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USRant for Thursday, December 10th

Posted by GT on December 11, 2009 · Leave a Comment 

The following economic data was released during the session:

  • International Merchandise Trade for Oct was released in Canada; the outcome was $0.40B falling 0 from the prior reading of -$0.93B, – less than the market’s pre-release guess of -$0.60B.
  • Trade Balance for Oct was released in the US; the series posted a reading of -$32.90B losing 0 from the prior reading of -$35.65B, – less than the consensus estimate of -$36.90B.
  • Monthly Budget Statement for Nov was released in the US; the outcome was -120.3 an increase of 56.1 from the prior reading of -176.4B, – above expectations of -136.0B.
  • Initial Jobless Claims for Dec 5 was released in the US; the result was 474K an increase of 17 from the prior reading of 457K, – above expectations of 465K.
  • Continuing Jobless Claims for Nov 28 was released in the US; the result was 5157K a decline of 303 from the prior reading of 5460K, – less than the consensus estimate of 5450K.
Headline Indices

The Dow Jones Industrial Average rose +68.78 points (0.67%) to 10405.83 points. The index high for the day was 10444.60, while the low was 10335.77.

Total volume traded in the 30 components of the index was 1.12bn shares. Advancers outpaced decliners by 4.6 to one, with 23 advancers to 5 decliners. Advancing volume exceeded declining volume by 761.14m to 344.98m shares. The biggest gainers (percentage-wise) were –

  • Alcoa (AA) +0.42 (3.2%) to $13.5 on volume of 31.07m shares;
  • Disney Corp (DIS) +0.95 (3.1%) to $31.3 on volume of 13.21m shares;
  • Home Depot (HD) +0.44 (1.6%) to $27.99 on volume of 11.41m shares;
  • Caterpillar (CAT) +0.76 (1.4%) to $56.94 on volume of 6.1m shares; and
  • Coca-Cola (KO) +0.75 (1.3%) to $58.58 on volume of 15.25m shares.

The S&P500 Index advanced +6.40 points (0.58%) to 1102.35 points..

Total volume traded in the 500 components of the index was 3.41bn shares. Advancers outpaced decliners by 2.4 to one, with 328 advancers to 139 decliners. Advancing volume exceeded declining volume by 2.12bn to 1.24bn shares. The biggest gainers (percentage-wise) were –

  • Pall Corp. (PLL) +2.69 (8.6%) to $34.08 on volume of 3.03m shares;
  • Gannett Co. (GCI) +0.84 (7%) to $12.84 on volume of 14.71m shares;
  • UnitedHealth Group Inc. (UNH) +1.81 (6.4%) to $30.31 on volume of 26.24m shares;
  • CIGNA Corp. (CI) +203 (6.1%) to $35.58 on volume of 6.39m shares; and
  • Aetna Inc. (AET) +1.57 (5.2%) to $32.04 on volume of 9.83m shares.

The Nasdaq Composite gained +7.13 points (0.33%) to 2190.86 points. while the Nasdaq100 gained +9.67 points (0.54%) to 1799.37 points..

Total volume traded in the 100 components of the index was 681.1m shares. Advancers outpaced decliners by 1.9 to one, with 64 advancers to 34 decliners. Advancing volume exceeded declining volume by 464.86m to 216.24m shares. The biggest gainers (percentage-wise) were –

  • Focus Media Holding (FMCN) +1.2 (7.7%) to $16.69 on volume of 6.04m shares;
  • Starbucks (SBUX) +1.01 (4.7%) to $22.31 on volume of 21.03m shares;
  • Discovery Holding Co (DISCA) +1 (3.3%) to $31.71 on volume of 1.31m shares;
  • Amazon.com (AMZN) +4.07 (3.1%) to $135.38 on volume of 11.29m shares; and
  • NII Holdings (NIHD) +0.91 (2.9%) to $31.77 on volume of 2.23m shares.

Volatility

The CBOE Volatility Index dipped 0.33 points (1.46%) to 22.33 points. and the CBOE Nasdaq100 Volatility Index lost 0.14 points (0.6%) to 23.14 points..

Breadth and Internals

A total of 3887 issues traded today on the NYSE; today’s total volume was 4.48bn shares. A total of 2277 stocks posted gains for the day, and volume in advancing issues totalled 2.69bn shares. Exerting downwards pressure on the index were 1469 losers, which accounted for a total declining volume of 1.71bn shares. 235 stocks made new 1-year highs on the NYSE, while 32 shares plumbed new 52-week depths.

On the Nasdaq 2821 tickers traded today; total Nasdaq volume was 1.87bn shares. A total of 1040 stocks posted gains for the day, with aggregate volume of 0.98bn shares changing hands in the day’s winners. The red zone of the Nasdaq exchange comprised 1665 losers, and total declining volume was 0.88bn shares. 92 Nasdaq-listed stocks hit new 52-week highs, while 22 shares dipped to new 1-year lows.

Major Market Statistics
Index Close Gain(Loss) %
Dow Jones Industrial Average 10405.83+68.780.67%
S&P500 Index 1102.35+6.400.58%
Nasdaq Composite 2190.86+7.130.33%
Nasdaq100 1799.37+9.670.54%
CBOE Volatility Index 22.33-0.33-1.46%
CBOE Nasdaq100 Volatility Index 23.14-0.14-0.6%

Dow Darlings

  • Alcoa (AA) +0.42 (3.2%) to $13.5 on volume of 31.1m units
  • Disney Corp (DIS) +0.95 (3.1%) to $31.3 on volume of 13.2m units
  • Home Depot (HD) +0.44 (1.6%) to $27.99 on volume of 11.4m units
  • Caterpillar (CAT) +0.76 (1.4%) to $56.94 on volume of 6.1m units
  • Coca-Cola (KO) +0.75 (1.3%) to $58.58 on volume of 15.3m units

Dow Duds:

  • Bank Of America (BAC) -0.18 (1.2%) to $15.21 on volume of 253.7m units
  • Boeing (BA) -0.46 (0.8%) to $55.01 on volume of 5.6m units
  • Exxon-Mobil (XOM) -0.39 (0.5%) to $72.4 on volume of 23.2m units
  • General Electric (GE) -0.05 (0.3%) to $15.61 on volume of 55.5m units

Most Traded Dow stocks:

  • Bank Of America (BAC)-0.18 (1.2%) to $15.21 on volume of 253.7m units
  • General Electric (GE)-0.05 (0.3%) to $15.61 on volume of 55.5m units
  • Microsoft (MSFT) +0.16 (0.5%) to $29.87 on volume of 44.6m units
  • Intel (INTC) +0.14 (0.7%) to $20.15 on volume of 43m units
  • JPMorganChase (JPM) +0.08 (0.2%) to $41.27 on volume of 36.3m units
Precious Metals

Precious metals futures performed as follows –

Index
Precious Metals Futures
Close Gain(Loss) %
Gold 1126.2 5.3 0.47
Gold 1132.6 11.7 1.04
Silver 17.188 0.008 0.05
Silver 17.43 0.25 1.46
Palladium 365.1 -0.45 -0.12
Palladium 366.8 1.25 0.34
Platinum 1424.5 15.3 1.09
Platinum 1428 18.8 1.33

The Gold Bugs index (XAU) declined 0.51 points (0.29%) to 176.14 points. Total volume traded in the 16 components of the index was 84.9m shares. Decliners outpaced gainers by 2.2 to one, with 11 decliners to 5 advancers. Declining volume was greater than advancing volume by 55.61m to 29.3m shares. The main decliners (in percentage terms) were –

  • Silver Stand Resources (SSRI) -0.94 (3.9%) to $22.92 on volume of 1.9m shares;
  • AngloGold Ashanti (AU) -0.51 (1.2%) to $42.35 on volume of 1.92m shares;
  • Freeport McMoran (FCX) -0.63 (0.8%) to $77.74 on volume of 9.71m shares;
  • Coeur d’Alene (CDE) -0.16 (0.8%) to $19.76 on volume of 2.83m shares; and
  • Barrick Gold (ABX) -0.27 (0.7%) to $41.01 on volume of 13.22m shares.
Energy Complex

Energy futures performed as follows –

Energy Futures
Commodity Close Gain(Loss) %
Crude Oil 70.54 -0.13 -0.18
Crude Oil 70.49 -0.18 -0.25
Heating Oil 1.9029 -0.0064 -0.34
Heating Oil 1.901 -0.0083 -0.43
Natural Gas 5.298 0.4 8.17
Natural Gas 5.29 0.392 8
Gasoline RBOB 1.8351 -0.0222 -1.2
Gasoline RBOB 1.8325 -0.0248 -1.34

The Oil Services index (OSX) advanced 2.95 points (1.62%) to 185.6 points. Total volume traded in the 15 components of the index was 78.73m shares. Advancers outpaced decliners by 13 to one, with 13 advancers to 1 decliners. Advancing volume exceeded declining volume by 77.05m to 0.59m shares. The biggest gainers (percentage-wise) were –

  • National Oilwell Varco (NOV) +2.14 (5.1%) to $43.82 on volume of 7.83m shares;
  • Nabors Industries (NBR) +0.77 (3.9%) to $20.34 on volume of 7.59m shares;
  • Halliburton (HAL) +0.71 (2.6%) to $28.17 on volume of 14.56m shares;
  • Schlumberger (SLB) +1.46 (2.4%) to $61.48 on volume of 7.95m shares; and
  • Cameron International (CAM) +0.89 (2.4%) to $37.65 on volume of 2.58m shares.
Currency Futures

Currency futures performed as follows –

Currency Futures
Index Close Gain(Loss) %
U.S. Dollar Index 76.365 -0.065 -0.09
Euro FX 1.4719 0.0004 0.03
Australian Dollar 0.9167 0.0107 1.18
Canadian Dollar 0.9522 0.0033 0.35
Japanese Yen 0.011332 -6.7e-05 -0.59
New Zealand Dollar 0.7282 0.0159 2.23

Bellwethers

The nine-stock group that makes up the Rant bellwethers advanced on average by 0.5%. The fallout occurred as follows:

  • General Electric (GE) -0.05 (0.32%) to $15.61 on volume of 55.49m units.
  • Citigroup (C) +0.01 (0.26%) to $3.87 on volume of 393.91m units.
  • Wal-Mart (WMT) +0.62 (1.15%) to $54.69 on volume of 9.7m units.
  • IBM (IBM) +0.95 (0.74%) to $129.34 on volume of 6.89m units.
  • Intel (INTC) +0.14 (0.7%) to $20.15 on volume of 43.02m units.
  • Cisco Systems (CSCO) +0.08 (0.34%) to $23.94 on volume of 33.43m units.
  • Google (GOOG) +2.48 (0.42%) to $591.50 on volume of 1.63m units.
  • Fannie Mae (FNM) -0 (0%) to $0.92 on volume of 10.2m units.
  • Freddie Mac (FRE) +0.01 (0.9%) to $1.12 on volume of 7.51m units.
Other Indices of Interest…

The Banks index (BKX) declined 0.37 points (0.85%) to 43.15 points. Total volume traded in the 24 components of the index was 849.31m shares. Decliners outpaced gainers by 1.8 to one, with 14 decliners to 8 advancers; however advancing volume exceeded declining volume by 458.14m shares to 391.16m. The main decliners (in percentage terms) were –

  • New M&I Corporation (MI) -0.21 (3.5%) to $5.71 on volume of 5.17m shares;
  • Zions Bancorp (ZION) -0.46 (3.3%) to $13.52 on volume of 4.73m shares;
  • Wells Fargo (WFC) -0.64 (2.5%) to $25.32 on volume of 56.54m shares;
  • PNC Financial (PNC) -1.2 (2.2%) to $53.15 on volume of 3.99m shares; and
  • Fifth Third Bancorp (FITB) -0.21 (2%) to $10.08 on volume of 10.29m shares.

The Semiconductor index (SOX) was unchanged at 0 points. Total volume traded in the 18 components of the index was 194.89m shares. Decliners outpaced gainers by 1.8 to one, with 11 decliners to 6 advancers; however advancing volume exceeded declining volume by 98.38m shares to 96.51m. 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 –

  • Marvell Technology (MRVL) +0.4 (2.2%) to $18.67 on volume of 12.78m shares;
  • Teradyne (TER) -0.15 (1.5%) to $9.65 on volume of 4.93m shares;
  • Micron Technology (MU) +0.13 (1.5%) to $8.72 on volume of 16.97m shares;
  • Advanced Micro Devices (AMD) -0.13 (1.5%) to $8.58 on volume of 25.36m shares; and
  • National Semiconductor (NSM) -0.22 (1.4%) to $15.28 on volume of 6.57m shares.

The ChildKiller (“Defence”) index (DFX) rose 0.15 points (0.04%) to 335.64 points. Total volume traded in the 17 components of the index was 80.39m shares. Advancers outpaced decliners by 1.7 to one, with 10 advancers to 6 decliners; however declining volume was greater than advancing volume by 63.42m to 16.97m shares. The biggest gainers (percentage-wise) were –

  • L-3 Holdings (LLL) +0.83 (1%) to $82.01 on volume of 0.83m shares;
  • Raytheon (RTN) +0.43 (0.8%) to $52.23 on volume of 2.64m shares;
  • United Technologies (UTX) +0.52 (0.8%) to $67.93 on volume of 4.61m shares;
  • Lockheed Martin (LMT) +0.58 (0.8%) to $75.98 on volume of 3.17m shares; and
  • Northrop Grummanl (NOC) +0.39 (0.7%) to $54.79 on volume of 1.68m shares.

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