.7%

• Rail Freight Carloads 229,923 -2.54%

Best Performing Style

• Large-Cap Growth -2.5%

Worst Performing Style

• Small-Cap Value -9.3%

Leading Sectors

• Energy +6.0%

• Gold & Silver +5.4%

• Pharma +4.9%

• Papers +1.9%

• Foods +1.8%

Lagging Sectors

• Retail -10.7% 

• Banks -11.9%

• Gaming -16.2%

• Homebuilding -19.7%

• Airlines -23.9%

Weekly High-Volume Stock Gainers (3)

• NVAX, LVGO and MRNA

Weekly High-Volume Stock Losers (41)

• AJG, DOOR, KSS, OKE, KMX, MBUU, WMGI, HHC, UAL, CNP, OXY, HASI, ACHC, PD, RCL, COF, BRKS, LAMR, MAR, MGM, GDDY, RL, DIN, WYNN, THC, APOG, H, CAR, LYV, BXMT, AL, PRAA, MNRO, PII, ECPG, CASH, FWONK, KTB, PFSI, MIC and WD

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Falling Substantially into Afternoon on Coronavirus Fears, Global Recession Worries, European/Emerging Markets/US High-Yield Debt Angst, Financial/Retail Sector Weakness

 Broad Equity Market Tone:

• Advance/Decline Line: Substantially Lower
  

• Sector Performance: Almost Every Sector Declining
  

• Volume: Above Average

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• Volatility(VIX) 49.69 -2.4%

• Euro/Yen Carry Return Index 121.67 -.06%

• Emerging Markets Currency Volatility(VXY) 12.77 +2.24%

• S&P 500 Implied Correlation 78.21 -.43%

• ISE Sentiment Index 38.0 -49.0 points
  

• Total Put/Call .99 -18.2%

• NYSE Arms .71 -19.3%

Credit Investor Angst:

• North American Investment Grade CDS Index 130.14 +5.4%
  

• America Energy Sector High-Yield CDS Index 1,423.0 -.54%

• European Financial Sector CDS Index 130.29 +4.11%

• Italian/German 10Y Yld Spread 199.0 +9.0 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 151.67 +.74%
  

• Emerging Market CDS Index 392.91 +7.17%
  

• iBoxx Offshore RMB China Corporate High Yield Index 156.12 -5.22%

• 2-Year Swap Spread 24.5 +.5 basis point

• TED Spread 131.0 -8.0 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap 66.5 +2.75 basis points
• MBS  5/10 Treasury Spread  130.0 -1.0 basis point

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 57.57 -.83%
• 3-Month T-Bill Yield .07% unch.

• Yield Curve .37 -2.0 basis points

• China Iron Ore Spot 79.56 USD/Metric Tonne -1.23%

• Citi US Economic Surprise Index -41.3 -10.2 points

• Citi Eurozone Economic Surprise Index -72.40 -26.2 points

• Citi Emerging Markets Economic Surprise Index -1.3 +2.3 points

• 10-Year TIPS Spread 1.03 +1.0 basis point
• n/a chance of no change at April 29th meeting, n/a chance of no change at June 10th meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating -70 open in Japan 
• China A50 Futures: Indicating -106 open in China

• DAX Futures: Indicating -103 open in Germany

Portfolio:

• Slightly Higher: On gains in my consumer staple sector longs, index hedges and emerging market shorts

• Disclosed Trades: None

• Market Exposure: 25% Net Long