USRant for Monday, November 9th
The following economic data was released during the session:
- Housing Starts s.a y/y for Oct was released in Canada; the result was 157.3K a gain of 8.3 from the prior reading of 149.0K, – above the market’s pre-release guess of 157.0K.
Headline Indices
The Dow Jones Industrial Average added +203.52 points (2.03%) to 10226.94 points. The index high for the day was 10227.62, while the low was 10020.62.
Total volume traded in the 30 components of the index was 977.83m shares. Not a single stock declined withinin the index: 29 of the 30 index components rose, with total upside volume of 977.83mshares. The biggest gainers (percentage-wise) were –- American Express (AXP) +1.84 (4.9%) to $39.05 on volume of 16.01m shares;
- Bank Of America (BAC) +0.72 (4.8%) to $15.77 on volume of 168.4m shares;
- Caterpillar (CAT) +2.4 (4.2%) to $60 on volume of 11.86m shares;
- Du Pont (DD) +1.23 (3.7%) to $34.61 on volume of 6.54m shares; and
- Alcoa (AA) +0.45 (3.5%) to $13.34 on volume of 19.76m shares.
The S&P500 Index advanced +23.77 points (2.22%) to 1093.07 points..
Total volume traded in the 500 components of the index was 3.62bn shares. Advancers outpaced decliners by 20.6 to one, with 453 advancers to 22 decliners. Advancing volume exceeded declining volume by 3.43bn to 191.26m shares. The biggest gainers (percentage-wise) were –- Sprint Nextel Corp. (S) +0.58 (20.4%) to $3.43 on volume of 121.03m shares;
- RadioShack Corp (RSH) +2.53 (14.3%) to $20.27 on volume of 15.89m shares;
- MBIA Inc. (MBI) +0.44 (10.1%) to $4.79 on volume of 11.04m shares;
- Developers Diversified Rlty (DDR) +0.74 (9.4%) to $8.65 on volume of 4.83m shares; and
- Unisys Corp. (UIS) +2.86 (9.2%) to $33.85 on volume of 1.41m shares.
The Nasdaq Composite advanced +41.62 points (1.97%) to 2154.06 points. while the Nasdaq100 gained +37.64 points (2.17%) to 1768.40 points..
Total volume traded in the 100 components of the index was 753.39m shares. Advancers outpaced decliners by 7.1 to one, with 85 advancers to 12 decliners. Advancing volume exceeded declining volume by 620.12m to 107.69m shares. The biggest gainers (percentage-wise) were –- Wynn Resorts (WYNN) +3.81 (6.4%) to $63.54 on volume of 5.88m shares;
- Joy Global (JOYG) +2.87 (5.3%) to $56.97 on volume of 3.65m shares;
- Broadcom (BRCM) +1.41 (5.2%) to $28.29 on volume of 11.24m shares;
- Adobe Systems (ADBE) +1.8 (5.2%) to $36.45 on volume of 8.17m shares; and
- DISH Network (DISH) +0.99 (5.2%) to $20.14 on volume of 11.64m shares.
Volatility
The CBOE Volatility Index fell 1.04 points (4.3%) to 23.15 points. and the CBOE Nasdaq100 Volatility Index fell 1.04 points (4.23%) to 23.56 points..
Breadth and Internals
A total of 3158 issues traded today on the NYSE; today’s total volume was 0.27bn shares. A total of 2549 stocks posted gains for the day, and volume in advancing issues totalled 0.01bn shares. Exerting downwards pressure on the index were 530 losers, which accounted for a total declining volume of 0.25bn shares. 231 stocks made new 1-year highs on the NYSE, while 31 shares plumbed new 52-week depths.
On the Nasdaq 2825 tickers traded today; total Nasdaq volume was 1.93bn shares. A total of 1876 stocks posted gains for the day, with aggregate volume of 1.51bn shares changing hands in the day’s winners. The red zone of the Nasdaq exchange comprised 840 losers, and total declining volume was 0.38bn shares. 108 Nasdaq-listed stocks hit new 52-week highs, while 31 shares dipped to new 1-year lows
| Major Market Statistics | |||
| Index | Close | Gain(Loss) | % |
| Dow Jones Industrial Average | 10226.94 | +203.52 | 2.03% |
| S&P500 Index | 1093.07 | +23.77 | 2.22% |
| Nasdaq Composite | 2154.06 | +41.62 | 1.97% |
| Nasdaq100 | 1768.40 | +37.64 | 2.17% |
| CBOE Volatility Index | 23.15 | -1.04 | -4.3% |
| CBOE Nasdaq100 Volatility Index | 23.56 | -1.04 | -4.23% |
Dow Darlings
- American Express (AXP) +1.84 (4.9%) to $39.05 on volume of 16m units
- Bank Of America (BAC) +0.72 (4.8%) to $15.77 on volume of 168.4m units
- Caterpillar (CAT) +2.4 (4.2%) to $60 on volume of 11.9m units
- Du Pont (DD) +1.23 (3.7%) to $34.61 on volume of 6.5m units
- Alcoa (AA) +0.45 (3.5%) to $13.34 on volume of 19.8m units
Dow Duds:
Most Traded Dow stocks:
- Bank Of America (BAC) +0.72 (4.8%) to $15.77 on volume of 168.4m units
- General Electric (GE) +0.52 (3.4%) to $15.85 on volume of 100.5m units
- Microsoft (MSFT) +0.47 (1.6%) to $28.99 on volume of 57m units
- Intel (INTC) +0.53 (2.8%) to $19.46 on volume of 50.6m units
- Pfizer (PFE) +0.45 (2.7%) to $17.41 on volume of 45.3m units
Precious Metals
Precious metals futures performed as follows –
| Precious Metals Futures | ||||
| Close | Gain(Loss) | % | ||
|---|---|---|---|---|
| Gold | 1101.4 | 5.7 | 0.52 | |
| Gold | 1103.8 | 8.1 | 0.74 | |
| Silver | 17.48 | 0.105 | 0.6 | |
| Silver | 17.59 | 0.215 | 1.24 | |
| Palladium | 335.95 | 5.25 | 1.59 | |
| Palladium | 335.45 | 4.75 | 1.44 | |
| Platinum | 1367.2 | 19 | 1.41 | |
| Platinum | 1363 | 14.8 | 1.1 | |
The Gold Bugs index (XAU) rose 7.01 points (4.03%) to 180.85 points. Total volume traded in the 16 components of the index was 127.92m shares. Advancers outpaced decliners by 15 to one, with 15 advancers to 1 decliners. Advancing volume exceeded declining volume by 123.38m to 4.54m shares. The biggest gainers (percentage-wise) were –
- GoldCorp (GG) +2.77 (6.7%) to $44 on volume of 18.39m shares;
- Silver Wheaton (SLW) +0.66 (4.7%) to $14.69 on volume of 7.78m shares;
- Yamana Gold (AUY) +0.56 (4.6%) to $12.61 on volume of 21.88m shares;
- Freeport McMoran (FCX) +3.64 (4.6%) to $83.2 on volume of 13.94m shares; and
- Kinroos Gold (KGC) +0.75 (4%) to $19.41 on volume of 9.37m shares.
Energy Complex
Energy futures performed as follows –
| Energy Futures | ||||
| Commodity | Close | Gain(Loss) | % | |
|---|---|---|---|---|
| Crude Oil | 79.27 | 1.84 | 2.38 | |
| Crude Oil | 79.43 | 2 | 2.58 | |
| Heating Oil | 2.0559 | 0.0524 | 2.62 | |
| Heating Oil | 2.0627 | 0.0592 | 2.95 | |
| Natural Gas | 4.665 | 0.07 | 1.52 | |
| Natural Gas | 4.67 | 0.075 | 1.63 | |
| Gasoline RBOB | 1.9748 | 0.0505 | 2.62 | |
| Gasoline RBOB | 1.9818 | 0.0575 | 2.99 | |
The Oil Services index (OSX) advanced 6.5 points (3.34%) to 201 points. Total volume traded in the 15 components of the index was 69.53m shares. Not a single stock declined withinin the index: 15 of the 15 index components rose, with total upside volume of 69.53mshares. The biggest gainers (percentage-wise) were –
- Rowan Co (RDC) +1.26 (5%) to $26.71 on volume of 2.85m shares;
- Baker Hughes (BHI) +1.88 (4.6%) to $43.06 on volume of 4.53m shares;
- National Oilwell Varco (NOV) +1.99 (4.6%) to $45.67 on volume of 5.27m shares;
- Weatherford International (WFT) +0.78 (4.4%) to $18.5 on volume of 9.52m shares; and
- BJ Services (BJS) +0.77 (4.1%) to $19.68 on volume of 2.74m shares.
Currency Futures
Currency futures performed as follows –
| Currency Futures | ||||
| Index | Close | Gain(Loss) | % | |
|---|---|---|---|---|
| U.S. Dollar Index | 75.14 | -0.8 | -1.05 | |
| Euro FX | 1.4996 | 0.0161 | 1.09 | |
| Australian Dollar | 0.9271 | 0.0142 | 1.56 | |
| Canadian Dollar | 0.9485 | 0.02 | 2.15 | |
| Japanese Yen | 0.011114 | -4e-06 | -0.04 | |
| New Zealand Dollar | 0.7404 | 0.0188 | 2.61 | |
Bellwethers
The nine-stock group that makes up the Rant bellwethers advanced on average by 1.8%. The fallout occurred as follows:
- General Electric (GE) +0.52 (3.39%) to $15.85 on volume of 100.54m units.
- Citigroup (C) +0.13 (3.2%) to $4.19 on volume of 230.59m units.
- Wal-Mart (WMT) +0.75 (1.46%) to $52.00 on volume of 14.9m units.
- IBM (IBM) +2.51 (2.03%) to $126.00 on volume of 7.52m units.
- Intel (INTC) +0.53 (2.8%) to $19.46 on volume of 50.59m units.
- Cisco Systems (CSCO) +0.17 (0.71%) to $23.99 on volume of 46.44m units.
- Google (GOOG) +11.41 (2.07%) to $562.51 on volume of 2.57m units.
- Fannie Mae (FNM) +0.01 (0.96%) to $1.05 on volume of 27m units.
- Freddie Mac (FRE) -0.01 (0.81%) to $1.22 on volume of 15.25m units.
Other Indices of Interest…
The Banks index (BKX) gained 1.52 points (3.55%) to 44.36 points. Total volume traded in the 24 components of the index was 640.85m shares. Not a single stock declined withinin the index: 22 of the 24 index components rose, with total upside volume of 640.85mshares. The biggest gainers (percentage-wise) were –
- New M&I Corporation (MI) +0.33 (6.3%) to $5.53 on volume of 9.53m shares;
- Fifth Third Bancorp (FITB) +0.56 (6.1%) to $9.73 on volume of 20.94m shares;
- Capital One Financial (COF) +2.11 (5.6%) to $39.78 on volume of 5.53m shares;
- State Street (STT) +2.28 (5.5%) to $43.73 on volume of 6.25m shares; and
- Suntrust Banks (STI) +1.07 (5.4%) to $21 on volume of 7.09m shares.
The Semiconductor index (SOX) was unchanged at 0 points. Total volume traded in the 18 components of the index was 187.49m shares. Not a single stock declined withinin the index: 17 of the 18 index components rose, with total upside volume of 187.49mshares. 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 –
- Micron Technology (MU) +0.43 (6.1%) to $7.51 on volume of 24.85m shares;
- Broadcom (BRCM) +1.41 (5.2%) to $28.29 on volume of 11.24m shares;
- Sandisk (SNDK) +1 (4.8%) to $21.82 on volume of 6.94m shares;
- Applied Materials (AMAT) +0.58 (4.7%) to $12.98 on volume of 21.83m shares; and
- National Semiconductor (NSM) +0.46 (3.5%) to $13.65 on volume of 3.78m shares.
The ChildKiller (“Defence”) index (DFX) advanced 7.31 points (2.29%) to 326.75 points. Total volume traded in the 17 components of the index was 124.7m shares. Not a single stock declined withinin the index: 16 of the 17 index components rose, with total upside volume of 124.7mshares. The biggest gainers (percentage-wise) were –
- Embraer Empresa (ERJ) +0.86 (4.2%) to $21.13 on volume of 1.02m shares;
- General Electric (GE) +0.52 (3.4%) to $15.85 on volume of 100.54m shares;
- Boeing (BA) +1.67 (3.4%) to $51.35 on volume of 4.19m shares;
- Northrop Grummanl (NOC) +1.56 (3%) to $53.93 on volume of 2.74m shares; and
- Gencorp (GY) +0.22 (2.8%) to $8 on volume of 0.44m shares.
