Weekly Scoreboard*

S&P 500 3,193.93 +4.91%

The Weekly Wrap by Briefing.com.

 
Indices

• DJIA 27,110.98 +6.81%

• NASDAQ 9,814.08 +3.42%

• Russell 2000 1,507.15 +8.11%

• S&P 500 High Beta 46.0 +20.9%

• Goldman 50 Most Shorted 145.84 +11.4%

• Wilshire 5000 32,538.05 +5.27%

• Russell 1000 Growth 1,913.61 +3.22%

• Russell 1000 Value 1,206.82 +7.52%

• S&P 500 Consumer Staples 617.24 +1.89%

• MSCI Cyclicals-Defensives Spread 1,191.17 +3.47%
  

• NYSE Technology 2,499.34 +3.70%

• Transports 9,872.96 +10.1%

• Utilities 826.52 +2.43%

• Bloomberg European Bank/Financial Services 56.72 +16.7%

• MSCI Emerging Markets 40.86 +6.06%

• HFRX Equity Hedge 1,183.69 +1.32%

• HFRX Equity Market Neutral 896.06 +.72%

Sentiment/Internals

• NYSE Cumulative A/D Line 407,277 +2.30%

• Bloomberg New Highs-Lows Index 196 +23

• Commercial Bullish % Net Position -44.0 -1.3%

• CFTC Oil Net Speculative Position 542,574 -.19%

• CFTC Oil Total Open Interest 2,135,678 -1.07%

• Total Put/Call .65 -29.4%

• OEX Put/Call 1.17 -8.56%

• ISE Sentiment 124.0 +10.0

• NYSE Arms .58 -66.08%

• Volatility(VIX) 24.52 -10.87%

• S&P 500 Implied Correlation 61.19 +.59%

• G7 Currency Volatility (VXY) 7.05 unch.
  

• Emerging Markets Currency Volatility (EM-VXY) 9.48 -12.6%

• Smart Money Flow Index 16,174.95 +2.22%

• ICI Money Mkt Mutual Fund Assets $4.788 Trillion unch.

• ICI Domestic Equity Mutual Fund/ETFs Weekly Flows +$1.612 Million

• AAII % Bulls 34.6 +4.5%

• AAII % Bears 38.9 -7.7%

Futures Spot Prices

• CRB Index 138.98 +5.09%

• Crude Oil 39.55 +11.98%

• Reformulated Gasoline 121.36 +13.0%

• Natural Gas 1.78 -3.15%

• Heating Oil 115.06 +15.41%

• Gold 1,683 -2.81%

• Bloomberg Base Metals Index 159.0 +4.43%

• Copper 255.55 +4.63%

• US No. 1 Heavy Melt Scrap Steel 263.0 USD/Metric Tonne +5.6%

• China Iron Ore Spot 98.5 USD/Metric Tonne +1.6%

• Lumber 368.80 +1.82%

• UBS-Bloomberg Agriculture 814.96 +3.57%

Economy

• Atlanta Fed GDPNow Forecast -53.8% -13.4 percentage points

• ECRI Weekly Leading Economic Index Growth Rate -22.1% +3.0 percentage points
• Bloomberg US Recession Probability Next 12 Months 100.0% unch.

• NY Fed Real-Time Weekly Economic Index -10.08 -7.7%

• US Economic Policy Uncertainty Index 224.34 -55.1%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 141.67 +.53%

• Citi US Economic Surprise Index 66.30 +121.4 points

• Citi Eurozone Economic Surprise Index -215.20 +60.4 points

• Citi Emerging Markets Economic Surprise Index 41.40 +21.8 points

• Fed Fund Futures imply 92.1% chance of no change, 7.9% chance of rate hike on 6/10

• US Dollar Index 99.79 -1.5%

• MSCI Emerging Markets Currency Index 1,591.33 +1.25%

• Bitcoin/USD 9,737.08 +2.59%

• Euro/Yen Carry Return Index 128.39 +3.63%

• Yield Curve 63.0 +12.5 basis points
  

• 10-Year US Treasury Yield .92% +26.0 basis points

• Federal Reserve's Balance Sheet $7.126 Trillion +.95%

• U.S. Sovereign Debt Credit Default Swap 18.41 -3.28%

• Illinois Municipal Debt Credit Default Swap 548.59 -.14%
  

• Italian/German 10Y Yld Spread 169.0 -23.25 basis points

• China Sovereign Debt Credit Default Swap 46.82 -17.1%
  

• Brazil Sovereign Debt Credit Default Swap 203.02 -28.5%
  

• Israel Sovereign Debt Credit Default Swap 69.57 -4.65%

• South Korea Sovereign Debt Credit Default Swap 22.88 -17.0%

• Russia Sovereign Debt Credit Default Swap 81.46 -31.21%

• iBoxx Offshore RMB China Corporate High Yield Index 169.12 +1.94%

• 10-Year TIPS Spread 1.26% +11.0 basis points

• TED Spread 17.0 -4.5 basis points

• 2-Year Swap Spread 9.0 -.25 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -14.0 -24.75 basis points

• N. America Investment Grade Credit Default Swap Index 65.16 -16.7%
  

• America Energy Sector High-Yield Credit Default Swap Index 1,021.0 -3.3%

• European Financial Sector Credit Default Swap Index 67.19 -21.1%
  

• Emerging Markets Credit Default Swap Index 288.54 -23.5%
  

• MBS 5/10 Treasury Spread 110.0 -8.0 basis points
• Markit CMBX BBB-6 69.0 +4.3%

• M1 Money Supply $5.098 Trillion +.66%

• Commercial Paper Outstanding 1,037.20 -1.3%

• 4-Week Moving Average of Jobless Claims 2,284,000 -12.5%

• Continuing Claims Unemployment Rate 14.8% -30.0 basis points
  

• Average 30-Year Mortgage Rate 3.18% +3.0 basis points

• Weekly Mortgage Applications 717.70 -3.86%

• Bloomberg Consumer Comfort 37.0 +1.5 points

• Weekly Retail Sales -7.50% unch.

• Nationwide Gas $2.00/gallon +.06/gallon

• Baltic Dry Index 632.0 +25.4%

• China (Export) Containerized Freight Index 841.18 +.23%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 32.5 -13.3%
• Truckstop.com Market Demand Index 39.61 +16.4%

• Rail Freight Carloads 215,741 -9.4%

Best Performing Style

• Small-Cap Value +12.7%

Worst Performing Style

• Large-Cap Growth +3.0%

Leading Sectors

• Airlines +45.5%

• Oil Service +26.4%

• Banks +19.4%

• Gaming +19.0%

• Energy +16.3%

Lagging Sectors

• Medical Equipment +1.1% 

• Software +.8%

• Pharma -.8%

• Biotech -1.9%

• Gold & Silver -6.9%

Weekly High-Volume Stock Gainers (38)

• OXY, SRG, RCL, NCLH, IHRT, ATRO, XHR, SPG, CUK, CCH, MAC, TRIP, MCS, NMIH, BA, SPWH, AAL, PK, SAVE, GTHX, UAL, HST, RUTH, SPR, JBLU, DAL, JWN, CSFL, WFC, AA, SCPL, SHO, ALK, LUV and WOR

Weekly High-Volume Stock Losers (9)

• CPB, IPHI, QDEL, NEM, APPN, EVBG, CLX, CUE and FSCT

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Soaring into Final Hour on Diminishing Global Recession Fears, Less European/Emerging Markets/US High-Yield Debt Angst, Oil Gain, Energy/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) 24.5 -5.0%

• Euro/Yen Carry Return Index 128.32 +.05%

• Emerging Markets Currency Volatility(VXY) 9.50 -3.0%

• S&P 500 Implied Correlation 58.2 -4.2%

• ISE Sentiment Index 145.0 +56.0 points

• Total Put/Call .62 -16.2%

• NYSE Arms .63 +12.5%

Credit Investor Angst:

• North American Investment Grade CDS Index 65.53 -9.8%
  

• US Energy High-Yield OAS 924.17 -2.76%

• European Financial Sector CDS Index 67.2 -9.1%

• Italian/German 10Y Yld Spread 169.0 -5.0 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 86.0 -6.3%
  

• Emerging Market CDS Index 223.40 -7.91%
  

• iBoxx Offshore RMB China Corporate High Yield Index 169.12 +.08%

• 2-Year Swap Spread 9.0 +1.25 basis points

• TED Spread 17.0 -2.0 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -14.0 -.75 basis point
• MBS  5/10 Treasury Spread  109.0 -4.0 basis points
• IHS Markit CMBX BBB- 6 69.0 unch.

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 61.80 +.53%
• 3-Month T-Bill Yield .15% +1.0 basis point

• Yield Curve 62.75 +7.5 basis points

• China Iron Ore Spot 99.0 USD/Metric Tonne +1.55%

• Citi US Economic Surprise Index 66.30 +58.0 points

• Citi Eurozone Economic Surprise Index -215.20 -5.4 points

• Citi Emerging Markets Economic Surprise Index 41.4 -1.0 point

• 10-Year TIPS Spread 1.26 +6.0 basis points
• 92.1% chance of no change at July 29th meeting, 92.1% chance of no change at Sept. 16th meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating +257 open in Japan 
• China A50 Futures: Indicating -18 open in China

• DAX Futures: Indicating -45 open in Germany

Portfolio:

• Higher: On gains in my biotech/tech/medical/industrial/consumer staple sector longs 

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

• Market Exposure: Moved to 75% Net Long