The following economic data was released during the session:

  • Housing Starts for July 2012 was released in Canada; the result was 208.5K losing 13.6 compared to the last data point (222.1K) , which was lower than the consensus estimate of 211.5K.
  • New Housing Price Index y/y for June 2012 was released in Canada; the result was 2.3% losing 0.1 compared to the last data point (2.4%) , in line with the consensus estimate of 2.3%.
  • International Merchandise Trade for June 2012 was released in Canada; the series posted a reading of -1.81B a drop of 0.86 compared to the last data point (-0.95B) , which was lower than expectations of -1.00B.
  • New Housing Price Index m/m for June 2012 was released in Canada; the outcome was 0.2% sliding 0.1 compared to the last data point (0.3%) , in line with expectations of 0.2%.
  • Wholesale Inventories for June 2012 was released in the US; the outcome was -0.2% sl iding 0.2 compared to the last data point (0.0%) , which was lower than the consensus estimate of 0.3%.
  • Trade Balance for June 2012 was released in the US; the result was -$42.9B unchanged from the last data release for this series. , in line with expectations of -$47.5B.
  • Initial Jobless Claims for August 4 2012 was released in the US; the series posted a reading of 361K losing 6 compared to the last data point (367K) , which was lower than the consensus estimate of 370K.
  • Continuing Claims for July 28 2012 was released in the US; the series posted a reading of 3332K gaining 53 from the prior reading of 3279K – above expectations of 3275K.
  • EIA Natural Gas Storage Change for August 3 2012 was released in the US; the series posted a reading of 24 a decline of 4 compared to the last data point (28) , which was lower than the market’s pre-release guess of 30.

Headline Indices

The Dow Jones Industrial Average finished the session at 13,165.19 points, a change of -10.45 points (-0.08%) for the session.

The session high was 13,200.23 points, while the low was down at 13,125.09 points.

Total volume traded in the 30 components of the index was 360.44m shares. Advancers outpaced decliners by 1.3 to one, with 16 advancers to 12 decliners. Advancing volume exceeded declining volume by 240.62m to 85.84m shares. The main decliners (in percentage terms) were –

  • American Express (AXP) -1.44 (2.5%) to $56.47 on volume of 5.81m shares;
  • Disney Corp (DIS) -0.53 (1%) to $49.96 on volume of 10.11m shares;
  • JPMorganChase (JPM) -0.24 (0.6%) to $36.92 on volume of 20.95m shares;
  • Wal-Mart (WMT) -0.46 (0.6%) to $73.85 on volume of 4.92m shares; and
  • United Technologies (UTX) -0.45 (0.6%) to $77.03 on volume of 2.26m shares.

 

The S&P500 Index gained +0.58 points (0.04%) to 1402.80 points..

Total volume traded in th e 500 components of the index was 1.97bn shares. Advancers outpaced decliners by 1.2 to one, with 238 advancers to 199 decliners. Advancing volume exceeded declining volume by 1.27bn to 656.55m shares. The biggest gainers (percentage-wise) were –

  • MBIA Inc. (MBI) +1.3 (14.8%) to $10.06 on volume of 8.53m shares;
  • MEMC Electronic Materials (WFR) +0.32 (14%) to $2.6 on volume of 10.58m shares;
  • Electronic Data Systems (EDS) +0.18 (9%) to $2.18 on volume of 0.02m shares;
  • E*Trade Financial Corp. (ETFC) +0.55 (6.9%) to $8.57 on volume of 18.53m shares; and
  • CONSOL Energy Inc. (CNX) +1.98 (6.4%) to $33.08 on volume of 5.76m shares.

The Nasdaq Composite rose +7.39 points (0.25%) to 3018.64 points. while the Nasdaq100 rose +5.59 points (0.21%) to 2719.61 points..

Total volume traded in the 100 components of the index was 578.3m shares. Advancers outpaced decliners by 1.2 to one, with 46 advancers to 40 decliners. Adv ancing volume exceeded declining volume by 321.43m to 250.75m shares. The biggest gainers (percentage-wise) were –

  • Leap Wireless International (LEAP) +0.54 (12.2%) to $4.96 on volume of 6.83m shares;
  • NII Holdings (NIHD) +0.49 (7.9%) to $6.66 on volume of 9.15m shares;
  • Logitech International (LOGI) +0.35 (4.2%) to $8.76 on volume of 1.04m shares;
  • NVIDIA (NVDA) +0.48 (3.4%) to $14.71 on volume of 19.05m shares; and
  • Juniper Networks (JNPR) +0.63 (3.4%) to $19.4 on volume of 10.22m shares.

Volatility

The CBOE Volatility Index dipped 0.04 points (0.26%) to 15.28 points. and the CBOE Nasdaq100 Volatility Index declined 0.55 points (3.24%) to 16.42 points..

Breadth and Internals

A total of 3193 issues traded today on the NYSE; today’s total volume was 2.94bn shares. A total of 1695 stocks posted gains for the day, and volume in advancing issues totalled 1.86bn shares. Exerting downwards pressure on the index were 1368 losers, which accounted for a total declining volume of 1bn shares. 136 stocks made new 1-year highs on the NYSE, while 10 shares plumbed new 52-week depths.

On the Nasdaq 2587 tickers traded today; total Nasdaq volume was 1.65bn shares. A total of 1355 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 1110 losers, and total declining volume was 0.64bn shares. 62 Nasdaq-listed stocks hit new 52-week highs, while 40 sha res dipped to new 1-year lows.

Major Market Statistics
Index Close Gain(Loss) %
Dow Jones Industrial Average 0.00 N/A 0%
S&P500 Index 1402.80 +0.58 0.04%
Nasdaq Composite 3018.64 +7.39 0.25%
Nasdaq100 2719.61 +5.59 0.21%
CBOE Volatility Index 15.28 -0.04 -0.26%
CBOE Nasdaq100 Volatility Index 16.42 -0.55 -3.24%

Dow Darlings

  • Caterpillar (CAT) +1.18 (1.4%) to $88.4 on volume of 6.2m units
  • Home Depot (HD) +0.36 (0.7%) to $53.15 on volume of 7.6m units
  • Alcoa (AA) +0.06 (0.7%) to $8.86 on volume of 15.8m units
  • Bank Of America (BAC) +0.05 (0.7%) to $7.72 on volume of 53.9m units
  • Microsoft (MSFT) +0.17 (0.6%) to $30.5 on volume of 22.9m units

Dow Duds:

  • American Express (AXP) -1.44 (2.5%) to $56.47 on volume of 5.8m units
  • Disney Corp (DIS) -0.53 (1%) to $49.96 on volume of 10.1m units
  • JPMorganChase (JPM) -0.24 (0.6%) to $36.92 on volume of 20.9m units
  • Wal-Mart (WMT) -0.46 (0.6%) to $73.85 on volume of 4.9m units
  • United Technologies (UTX) -0.45 (0.6%) to $77.03 on volume of 2.3m units

Most Traded Dow stocks:

  • Bank Of America (BAC) +0.05 (0.7%) to $7.72 on volume of 53.9m units
  • General Electric (GE) +0.05 (0.2%) to $21.06 on volume of 27.3m units
  • Intel (INTC) +0.1 (0.4%) to $26.7 on volume of 26.1m units
  • Microsoft (MSFT) +0.17 (0.6%) to $30.5 on volume of 22.9m units
  • Pfizer (PFE) +0.04 (0.2%) to $23.87 on volume of 22.6m units
Precious Metals

Precious metals futures performed as follows –

Precious Metals Futures
Commodity Close Gain(Loss) %
Gold 1620.2 4.2 0.26
Silver 28.097 0.022 0.08
Palladium 586.7 0.2 0.03
Platinum 1412.8 2.6 0.18

The Gold Bugs index (XAU) gained 1.94 points (1.25%) to 157.44 points. Total volume traded in the 16 components of the index was 54.57m shares. Advancers outpaced decliners by 15 to one, with 15 advancers to 1 decliners. Advancing volume exceeded declining volume by 53.67m to 0.89m shares. The biggest gainers (percentage-wise) were –

  • Coeur d’Alene (CDE) +0.73 (3.9%) to $19.49 on volume of 2.85m shares;
  • RandGold Resources (GOLD) +3.56 (3.8%) to $98.28 on volume of 0.52m shares;
  • Silver Stand Resources (SSRI) +0.39 (3%) to $13.47 on volume of 0.56m shares;
  • Kinroos Gold (KGC) +0.23 (2.9%) to $8.06 on volume of 10.64m shares; and
  • Harmony Gold (HMY) +0.26 (2.6%) to $10.14 on volume of 0.85m shares.
Energy Complex

Energy futures performed as follows –

Energy Futures
Commodity Close Gain(Loss) %
Crude Oil 93.36 0.01 0.01
Heating Oil 3.045 0.0291 0.96
Natural Gas 2.945 0.012 0.41
Gasoline RBOB 3.0008 0.0204 0.68

The Oil Services index (OSX) rose 2.62 points (1.16%) to 228.13 points. Total volume traded in the 15 components of the index was 53.33m shares. Advancers outpaced decliners by 5 to one, with 10 advancers to 2 decliners. Advancing volume exceeded declining volume by 52.24m to 1.09m shares. The biggest gainers (percentage-wise) were –

  • Nabors Industries (NBR) +0.42 (2.8%) to $15.63 on volume of 16.4m shares;
  • Weatherford International (WFT) +0.34 (2.7%) to $13.07 on volume of 7.42m shares;
  • Baker Hughes (BHI) +0.91 (1.9%) to $48.43 on volume of 4.11m shares;
  • Halliburton (HAL) +0.43 (1.2%) to $35.05 on volume of 10.23m shares; and
  • Noble Corp (NE) +0.43 (1.1%) to $38.22 on volume of 2.48m shares.
Currency Futures

Currency futures performed as follows –

Currency Futures
Index Close Gain(Loss) %
U.S. Dollar Index 82.685 0.246 0.3
Euro FX 1.23 -0.006 -0.49

Bellwethers

The nine-stock group that makes up the Rant bellwethers advanced on average by 0.3%. The fallout occurred as follows:

  • General Electric (GE) +0.05 (0.24%) to $21.06 on volume of 27.28m units.
  • Citigroup (C) -0 (0%) to $28.86 on volume of 15.37m units.
  • Wal-Mart (WMT) -0.46 (0.62%) to $73.85 on volume of 4.92m units.
  • IBM (IBM) -0.61 (0.31%) to $198.42 on volume of 1.9m units.
  • Intel (INTC) +0.10 (0.38%) to $26.70 on volume of 26.07m units.
  • Cisco Systems (CSCO) +0.54 (3.15%) to $17.70 on volume of 60.6m units.
  • Google (GOOG) +0.12 (0.02%) to $642.35 on volume of 1.05m 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 0.05 points (0.11%) to 46.58 points. Total volume traded in the 24 components of the index was 166m shares. Advancers outpaced decliners by 2.8 to one, with 14 advancers to 5 decliners. Advancing volume exceeded declining volume by 102.2m to 37.58m shares. The biggest gainers (percentage-wise) were –

  • Suntrust Banks (STI) +0.32 (1.3%) to $24.7 on volume of 3.52m shares;
  • State Street (STT) +0.43 (1%) to $41.81 on volume of 2.36m shares;
  • Regions Financial (RF) +0.05 (0.7%) to $6.97 on volume of 14.47m shares;
  • Bank Of America (BAC) +0.05 (0.7%) to $7.72 on volume of 53.89m shares; and
  • Huntington Bancshares (HBAN) +0.03 (0.5%) to $6.4 on volume of 5.23m shares.

The Semiconductor index (SOX) added 2.83 points (0.71%) to 403.98 points. Total volume traded in the 18 components of the index was 127.06m shares. Advancers outpaced decliners by 2.8 to one, with 11 advancers to 4 decliners. Advancing volume exceeded declining volume by 67.56m to 57. 18m shares. The biggest gainers (percentage-wise) were –

  • Taiwan Semiconductor (TSM) +0.24 (1.7%) to $14.33 on volume of 8.48m shares;
  • Broadcom (BRCM) +0.43 (1.3%) to $34.33 on volume of 7.69m shares;
  • Marvell Technology (MRVL) +0.14 (1.2%) to $11.94 on volume of 7.24m shares;
  • KLA-Tencor Cp (KLAC) +0.55 (1%) to $53.06 on volume of 1.52m shares; and
  • Altera (ALTR) +0.34 (0.9%) to $36.87 on volume of 2.98m shares.

The ChildKiller (“Defence”) index (DFX) added 1.65 points (0.43%) to 384.64 points. Total volume traded in the 17 components of the index was 41.74m shares. Advancers outpaced decliners by 1.2 to one, with 7 advancers to 6 decliners. Advancing volume exceeded declining volume by 32.55m to 7.6m shares. The biggest gainers (percentage-wise) were –

  • Alliant Tech (ATK) +3.46 (7.1%) to $51.94 on volume of 0.84m shares;
  • L-3 Holdings (LLL) +0.65 (0.9%) to $70.41 on volume of 0.47m shares;
  • Nor throp Grummanl (NOC) +0.55 (0.8%) to $68.4 on volume of 1.58m shares;
  • ITT Corporation (ITT) +0.14 (0.7%) to $20.69 on volume of 1.27m shares; and
  • Raytheon (RTN) +0.21 (0.4%) to $55.96 on volume of 1.08m shares.