USRant for Friday, November 27th
The following economic data was released during the session:
- Current Account for 3Q was released in Canada; the outcome was -13.12B dropping 1.18 from the prior reading of -11.94B, – less than expectations of -12.90B.
Headline Indices
The Dow Jones Industrial Average lost 154.48 points (1.48%) to 10309.92 points. The index high for the day was 10452.23, while the low was 10231.25.
Total volume traded in the 30 components of the index was 680.3m shares. None of the 30 index components rose today: 29 stocks within the index fell, with downside volume of 680.3m shares. The main decliners (in percentage terms) were –- AIG (AIG) -1.38 (4%) to $33.3 on volume of 4.21m shares;
- Bank Of America (BAC) -0.48 (3%) to $15.47 on volume of 96.68m shares;
- Caterpillar (CAT) -1.59 (2.7%) to $57.45 on volume of 5.19m shares;
- Citigroup (C) -0.11 (2.6%) to $4.06 on volume of 258.03m shares; and
- Alcoa (AA) -0.34 (2.6%) to $12.66 on volume of 15.55m shares.
The S&P500 Index fell 23.36 points (2.1%) to 1087.27 points..
Total volume traded in the 500 components of the index was 1.85bn shares. Decliners outpaced gainers by 93.8 to one, with 469 decliners to 5 advancers. Declining volume was greater than advancing volume by 1.85bn to 5.6m shares. The main decliners (in percentage terms) were –- MBIA Inc. (MBI) -0.22 (6.1%) to $3.4 on volume of 4.5m shares;
- SLM Corporation (SLM) -0.61 (5.4%) to $10.72 on volume of 2.38m shares;
- Hartford Financial Svc.Gp. (HIG) -1.33 (5.3%) to $23.72 on volume of 6.29m shares;
- KeyCorp (KEY) -0.3 (5.1%) to $5.57 on volume of 7.32m shares; and
- Fannie Mae (FNM) -0.05 (5.1%) to $0.94 on volume of 15.47m shares.
The Nasdaq Composite slid 37.61 points (1.73%) to 2138.44 points. while the Nasdaq100 declined 28.21 points (1.57%) to 1765.46 points..
Total volume traded in the 100 components of the index was 333.62m shares. Decliners outpaced gainers by 48 to one, with 96 decliners to 2 advancers. Declining volume was greater than advancing volume by 330.24m to 3.38m shares. The main decliners (in percentage terms) were –- Infosys Technologies (INFY) -2.07 (3.9%) to $50.57 on volume of 0.89m shares;
- Wynn Resorts (WYNN) -2.39 (3.7%) to $62.98 on volume of 1.69m shares;
- Flextronics International (FLEX) -0.26 (3.5%) to $7.14 on volume of 6.14m shares;
- Joy Global (JOYG) -1.92 (3.5%) to $53.52 on volume of 1.59m shares; and
- Expedia (EXPE) -0.9 (3.4%) to $25.21 on volume of 1.75m shares.
Volatility
The CBOE Volatility Index gained +4.26 points (20.8%) to 24.74 points. and the CBOE Nasdaq100 Volatility Index added +4.08 points (19.14%) to 25.40 points..
Breadth and Internals
A total of 3735 issues traded today on the NYSE; today’s total volume was 2.85bn shares. A total of 618 stocks posted gains for the day, and volume in advancing issues totalled 0.34bn shares. Exerting downwards pressure on the index were 3053 losers, which accounted for a total declining volume of 2.51bn shares. 73 stocks made new 1-year highs on the NYSE, while 46 shares plumbed new 52-week depths.
On the Nasdaq 2731 tickers traded today; total Nasdaq volume was 0.97bn shares. A total of 468 stocks posted gains for the day, with aggregate volume of 0.1bn shares changing hands in the day’s winners. The red zone of the Nasdaq exchange comprised 2158 losers, and total declining volume was 0.86bn shares. 25 Nasdaq-listed stocks hit new 52-week highs, while 39 shares dipped to new 1-year lows.
| Major Market Statistics | |||
| Index | Close | Gain(Loss) | % |
| Dow Jones Industrial Average | 10309.92 | -154.48 | -1.48% |
| S&P500 Index | 1087.27 | -23.36 | -2.1% |
| Nasdaq Composite | 2138.44 | -37.61 | -1.73% |
| Nasdaq100 | 1765.46 | -28.21 | -1.57% |
| CBOE Volatility Index | 24.74 | +4.26 | 20.8% |
| CBOE Nasdaq100 Volatility Index | 25.40 | +4.08 | 19.14% |
No Dow components rose
.Dow Duds:
- Bank Of America (BAC) -0.48 (3%) to $15.47 on volume of 96.7m units
- Caterpillar (CAT) -1.59 (2.7%) to $57.45 on volume of 5.2m units
- Alcoa (AA) -0.34 (2.6%) to $12.66 on volume of 15.6m units
- Du Pont (DD) -0.75 (2.1%) to $34.4 on volume of 2.6m units
- American Express (AXP) -0.88 (2.1%) to $40.84 on volume of 6m units
Most Traded Dow stocks:
- Bank Of America (BAC)-0.48 (3%) to $15.47 on volume of 96.7m units
- General Electric (GE)-0.24 (1.5%) to $15.94 on volume of 60.9m units
- Intel (INTC)-0.23 (1.2%) to $19.11 on volume of 35.7m units
- Microsoft (MSFT)-0.57 (1.9%) to $29.22 on volume of 29.4m units
- JPMorganChase (JPM)-0.83 (2%) to $41.33 on volume of 26.2m units
Precious Metals
Precious metals futures performed as follows –
| Precious Metals Futures | ||||
| Close | Gain(Loss) | % | ||
|---|---|---|---|---|
| Gold | 1175.5 | -18.3 | -1.53 | |
| Silver | 18.335 | -0.36 | -1.93 | |
| Palladium | 368.55 | -4.45 | -1.19 | |
| Platinum | 1445 | -17 | -1.16 | |
The Gold Bugs index (XAU) dipped 7.28 points (3.82%) to 183.52 points. Total volume traded in the 16 components of the index was 77.87m shares. None of the 16 index components rose today: 16 stocks within the index fell, with downside volume of 77.87m shares. The main decliners (in percentage terms) were –
- Coeur d’Alene (CDE) -1.2 (5%) to $22.63 on volume of 2.15m shares;
- Yamana Gold (AUY) -0.68 (4.9%) to $13.18 on volume of 15.59m shares;
- Silver Stand Resources (SSRI) -1.09 (4.8%) to $21.49 on volume of 0.94m shares;
- Silver Wheaton (SLW) -0.81 (4.8%) to $16 on volume of 7.21m shares; and
- Kinroos Gold (KGC) -0.93 (4.6%) to $19.37 on volume of 6.2m shares.
Energy Complex
Energy futures performed as follows –
| Energy Futures | ||||
| Commodity | Close | Gain(Loss) | % | |
|---|---|---|---|---|
| Crude Oil | 76.05 | -0.18 | -0.24 | |
| Heating Oil | 2.0096 | 0.0069 | 0.34 | |
| Natural Gas | 5.192 | 0.02 | 0.39 | |
| Gasoline RBOB | 1.9548 | -0.0237 | -1.2 | |
The Oil Services index (OSX) dipped 5.29 points (2.72%) to 189.25 points. Total volume traded in the 15 components of the index was 44.77m shares. None of the 15 index components rose today: 15 stocks within the index fell, with downside volume of 44.77m shares. The main decliners (in percentage terms) were –
- Halliburton (HAL) -1.12 (3.7%) to $29.09 on volume of 8.83m shares;
- National Oilwell Varco (NOV) -1.58 (3.5%) to $43.3 on volume of 2.49m shares;
- Nabors Industries (NBR) -0.71 (3.3%) to $20.57 on volume of 2.69m shares;
- Cameron International (CAM) -1.25 (3.2%) to $37.24 on volume of 2.05m shares; and
- Rowan Co (RDC) -0.77 (3.1%) to $24.37 on volume of 1.66m shares.
Currency Futures
Currency futures performed as follows –
| Currency Futures | ||||
| Index | Close | Gain(Loss) | % | |
|---|---|---|---|---|
| U.S. Dollar Index | 75.04 | 0.155 | 0.21 | |
| Euro FX | 1.496 | -0.0177 | -1.17 | |
| Australian Dollar | 0.9052 | -0.0249 | -2.68 | |
| Canadian Dollar | 0.941 | -0.0154 | -1.61 | |
| Japanese Yen | 0.011523 | 8.1e-05 | 0.71 | |
| New Zealand Dollar | 0.7083 | -0.0214 | -2.93 | |
Bellwethers
The nine-stock group that makes up the Rant bellwethers declined on average by 1.8%. The fallout occurred as follows:
- General Electric (GE) -0.24 (1.48%) to $15.94 on volume of 60.92m units.
- Citigroup (C) -0.11 (2.64%) to $4.06 on volume of 258.03m units.
- Wal-Mart (WMT) -0.33 (0.6%) to $54.63 on volume of 7.53m units.
- IBM (IBM) -1.58 (1.24%) to $125.70 on volume of 3.32m units.
- Intel (INTC) -0.23 (1.19%) to $19.11 on volume of 35.75m units.
- Cisco Systems (CSCO) -0.36 (1.52%) to $23.38 on volume of 21.77m units.
- Google (GOOG) -5.98 (1.02%) to $579.76 on volume of 1.38m units.
- Fannie Mae (FNM) -0.05 (5.05%) to $0.94 on volume of 15.47m units.
- Freddie Mac (FRE) -0.02 (1.79%) to $1.10 on volume of 9.87m units.
Other Indices of Interest…
The Banks index (BKX) declined 1.18 points (2.67%) to 43.04 points. Total volume traded in the 24 components of the index was 483.71m shares. None of the 24 index components rose today: 22 stocks within the index fell, with downside volume of 483.71m shares. The main decliners (in percentage terms) were –
- Keycorp (KEY) -0.3 (5.1%) to $5.57 on volume of 7.32m shares;
- Capital One Financial (COF) -1.52 (3.9%) to $37.24 on volume of 2.67m shares;
- Regions Financial (RF) -0.22 (3.8%) to $5.58 on volume of 16.44m shares;
- New M&I Corporation (MI) -0.21 (3.7%) to $5.43 on volume of 3.15m shares; and
- Fifth Third Bancorp (FITB) -0.37 (3.7%) to $9.57 on volume of 6.13m shares.
The Semiconductor index (SOX) was unchanged at 0 points. Total volume traded in the 18 components of the index was 102.76m shares. None of the 18 index components rose today: 17 stocks within the index fell, with downside volume of 102.76m 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 –
- Advanced Micro Devices (AMD) -0.26 (3.7%) to $6.85 on volume of 16.18m shares;
- Sandisk (SNDK) -0.65 (3.2%) to $19.66 on volume of 2.6m shares;
- ST Microelectronic (STM) -0.22 (2.6%) to $8.18 on volume of 0.79m shares;
- Micron Technology (MU) -0.16 (2.1%) to $7.3 on volume of 7.29m shares; and
- Broadcom (BRCM) -0.59 (2%) to $28.97 on volume of 3.2m shares.
The ChildKiller (“Defence”) index (DFX) lost 5.47 points (1.64%) to 328.65 points. Total volume traded in the 17 components of the index was 74.6m shares. None of the 17 index components rose today: 16 stocks within the index fell, with downside volume of 74.6m shares. The main decliners (in percentage terms) were –
- Gencorp (GY) -0.22 (2.6%) to $8.1 on volume of 0.46m shares;
- Esterline Tech (ESL) -0.91 (2.2%) to $40.62 on volume of 0.06m shares;
- Teledyne Tech (TDY) -0.72 (2.1%) to $33.66 on volume of 0.11m shares;
- Embraer Empresa (ERJ) -0.42 (2%) to $20.36 on volume of 0.32m shares; and
- L-3 Holdings (LLL) -1.55 (1.9%) to $78.45 on volume of 0.35m shares.
