The following economic data was released during the session:

  • Challenger Job Cuts y/y for July 2012 was released in the US; the series posted a reading of -44.5% a drop of 35.1 compared to the last data point (-9.4%)
  • Factory Orders for June 2012 was released in the US; the result was -0.5% dropping 1 compared to the last data point (0.5%) , which was lower than expectations of 0.5%.
  • RBC Consumer Outlook Index for August 2012 was released in the US; the outcome was 46.4 declining 0.6 compared to the last data point (47.0)
  • Initial Jobless Claims for July 28 2012 was released in the US; the series posted a reading of 365K rising 8 from the prior reading of 357K , which was lower than the consensus estimate of 370K.
  • Continuing Claims for July 21 2012 was released in the US; the outcome was 3272K a decline of 19 compared to the last data point (3291K) , which was lower than the consensus es timate of 3288K.
  • ISM New York for July 2012 was released in the US; the result was 55.2 a gain of 5.5 from the prior reading of 49.7
  • EIA Natural Gas Storage Change for July 27 2012 was released in the US; the series posted a reading of 28 rising 2 from the prior reading of 26 – above expectations of 23.

Headline Indices

The Dow Jones Industrial Average finished the session at 12,878.88 points, a change of -92.18 points (-0.71%) for the session.

The session high was 12,969.85 points, while the low was down at 12,778.90 points.

Total volume traded in the 30 components of the index was 516.54m shares. Decliners outpaced gainers by 6.3 to one, with 25 decliners to 4 advancers. Declining volume was greater than advancing volume by 479.15m to 26.69m shares. The main decliners (in percentage terms) were –

  • Alcoa (AA) -0.25 (3%) to $8.18 on volume of 20.1m shares;
  • General Motors (GM) -0.52 (2.6%) to $19.14 on volume of 10.3m shares;
  • JPMorganChase (JPM) -0.83 (2.3%) to $35.17 on volume of 31m shares;
  • Citigroup (C) -0.59 (2.2%) to $26.18 on volume of 26.99m shares; and
  • Du Pont (DD) -0.92 (1.8%) to $49.02 on volume of 5.46m shares.

 

The S&P500 Index declined 10.14 points (0.74%) to 1365.00 points..

Total volume traded in the 500 components of the index was 2.48bn shares. Decliners outpaced gainers by 3.8 to one, with 349 decliners to 92 advancers. Declining volume was greater than advancing volume by 2.02bn to 430.39m shares. The main decliners (in percentage terms) were –

  • MGIC Investment (MTG) -1.5699 (64.1%) to $0.8801 on volume of 52.22m shares;
  • Sealed Air Corp.(New) (SEE) -2.65 (16.8%) to $13.15 on volume of 23.4m shares;
  • Abercrombie & Fitch Co. (ANF) -4.96 (14.6%) to $29.06 on volume of 15.11m shares;
  • Bristol-Myers Squibb (BMY) -3.05 (8.6%) to $32.55 on volume of 43.35m shares; and
  • < li>Genworth Financial Inc. (GNW) -0.36 (8%) to $4.12 on volume of 23.3m shares.

The Nasdaq Composite lost 10.44 points (0.36%) to 2909.77 points. while the Nasdaq100 lost 9.61 points (0.36%) to 2625.52 points..

Total volume traded in the 100 components of the index was 578.63m shares. Decliners outpaced gainers by 2.3 to one, with 61 decliners to 27 advancers. Declining volume was greater than advancing volume by 423.81m to 141.11m shares. The main decliners (in percentage terms) were –

  • Leap Wireless International (LEAP) -0.33 (5.8%) to $5.32 on volume of 1.92m shares;
  • Flextronics International (FLEX) -0.26 (4.1%) to $6.05 on volume of 4.11m shares;
  • Steel Dynamics (STLD) -0.47 (3.7%) to $12.38 on volume of 3.41m shares;
  • Logitech International (LOGI) -0.3 (3.5%) to $8.39 on volume of 1.61m shares; and
  • PACCAR (PCAR) -1.32 (3.3%) to $38.57 on volume of 4.3m shares.

Volatility

The CBOE Volatility Index fell 1.32 points (6.96%) to 17.64 points. and the CBOE Nasdaq100 Volatility Index lost 1.03 points (5.1%) to 19.16 points..

Breadth and Internals

A total of 3197 issues traded today on the NYSE; today’s total volume was 3.8bn shares. A total of 1148 stocks posted gains for the day, and volume in advancing issues totalled 0.72bn shares. Exerting downwards pressure on the index were 1930 losers, which accounted for a total declining volume of 3.05bn shares. 104 stocks made new 1-year highs on the NYSE, while 64 shares plumbed new 52-week depths.

On the Nasdaq 2563 tickers traded today; total Nasdaq volume was 1.8bn shares. A total of 1025 stocks posted gains for the day, with aggregate volume of 0.58bn shares changing hands in the day’s winners. The red zone of the Nasdaq exchange comprised 1431 losers, and total declining volume was 1.18bn shares. 26 Nasdaq-listed stocks hit new 52-week highs, while 94 shares di pped to new 1-year lows.

Major Market Statistics
Index Close Gain(Loss) %
Dow Jones Industrial Average 0.00 N/A 0%
S&P500 Index 1365.00 -10.14 -0.74%
Nasdaq Composite 2909.77 -10.44 -0.36%
Nasdaq100 2625.52 -9.61 -0.36%
CBOE Volatility Index 17.64 -1.32 -6.96%
CBOE Nasdaq100 Volatility Index 19.16 -1.03 -5.1%

Dow Darlings

  • Wal-Mart (WMT) +0.43 (0.6%) to $74.05 on volume of 7.2m units
  • Caterpillar (CAT) +0.47 (0.6%) to $83.12 on volume of 7.9m units
  • Disney Corp (DIS) +0.16 (0.3%) to $48.98 on volume of 7.9m units
  • McDonalds (MCD) +0.16 (0.2%) to $89.59 on volume of 3.7m units

Dow Duds:

  • Alcoa (AA) -0.25 (3%) to $8.18 on volume of 20.1m units
  • JPMorganChase (JPM) -0.83 (2.3%) to $35.17 on volume of 31m units
  • Du Pont (DD) -0.92 (1.8%) to $49.02 on volume of 5.5m units
  • Coca-Cola (KO) -1.26 (1.6%) to $79.75 on volume of 5.6m units
  • Johnson & Johnson (JNJ) -0.93 (1.3%) to $68.45 on volume of 11.7m units

Most Traded Dow stocks:

  • Bank Of America (BAC)-0.04 (0.6%) to $7.18 on volume of 108m units
  • Microsoft (MSFT)-0.22 (0.7%) to $29.19 on volume of 39.2m units
  • General Electric (GE)-0.21 (1%) to $20.52 on volume of 36.7m units
  • Intel (INTC)-0.02 (0.1%) to $25.91 on volume of 34m units
  • JPMorganChase (JPM)-0.83 (2.3%) to $35.17 on volume of 31m units
Precious Metals

Precious metals futures performed as follows –

Precious Metals Futures
Commodity Close Gain(Loss) %
Gold 1590.7 -16.6 -1.03
Silver 26.995 -0.54 -1.96
Palladium 567.85 -14.75 -2.53
Platinum 1387.8 -13.5 -0.96

The Gold Bugs index (XAU) dipped 1.38 points (0.93%) to 147.73 points. Total volume traded in the 16 components of the index was 72.77m shares. Decliners outpaced gainers by 1.7 to one, with 10 decliners to 6 advancers. Declining volume was greater than advancing volume by 64.65m to 8.12m shares. The main decliners (in percentage terms) were –

  • Kinroos Gold (KGC) -0.47 (5.9%) to $7.47 on volume of 20.69m shares;
  • Freeport McMoran (FCX) -0.8 (2.4%) to $32.69 on volume of 12.68m shares;
  • Newmnt Mining (NEM) -0.79 (1.8%) to $43.62 on volume of 4.34m shares;
  • Pan-American Silver (PAAS) -0.2 (1.4%) to $14.56 on volume of 1.3m shares; and
  • Agnico Eagle Mines (AEM) -0.59 (1.3%) to $43.51 on volume of 1.99m shares.
Energy Complex

Energy futures performed as follows –

Energy Futures
Commodity Close Gain(Loss) %
Crude Oil 87.13 -1.78 -2
Heating Oil 2.8423 -0.0165 -0.58
Natural Gas 2.92 -0.251 -7.92
Gasoline RBOB 2.8696 0.0354 1.25

The Oil Services index (OSX) dipped 2.93 points (1.34%) to 215.86 points. Total volume traded in the 15 components of the index was 59.83m shares. None of the 15 index components rose today: 12 stocks within the index fell, with downside volume of 59.83m shares. The main decliners (in percentage terms) were –

  • Weatherford International (WFT) -0.42 (3.5%) to $11.66 on volume of 9.14m shares;
  • Nabors Industries (NBR) -0.35 (2.5%) to $13.4 on volume of 9.01m shares;
  • Rowan Co (RDC) -0.86 (2.4%) to $34.84 on volume of 2.18m shares;
  • Noble Corp (NE) -0.76 (2%) to $36.37 on volume of 3.18m shares; and
  • Halliburton (HAL) -0.55 (1.6%) to $32.86 on volume of 12.69m shares.
Currency Futures

Currency futures performed as follows –

Currency Futures
Index Close Gain(Loss) %
U.S. Dollar Index 83.415 0.237 0.28
Euro FX 1.218 -0.0063 -0.51

Bellwethers

The nine-stock group that makes up the Rant bellwethers declined on average by 0.6%. The fallout occurred as follows:

  • General Electric (GE) -0.21 (1.01%) to $20.52 on volume of 36.7m units.
  • Citigroup (C) -0.59 (2.2%) to $26.18 on volume of 26.99m units.
  • Wal-Mart (WMT) +0.43 (0.58%) to $74.05 on volume of 7.22m units.
  • IBM (IBM) -0.73 (0.37%) to $194.45 on volume of 2.41m units.
  • Intel (INTC) -0.02 (0.08%) to $25.91 on volume of 34.03m units.
  • Cisco Systems (CSCO) -0.24 (1.5%) to $15.74 on volume of 47.03m units.
  • Google (GOOG) -3.93 (0.62%) to $628.75 on volume of 1.94m 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) dipped 0.6 points ( 1.32%) to 44.69 points. Total volume traded in the 24 components of the index was 302.09m shares. Decliners outpaced gainers by 20 to one, with 20 decliners to 1 advancers. Declining volume was greater than advancing volume by 298.7m to 3.39m shares. The main decliners (in percentage terms) were –

  • JPMorganChase (JPM) -0.83 (2.3%) to $35.17 on volume of 31m shares;
  • Bank Of NY Mellon (BK) -0.48 (2.3%) to $20.67 on volume of 6.05m shares;
  • Citigroup Inc (C) -0.59 (2.2%) to $26.18 on volume of 26.99m shares;
  • Northern Trust (NTRS) -0.96 (2.1%) to $44.09 on volume of 1.44m shares; and
  • Regions Financial (RF) -0.14 (2%) to $6.72 on volume of 21.09m shares.

The Semiconductor index (SOX) slid 2.35 points (0.61%) to 381.48 points. Total volume traded in the 18 components of the index was 148.06m shares. Decliners outpaced gainers by 6.5 to one, with 13 decliners to 2 advancers. Declining volume was greater than advancing volume by 132.59m to 3.71m shares. The main decliners (in percentage terms) were –

  • ST Microelectronic (STM) -0.24 (4.4%) to $5.17 on volume of 2.56m shares;
  • Advanced Micro Devices (AMD) -0.08 (2%) to $3.97 on volume of 15.74m shares;
  • Micron Technology (MU) -0.11 (1.8%) to $6.16 on volume of 17.56m shares;
  • Sandisk (SNDK) -0.68 (1.6%) to $40.75 on volume of 4.61m shares; and
  • Altera (ALTR) -0.52 (1.5%) to $35.13 on volume of 3.42m shares.

The ChildKiller (“Defence”) index (DFX) dipped 4.78 points (1.28%) to 368.38 points. Total volume traded in the 17 components of the index was 56.43m shares. Decliners outpaced gainers by 15 to one, with 15 decliners to 1 advancers. Declining volume was greater than advancing volume by 56.27m to 0.16m shares. The main decliners (in percentage terms) were –

  • Esterline Tech (ESL) -2.09 (3.7%) to $54.94 on volume of 0.16m shares;
  • Embraer Empresa (ERJ) -0.73 (3%) to $23.88 on volum e of 1.36m shares;
  • Gencorp (GY) -0.17 (2.1%) to $7.87 on volume of 0.59m shares;
  • ITT Corporation (ITT) -0.35 (1.9%) to $18.18 on volume of 1.25m shares; and
  • L-3 Holdings (LLL) -1.29 (1.8%) to $68.58 on volume of 0.41m shares.