The following economic data was released during the session:

  • Retail Sales m/m for April 2012 was released in Canada; the series posted a reading of -0.5% a drop of 0.9 compared to the last data point (0.4%) , which was lower than the market’s pre-release guess of 0.2%.
  • Retail Sales Less Autos m/m for April 2012 was released in Canada; the series posted a reading of -0.3% a decline of 0.6 compared to the last data point (0.3%) , which was lower than the market’s pre-release guess of 0.3%.
  • Markit US PMI Preliminary for June 2012 was released in the US; the result was 52.9 a decline of 1.1 compared to the last data point (54.0) , which was lower than expectations of 53.3.
  • Continuing Claims for June 9 2012 was released in the US; the result was 3299K unchanged from the last data release for this series. – above the market’s pre-release guess of 3278K.
  • Initial Jobless Claims for June 16 2012 was released in the US; the outcome was 387K a drop of 2 compared to the last data point (389K) – above expectations of 383K.
  • Philadelphia Fed. for June 2012 was released in the US; the series posted a reading of -16.6 a decline of 10.8 compared to the last data point (-5.8) , which was lower than the market’s pre-release guess of 0.
  • House Price Index m/m for April 2012 was released in the US; the series posted a reading of 0.8% sliding 1 compared to the last data point (1.8%) – above the consensus estimate of 0.4%.
  • Existing Home Sales m/m for May 2012 was released in the US; the outcome was -1.5% a decline of 4.9 compared to the last data point (3.4%) , which was lower than the consensus estimate of -1.1%.
  • Existing Home Sales for May 2012 was released in the US; the series posted a reading of 4.55M a decline of 0.07 compared to the last data point (4.62M) , which was lower than expectations of 4.57M.
  • Leading Indicators for May 2012 was released in the US; the result was 0.3% adding 0.4 from the prior reading of -0.1% – above the market’s pre-release guess of 0.1%.
  • EIA Natural Gas Storage Change for June 15 2012 was released in the US; the result was 62 dropping 5 compared to the last data point (67) , which was lower than expectations of 64.

Headline Indices

The Dow Jones Industrial Average finished the session at 12,573.57 points, a change of -250.82 points (-1.96%) for the session.

The session high was 12,857.39 points, while the low was down at 12,561.46 points.

Total volume traded in the 30 components of the index was 779.91m shares. Decliners outpaced gainers by 14 to one, with 28 decliners to 2 advancers. Declining volume was greater than advancing volume by 747.18m to 32.73m shares. The main decliners (in percentage terms) were –

  • Alcoa (AA) -0.37 (4.1%) to $8.55 on volume of 22.32m shares;
  • Hewlett- Packard (HPQ) -0.865 (4.1%) to $20.295 on volume of 19.51m shares;
  • Bank Of America (BAC) -0.32 (3.9%) to $7.82 on volume of 220.71m shares;
  • General Motors (GM) -0.84 (3.9%) to $20.64 on volume of 9.1m shares; and
  • Citigroup (C) -1.03 (3.6%) to $27.83 on volume of 39.17m shares.

 

The S&P500 Index fell 30.18 points (2.23%) to 1325.51 points..

Total volume traded in the 500 components of the index was 2.77bn shares. Decliners outpaced gainers by 33.5 to one, with 436 decliners to 13 advancers. Declining volume was greater than advancing volume by 2.64bn to 128.39m shares. The main decliners (in percentage terms) were –

  • Bed Bath & Beyond (BBBY) -12.5 (17%) to $61.17 on volume of 17.05m shares;
  • Celgene Corp. (CELG) -7.715 (11.5%) to $59.445 on volume of 22.51m shares;
  • MGIC Investment (MTG) -0.23 (7.9%) to $2.67 on volume of 3.02m shares;
  • Micron Technology (MU) -0.475 (7.8%) to $5.645 on volume of 47.04m shares; and
  • Cameron International Corp. (CAM) -3.4 (7.6%) to $41.2 on volume of 5.75m shares.

The Nasdaq Composite slid 71.36 points (2.44%) to 2859.09 points. while the Nasdaq100 dropped 66.37 points (2.53%) to 2556.96 points..

Total volume traded in the 100 components of the index was 573.11m shares. Decliners outpaced gainers by 89 to one, with 89 decliners to 1 advancers. Declining volume was greater than advancing volume by 571.47m to 1.64m shares. The main decliners (in percentage terms) were –

  • Bed Bath & Beyond (BBBY) -12.5 (17%) to $61.17 on volume of 17.05m shares;
  • Celgene (CELG) -7.715 (11.5%) to $59.445 on volume of 22.51m shares;
  • Steel Dynamics (STLD) -0.75 (6.2%) to $11.28 on volume of 3.48m shares;
  • NII Holdings (NIHD) -0.61 (5.5%) to $10.53 on volume of 4.9m shares; and
  • Flextronics International (FLEX) -0.36 (5.4%) to $6.29 on volume of 4.3m shares.

Volatilit y

The CBOE Volatility Index advanced +2.64 points (15.31%) to 19.88 points. and the CBOE Nasdaq100 Volatility Index added +2.91 points (16.34%) to 20.72 points..

Breadth and Internals

A total of 3194 issues traded today on the NYSE; today’s total volume was 3.91bn shares. A total of 587 stocks posted gains for the day, and volume in advancing issues totalled 0.26bn shares. Exerting downwards pressure on the index were 2531 losers, which accounted for a total declining volume of 3.62bn shares. 47 stocks made new 1-year highs on the NYSE, while 39 shares plumbed new 52-week depths.

On the Nasdaq 2581 tickers traded today; total Nasdaq volume was 1.68bn shares. A total of 505 stocks posted gains for the day, with aggregate volume of 0.25bn shares changing hands in the day’s winners. The red zone of the Nasdaq exchange comprised 1983 losers, and total declining volume was 1.42bn shares. 48 Nasdaq-listed stocks hit new 52-week highs, while 51 shares 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 1325.51 -30.18 -2.23%
Nasdaq Composite 2859.09 -71.36 -2.44%
Nasdaq100 2556.96 -66.37 -2.53%
CBOE Volatility Index 19.88 +2.64 15.31%
CBOE Nasdaq100 Volatility Index 20.72 +2.91 16.34%

Dow Darlings

  • Merck (MRK) +0.24 (0.6%) to $39.45 on volume of 17.1m units
  • Verizon (VZ) +0.03 (0.1%) to $43.33 on volume of 15.6m units

Dow Duds:

  • Alcoa (AA) -0.37 (4.1%) to $8.55 on volume of 22.3m units
  • Hewlett-Packard (HPQ) -0.865 (4.1%) to $20.3 on volume of 19.5m units
  • Bank Of America (BAC) -0.32 (3.9%) to $7.82 on volume of 220.8m units
  • Chevron (CVX) -3.61 (3.5%) to $100.02 on volume of 8.3m units
  • Exxon-Mobil (XOM) -2.86 (3.4%) to $82.11 on volume of 33.4m units

Most Traded Dow stocks:

  • Bank Of America (BAC)-0.32 (3.9%) to $7.82 on volume of 220.8m units
  • General Electric (GE)-0.4 (2%) to $19.53 on volume of 60.4m units
  • JPMorganChase (JPM)-0.94 (2.6%) to $35.51 on volume of 49.9m units
  • Intel (INTC)-0.93 (3.4%) to $26.71 on volume of 46.5m units
  • Microsoft (MSFT)-0.795 (2.6%) to $30.14 on volume of 46.4m units
Precious Metals

Precious metals futures performed as follows –

Precious Metals Futures
Commodity Close Gain(Loss) %
Gold 1565.5 -50.3 -3.11
Silver 26.9 -1.553 -5.46
Palladium 608.55 -10.95 -1.77
Platinum 1438.6 -28.2 -1.92

The Gold Bugs index (XAU) slid 9.15 points (5.51%) to 157.04 points. Total volume traded in the 16 components of the index was 78.48m shares. None of the 16 index components rose today: 16 stocks within the index fell, with downside volume of 78.48m shares. The main decliners (in percentage terms) were –

  • Silver Stand Resources (SSRI) -1.08 (8.3%) to $11.92 on volume of 1.14m shares;
  • Coeur d’Alene (CDE) -1.39 (7.4%) to $17.44 on volume of 1.59m shares;
  • Freeport McMoran (FCX) -2.32 (6.6%) to $32.99 on volume of 22.12m shares;
  • Pan-American Silver (PAAS) -1.23 (6.5%) to $17.75 on volume of 1.73m shares; and
  • Harmony Gold (HMY) -0.67 (6.4%) to $9.81 on volume of 2.1m shares.
Energy Complex

Energy futures performed as follows –

Energy Futures
Commodity Close Gain(Loss) %
Crude Oil 78.2 -3.25 -3.99
Heating Oil 2.5231 -0.0615 -2.38
Natural Gas 2.645 0.061 2.36
Gasoline RBOB 2.452 -0.0553 -2.21

The Oil Services index (OSX) lost 11.03 points (5.41%) to 192.88 points. Total volume traded in the 15 components of the index was 82.22m shares. None of the 15 index components rose today: 12 stocks within the index fell, with downside volume of 82.22m shares. The main decliners (in percentage terms) were –

  • Cameron International (CAM) -3.4 (7.6%) to $41.2 on volume of 5.75m shares;
  • Noble Corp (NE) -2.37 (7.4%) to $29.87 on volume of 6.16m shares;
  • Weatherford International (WFT) -0.9 (7%) to $11.99 on volume of 11.33m shares;
  • Nabors Industries (NBR) -0.93 (6.7%) to $12.95 on volume of 11.73m shares; and
  • Transocean Inc (RIG) -2.83 (6.2%) to $42.5 on volume of 4.01m shares.
Currency Futures

Currency futures performed as follows –

Currency Futures
Index Close Gain(Loss) %
U.S. Dollar Index 82.555 0.821 1
Euro FX 1.2563 -0.0113 -0.89

Bellwethers

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

  • General Electric (GE) -0.4 (2.01%) to $19.53 on volume of 60.41m units.
  • Citigroup (C) -1.03 (3.57%) to $27.83 on volume of 39.19m units.
  • Wal-Mart (WMT) -0.82 (1.2%) to $67.70 on volume of 9.69m units.
  • IBM (IBM) -5.39 (2.71%) to $193.39 on volume of 4.23m units.
  • Intel (INTC) -0.93 (3.36%) to $26.71 on volume of 46.48m units.
  • Cisco Systems (CSCO) -0.585 (3.34%) to $16.925 on volume of 41.71m units.
  • Google (GOOG) -12.3 (2.13%) to $565.21 on volume of 1.95m 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) slid 1.06 points ( 2.33%) to 44.49 points. Total volume traded in the 24 components of the index was 449.71m shares. None of the 24 index components rose today: 21 stocks within the index fell, with downside volume of 449.71m shares. The main decliners (in percentage terms) were –

  • Bank Of America (BAC) -0.32 (3.9%) to $7.82 on volume of 220.7m shares;
  • Citigroup Inc (C) -1.03 (3.6%) to $27.83 on volume of 39.17m shares;
  • Suntrust Banks (STI) -0.81 (3.5%) to $22.61 on volume of 7.23m shares;
  • Regions Financial (RF) -0.23 (3.4%) to $6.51 on volume of 16.93m shares; and
  • Zions Bancorp (ZION) -0.645 (3.3%) to $18.975 on volume of 1.92m shares.

The Semiconductor index (SOX) fell 15.88 points (4.09%) to 372.71 points. Total volume traded in the 18 components of the index was 185.01m shares. None of the 18 index components rose today: 16 stocks within the index fell, with downside volume of 185.01m shares. The main decliners (in percentage terms) w ere –

  • Micron Technology (MU) -0.475 (7.8%) to $5.645 on volume of 47.04m shares;
  • Advanced Micro Devices (AMD) -0.34 (5.6%) to $5.72 on volume of 17.04m shares;
  • Marvell Technology (MRVL) -0.61 (5.1%) to $11.4 on volume of 8.81m shares;
  • Teradyne (TER) -0.72 (4.9%) to $14.1 on volume of 3.4m shares; and
  • Broadcom (BRCM) -1.67 (4.7%) to $33.6 on volume of 7.57m shares.

The ChildKiller (“Defence”) index (DFX) dropped 7.45 points (2.01%) to 363.46 points. Total volume traded in the 17 components of the index was 81.61m shares. None of the 17 index components rose today: 16 stocks within the index fell, with downside volume of 81.61m shares. The main decliners (in percentage terms) were –

  • Esterline Tech (ESL) -2.3 (3.6%) to $60.81 on volume of 0.11m shares;
  • Gencorp (GY) -0.21 (3.4%) to $5.93 on volume of 0.15m shares;
  • FLIRr Systems (FLIR) -0.57 (2.8%) to $19.48 on volume of 1.37m shares;
  • Emb raer Empresa (ERJ) -0.71 (2.6%) to $26.14 on volume of 1.22m shares; and
  • Teledyne Tech (TDY) -1.44 (2.3%) to $60.98 on volume of 0.12m shares.