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USRant for Thursday, December 24th

Posted by GT on December 25, 2009 · Leave a Comment 

The following economic data was released during the session:

  • Continuing Jobless Claims for Dec 12 was released in the US; the series posted a reading of 5076K declining 110 from the prior reading of 5186K, – less than the consensus estimate of 5180K.
  • Durable Goods Orders for Nov was released in the US; the series posted a reading of 0.2% advancing 0.8 from the prior reading of -0.6%, – less than expectations of 0.4%.
  • Durable Goods Orders ex Transportation for Nov was released in the US; the outcome was 2.0% rising 3.3 from the prior reading of -1.3%, – above expectations of 0.9%.
  • Initial Jobless Claims for Dec 19 was released in the US; the outcome was 452K falling 28 from the prior reading of 480K, – less than the consensus estimate of 471K.
Headline Indices

The Dow Jones Industrial Average advanced +53.66 points (0.51%) to 10520.10 points. The index high for the day was 10522.06, while the low was 10461.68.

Total volume traded in the 30 components of the index was 331.45m shares. Advancers outpaced decliners by 8.7 to one, with 26 advancers to 3 decliners. Advancing volume exceeded declining volume by 318.25m to 13.2m shares. The biggest gainers (percentage-wise) were –

  • AIG (AIG) +0.71 (2.4%) to $30.12 on volume of 5.33m shares;
  • Alcoa (AA) +0.34 (2.1%) to $16.34 on volume of 14.33m shares;
  • Citigroup (C) +0.06 (1.8%) to $3.35 on volume of 145.41m shares;
  • United Technologies (UTX) +0.85 (1.2%) to $70.36 on volume of 1.25m shares; and
  • Intel (INTC) +0.23 (1.1%) to $20.33 on volume of 12.19m shares.

The S&P500 Index advanced +5.89 points (0.53%) to 1126.48 points..

Total volume traded in the 500 components of the index was 1bn shares. Advancers outpaced decliners by 4.1 to one, with 375 advancers to 91 decliners. Advancing volume exceeded declining volume by 866.38m to 120.97m shares. The biggest gainers (percentage-wise) were –

  • SanDisk Corporation (SNDK) +1.86 (6.6%) to $30.13 on volume of 10.08m shares;
  • American CapitalLtd. (ACAS) +0.12 (5%) to $2.53 on volume of 1.91m shares;
  • MBIA Inc. (MBI) +0.19 (4.6%) to $4.33 on volume of 5m shares;
  • MGIC Investment (MTG) +0.23 (4%) to $5.99 on volume of 3.32m shares; and
  • Block H&R (HRB) +0.76 (3.6%) to $21.59 on volume of 2.06m shares.

The Nasdaq Composite added +16.05 points (0.71%) to 2285.69 points. while the Nasdaq100 rose +17.85 points (0.96%) to 1869.84 points..

Total volume traded in the 100 components of the index was 207.33m shares. Advancers outpaced decliners by 3 to one, with 72 advancers to 24 decliners. Advancing volume exceeded declining volume by 165.26m to 37.08m shares. The biggest gainers (percentage-wise) were –

  • SanDisk (SNDK) +1.86 (6.6%) to $30.13 on volume of 10.08m shares;
  • Apple (AAPL) +6.94 (3.4%) to $209.04 on volume of 1789m shares;
  • Dell (DELL) +0.45 (3.1%) to $14.79 on volume of 12.87m shares;
  • Marvell Technology Group (MRVL) +0.61 (3%) to $20.68 on volume of 5.36m shares; and
  • Cadence Design Systems (CDNS) +0.17 (2.9%) to $6.02 on volume of 0.98m shares.

Volatility

The CBOE Volatility Index fell 0.24 points (1.22%) to 19.47 points. and the CBOE Nasdaq100 Volatility Index fell 0.2 points (1.02%) to 19.47 points..

Breadth and Internals

A total of 3810 issues traded today on the NYSE; today’s total volume was 1.43bn shares. A total of 2703 stocks posted gains for the day, and volume in advancing issues totalled 1.11bn shares. Exerting downwards pressure on the index were 960 losers, which accounted for a total declining volume of 0.29bn shares. 484 stocks made new 1-year highs on the NYSE, while 62 shares plumbed new 52-week depths.

On the Nasdaq 2760 tickers traded today; total Nasdaq volume was 0.63bn shares. A total of 1631 stocks posted gains for the day, with aggregate volume of 0.45bn shares changing hands in the day’s winners. The red zone of the Nasdaq exchange comprised 974 losers, and total declining volume was 0.16bn shares. 188 Nasdaq-listed stocks hit new 52-week highs, while 15 shares dipped to new 1-year lows

Major Market Statistics
Index Close Gain(Loss) %
Dow Jones Industrial Average 10520.10+53.660.51%
S&P500 Index 1126.48+5.890.53%
Nasdaq Composite 2285.69+16.050.71%
Nasdaq100 1869.84+17.850.96%
CBOE Volatility Index 19.47-0.24-1.22%
CBOE Nasdaq100 Volatility Index 19.47-0.20-1.02%

Dow Darlings

  • Alcoa (AA) +0.34 (2.1%) to $16.34 on volume of 14.3m units
  • United Technologies (UTX) +0.85 (1.2%) to $70.36 on volume of 1.3m units
  • Intel (INTC) +0.23 (1.1%) to $20.33 on volume of 12.2m units
  • American Express (AXP) +0.47 (1.1%) to $41.68 on volume of 2.1m units
  • Du Pont (DD) +0.36 (1.1%) to $33.42 on volume of 2.3m units

Dow Duds:

  • Merck (MRK) -0.26 (0.7%) to $36.99 on volume of 6.3m units
  • Disney Corp (DIS) -0.14 (0.4%) to $32.29 on volume of 3.6m units
  • Procter & Gamble (PG) -0.03 (0%) to $61.28 on volume of 3.4m units

Most Traded Dow stocks:

  • Bank Of America (BAC) +0.06 (0.4%) to $15.25 on volume of 36.6m units
  • General Electric (GE) +0.03 (0.2%) to $15.44 on volume of 18.6m units
  • Alcoa (AA) +0.34 (2.1%) to $16.34 on volume of 14.3m units
  • Pfizer (PFE) +0.02 (0.1%) to $18.6 on volume of 12.9m units
  • Intel (INTC) +0.23 (1.1%) to $20.33 on volume of 12.2m units
Precious Metals

Precious metals futures performed as follows –

Index
Precious Metals Futures
Close Gain(Loss) %
Gold 1104.8 10.8 0.99
Gold 1106.5 12.5 1.14
Silver 17.44 0.25 1.45
Silver 17.52 0.33 1.92
Palladium 389.65 32.3 9.04
Palladium 388.35 31 8.67
Platinum 1474 41.1 2.87
Platinum 1470.8 37.9 2.64

The Gold Bugs index (XAU) gained 0.64 points (0.37%) to 172.01 points. Total volume traded in the 16 components of the index was 27.52m shares. Advancers outpaced decliners by 2.2 to one, with 11 advancers to 5 decliners. Advancing volume exceeded declining volume by 22.47m to 5.05m shares. The biggest gainers (percentage-wise) were –

  • Coeur d’Alene (CDE) +0.25 (1.4%) to $18.58 on volume of 1.06m shares;
  • GoldCorp (GG) +0.47 (1.2%) to $40.5 on volume of 4.04m shares;
  • Silver Wheaton (SLW) +0.17 (1.1%) to $15.45 on volume of 2.39m shares;
  • Freeport McMoran (FCX) +0.88 (1.1%) to $81.81 on volume of 3.77m shares; and
  • Pan-American Silver (PAAS) +0.18 (0.7%) to $24.21 on volume of 0.28m shares.
Energy Complex

Energy futures performed as follows –

Energy Futures
Commodity Close Gain(Loss) %
Crude Oil 78.05 1.38 1.8
Crude Oil 78.05 1.38 1.8
Heating Oil 2.0562 0.0233 1.15
Heating Oil 2.0562 0.0233 1.15
Natural Gas 5.686 -0.166 -2.84
Natural Gas 5.686 -0.166 -2.84
Gasoline RBOB 2.0106 0.0238 1.2
Gasoline RBOB 2.0106 0.0238 1.2

The Oil Services index (OSX) gained 0.36 points (0.18%) to 197.25 points. Total volume traded in the 15 components of the index was 17.28m shares. Advancers outpaced decliners by 2.8 to one, with 11 advancers to 4 decliners. Advancing volume exceeded declining volume by 11.98m to 5.31m shares. The biggest gainers (percentage-wise) were –

  • Global Industries (GLBL) +0.15 (2.1%) to $7.2 on volume of 0.61m shares;
  • Rowan Co (RDC) +0.26 (1.1%) to $23.45 on volume of 1.18m shares;
  • Tidewater (TDW) +0.46 (1%) to $47.76 on volume of 0.16m shares;
  • BJ Services (BJS) +0.14 (0.7%) to $18.92 on volume of 0.51m shares; and
  • Baker Hughes (BHI) +0.19 (0.5%) to $41.02 on volume of 1.17m shares.
Currency Futures

Currency futures performed as follows –

Currency Futures
Index Close Gain(Loss) %
U.S. Dollar Index 78.175 -0.055 -0.07
Euro FX 1.4353 0.0019 0.13
Australian Dollar 0.877 0.0041 0.47
Canadian Dollar 0.9528 -0.0015 -0.16
Japanese Yen 0.010915 5e-06 0.05
New Zealand Dollar 0.7022 0.0017 0.24

Bellwethers

The nine-stock group that makes up the Rant bellwethers advanced on average by 0.2%. The fallout occurred as follows:

  • General Electric (GE) +0.03 (0.19%) to $15.44 on volume of 18.58m units.
  • Citigroup (C) +0.06 (1.82%) to $3.35 on volume of 145.41m units.
  • Wal-Mart (WMT) +0.28 (0.53%) to $53.60 on volume of 4.47m units.
  • IBM (IBM) +0.57 (0.44%) to $130.57 on volume of 4.26m units.
  • Intel (INTC) +0.23 (1.14%) to $20.33 on volume of 12.19m units.
  • Cisco Systems (CSCO) +0.18 (0.76%) to $23.96 on volume of 9.9m units.
  • Google (GOOG) +6.80 (1.11%) to $618.48 on volume of 0.86m units.
  • Fannie Mae (FNM) -0 (0%) to $1.05 on volume of 9.52m units.
  • Freddie Mac (FRE) -0.05 (3.82%) to $1.26 on volume of 8.07m units.
Other Indices of Interest…

The Banks index (BKX) added 0.47 points (1.1%) to 4334 points. Total volume traded in the 24 components of the index was 233.32m shares. Advancers outpaced decliners by 21 to one, with 21 advancers to 1 decliners. Advancing volume exceeded declining volume by 232.17m to 1.15m shares. The biggest gainers (percentage-wise) were –

  • Fifth Third Bancorp (FITB) +0.3 (3%) to $10.23 on volume of 5.46m shares;
  • Suntrust Banks (STI) +0.46 (2.3%) to $20.74 on volume of 2.01m shares;
  • Citigroup Inc (C) +0.06 (1.8%) to $3.35 on volume of 145.41m shares;
  • Comerica Inc (CMA) +0.54 (1.8%) to $30.16 on volume of 0.46m shares; and
  • Keycorp (KEY) +0.1 (1.8%) to $5.76 on volume of 3.06m shares.

The Semiconductor index (SOX) was unchanged at 0 points. Total volume traded in the 18 components of the index was 80.17m shares. Not a single stock declined withinin the index: 17 of the 18 index components rose, with total upside volume of 80.17mshares. 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 –

  • Sandisk (SNDK) +1.86 (6.6%) to $30.13 on volume of 10.08m shares;
  • Marvell Technology (MRVL) +0.61 (3%) to $20.68 on volume of 5.36m shares;
  • Advanced Micro Devices (AMD) +0.24 (2.5%) to $9.91 on volume of 11.33m shares;
  • Broadcom (BRCM) +0.65 (2.1%) to $32.19 on volume of 2.14m shares; and
  • Texas Instruments (TXN) +0.51 (2%) to $25.83 on volume of 3.98m shares.

The ChildKiller (“Defence”) index (DFX) advanced 2.33 points (0.69%) to 338.71 points. Total volume traded in the 17 components of the index was 25.35m shares. Advancers outpaced decliners by 15 to one, with 15 advancers to 1 decliners. Advancing volume exceeded declining volume by 24.53m to 0.83m shares. The biggest gainers (percentage-wise) were –

  • Gencorp (GY) +0.14 (2.1%) to $6.92 on volume of 0.5m shares;
  • ITT Corporation (ITT) +0.66 (1.3%) to $50.7 on volume of 0.32m shares;
  • United Technologies (UTX) +0.85 (1.2%) to $70.36 on volume of 1.25m shares;
  • FLIRr Systems (FLIR) +0.32 (1%) to $32.24 on volume of 0.26m shares; and
  • Esterline Tech (ESL) +0.39 (1%) to $41.23 on volume of 0.03m shares.

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