The following economic data was released during the session:

  • Gross Domestic Product m/m for May 2012 was released in Canada; the series posted a reading of 0.1% a decline of 0.2 compared to the last data point (0.3%) , which was lower than the market’s pre-release guess of 0.2%.
  • Industrial Product Price m/m for July 2012 was released in Canada; the result was -0.3% dropping 0.2 compared to the last data point (-0.1%) , which was lower than the consensus estimate of -0.1%.
  • Raw Materials Price Index m/m for July 2012 was released in Canada; the result was -4.0% dropping 2.9 compared to the last data point (-1.1%) , which was lower than the market’s pre-release guess of -3.0%.
  • S&P/Case-Shiller Composite-20 y/y for May 2012 was released in the US; the outcome was -0.7% adding 1.1 from the prior reading of -1.8% – above expectations of -1.4%.
  • Personal Consumption Expenditure Deflator m/m for July 2012 was released in the US; the outcome was 0.1% an increase of 0.3 from the prior reading of -0.2% – above the consensus estimate of 0.0%.
  • Personal Consumption Expenditure Deflator y/y for July 2012 was released in the US; the series posted a reading of 1.5% unchanged from the last data release for this series. , which was lower than expectations of 1.7%.
  • Personal Consumption Expenditure Core y/y for July 2012 was released in the US; the result was 1.8% unchanged from the last data release for this series. , in line with expectations of 1.8%.
  • Personal Spending for July 2012 was released in the US; the series posted a reading of 0.0% a gain of 0.1 from the prior reading of -0.1% , which was lower than expectations of 0.1%.
  • Personal Income for July 2012 was released in the US; the result was 0.5% adding 0.2 from the prior reading of 0.3% – above the market’s pre-release guess of 0.4%.
  • Personal Co nsumption Expenditure Core m/m for July 2012 was released in the US; the series posted a reading of 0.2% rising 0.1 from the prior reading of 0.1% , in line with the market’s pre-release guess of 0.2%.
  • Chicago Purchasing Manager for July 2012 was released in the US; the result was 53.7 rising 0.8 from the prior reading of 52.9 – above the consensus estimate of 52.5.
  • Employment Cost Index for December 2012 was released in the US; the result was 0.5% advancing 0.1 from the prior reading of 0.4% , in line with expectations of 0.5%.
  • S&P/Case-Shiller Home Price Index for May 2012 was released in the US; the result was 139.0 advancing 3.1 from the prior reading of 135.9 – above expectations of 137.6.
  • S&P/CS 20 City s.a. m/m for May 2012 was released in the US; the outcome was 0.9% gaining 0.2 from the prior reading of 0.7% – above the market’s pre-release guess of 0.4%.

Headline Indices

The Do w Jones Industrial Average finished the session at 13,008.68 points, a change of -64.33 points (-0.49%) for the session.

The session high was 13,082.66 points, while the low was down at 13,006.48 points.

Total volume traded in the 30 components of the index was 461.8m shares. Decliners outpaced gainers by 2.8 to one, with 22 decliners to 8 advancers. Declining volume was greater than advancing volume by 263.28m to 198.53m shares. The main decliners (in percentage terms) were –

  • Home Depot (HD) -1.07 (2%) to $52.18 on volume of 10.13m shares;
  • Caterpillar (CAT) -1.48 (1.7%) to $84.21 on volume of 7.85m shares;
  • AIG (AIG) -0.45 (1.4%) to $31.27 on volume of 9.27m shares;
  • Disney Corp (DIS) -0.66 (1.3%) to $49.14 on volume of 9.05m shares; and
  • Boeing (BA) -0.95 (1.3%) to $73.91 on volume of 3.46m shares.

 

The S&P500 Index dropped 5.98 points (0.43%) to 1379.32 points..

Total volume traded in the 500 components of the index was 2.3bn shares. Decliners outpaced gainers by 2.7 to one, with 321 decliners to 119 advancers. Declining volume was greater than advancing volume by 1.38bn to 893.3m shares. The main decliners (in percentage terms) were –

  • CoachInc. (COH) -11.25 (18.6%) to $49.33 on volume of 33.16m shares;
  • Humana Inc. (HUM) -8.95 (12.7%) to $61.6 on volume of 11.59m shares;
  • Masco Corp. (MAS) -1.09 (8.3%) to $12.03 on volume of 19.77m shares;
  • Applied Biosystems Inc. (ABI) -1.03 (6.4%) to $15.02 on volume of 0m shares; and
  • Lowe’s Cos. (LOW) -1.49 (5.5%) to $25.37 on volume of 21.43m shares.

The Nasdaq Composite dropped 6.32 points (0.21%) to 2939.52 points. while the Nasdaq100 rose +0.41 points (0.02%) to 2642.53 points..

Total volume traded in the 100 components of the index was 499.89m shares. Decliners outpaced gainers by 2.2 to one, with 61 decliners to 28 advancers. Declining volume was greater than advancing volume by 300.4m to 187.74m shares. The biggest gainers (percentage-wise) were –

  • Apple (AAPL) +15.73 (2.6%) to $610.76 on volume of 16.33m shares;
  • Level 3 Communications (LVLT) +0.48 (2.6%) to $19.27 on volume of 1.55m shares;
  • Focus Media Holding (FMCN) +0.39 (2%) to $19.78 on volume of 1.66m shares;
  • Symantec (SYMC) +0.28 (1.8%) to $15.75 on volume of 13.12m shares; and
  • NVIDIA (NVDA) +0.21 (1.6%) to $13.54 on volume of 9.49m shares.

Volatility

The CBOE Volatility Index gained +0.86 points (4.77%) to 18.89 points. and the CBOE Nasdaq100 Volatility Index gained +0.60 points (3.04%) to 20.34 points..

Breadth and Internals

A total of 3179 issues traded today on the NYSE; today’s total volume was 3.45bn shares. A total of 1253 stocks posted gains for the day, and volume in advancing issues totalled 1.23bn shares. Exerting downwards pressure on the index were 1798 losers, which accounted for a total declining volume of 2.16bn shares. 182 stocks made new 1-year highs on the NYSE, while 26 shares plumbed new 52-week depths.

On the Nasdaq 2608 tickers traded today; total Nasdaq volume was 1.73bn shares. A total of 1024 stocks posted gains for the day, with aggregate volume of 0.69bn shares changing hands in the day’s winners. The red zone of the Nasdaq exchange comprised 1460 losers, and total declining volume was 1.01bn shares. 52 Nasdaq-listed stocks hit new 52-week highs, while 52 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 1379.32 -5.98 -0.43%
Nasdaq Composite 2939.52 -6.32 -0.21%
Nasdaq100 2642.53 +0.41 0.02%
CBOE Volatility Index 18.89 +0.86 4.77%
CBOE Nasdaq100 Volatility Index 20.34 +0.60 3.04%

Dow Darlings

  • Pfizer (PFE) +0.33 (1.4%) to $24.04 on volume of 52.1m units
  • AT&T (T) +0.49 (1.3%) to $37.92 on volume of 33.5m units
  • Bank Of America (BAC) +0.06 (0.8%) to $7.34 on volume of 77.3m units
  • Verizon (VZ) +0.19 (0.4%) to $45.14 on volume of 10.1m units
  • Alcoa (AA) +0.02 (0.2%) to $8.47 on volume of 12.4m units

Dow Duds:

  • Home Depot (HD) -1.07 (2%) to $52.18 on volume of 10.1m units
  • Caterpillar (CAT) -1.48 (1.7%) to $84.21 on volume of 7.8m units
  • Disney Corp (DIS) -0.66 (1.3%) to $49.14 on volume of 9.1m units
  • Boeing (BA) -0.95 (1.3%) to $73.91 on volume of 3.5m units
  • American Express (AXP) -0.58 (1%) to $57.71 on volume of 4.1m units

Most Traded Dow stocks:

  • Bank Of America (BAC) +0.06 (0.8%) to $7.34 on volume of 77.3m units
  • Pfizer (PFE) +0.33 (1.4%) to $24.04 on volume of 52.1m units
  • Microsoft (MSFT)-0.17 (0.6%) to $29.47 on volume of 36.9m units
  • AT&T (T) +0.49 (1.3%) to $37.92 on volume of 33.5m units
  • General Electric (GE)-0.05 (0.2%) to $20.75 on volume of 33.3m units
Precious Metals

Precious met als futures performed as follows –

Precious Metals Futures
Commodity Close Gain(Loss) %
Gold 1614.6 -9.4 -0.58
Silver 27.914 -0.119 -0.42
Palladium 590.55 2.2 0.37
Platinum 1416.9 5.1 0.36

The Gold Bugs index (XAU) slid 2.92 points (1.9%) to 150.9 points. Total volume traded in the 16 components of the index was 53.75m shares. Decliners outpaced gainers by 15 to one, with 15 decliners to 1 advancers. Declining volume was greater than advancing volume by 51.66m to 2.09m shares. The main decliners (in percentage terms) were –

  • Harmony Gold (HMY) -0.38 (3.7%) to $9.82 on volume of 0.95m shares;
  • Coeur d’Alene (CDE) -0.45 (2.7%) to $16.31 on volume of 1.42m shares;
  • RandGold Resources (GOLD) -2.42 (2.6%) to $89.48 on volume of 0.37m shares;
  • Kinroos Gold (KGC) -0.22 (2.6%) to $8.31 on volume of 6.24m shares; and
  • Gold Fields Ltd (GFI) -0.33 (2.5%) to $12.9 on volume of 4.2m shares.
Energy Complex

Energy futures performed as follows –

Energy Futures
Commodity Close Gain(Loss) %
Crude Oil 88.06 -1.72 -1.92
Heating Oil 2.848 -0.0334 -1.16
Natural Gas 3.209 -0.005 -0.16
Gasoline RBOB 2.7743 -0.0441 -1.56

The Oil Services index (OSX) slid 4.85 points (2.19%) to 216.65 points. Total volume traded in the 15 components of the index was 57.28m shares. None of the 15 index components rose today: 12 stocks within the index fell, with downside volume of 57.28m shares. The main decliners (in percentage terms) were –

  • Nabors Industries (NBR) -0.74 (5.1%) to $13.84 on volume of 6.87m shares;
  • Weatherford International (WFT) -0.57 (4.5%) to $12.05 on volume of 12.63m shares;
  • Rowan Co (RDC) -1.21 (3.3%) to $35.13 on volume of 2.98m shares;
  • Cameron International (CAM) -1.31 (2.5%) to $50.27 on volume of 2.97m shares; and
  • Tidewater (TDW) -1.22 (2.5%) to $48.57 on volume of 0.43m shares.
Currency Futures

Currency futures performed as follows –

Currency Futures
Index Close Gain(Loss) %
U.S. Dollar Index 82.72 -0.148 -0.18
Euro FX 1.2313 0.0044 0.36

Bellwethers

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

  • General Electric (GE) -0.05 (0.24%) to $20.75 on volume of 33.31m units.
  • Citigroup (C) -0.01 (0.04%) to $27.13 on volume of 20.61m units.
  • Wal-Mart (WMT) -0.55 (0.73%) to $74.43 on volume of 7.5m units.
  • IBM (IBM) -0.7 (0.36%) to $195.98 on volume of 3.07m units.
  • Intel (INTC) -0.06 (0.23%) to $25.70 on volume of 25.9m units.
  • Cisco Systems (CSCO) +0.08 (0.5%) to $15.95 on volume of 33.39m units.
  • Google (GOOG) +0.67 (0.11%) to $632.97 on volume of 1.83m 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 0.2 points (0 .44%) to 45.52 points. Total volume traded in the 24 components of the index was 206.38m shares. Decliners outpaced gainers by 6 to one, with 18 decliners to 3 advancers. Declining volume was greater than advancing volume by 121.86m to 84.52m shares. The main decliners (in percentage terms) were –

  • Huntington Bancshares (HBAN) -0.095 (1.5%) to $6.215 on volume of 10.34m shares;
  • Fifth Third Bancorp (FITB) -0.2 (1.4%) to $13.82 on volume of 8.37m shares;
  • Regions Financial (RF) -0.09 (1.3%) to $6.96 on volume of 12.97m shares;
  • PNC Financial (PNC) -0.72 (1.2%) to $59.1 on volume of 2.77m shares; and
  • BB&T Corp (BBT) -0.34 (1.1%) to $31.37 on volume of 3.29m shares.

The Semiconductor index (SOX) rose 3.11 points (0.82%) to 383.72 points. Total volume traded in the 18 components of the index was 166.17m shares. Advancers outpaced decliners by 1.3 to one, with 9 advancers to 7 decliners. Advancing volume exceeded declining volu me by 106.69m to 59.47m shares. The biggest gainers (percentage-wise) were –

  • Taiwan Semiconductor (TSM) +0.48 (3.6%) to $13.97 on volume of 16.74m shares;
  • Micron Technology (MU) +0.1 (1.6%) to $6.21 on volume of 51m shares;
  • ST Microelectronic (STM) +0.06 (1.1%) to $5.36 on volume of 1.83m shares;
  • Altera (ALTR) +0.24 (0.7%) to $35.45 on volume of 4.23m shares; and
  • Applied Materials (AMAT) +0.07 (0.6%) to $10.89 on volume of 8.52m shares.

The ChildKiller (“Defence”) index (DFX) lost 0.1 points (0.03%) to 377.5 points. Total volume traded in the 17 components of the index was 54.35m shares. Decliners outpaced gainers by 1.7 to one, with 10 decliners to 6 advancers. Declining volume was greater than advancing volume by 47.02m to 7.33m shares. The main decliners (in percentage terms) were –

  • Boeing (BA) -0.95 (1.3%) to $73.91 on volume of 3.46m shares;
  • Northrop Grummanl (NOC) -0.56 (0.8%) to $66.2 on vol ume of 1.58m shares;
  • Esterline Tech (ESL) -0.46 (0.8%) to $58.72 on volume of 0.05m shares;
  • United Technologies (UTX) -0.53 (0.7%) to $74.44 on volume of 3.38m shares; and
  • General Electric (GE) -0.05 (0.2%) to $20.75 on volume of 33.31m shares.