Friday, September 17, 2021

Evening Headlines

Bloomberg:                      

Wall Street Journal:  
CNBC:
IG:
MarketWatch.com:             
AP:
Fox News:    
Newsmax:      
Reuters:
  • South Africa has administered at least 14,670,161 doses of COVID vaccines so far. Assuming every person needs 2 doses, that’s enough to have vaccinated about 12.5% of the country’s population. COVID-19 infections are decreasing in South Africa, with 4,019 new infections reported on average each day(48 infections per 100K people reported last 7 days). That’s 20% of the peak — the highest daily average reported on July 7.
  • Israel has administered at least 14,607,688 doses of COVID vaccines so far. Assuming every person needs 2 doses, that’s enough to have vaccinated about 80.7% of the country’s population. Israel is reporting 8,429 new infections on average each day(651 infections per 100K people reported last 7 days), 78% of the peak — the highest daily average reported on September 13.
Zero Hedge:
TheGatewayPundit.com:
The Epoch Times:

Weekly Scoreboard*


S&P 500 4,434.55 -.67%*


 

 

 

 

 

 

 

 

 

 

 

 

The Weekly Wrap by Briefing.com. 

Indices
  • DJIA 34,574.21 -.07%
  • NASDAQ 15,024.32 -.62%
  • Russell 2000 2,221.84 -.32%
  • S&P 500 High Beta 73.70 +.35%
  • Goldman 50 Most Shorted 323.35 -1.3%
  • Wilshire 5000 45,966.85 -.47%
  • Russell 1000 Growth 2,874.65 -.74%
  • Russell 1000 Value 1,565.81 -.48%
  • S&P 500 Consumer Staples 740.22 -.61%
  • MSCI Cyclicals-Defensives Spread 1,430.68 +.47%
  • NYSE Technology 4,272.13 -.75%
  • Transports 14,294.30 -.61%
  • Utilities 910.45 -1.9%
  • Bloomberg European Bank/Financial Services 73.57 +1.4%
  • MSCI Emerging Markets 51.30 -2.11%
  • HFRX Equity Hedge 1,470.61 +.37%
  • HFRX Equity Market Neutral 929.03 +.25%
Sentiment/Internals
  • NYSE Cumulative A/D Line 478,632 -.19%
  • Bloomberg New Highs-Lows Index -30 -141
  • Crude Oil Commercial Bullish % Net Position -34.1 +3.7%
  • CFTC Oil Net Speculative Position 349,158 -2.1%
  • CFTC Oil Total Open Interest 2,107,706 +1.6%
  • Total Put/Call .96 -2.1%
  • OEX Put/Call 2.06 +17.0%
  • ISE Sentiment 93.0 -6.0 point
  • NYSE Arms 1.2 -20.9
  • Bloomberg Global Risk-On/Risk-Off Index 2,952.0 -129.0 points
  • Bloomberg Financial Conditions Index + Bubbles 5.56 -1.8% 
  • Volatility(VIX) 20.8 +.4%
  • S&P 500 Implied Correlation 56.7 +.7%
  • G7 Currency Volatility (VXY) 5.9 +2.4%
  • Emerging Markets Currency Volatility (EM-VXY) 8.7 +1.5%
  • Smart Money Flow Index 14,567.39 -.11%
  • ICI Money Mkt Mutual Fund Assets $4.465 Trillion -.9%
  • ICI Domestic Equity Long-Term Mutual Fund/ETFs Weekly Flows +1.822 Million
  • AAII % Bulls 22.4 -42.4%
  • AAII % Bears 39.3 +44.5%
Futures Spot Prices
  • CRB Index 223.94 +1.6%
  • Crude Oil 71.90 +2.7%
  • Reformulated Gasoline 217.31 +.7%
  • Natural Gas 5.11 +4.0%
  • Heating Oil 220.69 +2.7%
  • Gold 1,752.07 -2.1%
  • Silver 22.38 -5.8%
  • S&P GSCI Industrial Metals Index 485.16 -2.7%
  • Copper 424.40 -4.3%
  • US No. 1 Heavy Melt Scrap Steel 442.0 USD/Metric Tonne -.9%
  • China Iron Ore Spot 99.60 USD/Metric Tonne -18.4%
  • Lumber 635.90 +4.8%
  • UBS-Bloomberg Agriculture 1,273.12 +1.0%
  • US Gulf NOLA Potash Spot 605.0 USD/Short Ton +.83%
Economy
  • Atlanta Fed GDPNow Forecast +3.7% unch.
  • ECRI Weekly Leading Economic Index Growth Rate n/a
  • Bloomberg US Recession Probability Next 12 Months 10.0% unch.
  • NY Fed Real-Time Weekly Economic Index +7.84 -6.2%
  • US Economic Policy Uncertainty Index 44.3 -55.4%
  • S&P 500 Blended Forward 12 Months Mean EPS Estimate 214.87 +.14%
  • Citi US Economic Surprise Index -45.3 +14.1 points
  • Citi Eurozone Economic Surprise Index -19.2 -1.9 points
  • Citi Emerging Markets Economic Surprise Index 5.1 -10.3 points
  • Fed Fund Futures imply 100.0% chance of no change, 0.0% chance of rate hike on 9/22
  • US Dollar Index 93.20 +.61%
  • MSCI Emerging Markets Currency Index 1,735.50 -.19%
  • Bitcoin/USD 46,910 +4.6%
  • Euro/Yen Carry Return Index 133.10 -.16%
  • Yield Curve 112.0 +3.0 basis points
  • 10-Year US Treasury Yield 1.37% +3.0 basis points
  • Federal Reserve's Balance Sheet $8.410 Trillion +1.1%
  • U.S. Sovereign Debt Credit Default Swap 13.01 +30.7%
  • Illinois Municipal Debt Credit Default Swap 121.50 -1.7%
  • Italian/German 10Y Yld Spread 100.0 -3.0 basis points
  • China Sovereign Debt Credit Default Swap 36.15 +9.7%
  • Brazil Sovereign Debt Credit Default Swap 180.45 +1.1%
  • Israel Sovereign Debt Credit Default Swap 40.05 -1.6%
  • South Korea Sovereign Debt Credit Default Swap 17.7 -.29%
  • Russia Sovereign Debt Credit Default Swap 76.67 +.95%
  • China Corp. High-Yield Bond USD ETF(KHYB) 37.59 -2.3%
  • 10-Year TIPS Spread 2.35% -6.0 basis points
  • TED Spread 9.0 +1.5 basis points
  • 2-Year Swap Spread 11.0 +1.0 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -3.75 -.25 basis point
  • N. America Investment Grade Credit Default Swap Index 46.69 -1.3%
  • America Energy Sector High-Yield Credit Default Swap Index 300.0 -2.7%
  • European Financial Sector Credit Default Swap Index 50.96 -.67%
  • Emerging Markets Credit Default Swap Index 154.83 +2.1%
  • MBS 5/10 Treasury Spread 73.75 +1.0 basis points
  • Markit CMBX BBB-6 71.75 -.5 basis point
  • M2 Money Supply YoY % Change 12.1 unch.
  • Commercial Paper Outstanding 1,181.90 +1.7%
  • 4-Week Moving Average of Jobless Claims 335,750 -1.25%
  • Continuing Claims Unemployment Rate 1.9% -10.0 basis points
  • Average 30-Year Mortgage Rate 2.86% -2.0 basis points
  • Weekly Mortgage Applications 707,900 +.33%
  • Langer Consumer Comfort 57.7 -.2 point
  • Weekly Retail Sales +15.9% -.6 percentage point
  • Nationwide Gas $3.19/gallon +.01/gallon
  • Baltic Dry Index 4,215 +9.1%
  • China (Export) Containerized Freight Index 3,157.60 n/a
  • Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 17.5 unch.
  • Truckstop.com Market Demand Index 133.42 -4.0%
  • Rail Freight Carloads 244,900 -8.0%
  • US Covid-19:  327 infections/100K people(last 7 days total) +3/100K people
  • US Covid-19:  61% of Jan. 7th,2021 peak unch.
Best Performing Style
  • Small-Cap Growth -.2%
Worst Performing Style
  • Large-Cap Growth -.7%
Leading Sectors
  • Energy +3.8%
  • Airlines +2.9%
  • Healthcare Providers +2.1%
  • Oil Service +1.7%
  • Retail +1.4%
Lagging Sectors
  • Social Media -3.4%
  • Gold & Silver -3.9%
  • Papers -5.5%
  • Gambling -5.5%
  • Steel -8.1%
Weekly High-Volume Stock Gainers (28)
  • LCID, MTTR, AGFY, ORIC, CHRS, STEM, VLTA, OSUR, UPWK, IVZ, CRC, RDFN, MUSA, OSTK, RVP, ESPR, UPST, BRG, TASK, SWI, AMEH, SSP, GDRX, SLQT, JOAN and FANG
Weekly High-Volume Stock Losers (9)
  • FCX, ANGO, IFF, NUE, IMPL, NEWT, MGNX, X and TCRR
ETFs
Stocks
*5-Day Change

Stocks Falling into Afternoon on Tax Hike Fears, China Debt Bubble Bursting Worries, Labor/Product Shortage Concerns, Tech/Commodity Sector Weakness

Broad Equity Market Tone:
  • Advance/Decline Line: Lower
  • Sector Performance: Most Sectors Declining
  • Volume: Around Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 20.6 +10.4%
  • Bloomberg Global Risk On/Risk Off Index 2,976.0 -37.0 points
  • Euro/Yen Carry Return Index 133.14 -.13%
  • Emerging Markets Currency Volatility(VXY) 8.7 +1.6%.
  • S&P 500 Implied Correlation 55.3 +1.2%
  • ISE Sentiment Index 92.0  -23.0 points
  • Total Put/Call .95 +14.5%
  • NYSE Arms 1.19 -11.9%
Credit Investor Angst:
  • North American Investment Grade CDS Index 46.70 +1.2%
  • US Energy High-Yield OAS 376.38 -.76%
  • European Financial Sector CDS Index 50.96 +.8%
  • Italian/German 10Y Yld Spread 100.0 +.5 basis point
  • Asia Ex-Japan Investment Grade CDS Index 71.52 +6.5%
  • Emerging Market CDS Index 155.06 +.78%
  • China Corp. High-Yield Bond USD ETF(KHYB) 37.59 -.58%
  • 2-Year Swap Spread 11.0 +.25 basis point
  • TED Spread 9.0 +.75 basis point
  • 3-Month EUR/USD Cross-Currency Basis Swap -3.75 +.75 basis point
  • MBS  5/10 Treasury Spread  73.75 -.5 basis point
  • IHS Markit CMBX BBB- 6 71.75 -.5 basis point
Economic Gauges:
  • Bloomberg Emerging Markets Currency Index 59.61 -.55%
  • 3-Month T-Bill Yield .03% unch.
  • Yield Curve 112.0 +3.0 basis points
  • China Iron Ore Spot 99.60 USD/Metric Tonne -1.7%
  • Citi US Economic Surprise Index -45.3 -.7 point
  • Citi Eurozone Economic Surprise Index -19.2 -.7 point
  • Citi Emerging Markets Economic Surprise Index 5.1 -1.2 points
  • 10-Year TIPS Spread 2.35 -1.0 basis point
  • 100.0% chance of no change at Nov. 3rd meeting, 100.0% chance of no change at Dec. 15th meeting
US Covid-19:
  • 327 new infections/100K people(last 7 days total) -1/100K people
  • 61% of Jan. 7th, 2021 peak(highest daily avg. new infections) -1.0 percentage point
Overseas Futures:
  • Nikkei 225 Futures: Indicating -375 open in Japan 
  • China A50 Futures: Indicating -59 open in China
  • DAX Futures: Indicating -15 open in Germany
Portfolio:
  • Slightly Lower: On losses in my biotech/industrial/tech sector longs,
  • Disclosed Trades: Added to my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 50% Net Long

Bear Radar

 Style Underperformer:

  • Large-Cap Growth -1.0%
Sector Underperformers:
  • 1) Steel -3.1% 2) Oil Service -2.2% 3) Gold & Silver -1.6%
Stocks Falling on Unusual Volume: 
  • OTIS, NGM, FUSE, IMPL, DOCN, IFF, S, MGNX, X, GRTS, IRNT, OPAD, TCRR and PTGX
Stocks With Unusual Put Option Activity:
  • 1) APRN 2) EWT 3) DISCK 4) CAR 5) TMO
Stocks With Most Negative News Mentions:
  • 1) CREE 2) CRUS 3) DOW 4) SNPS 5) SNA
Charts: