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IBD:
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Welt am Sonntag:
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Hexun:
Sunday's Zaman:
Weekend Recommendations
Barron's:
Citigroup:
Night Trading
- Asian indices are . to +% on average.
- Asia Ex-Japan Investment Grade CDS Index 144.0 .
- Asia Pacific Sovereign CDS Index 111.0 basis point.
Morning Preview Links
Earnings of Note
Company/Estimate
- (WWW)/.20
- (GPC)/.91
- (CPLA)/.77
- (DUK)/.95
- (MDT)/.91
- (KO)/.46
- (OII)/.84
- (PNRA)/1.94
- (TEX)/.49
- (FLS)/1.05
- (CRMT)/.70
- (FLR)/.98
- (CF)/4.41
- (ADI)/.49
Economic Releases
8:30 am EST
- Empire Manufacturing for February is estimated to fall to 9.0 versus 12.51 in January.
9:00 am EST
- Net Long-Term TIC Flows for December are estimated at $30.0B versus -$29.3B in November.
10:00 am EST
- The NAHB Housing Market Index for February is estimated at 56 versus 56 in January.
Upcoming Splits
- (ANDE) 3-for-2
- (OTEX) 2-for-1
Other Potential Market Movers
- The Reserve Bank of Australia minutes, BoJ decision, German ZEW Index and UK inflation data could also impact trading today.
BOTTOM LINE: Asian indices are mostly higher, boosted by consumer and real estate shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the week.
S&P 500 1,805.75 +.55%*
The Weekly Wrap by Briefing.com.
*5-Day Change
Indices
- Russell 2000 1,142.89 +2.08%
- S&P 500 High Beta 29.40 +.77%
- Wilshire 5000 18,947.90 +.67%
- Russell 1000 Growth 840.95 +1.10%
- Russell 1000 Value 906.51 unch.
- S&P 500 Consumer Staples 441.58 -.02%
- Morgan Stanley Cyclical 1,432.60 +1.39%
- Morgan Stanley Technology 867.77 +1.16%
- Transports 7,235.69 +.87%
- Bloomberg European Bank/Financial Services 106.88 +2.25%
- MSCI Emerging Markets 42.20 +1.07%
- HFRX Equity Hedge 1,147.54 +.37%
- HFRX Equity Market Neutral 949.60 -.02%
Sentiment/Internals
- NYSE Cumulative A/D Line 195,776 +1.48%
- Bloomberg New Highs-Lows Index 615 +466
- Bloomberg Crude Oil % Bulls 31.03 n/a
- CFTC Oil Net Speculative Position 313,160 n/a
- CFTC Oil Total Open Interest 1,620,640 n/a
- Total Put/Call .80 -14.89%
- ISE Sentiment 164.0 +13.89%
- Volatility(VIX) 13.69 +8.61%
- S&P 500 Implied Correlation 54.37 -3.83%
- G7 Currency Volatility (VXY) 8.21 +1.73%
- Emerging Markets Currency Volatility (EM-VXY) 8.83 +2.79%
- Smart Money Flow Index 12,086.81 +.61%
- ICI Money Mkt Mutual Fund Assets $2.678 Trillion +.57%
- ICI US Equity Weekly Net New Cash Flow $3.973 Billion -26.9%
Futures Spot Prices
- Reformulated Gasoline 267.05 -1.53%
- Heating Oil 303.65 +1.51%
- Bloomberg Base Metals Index 185.80 -1.0%
- US No. 1 Heavy Melt Scrap Steel 360.67 USD/Ton unch.
- China Iron Ore Spot 136.40 USD/Ton -.07%
- UBS-Bloomberg Agriculture 1,387.01 +.10%
Economy
- ECRI Weekly Leading Economic Index Growth Rate 2.7% +30 basis points
- Philly Fed ADS Real-Time Business Conditions Index .0642 +4.05%
- S&P 500 Blended Forward 12 Months Mean EPS Estimate 119.77 +.14%
- Citi US Economic Surprise Index 6.90 +.2 point
- Citi Emerging Markets Economic Surprise Index -15.0 -.7 point
- Fed Fund Futures imply 34.0% chance of no change, 66.0% chance of 25 basis point cut on 12/18
- US Dollar Index 80.65 +.02%
- Euro/Yen Carry Return Index 145.11 +1.41%
- 10-Year US Treasury Yield 2.74% unch.
- Federal Reserve's Balance Sheet $3.864 Trillion n/a
- U.S. Sovereign Debt Credit Default Swap 30.45 +1.90%
- Illinois Municipal Debt Credit Default Swap 186.0 -2.47%
- Western Europe Sovereign Debt Credit Default Swap Index 60.0 -4.0%
- Asia Pacific Sovereign Debt Credit Default Swap Index 107.20 +5.38%
- Emerging Markets Sovereign Debt CDS Index 234.34 +1.89%
- Israel Sovereign Debt Credit Default Swap 106.0 -2.0%
- Egypt Sovereign Debt Credit Default Swap 629.85 -5.29%
- China Blended Corporate Spread Index 350.50 -2.5 basis points
- 10-Year TIPS Spread 2.16% -4 basis points
- TED Spread 18.25 +1.25 basis points
- 2-Year Swap Spread 9.75 unch.
- 3-Month EUR/USD Cross-Currency Basis Swap -3.5 -1.75 basis points
- N. America Investment Grade Credit Default Swap Index 69.56 -.11%
- European Financial Sector Credit Default Swap Index 97.65 -4.28%
- Emerging Markets Credit Default Swap Index 293.18 +1.55%
- CMBS AAA Super Senior 10-Year Treasury Spread to Swaps 110.0 +7.0 basis points
- M1 Money Supply $2.587 Trillion n/a
- Commercial Paper Outstanding 1,059.20 +.50%
- 4-Week Moving Average of Jobless Claims 331,800 -6,700
- Continuing Claims Unemployment Rate 2.1% -10 basis points
- Average 30-Year Mortgage Rate 4.29% +7 basis points
- Weekly Mortgage Applications 449.60 -.33%
- Bloomberg Consumer Comfort -33.70 +.9 point
- Weekly Retail Sales +3.50% +10 basis points
- Nationwide Gas $3.28/gallon +.04/gallon
- Baltic Dry Index 1,719 +14.67%
- China (Export) Containerized Freight Index 1,066.22 +.08%
- Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 37.50 unch.
- Rail Freight Carloads 267,759 +.42%
Best Performing Style
Worst Performing Style
Leading Sectors
Lagging Sectors
Weekly High-Volume Stock Gainers (24)
- BONT, UVE, ENTA, KCG, ENT, SPLK, WETF, IIIN, TWC, JOSB, WDAY, CSII,
ANIK, DAKT, TIF, POST, FBRC, BERY, LGND, NLSN, WAIR, CBF, BKS and MENT
Weekly High-Volume Stock Losers (14)
- DLTR, ROST, ADT, OGE, GME, GEOS, LL, LQDT, NUAN, TFM, BRLI, DLLR, TLYS and BLOX
Weekly Charts
ETFs
Stocks
*5-Day Change
Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Most Sectors Rising
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 13.01 +.23%
- Euro/Yen Carry Return Index 145.36 +.15%
- Emerging Markets Currency Volatility(VXY) 8.83 -.23%
- S&P 500 Implied Correlation 53.58 -.78%
- ISE Sentiment Index 165.0 +35.25%
Credit Investor Angst:
- North American Investment Grade CDS Index 69.65 +1.29%
- European Financial Sector CDS Index 97.02 +2.10%
- Western Europe Sovereign Debt CDS Index 61.0 -.79%
- Emerging Market CDS Index 293.39 n/a
- 2-Year Swap Spread 9.25 +.75 basis point
- TED Spread 18.25 +.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -3.5 unch.
Economic Gauges:
- 3-Month T-Bill Yield .06% unch.
- Yield Curve 247.0 +2 basis points
- China Import Iron Ore Spot $136.40/Metric Tonne unch.
- Citi US Economic Surprise Index 6.90 -1.7 points
- Citi Emerging Markets Economic Surprise Index -15.0 +1.0 point
- 10-Year TIPS Spread 2.16 unch.
Overseas Futures:
- Nikkei Futures: Indicating +67 open in Japan
- DAX Futures: Indicating +5 open in Germany
Portfolio:
- Higher: On gains in my tech/biotech sector longs
- Disclosed Trades: Added to my (IWM)/(QQQ) hedges
- Market Exposure: Moved to 50% Net Long
Style Underperformer:
Sector Underperformers:
- 1) REITs -.90% 2) Homebuilders -.53% 3) Airlines -.30%
Stocks Falling on Unusual Volume:
- FTNT, THOR, CRM, WTI, JKS, PXD, HI and HITT
Stocks With Unusual Put Option Activity:
- 1) HL 2) TJX 3) HCA 4) OXY 5) EBAY
Stocks With Most Negative News Mentions:
- 1) F 2) PXD 3) MA 4) FTNT 5) TSLA
Charts:
Style Outperformer:
Sector Outperformers:
- 1) Gold & Silver +1.96% 2) Steel +1.68% 3) Construction +.81%
Stocks Rising on Unusual Volume:
Stocks With Unusual Call Option Activity:
- 1) TJX 2) FTNT 3) LTD 4) ARAY 5) AMD
Stocks With Most Positive News Mentions:
- 1) WFM 2) WMT 3) AMZN 4) AAPL 5) M
Charts: