Weekly Scoreboard*

S&P 500 3,044.31 +3.25%

The Weekly Wrap by Briefing.com.

 
Indices

• DJIA 25,383.11 +3.71%

• NASDAQ 9,489.87 +2.21%

• Russell 2000 1,394.04 +3.45%

• S&P 500 High Beta 38.04 +4.82%

• Goldman 50 Most Shorted 130.91 +1.46%

• Wilshire 5000 30,910.10 +3.39%

• Russell 1000 Growth 1,853.96 +2.61%

• Russell 1000 Value 1,122.42 +4.38%

• S&P 500 Consumer Staples 605.78 +3.37%

• MSCI Cyclicals-Defensives Spread 1,162.43 -.36%
  

• NYSE Technology 2,410.24 +1.39%

• Transports 8,969.79 +6.1%

• Utilities 806.92 +7.02%

• Bloomberg European Bank/Financial Services 48.58 +7.85%

• MSCI Emerging Markets 37.74 +2.44%

• HFRX Equity Hedge 1,165.11 +.84%

• HFRX Equity Market Neutral 891.33 +1.95%

Sentiment/Internals

• NYSE Cumulative A/D Line 398,248 +1.24%

• Bloomberg New Highs-Lows Index 173 +82

• Commercial Bullish % Net Position -43.5 -7.79%

• CFTC Oil Net Speculative Position 543,603 +.48%

• CFTC Oil Total Open Interest 2,158,749 -3.97%

• Total Put/Call .96 +15.9%

• OEX Put/Call 1.23 +.14%

• ISE Sentiment 114.0 -19.0

• NYSE Arms 1.30 +21.7%

• Volatility(VIX) 28.23 -2.98%

• S&P 500 Implied Correlation 62.61 -3.68%

• G7 Currency Volatility (VXY) 7.05 -6.37%
  

• Emerging Markets Currency Volatility (EM-VXY) 10.86 -.64%

• Smart Money Flow Index 15,823.11 +.68%

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

• ICI Domestic Equity Mutual Fund/ETFs Weekly Flows -$8.121 Million

• AAII % Bulls 33.1 +14.0%

• AAII % Bears 42.1 -6.4%

Futures Spot Prices

• CRB Index 132.24 +1.22%

• Crude Oil 34.97 +3.66%

• Reformulated Gasoline 102.59 -2.18%

• Natural Gas 1.84 +7.27%

• Heating Oil 96.47 +.56%

• Gold 1,731.10 +.59%

• Bloomberg Base Metals Index 152.25 +1.65%

• Copper 244.50 +.85%

• US No. 1 Heavy Melt Scrap Steel 249.0 USD/Metric Tonne +.40%

• China Iron Ore Spot 96.40 USD/Metric Tonne +5.24%

• Lumber 367.90 -.78%

• UBS-Bloomberg Agriculture 786.87 +.41%

Economy

• Atlanta Fed GDPNow Forecast -40.4% +1.5 percentage points

• ECRI Weekly Leading Economic Index Growth Rate -25.1% +3.7 percentage points
• Bloomberg US Recession Probability Next 12 Months 100.0% unch.

• NY Fed Real-Time Weekly Economic Index -9.87 +1.6%

• US Economic Policy Uncertainty Index 458.25 -10.7%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 140.93 +.47%

• Citi US Economic Surprise Index -55.10 +26.1 points

• Citi Eurozone Economic Surprise Index -275.60 -19.0 points

• Citi Emerging Markets Economic Surprise Index 19.60 +20.7 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 -1.43%

• MSCI Emerging Markets Currency Index 1,571.67 +.33%

• Bitcoin/USD 9,410.55 +2.48%

• Euro/Yen Carry Return Index 124.03 +1.86%

• Yield Curve 50.5 +2.0 basis points
  

• 10-Year US Treasury Yield .66% unch.

• Federal Reserve's Balance Sheet $7.059 Trillion +.86%

• U.S. Sovereign Debt Credit Default Swap 19.76 +3.40%

• Illinois Municipal Debt Credit Default Swap 549.38 -2.57%
  

• Italian/German 10Y Yld Spread 192.25 +16.25 basis points

• China Sovereign Debt Credit Default Swap 57.34 +7.82%
  

• Brazil Sovereign Debt Credit Default Swap 286.30 -6.14%
  

• Israel Sovereign Debt Credit Default Swap 72.96 +.34%

• South Korea Sovereign Debt Credit Default Swap 27.56 -3.34%

• Russia Sovereign Debt Credit Default Swap 118.42 -9.25%

• iBoxx Offshore RMB China Corporate High Yield Index 165.90 -.52%

• 10-Year TIPS Spread 1.15% +4.0 basis points

• TED Spread 21.5 -3.0 basis points

• 2-Year Swap Spread 9.25 -.25 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap 10.75 +2.25 basis points

• N. America Investment Grade Credit Default Swap Index 79.0 -8.81%
  

• America Energy Sector High-Yield Credit Default Swap Index 1,156.0 -2.3%

• European Financial Sector Credit Default Swap Index 84.80 -10.78%
  

• Emerging Markets Credit Default Swap Index 288.54 -7.11%
  

• MBS 5/10 Treasury Spread 118.0 +9.0 basis points
• Markit CMBX BBB-6 66.13 +3.33%

• M1 Money Supply $5.066 Trillion -.26%

• Commercial Paper Outstanding 1,051.0 -.6%

• 4-Week Moving Average of Jobless Claims 2,608,000 -14.3%

• Continuing Claims Unemployment Rate 14.5% -270.0 basis points
  

• Average 30-Year Mortgage Rate 3.15% -9.0 basis points

• Weekly Mortgage Applications 746.50 +2.67%

• Bloomberg Consumer Comfort 35.5 +.8 point

• Weekly Retail Sales -7.50% +100.0 basis points

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

• Baltic Dry Index 489.0 -1.01%

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

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 37.50 +15.4%
• Truckstop.com Market Demand Index 34.01 +15.1%

• Rail Freight Carloads 238,076 +2.75%

Best Performing Style

• Mid-Cap Value +4.2%

Worst Performing Style

• Large-Cap Growth +1.6%

Leading Sectors

• Banks +8.2%

• Utilities +6.2%

• REITs +6.1%

• Defense +5.9%

• Industrials +5.3%

Lagging Sectors

• Social Media -1.3% 

• Energy -1.6%

• Video Gaming -1.6%

• Gold & Silver -3.2%

• Coal -7.7%

Weekly High-Volume Stock Gainers (10)

• WSM, VMW, DELL, BIG, OLLI, MRSN, ACLS, DG, FEYE and SNAP

Weekly High-Volume Stock Losers (2)

• IOVA and DXC

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Slightly Lower into Final Hour on China Tensions, Global Recession Fears, European Debt Angst, Energy/Financial Sector Weakness

 Broad Equity Market Tone:

• Advance/Decline Line: Lower
  

• Sector Performance: Most Sectors Declining
  

• Volume: Around Average

• Market Leading Stocks: Underperforming

Equity Investor Angst:

• Volatility(VIX) 29.8 +4.1%

• Euro/Yen Carry Return Index 124.11 +.39%

• Emerging Markets Currency Volatility(VXY) 10.86 +.18%

• S&P 500 Implied Correlation 66.1 +8.1%

• ISE Sentiment Index 99.0 -22.0 points

• Total Put/Call .96 +12.9%

• NYSE Arms 1.55 -28.9%

Credit Investor Angst:

• North American Investment Grade CDS Index 80.22 +2.7%
  

• US Energy High-Yield OAS 1,022.32 +.48%

• European Financial Sector CDS Index 85.28 +6.83%

• Italian/German 10Y Yld Spread 192.25 +7.75 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 102.08 +1.53%
  

• Emerging Market CDS Index 290.25 -.31%
  

• iBoxx Offshore RMB China Corporate High Yield Index 165.90 -.32%

• 2-Year Swap Spread 9.25 +.25 basis point

• TED Spread 21.75 -2.0 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -10.75 +.75 basis point
• MBS  5/10 Treasury Spread  116.0 unch.
• IHS Markit CMBX BBB- 6 66.25 +1.0 basis point

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 60.07 +.14%
• 3-Month T-Bill Yield .13% -1.0 basis point

• Yield Curve 50.5 -.25 basis point

• China Iron Ore Spot 96.47 USD/Metric Tonne +.50%

• Citi US Economic Surprise Index -55.10 +.6 point

• Citi Eurozone Economic Surprise Index -275.60 +3.4 points

• Citi Emerging Markets Economic Surprise Index 19.6 +6.4 points

• 10-Year TIPS Spread 1.17 -1.0 basis point
• 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 -52 open in Japan 
• China A50 Futures: Indicating -121 open in China

• DAX Futures: Indicating +9 open in Germany

Portfolio:

• Slightly Lower: On losses in my industrial sector longs and emerging market shorts

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

• Market Exposure: Moved to 25% Net Long