Weekly Scoreboard*

S&P 500 2,955.45 +3.09%

The Weekly Wrap by Briefing.com.

 
Indices

• DJIA 24,465.15 +3.23%

• NASDAQ 9,324.59 +3.45%

• Russell 2000 1,355.53 +7.41%

• S&P 500 High Beta 36.14 +9.13%

• Goldman 50 Most Shorted 130.55 +8.0%

• Wilshire 5000 29,985.34 +3.69%

• Russell 1000 Growth 1,815.23 +3.04%

• Russell 1000 Value 1,075.41 +3.81%

• S&P 500 Consumer Staples 587.98 +.14%

• MSCI Cyclicals-Defensives Spread 1,162.23 +3.73%
  

• NYSE Technology 2,374.93 +3.53%

• Transports 8,470.09 +9.06%

• Utilities 763.93 +2.21%

• Bloomberg European Bank/Financial Services 45.46 +2.55%

• MSCI Emerging Markets 36.84 +1.20%

• HFRX Equity Hedge 1,156.04 +1.01%

• HFRX Equity Market Neutral 865.87 +.68%

Sentiment/Internals

• NYSE Cumulative A/D Line 393,371 +1.36%

• Bloomberg New Highs-Lows Index 91 +372

• Commercial Bullish % Net Position -40.3 -2.6%

• CFTC Oil Net Speculative Position 541,019 +1.96%

• CFTC Oil Total Open Interest 2,248,020 +.18%

• Total Put/Call .82 +3.75%

• OEX Put/Call 1.23 -13.9%

• ISE Sentiment 95.0 -20.0

• NYSE Arms 1.42 +10.5%

• Volatility(VIX) 28.16 -10.03%

• S&P 500 Implied Correlation 65.40 -5.12%

• G7 Currency Volatility (VXY) 7.53 -6.81%
  

• Emerging Markets Currency Volatility (EM-VXY) 10.93 -4.52%

• Smart Money Flow Index 15,715.92 -.52%

• ICI Money Mkt Mutual Fund Assets $4.788 Trillion n/a

• ICI Domestic Equity Mutual Fund/ETFs Weekly Flows -$4.354 Million

• AAII % Bulls 29.0 +24.4%

• AAII % Bears 45.0 -11.0%

Futures Spot Prices

• CRB Index 129.53 +3.78%

• Crude Oil 33.34 +12.2%

• Reformulated Gasoline 103.24 +6.46%

• Natural Gas 1.74 +6.05%

• Heating Oil 98.66 +5.85%

• Gold 1,733.70 -1.15%

• Bloomberg Base Metals Index 149.73 +1.86%

• Copper 239.5 +2.57%

• US No. 1 Heavy Melt Scrap Steel 248.0 USD/Metric Tonne -.4%

• China Iron Ore Spot 94.52 USD/Metric Tonne +.31%

• Lumber 368.60 +8.2%

• UBS-Bloomberg Agriculture 780.53 +.83%

Economy

• Atlanta Fed GDPNow Forecast -41.9% -7.0 percentage points

• ECRI Weekly Leading Economic Index Growth Rate -28.8% +3.8 percentage points
• Bloomberg US Recession Probability Next 12 Months 100.0% unch.

• Philly Fed ADS Real-Time Business Conditions Index -22.87 +5.76%

• US Economic Policy Uncertainty Index 866.86 +121.8%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 140.27 -.16%

• Citi US Economic Surprise Index -81.20 +14.1 points

• Citi Eurozone Economic Surprise Index -256.60 +44.0 points

• Citi Emerging Markets Economic Surprise Index -1.10 -6.7 points

• Fed Fund Futures imply 99.3% chance of no change, 0.0% chance of rate cut on 6/10

• US Dollar Index 99.79 -.59%

• MSCI Emerging Markets Currency Index 1,572.51 +.72%

• Bitcoin/USD 9,215.97 -.54%

• Euro/Yen Carry Return Index 121.63 +1.18%

• Yield Curve 48.5 +1.25 basis points
  

• 10-Year US Treasury Yield .66% +2.0 basis points

• Federal Reserve's Balance Sheet $6.999 Trillion +1.49%

• U.S. Sovereign Debt Credit Default Swap 19.53 -2.1%

• Illinois Municipal Debt Credit Default Swap 563.86 -.76%
  

• Italian/German 10Y Yld Spread 208.5 -31.0 basis points

• China Sovereign Debt Credit Default Swap 52.88 -.9%
  

• Brazil Sovereign Debt Credit Default Swap 307.46 -11.7%
  

• Israel Sovereign Debt Credit Default Swap 72.72 -2.47%

• South Korea Sovereign Debt Credit Default Swap 28.52 -14.7%

• Russia Sovereign Debt Credit Default Swap 130.49 -11.9%

• iBoxx Offshore RMB China Corporate High Yield Index 166.77 +1.33%

• 10-Year TIPS Spread 1.11% +2.0 basis points

• TED Spread 24.5 -3.25 basis points

• 2-Year Swap Spread 9.5 -.25 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap 8.50 +1.0 basis point

• N. America Investment Grade Credit Default Swap Index 87.14 -8.75%
  

• America Energy Sector High-Yield Credit Default Swap Index 1,182.0 -6.8%

• European Financial Sector Credit Default Swap Index 95.05 -13.9%
  

• Emerging Markets Credit Default Swap Index 311.01 -9.19%
  

• MBS 5/10 Treasury Spread 109.0 +2.0 basis points
• Markit CMBX BBB-6 63.50 +.79%

• M1 Money Supply $5.080 Trillion +1.4%

• Commercial Paper Outstanding 1,057.7 -.4%

• 4-Week Moving Average of Jobless Claims 3,042,000 -14.1%

• Continuing Claims Unemployment Rate 17.2% +150.0 basis points
  

• Average 30-Year Mortgage Rate 3.24% -4.0 basis points

• Weekly Mortgage Applications 727.10 -2.62%

• Bloomberg Consumer Comfort 34.7 -1.1 points

• Weekly Retail Sales -8.50% -100.0 basis points

• Nationwide Gas $1.94/gallon +.07/gallon

• Baltic Dry Index 494.0 +21.4%

• China (Export) Containerized Freight Index 836.64 +.29%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 32.50 -7.1%
• Truckstop.com Market Demand Index 29.55 +26.6%

• Rail Freight Carloads 231,700 +1.89%

Best Performing Style

• Small-Cap Value +8.6%

Worst Performing Style

• Large-Cap Growth +3.0%

Leading Sectors

• Airlines +17.8%

• Homebuilders +17.0%

• Oil Service +9.4%

• Road & Rail +9.0%

• Gaming +9.0%

Lagging Sectors

• Biotech +.8% 

• Shipping +.3%

• Foods -.6%

• Pharma -1.1%

• Gold & Silver -1.5%

Weekly High-Volume Stock Gainers (12)

• RAMP, MAXR, ELF, ATRA, SPLK, BHVN, INSG, DECK, GBX, TWLO, HOG and BJ

Weekly High-Volume Stock Losers (0)

• None of note

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Reversing Higher into Afternoon on Vaccine Hopes, Short-Covering, Technical Buying, Telecom/Homebuilding Sector Strength

 Broad Equity Market Tone:

• Advance/Decline Line: Modestly Lower
  

• Sector Performance: Mixed
  

• Volume: Below Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 28.9 -2.1%

• Euro/Yen Carry Return Index 121.57 -.5%

• Emerging Markets Currency Volatility(VXY) 10.95 +2.8%

• S&P 500 Implied Correlation 65.4 -1.8%

• ISE Sentiment Index 97.0 +29.0 points

• Total Put/Call .85 unch.

• NYSE Arms 1.27 +10.4%

Credit Investor Angst:

• North American Investment Grade CDS Index 86.95 +1.6%
  

• US Energy High-Yield OAS 1,065.41 -1.71%

• European Financial Sector CDS Index 94.61 +.28%

• Italian/German 10Y Yld Spread 208.50 -2.5 basis point
  

• Asia Ex-Japan Investment Grade CDS Index 107.43 +.86%
  

• Emerging Market CDS Index 311.01 +2.28%
  

• iBoxx Offshore RMB China Corporate High Yield Index 166.77 +.04%

• 2-Year Swap Spread 9.5 +.75 basis point

• TED Spread 24.75 -1.75 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -8.50 +.5 basis point
• MBS  5/10 Treasury Spread  108.0 +2.0 basis points
• IHS Markit CMBX BBB- 6 63.50 -.5 basis point

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 59.35 -.36%
• 3-Month T-Bill Yield .11% unch.

• Yield Curve 48.5 -.5 basis point

• China Iron Ore Spot 94.52 USD/Metric Tonne -.31%

• Citi US Economic Surprise Index -81.20 +.3 point

• Citi Eurozone Economic Surprise Index -251.60 +.5 point

• Citi Emerging Markets Economic Surprise Index -1.10 -.8 point

• 10-Year TIPS Spread 1.11 -2.0 basis points
• 99.3% chance of no change at July 29th meeting, 99.3% chance of no change at Sept. 16th meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating +157 open in Japan 
• China A50 Futures: Indicating +29 open in China

• DAX Futures: Indicating +40 open in Germany

Portfolio:

• Higher: On gains in my biotech/tech/medical/consumer staple sector longs and emerging market shorts

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

• Market Exposure: Moved to 75% Net Long

Bear Radar

Style Underperformer:

• Mid-Cap Value -.6%

Sector Underperformers:

• 1) Coal -7.2% 2) Oil Service -3.3% 3) Computer Hardware -2.1%

Stocks Falling on Unusual Volume: 

• BLFS, DAL, LUV, USCR, MNRL, RUSHA, UAL, QDEL, USFD, CWH, SLG, ROST, SONO, ROKU, AGYS, STT, BILL, BEAM, VVI, WYNN, BKE, BOOT, VIR, FL, ICPT and SNDX

Stocks With Unusual Put Option Activity:

• 1) EWH 2) FL 3) UA 4) DELL 5) ASHR

Stocks With Most Negative News Mentions:

• 1) LK 2) HPE 3) ICPT 4) UAL 5) ROKU

Charts:

• ETFs Falling on Unusual Volume
• Stocks Falling on Unusual Volume

Bull Radar

Style Outperformer:

• Mid-Cap Growth +.1%

Sector Outperformers:

• 1) REITs +.5% 2) Telecom +.5% 3) Internet +.5%

Stocks Rising on Unusual Volume:

• RAMP, MAXR, ELF, SPLK, BHVN, TWLO, INSG, BJ, DECK, APPN, AVTR, A, VTIQ, BOX, ATRA and PANW

Stocks With Unusual Call Option Activity:

• 1) OIH 2) SPLK 3) VUZI 4) HES 5) AMT

Stocks With Most Positive News Mentions:

• 1) SPLK 2) PDD 3) BJ 4) TWLO 5) DECK

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume

Morning Market Internals

NYSE Composite Index:

• Volume Running -11.9% Below 100-Day Average
• 2 Sectors Rising, 9 Sectors Declining
• 34.4% of Issues Advancing, 63.1% Declining
• 21 New 52-Week Highs, 7 New Lows
• 16.0% of Issues Above 200-day Moving Average
• Average 14-Day RSI 51.3%
• Vix 30.1 +1.8%
• Total Put/Call .87 +2.4%
• TRIN/Arms 1.63 +41.7%