The following economic data was released during the session:

  • Wholesale Sales m/m for May 2012 was released in Canada; the series posted a reading of 0.9% a decline of 0.3 compared to the last data point (1.2%) – above the consensus estimate of 0.2%.
  • Existing Home Sales for June 2012 was released in the US; the result was 4.37M a decline of 0.25 compared to the last data point (4.62M) , which was lower than the consensus estimate of 4.62M.
  • Existing Home Sales m/m for June 2012 was released in the US; the series posted a reading of -5.4% a drop of 5.4 compared to the last data point (0.0%) , which was lower than the consensus estimate of 1.5%.
  • Philadelphia Fed. for July 2012 was released in the US; the series posted a reading of -12.9 advancing 3.7 from the prior reading of -16.6 , which was lower than the consensus estimate of -8.0.
  • Continuing Claims for July 7 2012 was released in the U S; the result was 3314K adding 1 from the prior reading of 3313K – above the consensus estimate of 3300K.
  • Initial Jobless Claims for July 14 2012 was released in the US; the series posted a reading of 386K gaining 34 from the prior reading of 352K – above expectations of 365K.
  • Leading Indicators for June 2012 was released in the US; the series posted a reading of -0.3% a drop of 0.7 compared to the last data point (0.4%) , which was lower than the consensus estimate of -0.1%.
  • EIA Natural Gas Storage Change for July 13 2012 was released in the US; the result was 28 sliding 5 compared to the last data point (33) , which was lower than expectations of 34.

Headline Indices

The Dow Jones Industrial Average finished the session at 12,943.36 points, a change of +34.66 points (0.27%) for the session.

The session high was 12,977.57 points, while the low was down at 12,889.93 points.

Total volume traded in the 30 components of the index was 708.51m shares. Advancers outpaced decliners by 1.2 to one, with 15 advancers to 13 decliners; however declining volume was greater than advancing volume by 508.14m to 173.18m shares. The biggest gainers (percentage-wise) were –

  • IBM (IBM) +7.09 (3.8%) to $195.34 on volume of 10.09m shares;
  • Boeing (BA) +0.97 (1.3%) to $74.86 on volume of 4.32m shares;
  • United Technologies (UTX) +0.97 (1.3%) to $75.82 on volume of 3.1m shares;
  • Chevron (CVX) +0.96 (0.9%) to $108.84 on volume of 5.74m shares; and
  • Microsoft (MSFT) +0.215 (0.7%) to $30.665 on volume of 43.37m shares.

 

The S&P500 Index gained +3.73 points (0.27%) to 1376.51 points..

Total volume traded in the 500 components of the index was 2.66bn shares. Advancers outpaced decliners by 1.3 to one, with 248 advancers to 189 decliners; however declining volume was greater than advancing volume by 1.34bn to 1.27bn shares. The bigg est gainers (percentage-wise) were –

  • Walgreen Co. (WAG) +3.65 (11.8%) to $34.62 on volume of 55.72m shares;
  • Textron Inc. (TXT) +2.74 (11.5%) to $26.5 on volume of 8.69m shares;
  • Snap-On Inc. (SNA) +5.9 (9.6%) to $67.24 on volume of 1.46m shares;
  • eBay Inc. (EBAY) +3.49 (8.6%) to $43.95 on volume of 35.19m shares; and
  • Ciena Corp. (CIEN) +1.08 (7.6%) to $15.28 on volume of 12.78m shares.

The Nasdaq Composite rose +23.30 points (0.79%) to 2965.90 points. while the Nasdaq100 added +29.94 points (1.14%) to 2655.81 points..

Total volume traded in the 100 components of the index was 570.51m shares. Advancers outpaced decliners by 3 to one, with 66 advancers to 22 decliners. Advancing volume exceeded declining volume by 399.04m to 123.11m shares. The biggest gainers (percentage-wise) were –

  • eBay (EBAY) +3.49 (8.6%) to $43.95 on volume of 35.2m shares;
  • Foster Wheeler (FWLT) +1.04 (6.4%) to $17.3 9 on volume of 3.01m shares;
  • Broadcom (BRCM) +1.8 (5.9%) to $32.45 on volume of 14.95m shares;
  • QUALCOMM (QCOM) +2.385 (4.3%) to $58.435 on volume of 25.97m shares; and
  • Juniper Networks (JNPR) +0.63 (4.1%) to $15.84 on volume of 10.22m shares.

Volatility

The CBOE Volatility Index slid 0.42 points (2.6%) to 15.74 points. and the CBOE Nasdaq100 Volatility Index lost 0.86 points (4.7%) to 17.44 points..

Breadth and Internals

A total of 3194 issues traded today on the NYSE; today’s total volume was 3.65bn shares. A total of 1611 stocks posted gains for the day, and volume in advancing issues totalled 1.79bn shares. Exerting downwards pressure on the index were 1449 losers, which accounted for a total declining volume of 1.77bn shares. 170 stocks made new 1-year highs on the NYSE, while 21 shares plumbed new 52-week depths.

On the Nasdaq 2593 tickers traded today; total Nasdaq volume was 1.67bn shares. A total of 1093 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 1386 losers, and total declining volume was 0.63bn shares. 90 Nasdaq-listed stocks hit new 52-week highs, while 34 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 1376.51 +3.73 0.27%
Nasdaq Composite 2965.90 +23.30 0.79%
Nasdaq100 2655.81 +29.94 1.14%
CBOE Volatility Index 15.74 -0.42 -2.6%
CBOE Nasdaq100 Volatility Index 17.44 -0.86 -4.7%

Dow Darlings

  • IBM (IBM) +7.09 (3.8%) to $195.34 on volume of 10.1m units
  • Boeing (BA) +0.97 (1.3%) to $74.86 on volume of 4.3m units
  • United Technologies (UTX) +0.97 (1.3%) to $75.82 on volume of 3.1m units
  • Chevron (CVX) +0.96 (0.9%) to $108.84 on volume of 5.7m units
  • Microsoft (MSFT) +0.215 (0.7%) to $30.67 on volume of 43.7m units

Dow Duds:

  • Bank Of America (BAC) -0.27 (3.6%) to $7.26 on volume of 257.4m units
  • American Express (AXP) -2.06 (3.5%) to $56.23 on volume of 12.4m units
  • Verizon (VZ) -1.35 (2.9%) to $44.54 on volume of 24.2m units
  • AT&T (T) -0.71 (2%) to $35.48 on volume of 29m units
  • Wal-Mart (WMT) -1.32 (1.8%) to $71.53 on volume of 16.5m units

Most Traded Dow stocks:

  • Bank Of America (BAC)-0.27 (3.6%) to $7.26 on volume of 257.4m units
  • Microsoft (MSFT) +0.215 (0.7%) to $30.67 on volume of 43.7m units
  • General Electric (GE)-0.04 (0.2%) to $19.8 on volume of 39.8m units
  • Intel (INTC)-0.15 (0.6%) to $26.06 on volume of 36.3m units
  • Pfizer (PFE) +0.125 (0.5%) to $23.8 on volume of 30.5m units
Precious Metals

P recious metals futures performed as follows –

Precious Metals Futures
Commodity Close Gain(Loss) %
Gold 1580.4 9.6 0.61
Silver 27.217 0.122 0.45
Palladium 584.85 7.3 1.26
Platinum 1423.1 18.9 1.35

The Gold Bugs index (XAU) gained 1.72 points (1.18%) to 148.02 points. Total volume traded in the 16 components of the index was 69.16m shares. Advancers outpaced decliners by 1.7 to one, with 10 advancers to 6 decliners. Advancing volume exceeded declining volume by 53.79m to 15.37m shares. The biggest gainers (percentage-wise) were –

  • Freeport McMoran (FCX) +1.4 (4.2%) to $34.42 on volume of 23.14m shares;
  • GoldCorp (GG) +0.75 (2.3%) to $33.28 on volume of 5.04m shares;
  • Coeur d’Alene (CDE) +0.33 (2.1%) to $15.69 on volume of 0.93m shares;
  • Kinroos Gold (KGC) +0.15 (1.9%) to $8.02 on volume of 6.5m shares; and
  • Agnico Eagle Mines (AEM) +0.57 (1.6%) to $37.3 on volume of 0.83m shares.
Energy Complex

Energy futures performed as follows –

Energy Futures
Commodity Close Gain(Loss) %
Crude Oil 92.97 2.8 3.11
Heating Oil 2.9468 0.0697 2.42
Natural Gas 2.981 0.031 1.05
Gasoline RBOB 2.8414 0.0659 2.37

The Oil Services index (OSX) added 1.81 points (0.85%) to 213.59 points. Total volume traded in the 15 components of the index was 61.21m shares. Advancers and decliners were split evenly, 6 decliners to 6 advancers. Declining volume was greater than advancing volume by 30.81m to 30.4m shares. The biggest gainers (percentage-wise) were –

  • National Oilwell Varco (NOV) +1.46 (2.1%) to $70.47 on volume of 2.79m shares;
  • Transocean Inc (RIG) +0.73 (1.6%) to $47.75 on volume of 6.53m shares;
  • Rowan Co (RDC) +0.5 (1.4%) to $35.11 on volume of 1.23m shares;
  • Cameron International (CAM) +0.23 (0.5%) to $45.27 on volume of 2.24m shares; and
  • Noble Corp (NE) +0.17 (0.5%) to $35.57 on volume of 5.5m shares.
Currency Futures

Currency futures performed as follows –

Currency Futures
Index Close Gain(Loss) %
U.S. Dollar Index 82.99 -0.206 -0.25
Euro FX 1.2287 0.0015 0.12

Bellwethers

The nine-stock group that makes up the Rant bellwethers advanced on average by 0.1%. The fallout occurred as follows:

  • General Electric (GE) -0.04 (0.2%) to $19.80 on volume of 39.81m units.
  • Citigroup (C) -0.51 (1.88%) to $26.59 on volume of 31.99m units.
  • Wal-Mart (WMT) -1.32 (1.81%) to $71.53 on volume of 16.5m units.
  • IBM (IBM) +7.09 (3.77%) to $195.34 on volume of 10.09m units.
  • Intel (INTC) -0.15 (0.57%) to $26.06 on volume of 36.27m units.
  • Cisco Systems (CSCO) -0.025 (0.15%) to $16.675 on volume of 30.21m units.
  • Google (GOOG) +12.30 (2.12%) to $593.06 on volume of 4.05m 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) fell 0.24 poi nts (0.52%) to 45.75 points. Total volume traded in the 24 components of the index was 471.51m shares. Decliners outpaced gainers by 1.6 to one, with 13 decliners to 8 advancers. Declining volume was greater than advancing volume by 376.47m to 95.04m shares. The main decliners (in percentage terms) were –

  • Bank Of America (BAC) -0.27 (3.6%) to $7.26 on volume of 257.37m shares;
  • Suntrust Banks (STI) -0.5 (2%) to $24.24 on volume of 8.28m shares;
  • Citigroup Inc (C) -0.51 (1.9%) to $26.59 on volume of 31.99m shares;
  • Bank Of NY Mellon (BK) -0.4 (1.8%) to $21.29 on volume of 5.41m shares; and
  • JPMorganChase (JPM) -0.5 (1.4%) to $34.46 on volume of 30.41m shares.

The Semiconductor index (SOX) added 7.43 points (2.04%) to 371.34 points. Total volume traded in the 18 components of the index was 181.09m shares. Advancers outpaced decliners by 1.7 to one, with 10 advancers to 6 decliners; however declining volume was greater than a dvancing volume by 112.52m to 68.57m shares. The biggest gainers (percentage-wise) were –

  • Broadcom (BRCM) +1.8 (5.9%) to $32.45 on volume of 14.94m shares;
  • Marvell Technology (MRVL) +0.265 (2.4%) to $11.135 on volume of 10.68m shares;
  • Sandisk (SNDK) +0.82 (2.4%) to $35.08 on volume of 7.68m shares;
  • ST Microelectronic (STM) +0.08 (1.6%) to $5.08 on volume of 1.1m shares; and
  • Texas Instruments (TXN) +0.39 (1.4%) to $28.04 on volume of 8.06m shares.

The ChildKiller (“Defence”) index (DFX) gained 2.92 points (0.79%) to 373.76 points. Total volume traded in the 17 components of the index was 58.21m shares. Advancers outpaced decliners by 4 to one, with 12 advancers to 3 decliners; however declining volume was greater than advancing volume by 41.15m to 16.14m shares. The biggest gainers (percentage-wise) were –

  • Rockwell Collins (COL) +1.73 (3.5%) to $50.63 on volume of 1.38m shares;
  • Embraer Empresa (ER J) +0.73 (2.9%) to $25.56 on volume of 1.45m shares;
  • ITT Corporation (ITT) +0.37 (2%) to $18.72 on volume of 1.38m shares;
  • FLIRr Systems (FLIR) +0.32 (1.7%) to $19.47 on volume of 1.19m shares; and
  • Boeing (BA) +0.97 (1.3%) to $74.86 on volume of 4.32m shares.