The following economic data was released during the session:

  • Unemployment Rate for July 2012 was released in the US; the outcome was 8.3% gaining 0.1 from the prior reading of 8.2% – above the market’s pre-release guess of 8.2%.
  • ISM Non-Manufacutring Composite for July 2012 was released in the US; the series posted a reading of 52.6 rising 0.5 from the prior reading of 52.1 – above expectations of 52.1.
  • Underemployment Rate for July 2012 was released in the US; the result was 15.0% an increase of 0.1 from the prior reading of 14.9%
  • Change in Household Employment for July 2012 was released in the US; the outcome was -195 falling 323 compared to the last data point (128)
  • Average Weekly Hours All Employees for July 2012 was released in the US; the outcome was 34.5 unchanged from the last data release for this series. , in line with the market’s pre-release guess of 34.5.
  • Ave rage Hourly Earnings All Employees y/y for July 2012 was released in the US; the outcome was 1.7% declining 0.3 compared to the last data point (2.0%) , in line with the consensus estimate of 1.7%.
  • Average Hourly Earnings All Employees m/m for July 2012 was released in the US; the series posted a reading of 0.1% dropping 0.2 compared to the last data point (0.3%) , which was lower than the market’s pre-release guess of 0.2%.
  • Change in Manufacturing Payrolls for July 2012 was released in the US; the series posted a reading of 25K gaining 15 from the prior reading of 10K – above the market’s pre-release guess of 10K.
  • Change in Private Payrolls for July 2012 was released in the US; the series posted a reading of 172K a gain of 99 from the prior reading of 73K – above the consensus estimate of 110K.
  • ICSC Chain Store Sales y/y for July 2012 was released in the US; the result was 1.9% rising 1.7 from the prior rea ding of 0.2%

Headline Indices

The Dow Jones Industrial Average finished the session at 13,096.17 points, a change of +217.29 points (1.69%) for the session.

The session high was 13,133.18 points, while the low was down at 12,884.82 points.

Total volume traded in the 30 components of the index was 528.93m shares. Advancers outpaced decliners by 28 to one, with 28 advancers to 1 decliners. Advancing volume exceeded declining volume by 512.39m to 12.13m shares. The biggest gainers (percentage-wise) were –

  • General Motors (GM) +0.9 (4.7%) to $20.04 on volume of 9.1m shares;
  • Citigroup (C) +1.22 (4.7%) to $27.4 on volume of 37.47m shares;
  • Hewlett-Packard (HPQ) +0.71 (4%) to $18.26 on volume of 17.53m shares;
  • Bank Of America (BAC) +0.25 (3.5%) to $7.43 on volume of 128.75m shares; and
  • United Technologies (UTX) +2.37 (3.2%) to $76.81 on volume of 3.84m shares.

 

The S&P500 Index rose + 25.99 points (1.9%) to 1390.99 points..

Total volume traded in the 500 components of the index was 2.24bn shares. Advancers outpaced decliners by 14.8 to one, with 415 advancers to 28 decliners. Advancing volume exceeded declining volume by 2.05bn to 183.17m shares. The biggest gainers (percentage-wise) were –

  • Interpublic Group (IPG) +1.29 (13.3%) to $10.97 on volume of 40.18m shares;
  • ITT Corporation (ITT) +2.09 (11.5%) to $20.27 on volume of 4.01m shares;
  • EOG Resources (EOG) +10.63 (11.1%) to $106.75 on volume of 5.02m shares;
  • Teradata Corp. (TDC) +5.4 (8%) to $72.7 on volume of 2.45m shares; and
  • PerkinElmer (PKI) +1.95 (7.9%) to $26.78 on volume of 1.97m shares.

The Nasdaq Composite rose +58.13 points (2%) to 2967.90 points. while the Nasdaq100 advanced +50.48 points (1.92%) to 2676.00 points..

Total volume traded in the 100 components of the index was 495.05m shares. Advancers outpaced decliners by 10.3 to one, with 82 advancers to 8 decliners. Advancing volume exceeded declining volume by 465.54m to 29.51m shares. The biggest gainers (percentage-wise) were –

  • Foster Wheeler (FWLT) +1.6 (8.9%) to $19.66 on volume of 2.78m shares;
  • Flextronics International (FLEX) +0.31 (5.1%) to $6.36 on volume of 5.47m shares;
  • Adobe Systems (ADBE) +1.44 (4.7%) to $32.02 on volume of 3.58m shares;
  • Citrix Systems (CTXS) +3.03 (4.4%) to $72.44 on volume of 2.74m shares; and
  • Monster Worldwide (MNST) +2.64 (4.1%) to $66.78 on volume of 1.32m shares.

Volatility

The CBOE Volatility Index slid 1.89 points (10.76%) to 15.68 points. and the CBOE Nasdaq100 Volatility Index dropped 1.45 points (7.6%) to 17.63 points..

Breadth and Internals

A total of 3182 issues traded today on the NYSE; today’s total volume was 3.5bn shares. A total of 2551 stocks posted gains for the day, and volume in advancing issues totalled 3.03bn shares. Exerting downwards pressure on the index were 540 losers, which accounted for a total declining volume of 0.45bn shares. 209 stocks made new 1-year highs on the NYSE, while 18 shares plumbed new 52-week depths.

On the Nasdaq 2601 tickers traded today; total Nasdaq volume was 1.7bn shares. A total of 1935 stocks posted gains for the day, with aggregate volume of 1.39bn shares changing hands in the day’s winners. The red zone of the Nasdaq exchange comprised 567 losers, and total declining volume was 0.3bn shares. 71 Nasdaq-listed stocks hit new 52-week highs, while 53 shares d ipped to new 1-year lows.

Major Market Statistics
Index Close Gain(Loss) %
Dow Jones Industrial Average 0.00 N/A 0%
S&P500 Index 1390.99 +25.99 1.9%
Nasdaq Composite 2967.90 +58.13 2%
Nasdaq100 2676.00 +50.48 1.92%
CBOE Volatility Index 15.68 -1.89 -10.76%
CBOE Nasdaq100 Volatility Index 17.63 -1.45 -7.6%

Dow Darlings

  • Hewlett-Packard (HPQ) +0.71 (4%) to $18.26 on volume of 17.5m units
  • Bank Of America (BAC) +0.25 (3.5%) to $7.43 on volume of 128.7m units
  • United Technologies (UTX) +2.37 (3.2%) to $76.81 on volume of 3.8m units
  • Procter & Gamble (PG) +1.99 (3.1%) to $65.5 on volume of 14.6m units
  • JPMorganChase (JPM) +0.92 (2.6%) to $36.09 on volume of 21.5m units

Dow Duds:

  • Verizon (VZ) -0.16 (0.4%) to $44.46 on volume of 12.1m units

Most Traded Dow stocks:

  • Bank Of America (BAC) +0.25 (3.5%) to $7.43 on volume of 128.7m units
  • General Electric (GE) +0.44 (2.1%) to $20.96 on volume of 35.5m units
  • Microsoft (MSFT) +0.56 (1.9%) to $29.75 on volume of 35.4m units
  • Pfizer (PFE) +0.36 (1.5%) to $24.28 on volume of 30.8m units
  • Intel (INTC) +0.545 (2.1%) to $26.23 on volume of 30.3m units
Precious Metals

Precious metals futures performed as follows –

Precious Metals Futures
Commodity Close Gain(Loss) %
Gold 1609.3 18.6 1.17
Silver 27.801 0.806 2.99
Palladium 578.2 10.35 1.82
Platinum 1414.4 26.6 1.92

The Gold Bugs index (XAU) advanced 2.6 points (1.76%) to 150.33 points. Total volume traded in the 16 components of the index was 67.82m shares. Not a single stock declined withinin the index: 16 of the 16 index components rose, with total upside volume of 67.82mshares. The biggest gainers (percentage-wise) were –

  • Kinroos Gold (KGC) +0.25 (3.3%) to $7.72 on volume of 13.16m shares;
  • Gold Fields Ltd (GFI) +0.36 (2.8%) to $13.32 on volume of 5.01m shares;
  • Freeport McMoran (FCX) +0.81 (2.5%) to $33.5 on volume of 11.61m shares;
  • Newmnt Mining (NEM) +1.05 (2.4%) to $44.67 on volume of 5.25m shares; and
  • Pan-American Silver (PAAS) +0.34 (2.3%) to $14.9 on volume of 1.41m shares.
Energy Complex

Energy futures performed as follows –

Energy Futures
Commodity Close Gain(Loss) %
Crude Oil 91.4 4.27 4.9
Heating Oil 2.9261 0.0838 2.95
Natural Gas 2.877 -0.043 -1.47
Gasoline RBOB 2.931 0.0614 2.14

The Oil Services index (OSX) advanced 5.89 points (2.73%) to 221.75 points. Total volume traded in the 15 components of the index was 48.92m shares. Not a single stock declined withinin the index: 12 of the 15 index components rose, with total upside volume of 48.92mshares. The biggest gainers (percentage-wise) were –

  • Cameron International (CAM) +2.42 (4.9%) to $52.09 on volume of 3.02m shares;
  • Noble Corp (NE) +1.54 (4.2%) to $37.91 on volume of 3.17m shares;
  • Nabors Industries (NBR) +0.54 (4%) to $13.94 on volume of 6.93m shares;
  • National Oilwell Varco (NOV) +2.62 (3.6%) to $75.36 on volume of 3.15m shares; and
  • Transocean Inc (RIG) +1.55 (3.3%) to $48.75 on volume of 3.4m shares.
Currency Futures

Currency futures performed as follows –

Currency Futures
Index Close Gain(Loss) %
U.S. Dollar Index 82.415 -1.036 -1.24
Euro FX 1.2382 0.0202 1.66

Bellwethers

The nine-stock group that makes up the Rant bellwethers advanced on average by 2%. The fallout occurred as follows:

  • General Electric (GE) +0.44 (2.14%) to $20.96 on volume of 35.55m units.
  • Citigroup (C) +1.22 (4.66%) to $27.40 on volume of 37.47m units.
  • Wal-Mart (WMT) +0.50 (0.68%) to $74.55 on volume of 8.03m units.
  • IBM (IBM) +4.07 (2.09%) to $198.52 on volume of 2.94m units.
  • Intel (INTC) +0.545 (2.12%) to $26.23 on volume of 30.31m units.
  • Cisco Systems (CSCO) +0.61 (3.88%) to $16.35 on volume of 40.5m units.
  • Google (GOOG) +12.58 (2%) to $641.33 on volume of 1.88m units.
  • Fannie Mae (FNM) -0 (0%) to $0.00 on volume of 0m units.
  • Freddie Mac (FRE) -0 (0%) to $0.00 on volume of 0m units.
Other Indices of Interest…

The Banks index (BKX) advanced 1.37 points (3.07%) to 46.06 points. Total volume traded in the 24 components of the index was 304.83m shares. Not a single stock declined withinin the index: 21 of the 24 index components rose, with total upside volume of 304.83mshares. The biggest gainers (percentage-wise) were –

  • Bank Of NY Mellon (BK) +1.08 (5.2%) to $21.75 on volume of 6.57m shares;
  • Zions Bancorp (ZION) +0.88 (4.9%) to $18.93 on volume of 2.35m shares;
  • Citigroup Inc (C) +1.22 (4.7%) to $27.4 on volume of 37.47m shares;
  • Capital One Financial (COF) +2.41 (4.4%) to $57.58 on volume of 4.15m shares; and
  • Keycorp (KEY) +0.31 (3.9%) to $8.24 on volume of 14.14m shares.

The Semiconductor index (SOX) advanced 8.62 points (2.26%) to 390.1 points. Total volume traded in the 18 components of the index was 128.15m shares. Not a single stock declined withinin the index: 16 of the 18 index components rose, with total upside volume of 128.15mshares. The biggest gainers (per centage-wise) were –

  • ST Microelectronic (STM) +0.44 (8.5%) to $5.61 on volume of 2.64m shares;
  • Texas Instruments (TXN) +1.02 (3.7%) to $28.27 on volume of 8.55m shares;
  • Teradyne (TER) +0.45 (3.1%) to $14.81 on volume of 2.49m shares;
  • Advanced Micro Devices (AMD) +0.12 (3%) to $4.09 on volume of 8.06m shares; and
  • Micron Technology (MU) +0.17 (2.8%) to $6.33 on volume of 22.33m shares.

The ChildKiller (“Defence”) index (DFX) added 10.17 points (2.76%) to 378.55 points. Total volume traded in the 17 components of the index was 58m shares. Not a single stock declined withinin the index: 16 of the 17 index components rose, with total upside volume of 58mshares. The biggest gainers (percentage-wise) were –

  • ITT Corporation (ITT) +2.09 (11.5%) to $20.27 on volume of 4.01m shares;
  • Esterline Tech (ESL) +2.03 (3.7%) to $56.97 on volume of 0.13m shares;
  • Gencorp (GY) +0.27 (3.4%) to $8.14 on volume of 0.47m shares;
  • Embraer Empresa (ERJ) +0.77 (3.2%) to $24.65 on volume of 1.86m shares; and
  • United Technologies (UTX) +2.37 (3.2%) to $76.81 on volume of 3.84m shares.