Style Underperformer:
Sector Underperformers:
- 1) Gold & Silver -1.24% 2) Software -.24% 3) Computer Services -.03%
Stocks Falling on Unusual Volume:
- RYAAY, KMI, KMP, MTDR, TLK, WAL, FRAN, GWRE, GMED, UBNT, HAIN, HRB, LUX, DORM, NQ, NAV, AWK, SAI, MSFT,CHD, CRZO, TITN, KMR, CAB, VVUS and PIKE
Stocks With Unusual Put Option Activity:
- 1) EWJ 2) KMI 3) XLP 4) CIEN 5) ADT
Stocks With Most Negative News Mentions:
- 1) VVUS 2) CBI 3) CNQR 4) NUVA 5) COST
Charts:
Style Outperformer:
Sector Outperformers:
- 1) Networking +2.04% 2) Semis +1.98% 3) Education +1.53%
Stocks Rising on Unusual Volume:
- MHR, CIEN, SFUN, ETFC, MU, DG, VRNT, JCP, TASR, RPTP, TPX, ARIA, FNSR, RKUS, RPRX, JNPR, CATM, NWL, JDSU and YELP
Stocks With Unusual Call Option Activity:
- 1) ETFC 2) SFD 3) SE 4) KMP 5) ODP
Stocks With Most Positive News Mentions:
- 1) CERN 2) CME 3) MCHP 4) RDC 5) MAR
Charts:
Click Here for Today's Market Take.
Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Most Sectors Rising
- Market Leading Stocks: Performing In Line
Equity Investor Angst:
- Volatility(VIX) 16.76 -1.47%
- Euro/Yen Carry Return Index 136.80 +.09%
- Emerging Markets Currency Volatility(VXY) 11.91 +2.41%
- S&P 500 Implied Correlation 54.51 -.15%
- ISE Sentiment Index 104.0 +23.81%
- Total Put/Call .74 -33.93%
Credit Investor Angst:
- North American Investment Grade CDS Index 83.53 -.31%
- European Financial Sector CDS Index 144.36 +.08%
- Western Europe Sovereign Debt CDS Index 85.91 +.12%
- Emerging Market CDS Index 341.48 +.37%
- 2-Year Swap Spread 17.25 +.75 bp
- 3-Month EUR/USD Cross-Currency Basis Swap -10.0 -.25 bp
Economic Gauges:
- 3-Month T-Bill Yield .02% unch.
- China Import Iron Ore Spot $138.70/Metric Tonne unch.
- Citi US Economic Surprise Index 36.80 +6.0 points
- Citi Emerging Markets Economic Surprise Index -16.90 -2.2 points
- 10-Year TIPS Spread 2.11 unch.
Overseas Futures:
- Nikkei Futures: Indicating -88 open in Japan
- DAX Futures: Indicating -4 open in Germany
Portfolio:
- Slightly Lower: On losses in my retail sector longs, index hedges and emerging markets shorts
- Market Exposure: 25% Net Long
Bloomberg:
- Obama Gets Boehner’s Support in ‘Call to Action’ Against Syria. President
Barack Obama urged Congress to take a “prompt” vote authorizing
military action against Syria and won endorsement for the cause from the
two top Republicans in the U.S. House. Backing from House Speaker John
Boehner and Majority Leader Eric Cantor will help Obama as he makes his
case to lawmakers who’ve questioned the evidence presented by the
administration that the Syrian government was
behind a sarin gas attack last month or whether the U.S. has a vital
interest in the region.
- European Stocks Decline; Benchmark Stoxx 600 Index Falls.
European stocks declined as U.S.
Speaker of the House John Boehner said he supports the president’s call
for action against Syria, offsetting better-than-forecast manufacturing
data. Vodafone (VOD) Group Plc slipped 5 percent as shareholders weighed
the details of the $130-billion deal to sell its stake in Verizon
Wireless. Nokia Oyj soared 34 percent after Microsoft Corp. agreed to
buy its handset business for 5.44 billion euros ($7.2 billion). Dufry
AG, the operator of duty-free stores, climbed 3.4 percent after winning
contracts in Brazil. The Stoxx Europe 600 Index fell 0.4 percent to 301.78 at
the close. Stock markets were rattled earlier, with the gauge
losing as much as 0.7 percent, by what Israel said was a joint
flight test with the U.S. of its Arrow missile-interception
system over the Mediterranean Sea.
- Treasuries Slide Most in a Month as Factory Gains Spur Fed Bets. Treasuries
fell the most in a month as a gauge of U.S. manufacturing rose more
than forecast in August, reinforcing bets the Federal Reserve will soon
announce to reduce monetary stimulus. Yields on benchmark 10-year notes
climbed as much as 13 basis points, extending the biggest annual rout in U.S. government securities in almost four decades. Treasuries fell
earlier as demand for refuge eased while the threat of an
immediate U.S. military strike on Syria declined. The Labor
Department will report Sept. 6 U.S. payrolls added more jobs in
August than in July, and Fed policy makers meet Sept. 17-18.
- Crude Advances as Obama Seeks Support on Syria. West
Texas Intermediate crude
advanced as U.S. President Barack Obama sought support in Congress for a
military strike on Syria, bolstering concern that oil shipments from
the Middle East will be disrupted. Futures gained as much as 1.1
percent after House Speaker John Boehner told reporters he will back the
president’s call for action against Syria in response to the alleged
use of chemical weapons. Obama stepped up lobbying today after
requesting authorization from Congress on Aug. 31. Prices climbed
earlier as Israel said it carried out a missile joint test launch with
the U.S. in the Mediterranean Sea. “The market is processing what
appears to be a slow grind to military action against Syria,” said John
Kilduff, a partner at Again Capital LLC, a New York hedge fund that
focuses on energy. “There’s headline risk ahead of us. The reaction to
the Israeli missile test is an example of what we will be seeing until
the Syria situation is resolved.” WTI crude for October delivery
climbed $1.01, or 0.9 percent, to $108.66 a barrel at 1:39 p.m. on the
New York Mercantile Exchange. Trading was 2.6 percent above the 100-day
average. There was no floor trading yesterday because of the
U.S. Labor Day holiday, and yesterday’s electronic transactions
will be booked today for settlement purposes. Brent oil for October settlement increased $1.47, or 1.3
percent, to $115.80 a barrel on the ICE Futures Europe exchange.
Trading was 29 percent above the 100-day average. The European
benchmark grade traded at a $7.14 premium to WTI.
- Gold Rises First Time in Four Days on Middle Ease Tension. Gold gained for the first time in
four sessions after Israel tested its missile-defense system,
fueling concern that tensions in the Middle East will escalate and boosting the appeal of haven assets. Gold futures for December delivery rose 0.3 percent to
$1,400.50 an ounce at 10:20 a.m. on the Comex in New York.
- Dealers in Debt Pare Commitments Raising Risk as Rules Bite.
The worst losses in U.S. debt in at least 37 years are being magnified
by investors exiting the market at the same time new regulations prompt
Wall Street firms to cut back on trading corporate bonds. Bank of America Merrill Lynch’s U.S. Broad Market Index is
on pace to drop 4.41 percent, the biggest annual loss since at
least 1976. Investors pulled $123 billion from bond funds since
May, according to TrimTabs Investment Research. Trading in corporate fixed-income securities is the lowest
ever as a proportion of outstanding debt, and volumes in
Treasuries are little changed from 2007 levels even though the
market has almost tripled to $11.5 trillion, Financial Industry
Regulatory Authority and ICAP Plc data show. Bonds are getting
riskier even with inflation at bay and corporate profits hitting
new highs. “When bond investors start to meaningfully divest
themselves of their positions, it will be analogous to yelling
fire in a crowded theater,” Michael Underhill, the chief
investment officer at Capital Innovations LLC, which manages
$1.5 billion, said in an e-mail Aug. 23.
- State Bank of India Credit Growth 21% y/y as of Now. Home and
auto loans driving credit growth, Chairman Pratip Chaudhuri said in a
Bloomberg TV India interview.
Wall Street Journal:
Zero Hedge:
Business Insider:
New York Times:
- World Economy Growing Unevenly, O.E.C.D. Says. The world economy will continue slowly expanding for the rest of the
year, despite signs of relative weakness in China and other emerging
markets, and an uneven recovery in Europe, the Organization for Economic
Cooperation and Development said Tuesday. The picture in emerging economies is less promising, the organization
noted. China, it said, “appears to have passed the trough” — the nadir
of its economic cycle — but it and other emerging economies face
significant uncertainty, including possible financial market
disruptions.
- Former Chinese Railroad Official Indicted on Bribery Charges. A
former high-ranking Chinese railroad official, whose daughter’s
employment at JPMorgan Chase is a focus of an antibribery investigation
in the United States, has been formally indicted on bribery charges in a
Beijing court. Zhang Shuguang, former deputy chief engineer at the Ministry of
Railways, was indicted on charges related to 13 incidents of bribery
from 2000 to 2011, Chinese news reports said on Tuesday.
Reuters:
WantChinaTimes:
- Chinese cities reporting inflated foreign investment data: paper. Some eastern Chinese cities have been found inflating the amount of
foreign investments they receive by paying brokers to introduce US
dollars from abroad, which adds to the financial burden of local
authorities, the Chinese-language China Business News reports.
According to the news outlet, certain cities in an unspecified
eastern Chinese province have been hiring brokering agencies in
Guangdong to set up firms under the names of people based in Hong Kong
and Taiwan. The firms, which in actuality do not exist, then usher in US
dollars, which means foreign investments for local governments. The
brokering agencies bring in the "foreign investments" for a
reward from local authorities — 170,000 yuan (US$28,000) in return for
every US$1 million introduced — according to a report by Gong Zhen, an
official from the Central Committee of the Jiu San Society. As a result
of the practice, a city reported growth in the foreign investments for
four consecutive years, according to Gong.
CCTV:
- China's Xi Calls for Ban on Buying Gifts Using Public Funds.
Chinese President Xi Jinping calls for a ban on using public funds to
buy gifts or hold banquets during festivals, including the Mid-Autumn
Festival and National Day holidays, citing Xi as saying during a visit
to the northeaster Chinese province of Liaoning. Xi also calls for a ban
on using public funds for travel during holidays, CCTV said.
Style Underperformer:
Sector Underperformers:
- 1) Software -1.98% 2) REITs -1.39% 3) Utilities -1.29%
Stocks Falling on Unusual Volume:
- MSFT, AEC, WRI, WIFI, ENOC, WEC, GAS, HDB, SJR, PTNR, VZ, IBN, BBEP, GENT, VOD, SNY, BIOS, GIB, REG, KKD, USAC, MNST, SJR, ATW, UBNT, ESV, IBN, MGAM, SNH, KEX, IDA, INDY, PER, AEC, LNT and MUR
Stocks With Unusual Put Option Activity:
- 1) HOV 2) GPS 3) XLV 4) KRE 5) LVS
Stocks With Most Negative News Mentions:
- 1) WSM 2) PBR 3) KMP 4) ISRG 5) LF
Charts:
Style Outperformer:
Sector Outperformers:
- 1) Networking +2.69% 2) Computer Hardware +2.16% 3) Steel +1.96%
Stocks Rising on Unusual Volume:
- TU, RCI, CMLS, CBS, SFUN, JAH, ERIC, JKS, CIEN, DDD, ISIS and FNF
Stocks With Unusual Call Option Activity:
- 1) IP 2) VZ 3) RPRX 4) HALO 5) SD
Stocks With Most Positive News Mentions:
- 1) APA 2) CCE 3) NVDA 4) FINL 5) STZ
Charts:
