Weekly Scoreboard*

 

S&P 500 4,130.1 -.2%

 

 

 

 

 

 

 

 

 

 

 

 

Weekly Market Wrap by Edward Jones.

Indices

• DJIA 33,759.6 -.29%

• NASDAQ 12,054.3 -.43%

• Russell 2000 1,791.06 +.58%

• NYSE FANG+ 5,940.43 -1.7% 
• Roundhill Meme Stock ETF 6.39 -3.0%
  

• Goldman 50 Most Shorted 138.83 -1.5%

• Wilshire 5000 41,221.5 -.08%

• Russell 1000 Growth 2,455.49 -.11%

• Russell 1000 Value 1,518.98 -.19%

• S&P 500 Consumer Staples 798.89 +1.7%

• MSCI Cyclicals-Defensives Spread 1,107.53 +.39%
  

• NYSE Technology 3,063.60 -1.1%

• Transports 14,415.7 +1.2%

• Utilities 969.12 +1.36%

• Bloomberg European Bank/Financial Services 81.5 -.94%
  

• MSCI Emerging Markets 39.06 -1.7%

• HFRX Equity Hedge 1,462.05 +.03%

• HFRX Equity Market Neutral 922.77 -.04%

Sentiment/Internals

• NYSE Cumulative A/D Line 457,262 -.62%
• Nasdaq/NYSE Volume Ratio 8.8 -4.3%

• Bloomberg New Highs-Lows Index -22 -219
  

• Crude Oil Commercial Bullish % Net Position -26.7 -21.6%

• CFTC Oil Net Speculative Position 235,632 +4.2%

• CFTC Oil Total Open Interest 1,875,140 +.90%

• Total Put/Call .88 -2.2%

• OEX Put/Call 1.38 -2.0%

• ISE Sentiment 107.0 +15.0 points
  

• NYSE Arms 1.16 +32.6%
  
• Bloomberg Global Risk-On/Risk-Off Index 57.5 +.88%
• Bloomberg US Financial Conditions Index .12 -8.0 basis points
• Bloomberg European Financial Conditions Index -4.28 -32.0 basis points
  

• Volatility(VIX) 16.7 -2.6%
• DJIA Intraday % Swing .50% -51.9%

• CBOE S&P 500 Implied Correlation Index 33.0 +2.6%

• G7 Currency Volatility (VXY) 8.81 -3.4%
  

• Emerging Markets Currency Volatility (EM-VXY) 10.0 -15.4%

• Smart Money Flow Index 13,536.6 +4.1%
• NAAIM Exposure Index  78.3 +19.6
  

• ICI Money Mkt Mutual Fund Assets $5.209 Trillion -1.3%

• ICI Domestic Equity Long-Term Mutual Fund/ETFs Weekly Flows +$2.506 Million

• AAII % Bulls 27.2 +4.2%

• AAII % Bears 35.1 +1.7%

Futures Spot Prices

• CRB Index 271.91 -1.6%

• Crude Oil 77.80/bbl. -5.9%

• Reformulated Gasoline 260.2 -8.2%

• Natural Gas 2.22 +5.3%
• Dutch TTF Nat Gas(European benchmark) 40.2 euros/megawatt-hour -2.4%
  

• Heating Oil 248.7 -6.0% 
• Newcastle Coal 190.0 (1,000/metric ton) -.2%
  

• Gold 1,979.40 -1.1%
• Silver 25.0 -1.2%
  

• S&P GSCI Industrial Metals Index 451.8 -.05%

• Copper 398.65 -3.2%

• US No. 1 Heavy Melt Scrap Steel 424.0 USD/Metric Tonne -1.4%

• China Iron Ore Spot 105.4 USD/Metric Tonne -10.1%

• Lumber  400.0 -4.7%

• UBS-Bloomberg Agriculture 1,576.20 -.65%
• US Gulf NOLA Potash Spot 375.0 USD/Short Ton unch.
  

Economy

• Atlanta Fed GDPNow 1Q Forecast +2.48% +31.0 basis points
  

• ECRI Weekly Leading Economic Index Growth Rate (graph)
  
• Bloomberg US Recession Probability Next 12 Months 65.0% unch.
  

• NY Fed Real-Time Weekly Economic Index 1.23 -22.6%

• US Economic Policy Uncertainty Index 95.4 +85.4%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 225.93 +.10:  Growth Rate +1.6% +.1 percentage point, P/E 18.3 -.1 
  
• S&P 500 Current Year Estimated Profit Margin 12.27% +1.0 basis point
  

• Citi US Economic Surprise Index 32.1 +1.1 points

• Citi Eurozone Economic Surprise Index 32.8 -15.6 points

• Citi Emerging Markets Economic Surprise Index 31.8 +4.0 points

• Fed Fund Futures imply 0.0%(unch.) chance of -25.0 basis point cut to 4.5-4.75%, 11.7%(-10.3 percentage points) chance of no change, 88.3%(+10.3 percentage points) chance of +25.0 basis point hike to 5.0-5.25% on 5/3
  

• US Dollar Index 101.74 +.15%

• MSCI Emerging Markets Currency Index 1,691.55 -.47%
  

• Bitcoin/USD 27,914.4 -7.9%

• Euro/Yen Carry Return Index 153.96 +.26%
  

• Yield Curve(2s/10s) -62.25 -4.75 basis points
  

• 10-Year US Treasury Yield 3.56% +4.0 basis points
  

• Federal Reserve's Balance Sheet $8.557 Trillion -.25% 
• Federal Reserve's Discount Window Usage $69.942 Billion +3.0%
  

• U.S. Sovereign Debt Credit Default Swap 54.35 +17.0%
  

• Illinois Municipal Debt Credit Default Swap 172.94 +1.7%
  

• Italian/German 10Y Yld Spread 187.0 +1.0 basis point
• UK Sovereign Debt Credit Default Swap 27.73 -.91%
  

• China Sovereign Debt Credit Default Swap 72.0 +5.2%
  

• Brazil Sovereign Debt Credit Default Swap 229.89 +6.0%
  

• Israel Sovereign Debt Credit Default Swap 61.7 -3.8%

• South Korea Sovereign Debt Credit Default Swap 45.6 +3.5%

• China Corp. High-Yield Bond USD ETF(KHYB) 26.8 -.57%

• Atlanta Fed Low Skill Wage Growth Tracker YoY +6.5% unch.
  
• Zillow US All Homes Rent Index YoY +6.0% unch.
  
• US Urban Consumers Food CPI YoY +8.5% unch.
  
• CPI Core Services Ex-Rents YoY 6.15% unch.
  
• Cleveland Fed Inflation Nowcast Core PCE YoY +4.58% unch.: CPI YoY +5.17% +5.0 basis points
  
• 10-Year TIPS Spread 2.28% -3.0 basis points

• TED Spread 20.0 -5.0 basis points
  
• 2-Year Swap Spread 27.75 -2.25 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -17.5 -2.5 basis points

• N. America Investment Grade Credit Default Swap Index 76.33 +2.9%
  

• America Energy Sector High-Yield Credit Default Swap Index 237.0 +4.0% 
• Bloomberg TRACE # Distressed Bonds Traded 423.0 +56
  

• European Financial Sector Credit Default Swap Index 96.39 +1.0%
• Deutsche Bank Subordinated 5Y Credit Default Swap 341.99 -9.3%

• Emerging Markets Credit Default Swap Index 241.49 +4.2%
  

• MBS 5/10 Treasury Spread 165.0 +6.0 basis points
  
• Bloomberg CMBS Investment Grade Bbb Average OAS 693.0 -1.0 basis point
• Avg. Auto ABS OAS .94 -1.0 basis point
  

• M2 Money Supply YoY % Change -2.4% unch.
  

• Commercial Paper Outstanding 1,161.3 +1.3%

• 4-Week Moving Average of Jobless Claims 239,750 -.21%
  

• Continuing Claims Unemployment Rate 1.3% +10.0 basis points
  
• Kastle Back-to-Work Barometer(entries in secured buildings) 46.3 -4.5%
  

• Average 30-Year Fixed Home Mortgage Rate 6.88% +8.0 basis points
  

• Weekly Mortgage Applications 209,200 -8.9%

• Weekly Retail Sales +1.3% -20.0 basis points
  
• OpenTable US Seated Diners % Change YoY -8.0% -6.0 percentage points
  
• Box Office Weekly Gross $252.8M +7.5%
  

• Nationwide Gas $3.68/gallon +.02/gallon

• Baltic Dry Index 1,432.0 -.21%

• China (Export) Containerized Freight Index 934.39 -.82%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 47.5 unch.
• Truckstop.com Market Demand Index 41.6 -4.9%

• Rail Freight Carloads 234,131 +3.8%
• TSA Total Traveler Throughput 2,510,568 +16.8%
  

Best Performing Style

• Small-Cap Growth +.3%
  

Worst Performing Style

• Large-Cap Value -.3%

Leading Sectors

• Homebuilding +6.1%

• Medical Equipment +4.1%
• Gambling +3.5%
  

• Road & Rail +2.5%
  

• Insurance +1.4%
  

Lagging Sectors

• Oil Service -4.0%
  

• Energy -4.0%
  

• Computer Hardware -4.6%

• Gold & Silver -5.5%
  

• Networking -6.4%
  

Weekly High-Volume Stock Gainers (32)

• EVCM, TMDX, SWAV, MSGE, DAWN, FDMT, LEGN, MBI, XPO, BJRI, ACLX, HCA, SGRY, AKRO, MIRM, HIMS, NOVA, S, THC, EHC, UHS, VIR, PG, CSX, SYM, LOVE, AMZN, LUNG, BAX, AXSM, HTH and VKTX
  

Weekly High-Volume Stock Losers (41)

• EVRI, JBHT, RF, MOS, SSL, INDB, SCCO, WSC, TSM, LMND, CLF, BHP, UBER, USB, FFIN, PTEN, AMR, SLB, VALE, FIBK, KEY, RIO, ATKR, TFC, ZION, FCX, MP, NSIT, ALV, AA, OSTK, GBCI, ALB, OCFC, XMTR, LTHM, WRB, EVBG, HSAI, ASUR and SQM
  

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Reversing Slightly Higher into Afternoon on US Economic "Soft-Landing" Hopes, Earnings Outlook Optimism, Short-Covering, Healthcare/Gambling Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Lower
  

• Sector Performance: Most Sectors Declining
  

• Volume: Below Average

• Market Leading Stocks: Underperforming
  

Equity Investor Angst:

• Volatility(VIX) 16.9 -1.3%
• DJIA Intraday % Swing .50%
  
• Bloomberg Global Risk On/Risk Off Index 57.2 +.3%

• Euro/Yen Carry Return Index 153.9 -.02%

• Emerging Markets Currency Volatility(VXY) 10.0 +.1%

• CBOE S&P 500 Implied Correlation Index 33.3 +3.3% 

• ISE Sentiment Index 119.0 +48.0 points
  

• Total Put/Call .87 -11.2%

• NYSE Arms 1.34 -17.3%

Credit Investor Angst:

• North American Investment Grade CDS Index 76.3 -.46%
  

• US Energy High-Yield OAS 376.51 -1.0%
• Bloomberg TRACE # Distressed Bonds Traded 423.0 +11
  

• European Financial Sector CDS Index 96.4 +.55% 
• Deutsche Bank Subordinated 5Y Credit Default Swap 352.12 +.8%
  

• Italian/German 10Y Yld Spread 187.0 basis basis points unch.
  

• Asia Ex-Japan Investment Grade CDS Index 127.8 +1.8%
  

• Emerging Market CDS Index 241.25 -.9%
  

• China Corp. High-Yield Bond USD ETF(KHYB) 26.83 -.06%

• 2-Year Swap Spread 27.75 basis points -.75 basis point
  

• TED Spread 20.75 basis points +.75 basis points
  

• 3-Month EUR/USD Cross-Currency Basis Swap -17.5 -2.75 basis points
  
• MBS  5/10 Treasury Spread 164.0 -1.0 basis point
  
• Bloomberg CMBS Investment Grade Bbb Average OAS 693.0 -1.0 basis point
  
• Avg. Auto ABS OAS 94.0 -1.0 basis point
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 47.6 -.07%
• 3-Month T-Bill Yield 5.05% -2.0 basis points
  

• China Iron Ore Spot 105.4 USD/Metric Tonne -2.5%
• Dutch TTF Nat Gas(European benchmark) 40.2 euros/megawatt-hour -1.0%

• Citi US Economic Surprise Index 32.1 +5.7 points

• Citi Eurozone Economic Surprise Index 32.8 -4.2 points
  

• Citi Emerging Markets Economic Surprise Index 31.8 unch.
  
• S&P 500 Blended Forward 12 Months Mean EPS Estimate 225.93 -.15:  Growth Rate +1.6% unch., P/E 18.3 -.1
  
• S&P 500 Current Year Estimated Profit Margin 12.27% +1.0 basis point
  
• Bloomberg US Financial Conditions Index .08 +1.0 basis point
• Bloomberg Euro-Zone Financial Conditions Index -4.28 -10.0 basis points
  
• US Yield Curve -62.0 basis points (2s/10s) -1.75 basis points
• US Atlanta Fed 1Q GDPNow Forecast +2.48% unch.
  

• Cleveland Fed Inflation Nowcast Core PCE YoY +4.58% unch.: CPI YoY +5.17% unch.
  
• 10-Year TIPS Spread 2.28 -1.0 basis point
  
• Highest target rate probability for June 14th FOMC meeting: 68.4%(+2.7 percentage points) chance of 5.0%-5.25%. Highest target rate probability for July 26th meeting: 60.5%(+3.3 percentage points) chance of 5.0%-5.25%.
  

Overseas Futures:

• Nikkei 225 Futures: Indicating +146 open in Japan 
• China A50 Futures: Indicating -22 open in China

• DAX Futures: Indicating +149 open in Germany

Portfolio:

• Higher:  On gains in my medical/utility 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:

• Small-Cap Value -.7%
  

Sector Underperformers:

• 1) Oil Service -2.1% 2) Regional Banks -2.0% 3) Electric Vehicles -1.8%

Stocks Falling on Unusual Volume: 

• NUE, TECK, VLO, MAG, LMND, JBHT, INDB, UBER, RF, TSM, WSC, MOS, SSL, OZK, BHP, SCCO, FIBK, FFIN, CLF, USB, KEY, ZIM, RIO, VALE, AMR, SLB, ATKR, MP, TFC, FCX, NSIT, ZION, ALV, MATX, AA, OSTK, GBCI, ALB, LTHM, EVBG, WRB, XMTR, ASUR and SQM
  

Stocks With Unusual Put Option Activity:

• 1) PZZA 2) QGEN 3) FLEX 4) LTHM 5) SQM
  

Stocks With Most Negative News Mentions:

• 1) BIG 2) ALB 3) EVBG 4) SQM 5) DISH
  

Charts:

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

Bull Radar

Style Outperformer:

• Small-Cap Growth +.1%
  

Sector Outperformers:

• Pharma +1.2% 2) Biotech +1.0% 3) Gambling +.8%

Stocks Rising on Unusual Volume:

• EVCM, TMDX, SWAV, LEGN, XPO, MBI, NOVA, HCA, PG and T
  

Stocks With Unusual Call Option Activity:

• 1) IGT 2) LOVE 3) VRNS 4) BJRI 5) SNN

Stocks With Most Positive News Mentions:

• 1) WISH 2) MULN 3) BWEN 4) XPO 5) WDFC
  

Charts:

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

Monday's Earnings/Economic Releases of Note; Market Movers

Earnings of Note 
Company/Estimate 

Before the Open: 

• (BOH)/1.23
• (KO)/.64
• (PHG)/.08
  

After the Close: 

• (AMP)/7.21
• (BRO)/.81
• (CDNS)/1.25
• (CNI)/1.72
• (CLF)/-.14
• (CCK)/1.05
• (FRC)/.51
• (PKG)/2.27
• (AAN)/.29
• (WHR)/2.15
  

Economic Releases

8:30 am EST

• The Chicago Fed National Activity Index for March.
  

10:30 am EST

• The Dallas Fed Manufacturing Activity Index for April.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The German IFO report and RE/MAX Global Commercial Symposium could also impact global trading on Monday.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

Morning Market Internals

NYSE Composite Index:

• Volume Running -13.0% Below 100-Day Average 
• Nasdaq/NYSE Volume Ratio 9.7 +.9
  
• 7 Sectors Declining, 3 Sectors Rising
• 34.4% of Issues Advancing, 62.3% Declining
• 40 New 52-Week Highs, 30 New Lows
• 43.7%(-1.7%) of Issues Above 200-day Moving Average
• Average 14-Day RSI 55.0 -5
  
• Bloomberg Global Risk-On/Risk-Off Index 57.2 +.2%
  
• Russell 1000: Growth/Value 15,821.4 -.06%
  
• Vix 17.4 +1.6%
• Total Put/Call .94 -4.1%
• TRIN/Arms 1.42 -12.4%