The following economic data was released during the session:

  • International Securities Transactions for October 2011 was released in Canada; the result was 2.03B a decline of 5.32 compared to the last data point (7.35B) , which was lower than expectations of 7.25B.
  • Consumer Price Index y/y for November 2011 was released in the US; the outcome was 3.4% falling 0.1 compared to the last data point (3.5%) , which was lower than the consensus estimate of 3.5%.
  • Consumer Price Index Ex Food & Energy y/y for November 2011 was released in the US; the series posted a reading of 2.2% a gain of 0.1 from the prior reading of 2.1% – above expectations of 2.1%.
  • Consumer Price Index Core Index s.a. for November 2011 was released in the US; the series posted a reading of 226.836 advancing 0.39 from the prior reading of 226.444
  • Consumer Price Index Ex Food & Energy m/m for November 2011 was released in the US; the series posted a reading of 0.2% adding 0.1 from the prior reading of 0.1% – above the consensus estimate of 0.1%.
  • Consumer Price Index m/m for November 2011 was released in the US; the series posted a reading of 0.0% gaining 0.1 from the prior reading of -0.1% , which was lower than the consensus estimate of 0.1%.
  • Consumer Price Index n.s.a. for November 2011 was released in the US; the outcome was 226.230 a decline of 0.19 compared to the last data point (226.421) – above the market's pre-release guess of 226.221.

Headline Indices

The Dow Jones Industrial Average declined 2.42 points (-0.02%) to 11866.39 points. The index high for the day was 11968.18 (a tease-tick of the prior high set in the first half-hour), while the low was 11819.31, set at about noon.

Total volume traded in the 30 components of the index was 1.02bn shares. Advancers outpaced decliners by 2.3 to one, with 21 advancers to 9 decliners. Advancing volume exceeded declining volume by 555.74m to 465.6m 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 –

 

  • Home Depot (HD) +1 (2.5%) to $40.42 on volume of 18.39m shares;
  • IBM (IBM) -3.91 (2.1%) to $183.57 on volume of 11.47m shares;
  • Microsoft (MSFT) +0.44 (1.7%) to $26 on volume of 85.16m shares;
  • United Technologies (UTX) -1.14 (1.6%) to $72.39 on volume of 11.41m shares; and
  • General Electric (GE) +0.22 (1.3%) to $17.01 on volume of 91.57m shares.

The S&P500 Index added +3.91 points (0.32%) to 1219.66 points..

Total volume traded in the 500 components of the index was 3.52bn shares. Advancers outpaced decliners by 1.8 to one, with 285 advancers to 155 decliners. Advancing volume exceeded declining volume by 2.09bn to 1.33bn shares. The biggest gainers (percentage-wise) were –

 

  • Adobe Systems (ADBE) +1.74 (6.6%) to $28.2 on volume of 13.98m shares;
  • Cameron International Corp. (CAM) +2.69 (6%) to $47.55 on volume of 8.96m shares;
  • Masco Corp. (MAS) +0.46 (5.3%) to $9.16 on volume of 7.86m shares;
  • Discover Financial Services (DFS) +1.16 (5%) to $24.23 on volume of 9.48m shares; and
  • MEMC Electronic Materials (WFR) +0.16 (4.4%) to $3.83 on volume of 31.52m shares.

The Nasdaq Composite rose +14.32 points (0.56%) to 2555.33 points. while the Nasdaq100 gained +11.47 points (0.52%) to 2238.18 points..

Total volume traded in the 100 components of the index was 904.07m shares. Advancers outpaced decliners by 2.5 to one, with 63 advancers to 25 decliners. Advancing volume exceeded declining volume by 463.26m to 430.28m shares. The biggest gainers (percentage-wise) were –

 

  • Vertex Pharmaceuticals (VRTX) +2.48 (7.9%) to $33.91 on volume of 9.16m shares;
  • Adobe Systems (ADBE) +1.74 (6.6%) to $28.2 on volume of 13.98m shares;
  • Hansen Natural (HANS) +3.95 (4.3%) to $95.89 on volume of 2.9m shares;
  • PETsMART (PETM) +1.78 (3.7%) to $50.49 on volume of 1.86m shares; and
  • Check Point Software Technologies (CHKP) +1.46 (2.8%) to $54.18 on volume of 3.11m shares.

Volatility

The CBOE Volatility Index slid 0.82 points (3.27%) to 24.29 points. and the CBOE Nasdaq100 Volatility Index dipped 1.32 points (5.32%) to 23.47 points..

Breadth and Internals

A total of 3180 issues traded today on the NYSE; today's total volume was 4.88bn shares. A total of 1896 stocks posted gains for the day, and volume in advancing issues totalled 3.07bn shares. Exerting downwards pressure on the index were 1171 losers, which accounted for a total declining volume of 1.65bn shares. 86 stocks made new 1-year highs on the NYSE, while 55 shares plumbed new 52-week depths.

On the Nasdaq 2650 tickers traded today; total Nasdaq volume was 2.44bn shares. A total of 1417 stocks posted gains for the day, with aggregate volume of 1.38bn shares changing hands in the day's winners. The red zone of the Nasdaq exchange comprised 1089 losers, and total declining volume was 1.03bn shares. 35 Nasdaq-listed stocks hit new 52-week highs, while 115 shares dipped to new 1-year lows.

 

Major Market Statistics
Index Close Gain(Loss) %
S&P500 Index 1219.66 +3.91 0.32%
Nasdaq100 2238.18 +11.47 0.52%
CBOE Nasdaq100 Volatility Index 23.47 -1.32 -5.32%

Dow Darlings

  • Home Depot (HD) +1 (2.5%) to $40.42 on volume of 18.4m units
  • Microsoft (MSFT) +0.44 (1.7%) to $26 on volume of 85.2m units
  • General Electric (GE) +0.22 (1.3%) to $17.01 on volume of 91.6m units
  • Chevron (CVX) +1.19 (1.2%) to $100.86 on volume of 12.4m units
  • American Express (AXP) +0.46 (1%) to $46.88 on volume of 11.2m units

 

Dow Duds:

  • IBM (IBM) -3.91 (2.1%) to $183.57 on volume of 11.5m units
  • United Technologies (UTX) -1.14 (1.6%) to $72.39 on volume of 11.4m units
  • Hewlett-Packard (HPQ) -0.32 (1.2%) to $25.84 on volume of 29.3m units
  • Bank Of America (BAC) -0.06 (1.1%) to $5.2 on volume of 221.9m units
  • McDonalds (MCD) -0.65 (0.7%) to $97.49 on volume of 8.6m units

 

Most Traded Dow stocks:

  • Bank Of America (BAC)-0.06 (1.1%) to $5.2 on volume of 221.9m units
  • General Electric (GE) +0.22 (1.3%) to $17.01 on volume of 91.6m units
  • Microsoft (MSFT) +0.44 (1.7%) to $26 on volume of 85.2m units
  • Intel (INTC)-0.08 (0.3%) to $23.23 on volume of 80.8m units
  • Pfizer (PFE)-0.11 (0.5%) to $21.03 on volume of 65.5m units
Precious Metals

Precious metals futures performed as follows –

Index

Precious Metals Futures
Close Gain(Loss) %
Gold 1597.9 20.7 1.31
Silver 29.671 0.397 1.36
Palladium 625.5 4.85 0.78
Platinum 1417.3 10.3 0.73

 

The Gold Bugs index (XAU) added 2.77 points (1.53%) to 183.33 points. Total volume traded in the 16 components of the index was 91.82m shares. Advancers outpaced decliners by 7 to one, with 14 advancers to 2 decliners. Advancing volume exceeded declining volume by 84.71m to 7.11m shares. The biggest gainers (percentage-wise) were –

  • Silver Stand Resources (SSRI) +0.69 (5.4%) to $13.49 on volume of 1.78m shares;
  • RandGold Resources (GOLD) +3.59 (3.7%) to $101.8 on volume of 1.49m shares;
  • Kinroos Gold (KGC) +0.4 (3.4%) to $12.09 on volume of 7.91m shares;
  • Silver Wheaton (SLW) +0.85 (3%) to $29.18 on volume of 6.21m shares; and
  • Pan-American Silver (PAAS) +0.49 (2.3%) to $22.15 on volume of 1.14m shares.
Energy Complex

Energy futures performed as follows –

Energy Futures
Commodity Close Gain(Loss) %
Crude Oil 93.75 -0.32 -0.34
Heating Oil 2.8106 -0.0214 -0.76
Natural Gas 3.204 -0.004 -0.12
Gasoline RBOB 2.4949 -0.0012 -0.05

 

The Oil Services index (OSX) added 4.05 points (1.96%) to 210.61 points. Total volume traded in the 15 components of the index was 78.15m shares. Advancers outpaced decliners by 11 to one, with 11 advancers to 1 decliners. Advancing volume exceeded declining volume by 74.81m to 3.35m shares. The biggest gainers (percentage-wise) were –

  • Cameron International (CAM) +2.69 (6%) to $47.55 on volume of 8.96m shares;
  • Oceaneering International (OII) +1.73 (3.9%) to $45.63 on volume of 1.53m shares;
  • Weatherford International (WFT) +0.37 (2.8%) to $13.51 on volume of 7.49m shares;
  • Baker Hughes (BHI) +1.11 (2.5%) to $45.93 on volume of 6.94m shares; and
  • Nabors Industries (NBR) +0.37 (2.3%) to $16.74 on volume of 5.45m shares.
Currency Futures

Currency futures performed as follows –

Currency Futures
Index Close Gain(Loss) %
U.S. Dollar Index 80.755 -0.237 -0.29
Euro FX 1.3037 0.0012 0.09

 

 

Bellwethers

The nine-stock group that makes up the Rant bellwethers declined on average by 0%. The fallout occurred as follows:

  • General Electric (GE) +0.22 (1.31%) to $17.01 on volume of 91.57m units.
  • Citigroup (C) +0.115 (0.44%) to $26.03 on volume of 48.47m units.
  • Wal-Mart (WMT) +0.32 (0.55%) to $58.27 on volume of 12.86m units.
  • IBM (IBM) -3.91 (2.09%) to $183.57 on volume of 11.47m units.
  • Intel (INTC) -0.08 (0.34%) to $23.23 on volume of 80.83m units.
  • Cisco Systems (CSCO) -0.1 (0.55%) to $17.94 on volume of 78.27m units.
  • Google (GOOG) +6.42 (1.04%) to $625.96 on volume of 4.15m 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) rose 0.21 points (0.56%) to 37.71 points Total volume traded in the 24 components of the index was 500.57m shares. Advancers outpaced decliners by 4.3 to one, with 17 advancers to 4 decliners. Advancing volume exceeded declining volume by 261.41m to 239.17m shares. The biggest gainers (percentage-wise) were –

  • State Street (STT) +0.93 (2.4%) to $40.04 on volume of 5.56m shares;
  • PNC Financial (PNC) +1.19 (2.2%) to $55.09 on volume of 5.12m shares;
  • BB&T Corp (BBT) +0.39 (1.6%) to $24.05 on volume of 8.84m shares;
  • Bank Of NY Mellon (BK) +0.3 (1.6%) to $19.12 on volume of 13.89m shares; and
  • Wells Fargo (WFC) +0.37 (1.4%) to $25.98 on volume of 38.04m shares.

The Semiconductor index (SOX) rose 2.82 points (0.81%) to 352.86 points. Total volume traded in the 18 components of the index was 209.92m shares. Advancers outpaced decliners by 3 to one, with 12 advancers to 4 decliners. Advancing volume exceeded declining volume by 115.35m to 94.57m shares. The biggest gainers (percentage-wise) were –

  • Teradyne (TER) +0.33 (2.6%) to $13.2 on volume of 4.49m shares;
  • Micron Technology (MU) +0.13 (2.3%) to $5.68 on volume of 20.25m shares;
  • Taiwan Semiconductor (TSM) +0.26 (2.1%) to $12.76 on volume of 13.38m shares;
  • Broadcom (BRCM) +0.56 (2%) to $28.72 on volume of 11.78m shares; and
  • Advanced Micro Devices (AMD) +0.09 (1.8%) to $5.13 on volume of 10.41m shares.

The ChildKiller ("Defence") index (DFX) declined 0.01 points (0%) to 346.71 points. Total volume traded in the 17 components of the index was 134.34m shares. Advancers outpaced decliners by 1.3 to one, with 9 advancers to 7 decliners. Advancing volume exceeded declining volume by 115.27m to 19.07m shares. The main decliners (in percentage terms) were –

  • L-3 Holdings (LLL) -1.16 (1.8%) to $64.45 on volume of 1.33m shares;
  • United Technologies (UTX) -1.14 (1.6%) to $72.39 on volume of 11.41m shares;
  • Teledyne Tech (TDY) -0.29 (0.5%) to $52.76 on volume of 038m shares;
  • Esterline Tech (ESL) -0.24 (0.5%) to $52.55 on volume of 0.4m shares; and
  • Embraer Empresa (ERJ) -0.09 (0.4%) to $23.57 on volume of 0.96m shares.