Friday, May 29, 2020

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
Stocks
*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