Weekly Scoreboard*

S&P 500 3,020.25 -6.1%

The Weekly Wrap by Briefing.com.

 
Indices

• DJIA 25.517.80 -6.5%

• NASDAQ 9,557.68 -3.07%

• Russell 2000 1,365.93 -9.7%

• S&P 500 High Beta 40.5 -12.4%

• Goldman 50 Most Shorted 136.60 -7.0%

• Wilshire 5000 30,777.40 -5.8%

• Russell 1000 Growth 1,840.30 -4.3%

• Russell 1000 Value 1,110.32 -8.38%

• S&P 500 Consumer Staples 592.47 -4.35%

• MSCI Cyclicals-Defensives Spread 1,209.71 +.3%
  

• NYSE Technology 2,427.21 -3.27%

• Transports 9,013.80 -9.11%

• Utilities 792.42 -4.33%

• Bloomberg European Bank/Financial Services 51.41 -9.4%

• MSCI Emerging Markets 39.83 -2.69%

• HFRX Equity Hedge 1,195.67 +.69%

• HFRX Equity Market Neutral 900.97 -.66%

Sentiment/Internals

• NYSE Cumulative A/D Line 402,861 -.61%

• Bloomberg New Highs-Lows Index 41 -155

• Crude Oil Commercial Bullish % Net Position -45.72 -3.84%

• CFTC Oil Net Speculative Position 568,330 +4.75%

• CFTC Oil Total Open Interest 2,127,664 -.38%

• Total Put/Call .98 +49.2%

• OEX Put/Call 1.17 -3.02%

• ISE Sentiment 76.0 -48.0

• NYSE Arms .52 -10.3%

• Volatility(VIX) 40.39 +68.6%

• S&P 500 Implied Correlation 73.84 +24.0%

• G7 Currency Volatility (VXY) 8.24 +16.9%
  

• Emerging Markets Currency Volatility (EM-VXY) 10.0 +5.49%

• Smart Money Flow Index 15,580.64 -3.67%

• ICI Money Mkt Mutual Fund Assets $4.718 Trillion -.72%

• ICI Domestic Equity Mutual Fund/ETFs Weekly Flows -$5.906 Million

• AAII % Bulls 34.3 -.78%

• AAII % Bears 38.1 -2.1%

Futures Spot Prices

• CRB Index 134.32 -3.36%

• Crude Oil 36.30 -7.01%

• Reformulated Gasoline 112.59 -6.31%

• Natural Gas 1.73 -3.33%

• Heating Oil 110.56 -2.76%

• Gold 1,737.80 +2.89%

• Bloomberg Base Metals Index 161.55 +1.6%

• Copper 260.15 -2.16%

• US No. 1 Heavy Melt Scrap Steel 265.0 USD/Metric Tonne +.76%

• China Iron Ore Spot 102.7 USD/Metric Tonne +.4%

• Lumber 355.0 -3.53%

• UBS-Bloomberg Agriculture 805.31 -1.18%

Economy

• Atlanta Fed GDPNow Forecast -48.5% +5.3 percentage points

• ECRI Weekly Leading Economic Index Growth Rate -18.5% +3.6 percentage points
• Bloomberg US Recession Probability Next 12 Months 100.0% unch.

• NY Fed Real-Time Weekly Economic Index -10.0 -4.2%

• US Economic Policy Uncertainty Index 219.80 -22.3%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 142.21 +.38%

• Citi US Economic Surprise Index 82.20 +15.9 points

• Citi Eurozone Economic Surprise Index -215.90 -.7 point

• Citi Emerging Markets Economic Surprise Index 20.90 -20.5 points

• Fed Fund Futures imply 100.0% chance of no change, 0.0% chance of rate hike on 7/29

• US Dollar Index 97.42 +.4%

• MSCI Emerging Markets Currency Index 1,601.88 +.09%

• Bitcoin/USD 9,314.91 -3.38%

• Euro/Yen Carry Return Index 125.05 -2.54%

• Yield Curve 50.0 -13.0 basis points
  

• 10-Year US Treasury Yield .68% -24.0 basis points

• Federal Reserve's Balance Sheet $7.130 Trillion +.06%

• U.S. Sovereign Debt Credit Default Swap 17.75 -2.85%

• Illinois Municipal Debt Credit Default Swap 435.04 -20.7%
  

• Italian/German 10Y Yld Spread 188.75 +19.75 basis points

• China Sovereign Debt Credit Default Swap 50.75 +6.1%
  

• Brazil Sovereign Debt Credit Default Swap 264.75 +26.4%
  

• Israel Sovereign Debt Credit Default Swap 63.20 -9.2%

• South Korea Sovereign Debt Credit Default Swap 26.95 +17.8%

• Russia Sovereign Debt Credit Default Swap 91.82 +12.7%

• iBoxx Offshore RMB China Corporate High Yield Index 169.06 -.04%

• 10-Year TIPS Spread 1.19% -7.0 basis points

• TED Spread 15.25 -1.75 basis points

• 2-Year Swap Spread 7.75 -1.25 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -15.75 -1.75 basis points

• N. America Investment Grade Credit Default Swap Index 80.89 +22.9%
  

• America Energy Sector High-Yield Credit Default Swap Index 1,059.0 +3.67%

• European Financial Sector Credit Default Swap Index 81.67 +21.6%
  

• Emerging Markets Credit Default Swap Index 271.52 +20.49%
  

• MBS 5/10 Treasury Spread 105.0 -5.0 basis points
• Markit CMBX BBB-6 72.0 -.18%

• M1 Money Supply $5.047 Trillion -.99%

• Commercial Paper Outstanding 1,028.1 -1.3%

• 4-Week Moving Average of Jobless Claims 2,002,000 -12.5%

• Continuing Claims Unemployment Rate 14.4% -40.0 basis points
  

• Average 30-Year Mortgage Rate 3.21% +3.0 basis points

• Weekly Mortgage Applications 784.50 +9.31%

• Bloomberg Consumer Comfort 38.7 +1.7 points

• Weekly Retail Sales -9.7% -220.0 basis points

• Nationwide Gas $2.10/gallon +.10/gallon

• Baltic Dry Index 839.0 +23.6%

• China (Export) Containerized Freight Index 841.18 unch.

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 32.5 unch.
• Truckstop.com Market Demand Index 47.11 +18.9%

• Rail Freight Carloads 240,677 +11.6%

Best Performing Style

• Large-Cap Growth -3.7%

Worst Performing Style

• Small-Cap Value -10.4%

Leading Sectors

• Video Gaming unch.

• Gold & Silver -.3%

• Software -1.3%

• Social Media -1.6%

• Internet -3.4%

Lagging Sectors

• Steel -10.5% 

• Energy -12.0%

• Banks -12.4%

• Airlines -13.2%

• Oil Service -14.4%

Weekly High-Volume Stock Gainers (3)

• NKLA, BILL and ADBE

Weekly High-Volume Stock Losers (13)

• CRNC, XNCR, CNST, EQM, NXTC, INGN, VIAC, FCN, AKCA, CDLX, EPZM, OKE and PVH

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Reversing Slightly Lower into Final Hour on Coronavirus 2nd Wave Fears, Biden Presidency Odds Surge, Global Recession Worries, Retail/Healthcare Sector Weakness

 Broad Equity Market Tone:

• Advance/Decline Line: About Even
  

• Sector Performance: Mixed
  

• Volume: Around Average

• Market Leading Stocks: Performing In Line

Equity Investor Angst:

• Volatility(VIX) 43.3 +6.1%

• Euro/Yen Carry Return Index 125.07 -.11%

• Emerging Markets Currency Volatility(VXY) 10.0 +2.35%

• S&P 500 Implied Correlation 82.0 +6.2%

• ISE Sentiment Index 75.0 -11.0 points

• Total Put/Call .94 -7.84%

• NYSE Arms .71 -75.1%

Credit Investor Angst:

• North American Investment Grade CDS Index 81.14 +.75%
  

• US Energy High-Yield OAS 958.97 +1.0%

• European Financial Sector CDS Index 81.67 -1.53%

• Italian/German 10Y Yld Spread 188.75 -3.75 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 90.99 +3.12%
  

• Emerging Market CDS Index 271.50 -1.45%
  

• iBoxx Offshore RMB China Corporate High Yield Index 169.06 +.14%

• 2-Year Swap Spread 7.75 +.5 basis point

• TED Spread 15.25 +.75 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -15.75-1.25 basis points
• MBS  5/10 Treasury Spread  105.0 -1.0 basis point
• IHS Markit CMBX BBB- 6 72.0 -1.25 basis points

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 60.83 -.30%
• 3-Month T-Bill Yield .16% -1.0 basis point

• Yield Curve 50.25 -3.25 basis points

• China Iron Ore Spot 102.15 USD/Metric Tonne +1.13%

• Citi US Economic Surprise Index 82.20 +7.5 points

• Citi Eurozone Economic Surprise Index -215.90 +4.3 points

• Citi Emerging Markets Economic Surprise Index 20.9 -5.9 points

• 10-Year TIPS Spread 1.19 -2.0 basis points
• 100.0% chance of no change at Sept. 16 meeting, 100.0% chance of no change at Nov. 5th meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating -110 open in Japan 
• China A50 Futures: Indicating -141 open in China

• DAX Futures: Indicating -73 open in Germany

Portfolio:

• Slightly Higher: On gains in my medical/tech sector longs and index hedges

• Disclosed Trades: Added to my (IWM)/(QQQ) hedges

• Market Exposure: Moved to 25% Net Long

Bear Radar

Style Underperformer:

• Large-Cap Growth +1.1%

Sector Underperformers:

• 1) Coal -1.3% 2) Paper -.7% 3) Shipping -.3%

Stocks Falling on Unusual Volume: 

• INGN, SGMO, EPZM, AGIO, EQM, RETA, XNCR, CRNC, SWBI, AKCA, OKE, ZYXI, VIE, PVH and CNST

Stocks With Unusual Put Option Activity:

• 1) OKE 2) MTDR 3) AMGN 4) EWY 5) VNO

Stocks With Most Negative News Mentions:

• 1) SELB 2) PVH 3) TSLA 4) SBUX  5) UAL

Charts:

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

Bull Radar

Style Outperformer:

• Small-Cap Value +2.4%

Sector Outperformers:

• 1) Airlines +8.8% 2) Oil Service +3.9% 3) Steel +3.5%

Stocks Rising on Unusual Volume:

• PRSP, AAL, TGI, NCLH, UAL, SAVE, PLAY, BA, CCXI, NKLA and ADBE

Stocks With Unusual Call Option Activity:

• 1) PUMP 2) MITT 3) UUP 4) VIRT 5) BG

Stocks With Most Positive News Mentions:

• 1) SAVE 2) UAL 3) F 4) BLK 5) CAT

Charts:

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

Morning Market Internals

NYSE Composite Index:

• Volume Running +14.7% Above 100-Day Average
• 8 Sectors Rising, 3 Sectors Declining
• 68.7% of Issues Advancing, 29.3% Declining
• 10 New 52-Week Highs, 1 New Low
• 18.6% of Issues Above 200-day Moving Average
• Average 14-Day RSI 48.2%
• Vix 42.5 +4.0%
• Total Put/Call .83 -18.6%
• TRIN/Arms .71 -72.6%