Friday, March 29, 2024

Today's Headlines

Bloomberg:

Zero Hedge:
Wall Street Journal:  

CNBC:

Reuters:

MarketWatch.com:

Fox News:

TheGatewayPundit.com:

Epoch Times:

  • @BGatesIsaPsycho
  • @DC_Draino
  • MJTruthUltra
  • @libsoftiktok
  • @UScrimeReview
  • @CharlieKirk11
  • RFK’s VP choice, Nicole Shanahan, is a six-figure donor to... George Gascon, the pro-crime, Soros-backed prosecutor who helped wreck San Francisco and is currently wrecking LA. She also spent big on Measure J, a Los Angeles measure to reroute spending from law enforcement and prisons to “social services” and “mental health treatment” — in other words, not putting criminals and dangerous psychos behind bars. This is a far-left pick by RFK, who is apparently looking to shore up his progressive bona fides. Major red flag for commonsense independents and centrist voters who are also sick of rising crime but intrigued by his campaign.
  • @naomirwolf
  • @politictoons
  • @TPV_John
  • @wideawake_media
  • @Breaking911
  • @thehealthb0t
  • @WallStreetApes
  • @WallStreetSilv
  • This is out of control: We’re not in a pandemic, we’re not in a World War, and we’re in an allegedly healthy economy. When any of those change, debt will skyrocket. With US national debt up $10 trillion since the pandemic, and roughly sixfold the 2008 crisis, Washington is goose-stepping us into a collapse. (video)
  • British farmer has a message for the Westminster elite: "We had ENOUGH talking". "For the last 20 years we've been attacked by the political classes, telling us how to farm in the countryside". "We're now being paid to stop growing food and grow wild flowers". "It's insanity". (video) 
  • The FBI is visiting social media users. Not about any specific post, but just to "check off boxes ... it's procedural". Why is the FBI wasting time on this? This seems to be a 1st amendment issue if they are trying to intimidate and interfere with speech.
  • @VigilantFox
  • Tucker Carlson Says Doctors Should APOLOGIZE for Wrongly Recommending the COVID Vax. “If you hurt someone unintentionally, you have to say, ‘I’m sorry.’” “By the way,” Carlson added, “I would never go to a doctor who was still lying about COVID because that’s a dangerous person. That’s an immoral person and a dangerous person.” “I can’t get past it,” Carlson continued. “It’s like, ‘Oh, I’m great at my job. I killed a bunch of people, but I’m a great person.’ It’s like, no, it’s too big a sin to overlook. You have no credibility unless you apologize for that and explain how you reached that wrong conclusion.” (video)
  • @SoTiredOfficial
  • @TheChiefNerd
  • @KobeissiLetter
  • @kylenabecker
  • @EndWokeness
  • @songpinganq
  • @TaraBull808
OpenVAERS:
SKirsch.com:

Thursday, March 28, 2024

Weekly Scoreboard*

 

S&P 500 5,260.8 +.3%

 

 

 

 

 

 

 

 

 

 

 

 

Weekly Market Wrap by Edward Jones.

Indices

  • DJIA 39,832.8 +.12%
  • NASDAQ 16,396.8 +.01%
  • Russell 2000 2,123.8 +1.2%
  • NYSE FANG+ 10,021.9 -.3% 
  • Solactive Roundhill Meme Stock Index 449.3 +.3%
  • Goldman 50 Most Shorted 168.89 +1.3%
  • Wilshire 5000 52,484.4 +.5%
  • Russell 1000 Growth 3,399.47 -.4%
  • Russell 1000 Value 1,767.3 +1.2%
  • S&P 500 Consumer Staples 815.1 +.40%
  • Bloomberg Cyclicals/Defensives Pair Index 143.0-4.7%
  • NYSE Technology 4,807.9 -.8%
  • Transports 16,251.0 +1.4%
  • Utilities 882.6 +2.7%
  • Bloomberg European Bank/Financial Services 101.7 +1.1%
  • MSCI Emerging Markets 41.2 +.1%
  • Credit Suisse AllHedge Long/Short Equity Index 208.3 +.34%
  • Credit Suisse AllHedge Equity Market Neutral Index 109.4 +.25%
Sentiment/Internals
  • NYSE Cumulative A/D Line 496,601 +.38%
  • Nasdaq/NYSE Volume Ratio 9.4 -1.0%
  • Bloomberg New Highs-Lows Index 913 -887
  • Crude Oil Commercial Bullish % Net Position -35.2 -14.8%
  • CFTC Oil Net Speculative Position 277,757 +18.8%
  • CFTC Oil Total Open Interest 1,713,716 -.31%
  • Total Put/Call 1.28 +40.8%
  • OEX Put/Call 1.89 -12.2%
  • ISE Sentiment 127.0 -1.0 point
  • NYSE Arms .89 -24.4%
  • Bloomberg Global Risk-On/Risk-Off Index 67.2 -2.0%
  • Bloomberg US Financial Conditions Index 1.12 -7.0 basis points
  • Bloomberg European Financial Conditions Index 1.0 -2.0 basis points
  • Volatility(VIX) 12.9 +1.0%
  • DJIA Intraday % Swing .33 -53.5%
  • CBOE S&P 500 3M Implied Correlation Index 15.0 +26.0%
  • G7 Currency Volatility (VXY) 6.6 +2.3%
  • Emerging Markets Currency Volatility (EM-VXY) 6.5 +.9%
  • Smart Money Flow Index 16,137.0 +1.2%
  • NAAIM Exposure Index  103.9 +10.7
  • ICI Money Mkt Mutual Fund Assets $6.047 Trillionn/a
  • ICI Domestic Equity Long-Term Mutual Fund/ETFs Weekly Flows +$1.867 Million
  • AAII % Bulls 50.0 +15.7%
  • AAII % Bears 22.4 -17.7%
  • CNN Fear & Greed Index 70.0 (Greed) -2.0
Futures Spot Prices
  • CRB Index 286.76 +.07%
  • Crude Oil 83.0/bbl. +2.7%
  • Reformulated Gasoline 276.1 +1.3%
  • Natural Gas 1.75 +3.3%
  • Dutch TTF Nat Gas(European benchmark) 27.3 euros/megawatt-hour +3.6%
  • Heating Oil 261.6 -1.9% 
  • Newcastle Coal 131.1 (1,000/metric ton) +4.9%
  • Gold 2,219.5 +1.9%
  • Silver 24.81 +.57%
  • S&P GSCI Industrial Metals Index 419.4 -1.5%
  • Copper 401.05 -1.3%
  • US No. 1 Heavy Melt Scrap Steel 385.0 USD/Metric Tonne +.5%
  • China Iron Ore Spot 100.7 USD/Metric Tonne -6.7%
  • CME Lumber  585.5 -3.8%
  • UBS-Bloomberg Agriculture 1,522.7 +.9%
  • US Gulf NOLA Potash Spot 312.50 USD/Short Ton -.8%
Economy
  • Atlanta Fed GDPNow 1Q Forecast +2.1% unch.
  • NY Fed Real-Time Weekly Economic Index 1.78 +20.3%
  • US Economic Policy Uncertainty Index 44.0 -40.9%
  • S&P 500 Current Quarter EPS Growth Rate YoY(16 of 500 reporting) +43.6% +2.9 percentage points
  • S&P 500 Blended Forward 12 Months Mean EPS Estimate 250.09 +.60:  Growth Rate +12.1% +.3 percentage point, P/E 21.0 unch.
  • S&P 500 Current Year Estimated Profit Margin 12.84% +1.0 basis point
  • NYSE FANG+ Current Quarter EPS Growth Rate YoY(0 of 10 reporting) n/a
  • NYSE FANG+ Blended Forward 12 Months Mean EPS Estimate 311.60 +.85: Growth Rate +29.7% +.4 percentage points, P/E 32.2 -.3
  • Citi US Economic Surprise Index 33.5 -2.9 points
  • Citi Eurozone Economic Surprise Index 42.8 -3.9 points
  • Citi Emerging Markets Economic Surprise Index 21.1 +2.9 points
  • Fed Fund Futures imply 7.1%(-4.6 percentage points) chance of -25.0 basis point cut to 5.0-5.25%, 92.9%(+4.6 percentage points) chance of no change, 0.0%(unch.) chance of +25.0 basis point hike to 5.5-5.75% on 5/1
  • US Dollar Index 104.5 +.5%
  • MSCI Emerging Markets Currency Index 1,724.5 -.44%
  • Bitcoin/USD 70,901.3 +9.1%
  • Euro/Yen Carry Return Index 177.4 -.66%
  • Yield Curve(2s/10s) -42.5 -4.5 basis points
  • 10-Year US Treasury Yield 4.20% -2.0 basis points
  • Federal Reserve's Balance Sheet $7.478 Trillion n/a
  • Federal Reserve's Discount Window Usage $2.172 Billion n/a
  • Federal Reserve's Bank Term Funding Program $150.183 Billion n/a
  • U.S. Sovereign Debt Credit Default Swap 39.6 +2.6%
  • Illinois Municipal Debt Credit Default Swap 188.2 -.9%
  • Italian/German 10Y Yld Spread 138.0 +6.0 basis points
  • UK Sovereign Debt Credit Default Swap 27.2 -8.9%
  • China Sovereign Debt Credit Default Swap 70.7 +4.9%
  • Brazil Sovereign Debt Credit Default Swap 137.4 +3.3%
  • Israel Sovereign Debt Credit Default Swap 118.15 -1.5%
  • South Korea Sovereign Debt Credit Default Swap 38.2 +5.9%
  • China Corp. High-Yield Bond USD ETF(KHYB) 24.7 unch.
  • China High-Yield Real Estate Total Return Index 90.9 +1.2%
  • Atlanta Fed Low Skill Wage Growth Tracker YoY +5.6% unch.
  • Zillow US All Homes Rent Index YoY +3.5% unch.
  • US Urban Consumers Food CPI YoY +2.2% unch.
  • CPI Core Services Ex-Shelter YoY +4.5% unch.
  • Cleveland Fed Inflation Nowcast Core PCE YoY +2.78% unch.: CPI YoY +3.41% +4.0 basis points
  • 1-Year TIPS Spread 3.96% -12.0 basis points
  • Treasury Repo 3M T-Bill Spread 3.25 basis points -3.25 basis points
  • 2-Year SOFR Swap Spread -8.25 +2.5 basis points
  • 3-Month EUR/USD Cross-Currency Basis Swap -4.5 -1.0 basis point
  • N. America Investment Grade Credit Default Swap Index 51.5 +1.2%
  • America Energy Sector High-Yield Credit Default Swap Index 125.0 -7.8
  • Bloomberg TRACE # Distressed Bonds Traded 287.0 -3.0
  • European Financial Sector Credit Default Swap Index 63.1 +1.2%
  • Deutsche Bank Subordinated 5Y Credit Default Swap 184.8 -1.3%
  • Emerging Markets Credit Default Swap Index 168.5 +1.2%
  • MBS 5/10 Treasury Spread 139.0 -2.0 basis points
  • Bloomberg CMBS Investment Grade Bbb Average OAS 785.0 unch.
  • Avg. Auto ABS OAS .61 -1.0 basis point
  • M2 Money Supply YoY % Change -1.7% +30.0 basis points
  • Commercial Paper Outstanding $1,329.1B n/a
  • 4-Week Moving Average of Jobless Claims 211,000 -.35%
  • Continuing Claims Unemployment Rate 1.2% unch.
  • Kastle Back-to-Work Barometer(entries in secured buildings) 51.3 +1.5%
  • Average 30-Year Fixed Home Mortgage Rate 7.2% +8.0 basis points
  • Weekly Mortgage Applications 196,800 -.71%
  • Weekly Retail Sales +3.4% +20.0 basis points
  • OpenTable US Seated Diners % Change YoY -5.0% -1.0 percentage point
  • Box Office Weekly Gross $126.8M -26.5%
  • Nationwide Gas $3.54/gallon +.01/gallon
  • Baltic Dry Index 1,845.0 -17.6%
  • Drewry World Container Freight Index $2,929.0/40 ft Box -2.7%
  • China (Export) Containerized Freight Index 1,244.8 n/a
  • Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 42.5 -10.5%
  • Truckstop.com Market Demand Index 56.1 +3.3%
  • Rail Freight Carloads 255,316 +.12%
  • TSA Total Traveler Throughput 2,456,768 -10.1%
Best Performing Style
  • Small-Cap Value +1.3%
Worst Performing Style
  •  Large-Cap Growth -.5%
Leading Sectors
  • Gold & Silver +5.2%
  • Airlines +3.3%
  • Alt Energy +2.7%
  • Utilities +2.5%
  • Homebuilders +2.5%
Lagging Sectors
  • Shipping -.8%
  • AI/Robotics -1.3%
  • Software -1.7%
  • Road & Rail -1.7%
  • Electric Vehicles -2.7%
Weekly High-Volume Stock Gainers (34)
  • CELC, RH, HUT, ALT, SRRK, GH, TH, SA, VRNT, EL, INO, NVCR, FOXF, PRKS, MAG, DV, EXAS, CRNX, EHC, ARHS, EC, MHO, CENX, TECK, MARA, VERX, SPRY, PAAS, WBA, ETRN, EQT, LSEA and BIP
Weekly High-Volume Stock Losers (12)
  • SNN, JEF, CXM, SHLS, MODV, CCL, GME, ATAT, CC, BRZE and MLKN
ETFs
Stocks
*5-Day Change

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

Earnings of Note 
Company/Estimate 

Before the Open:
  • None of note
After the Close: 
  • (PVH)/3.53
Economic Releases
10:00 am EST
  • Construction Spending MoM for Feb. is estimated to rise +.6% versus a -.2% decline in Jan.
  • ISM Manufacturing for March is estimated to rise to 48.6 versus 47.8 in Feb.
  • ISM Prices Paid for March is estimated to rise to 53.2 versus 52.5 in Feb.

Upcoming Splits 

  • None of note
Other Potential Market Movers
  • The Atlanta Fed GDPNow Q1 update and the (JNPR) shareholders meeting 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 -17.7% Below 100-Day Average 
  • Nasdaq/NYSE Volume Ratio 10.7 +.7
  • 2 Sectors Declining, 9 Sectors Rising
  • 73.1% of Issues Advancing, 25.0% Declining 
  • TRIN/Arms 1.13 +61.4%
  • Non-Block Money Flow +$218.6M
  • 301 New 52-Week Highs, 7 New Lows
  • 65.3% (+1.5%) of Issues Above 200-day Moving Average
  • Average 14-Day RSI 71.0 +5.0
Other:
  • Bloomberg Global Risk-On/Risk-Off Index 67.5 -.8%
  • Bloomberg Cyclicals/Defensives Pair Index 143.0 +.14%
  • Russell 1000: Growth/Value 18,841.3 -.45%
  • CNN Fear & Greed Index 71.0 (Greed) +3.0
  • 1-Day Vix 8.2 -12.9%
  • Vix 13.0 +1.5%
  • Total Put/Call .93 -8.8%