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USRant for Friday, December 11th

Posted by GT on December 12, 2009 · Leave a Comment 

The following economic data was released during the session:

  • New Housing Price Index m/m for Oct was released in Canada; the series posted a reading of 0.3 sliding 0.2 from the prior reading of 0.5,
  • Import Price Index m/m for Nov was released in the US; the outcome was 1.7% adding 1 from the prior reading of 0.7%, – above the consensus estimate of 1.2%.
  • Import Price Index y/y for Nov was released in the US; the outcome was 3.7% a gain of 9.4 from the prior reading of -5.7%, – above the market’s pre-release guess of 3.1%.
  • Retail Sales m/m for Nov was released in the US; the outcome was 1.3% gaining 0.2 from the prior reading of 1.1%, – above the market’s pre-release guess of 0.6%.
  • Retail Sales ex Autos m/m for Nov was released in the US; the outcome was 1.2% adding 1 from the prior reading of 0.2%, – above the consensus estimate of 0.6%.
  • Business Inventories for Oct was released in the US; the outcome was 0.2% adding 0.6 from the prior reading of -0.4%, – above expectations of -0.3%.
  • Reuters/Michigan Consumer Sentiment Index for Dec was released in the US; the outcome was 73.4 rising 6 from the prior reading of 67.4, – above expectations of 68.6.
Headline Indices

The Dow Jones Industrial Average added +65.67 points (0.63%) to 10471.50 points. The index high for the day was 10483.82, while the low was 10400.08.

Total volume traded in the 30 components of the index was 900.19m shares. Advancers outpaced decliners by 2.6 to one, with 21 advancers to 8 decliners. Advancing volume exceeded declining volume by 694.4m to 205.79m shares. The biggest gainers (percentage-wise) were –

  • Alcoa (AA) +1.11 (8.2%) to $14.61 on volume of 74.59m shares;
  • Bank Of America (BAC) +0.42 (2.8%) to $15.63 on volume of 182.73m shares;
  • United Technologies (UTX) +1.47 (2.2%) to $69.4 on volume of 5.68m shares;
  • Citigroup (C) +0.08 (2.1%) to $3.95 on volume of 217.8m shares; and
  • General Electric (GE) +0.31 (2%) to $15.92 on volume of 56.14m shares.

The S&P500 Index added +4.06 points (0.37%) to 1106.41 points..

Total volume traded in the 500 components of the index was 3.06bn shares. Advancers outpaced decliners by 2 to one, with 314 advancers to 156 decliners. Advancing volume exceeded declining volume by 2.05bn to 999.96m shares. The biggest gainers (percentage-wise) were –

  • Fannie Mae (FNM) +0.12 (13%) to $1.04 on volume of 59.03m shares;
  • Federal Home Loan Mtg. (FRE) +0.14 (12.5%) to $1.26 on volume of 33.52m shares;
  • MGIC Investment (MTG) +0.56 (12.2%) to $5.16 on volume of 5.26m shares;
  • Liz ClaiborneInc. (LIZ) +0.45 (9.6%) to $5.13 on volume of 4.14m shares; and
  • Alcoa Inc (AA) +1.11 (8.2%) to $14.61 on volume of 74.59m shares.

The Nasdaq Composite dropped 0.55 points (0.03%) to 2190.31 points. while the Nasdaq100 lost 7.31 points (0.41%) to 1792.06 points..

Total volume traded in the 100 components of the index was 600.91m shares. Decliners outpaced gainers by 1.2 to one, with 53 decliners to 44 advancers. Declining volume was greater than advancing volume by 361.7m to 236.94m shares. The main decliners (in percentage terms) were –

  • Broadcom (BRCM) -1.23 (3.9%) to $30.16 on volume of 11.75m shares;
  • Research in Motion (RIMM) -1.96 (3%) to $63.84 on volume of 22.43m shares;
  • Focus Media Holding (FMCN) -0.42 (2.5%) to $16.27 on volume of 2.94m shares;
  • Electronic Arts (ERTS) -0.33 (2%) to $16.11 on volume of 6.56m shares; and
  • Cadence Design Systems (CDNS) -0.12 (2%) to $5.97 on volume of 5.95m shares.

Volatility

The CBOE Volatility Index fell 0.71 points (3.18%) to 21.61 points. and the CBOE Nasdaq100 Volatility Index dipped 0.6 points (2.59%) to 22.53 points..

Breadth and Internals

A total of 3867 issues traded today on the NYSE; today’s total volume was 4.27bn shares. A total of 2433 stocks posted gains for the day, and volume in advancing issues totalled 2.82bn shares. Exerting downwards pressure on the index were 1332 losers, which accounted for a total declining volume of 1.42bn shares. 290 stocks made new 1-year highs on the NYSE, while 42 shares plumbed new 52-week depths.

On the Nasdaq 2832 tickers traded today; total Nasdaq volume was 1.69bn shares. A total of 1566 stocks posted gains for the day, with aggregate volume of 0.85bn shares changing hands in the day’s winners. The red zone of the Nasdaq exchange comprised 1117 losers, and total declining volume was 0.82bn shares. 57 Nasdaq-listed stocks hit new 52-week highs, while 18 shares dipped to new 1-year lows.

Major Market Statistics
Index Close Gain(Loss) %
Dow Jones Industrial Average 10471.50+65.670.63%
S&P500 Index 1106.41+4.060.37%
Nasdaq Composite 2190.31-0.55-0.03%
Nasdaq100 1792.06-7.31-0.41%
CBOE Volatility Index 21.61-0.71-3.18%
CBOE Nasdaq100 Volatility Index 22.53-0.60-2.59%

Dow Darlings

  • Alcoa (AA) +1.11 (8.2%) to $14.61 on volume of 74.6m units
  • Bank Of America (BAC) +0.42 (2.8%) to $15.63 on volume of 182.7m units
  • United Technologies (UTX) +1.47 (2.2%) to $69.4 on volume of 5.7m units
  • Home Depot (HD) +0.52 (1.9%) to $28.51 on volume of 15.7m units
  • Disney Corp (DIS) +0.42 (1.3%) to $31.72 on volume of 15.1m units

Dow Duds:

  • Intel (INTC) -0.25 (1.2%) to $19.9 on volume of 38.3m units
  • JPMorganChase (JPM) -0.31 (0.8%) to $40.96 on volume of 45.6m units
  • Hewlett-Packard (HPQ) -0.09 (0.2%) to $50.05 on volume of 11.4m units
  • Pfizer (PFE) -0.02 (0.1%) to $18.3 on volume of 30.6m units
  • Microsoft (MSFT) -0.02 (0.1%) to $29.85 on volume of 43m units

Most Traded Dow stocks:

  • Bank Of America (BAC) +0.42 (2.8%) to $15.63 on volume of 182.7m units
  • Alcoa (AA) +1.11 (8.2%) to $14.61 on volume of 74.6m units
  • JPMorganChase (JPM)-0.31 (0.8%) to $40.96 on volume of 45.6m units
  • Microsoft (MSFT)-0.02 (0.1%) to $29.85 on volume of 43m units
  • Intel (INTC)-0.25 (1.2%) to $19.9 on volume of 38.3m units
Precious Metals

Precious metals futures performed as follows –

Index
Precious Metals Futures
Close Gain(Loss) %
Gold 1119.9 -6.3 -0.56
Gold 1115.2 -11 -0.98
Silver 17.09 -0.098 -0.57
Silver 17.21 0.022 0.13
Palladium 362.15 -2.95 -0.81
Palladium 361 -4.1 -1.12
Platinum 1422.7 -1.8 -0.13
Platinum 1428 3.5 0.25

The Gold Bugs index (XAU) lost 3.7 points (2.1%) to 172.44 points. Total volume traded in the 16 components of the index was 98.78m shares. None of the 16 index components rose today: 16 stocks within the index fell, with downside volume of 98.78m shares. The main decliners (in percentage terms) were –

  • Yamana Gold (AUY) -0.46 (3.7%) to $12.05 on volume of 18.89m shares;
  • Barrick Gold (ABX) -1.43 (3.5%) to $39.58 on volume of 14.46m shares;
  • Kinroos Gold (KGC) -0.6 (3%) to $19.23 on volume of 6.11m shares;
  • Royal Gold (RGLD) -1.46 (2.8%) to $50.08 on volume of 0.61m shares; and
  • GoldCorp (GG) -1 (2.4%) to $39.85 on volume of 7.36m shares.
Energy Complex

Energy futures performed as follows –

Energy Futures
Commodity Close Gain(Loss) %
Crude Oil 71.95 -0.37 -0.51
Crude Oil 71.74 -0.58 -0.8
Heating Oil 1.9085 0.0056 0.29
Heating Oil 1.907 0.0041 0.22
Natural Gas 5.163 -0.135 -2.55
Natural Gas 5.151 -0.147 -2.77
Gasoline RBOB 1.8416 0.0065 0.35
Gasoline RBOB 1.84 0.0049 0.27

The Oil Services index (OSX) fell 0.03 points (0.02%) to 185.57 points. Total volume traded in the 15 components of the index was 69.09m shares. Decliners outpaced gainers by 1.5 to one, with 9 decliners to 6 advancers. Declining volume was greater than advancing volume by 52.37m to 16.72m shares. The main decliners (in percentage terms) were –

  • Weatherford International (WFT) -0.4 (2.5%) to $15.88 on volume of 17.49m shares;
  • Rowan Co (RDC) -0.23 (1%) to $23.18 on volume of 3.39m shares;
  • Transocean Inc (RIG) -0.43 (0.5%) to $80.27 on volume of 3.61m shares;
  • Nabors Industries (NBR) -0.06 (0.3%) to $20.28 on volume of 3.53m shares; and
  • Noble Corp (NE) -0.1 (0.2%) to $40.4 on volume of 2.64m shares.
Currency Futures

Currency futures performed as follows –

Currency Futures
Index Close Gain(Loss) %
U.S. Dollar Index 76.935 0.525 0.69
Euro FX 1.4619 -0.01 -0.68
Australian Dollar 0.9022 -0.006 -0.66
Canadian Dollar 0.9428 -0.0094 -0.99
Japanese Yen 0.011219 -0.00012 -1.06
New Zealand Dollar 0.7191 -0.0044 -0.61

Bellwethers

The nine-stock group that makes up the Rant bellwethers advanced on average by 3.1%. The fallout occurred as follows:

  • General Electric (GE) +0.31 (1.99%) to $15.92 on volume of 56.14m units.
  • Citigroup (C) +0.08 (2.07%) to $3.95 on volume of 217.8m units.
  • Wal-Mart (WMT) -0.04 (0.07%) to $54.65 on volume of 11.17m units.
  • IBM (IBM) +0.34 (0.26%) to $129.68 on volume of 6.34m units.
  • Intel (INTC) -0.25 (1.24%) to $19.90 on volume of 38.3m units.
  • Cisco Systems (CSCO) -0.172 (0.72%) to $23.768 on volume of 27.1m units.
  • Google (GOOG) -0.99 (0.17%) to $590.51 on volume of 1.69m units.
  • Fannie Mae (FNM) +0.12 (13.04%) to $1.04 on volume of 59.03m units.
  • Freddie Mac (FRE) +0.14 (12.5%) to $1.26 on volume of 33.52m units.
Other Indices of Interest…

The Banks index (BKX) advanced 0.44 points (1.02%) to 43.59 points. Total volume traded in the 24 components of the index was 601.03m shares. Advancers outpaced decliners by 2.7 to one, with 16 advancers to 6 decliners. Advancing volume exceeded declining volume by 525.64m to 75.4m shares. The biggest gainers (percentage-wise) were –

  • Capital One Financial (COF) +1.68 (4.3%) to $40.4 on volume of 6.54m shares;
  • Keycorp (KEY) +0.19 (3.2%) to $6.07 on volume of 13.12m shares;
  • Comerica Inc (CMA) +0.84 (3%) to $28.88 on volume of 2.12m shares;
  • Bank Of America (BAC) +0.42 (2.8%) to $15.63 on volume of 182.73m shares; and
  • New M&I Corporation (MI) +0.14 (2.5%) to $5.85 on volume of 3.9m shares.

The Semiconductor index (SOX) was unchanged at 0 points. Total volume traded in the 18 components of the index was 160.82m shares. Decliners outpaced gainers by 3.3 to one, with 13 decliners to 4 advancers. Declining volume was greater than advancing volume by 121.66m to 39.15m shares. The index’s rather boring situation arose as a result of a mixed bag of results, the most notable amongst these (in percentage terms) being –

  • Broadcom (BRCM) -1.23 (3.9%) to $30.16 on volume of 11.75m shares;
  • National Semiconductor (NSM) -0.55 (3.6%) to $14.73 on volume of 12.86m shares;
  • Taiwan Semiconductor (TSM) -0.2 (1.8%) to $10.73 on volume of 10.78m shares;
  • Marvell Technology (MRVL) -0.24 (1.3%) to $18.43 on volume of 10.73m shares; and
  • Intel (INTC) -0.25 (1.2%) to $19.9 on volume of 38.3m shares.

The ChildKiller (“Defence”) index (DFX) advanced 5.4 points (1.61%) to 341.04 points. Total volume traded in the 17 components of the index was 84.98m shares. Advancers outpaced decliners by 4.3 to one, with 13 advancers to 3 decliners. Advancing volume exceeded declining volume by 82.93m to 2.05m shares. The biggest gainers (percentage-wise) were –

  • Embraer Empresa (ERJ) +2.1 (10.3%) to $22.45 on volume of 2.19m shares;
  • Esterline Tech (ESL) +1.72 (4.2%) to $42.72 on volume of 0.48m shares;
  • United Technologies (UTX) +1.47 (2.2%) to $69.4 on volume of 5.68m shares;
  • L-3 Holdings (LLL) +1.63 (2%) to $83.64 on volume of 1.28m shares; and
  • General Electric (GE) +0.31 (2%) to $15.92 on volume of 56.14m shares.

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