The following economic data was released during the session:

  • Wholesale Sales m/m for April 2012 was released in Canada; the outcome was 1.5% advancing 1.2 from the prior reading of 0.3% – above the consensus estimate of 0.2%.
  • Building Permits for May 2012 was released in the US; the outcome was 780K an increase of 57 from the prior reading of 723K – above the consensus estimate of 730K.
  • Housing Starts for May 2012 was released in the US; the result was 708K sliding 36 compared to the last data point (744K) , which was lower than the market’s pre-release guess of 722K.
  • Housing Starts m/m for May 2012 was released in the US; the outcome was -4.8% losing 10.2 compared to the last data point (5.4%) , which was lower than the market’s pre-release guess of 0.7%.
  • Building Permits m/m for May 2012 was released in the US; the result was 7.9% advancing 13.9 from the prior reading of -6.0% – ab ove the market’s pre-release guess of 1.0%.

Headline Indices

The Dow Jones Industrial Average finished the session at 12,837.33 points, a change of +95.51 points (0.75%) for the session.

The session high was 12,898.94 points, while the low was down at 12,744.47 points.

Total volume traded in the 30 components of the index was 720.35m shares. Advancers outpaced decliners by 3.3 to one, with 23 advancers to 7 decliners. Advancing volume exceeded declining volume by 626.89m to 93.46m shares. The biggest gainers (percentage-wise) were –

  • Bank Of America (BAC) +0.35 (4.5%) to $8.11 on volume of 245.19m shares;
  • Citigroup (C) +0.95 (3.4%) to $28.5 on volume of 42.01m shares;
  • Microsoft (MSFT) +0.86 (2.9%) to $30.7 on volume of 73.94m shares;
  • Caterpillar (CAT) +2.1 (2.4%) to $88.84 on volume of 6.15m shares; and
  • Alcoa (AA) +0.21 (2.4%) to $8.9 on volume of 16.07m shares.

 

The S&P500 Index gained +13.20 points (0.98%) to 1357.98 points..

Total volume traded in the 500 components of the index was 2.59bn shares. Advancers outpaced decliners by 5.9 to one, with 384 advancers to 65 decliners. Advancing volume exceeded declining volume by 2.19bn to 401.19m shares. The biggest gainers (percentage-wise) were –

  • United States Steel Corp. (X) +1.74 (9.5%) to $20.15 on volume of 14.83m shares;
  • MEMC Electronic Materials (WFR) +0.16 (7.9%) to $2.18 on volume of 8m shares;
  • NVIDIA Corp. (NVDA) +0.835 (6.7%) to $13.235 on volume of 23.64m shares;
  • Tesoro Petroleum Co. (TSO) +1.36 (6.1%) to $23.64 on volume of 7.89m shares; and
  • Chesapeake Energy (CHK) +1.04 (5.9%) to $18.71 on volume of 25.33m shares.

The Nasdaq Composite added +34.43 points (1.19%) to 2929.76 points. while the Nasdaq100 added +28.31 points (1.09%) to 2620.83 points..

Total volume traded in the 100 components of the index was 610.66m shares. Advancers outpaced decliners by 8 to one, with 80 advancers to 10 decliners. Advancing volume exceeded declining volume by 556.81m to 53.85m shares. The biggest gainers (percentage-wise) were –

  • Steel Dynamics (STLD) +0.86 (7.7%) to $12.04 on volume of 6.26m shares;
  • NVIDIA (NVDA) +0.835 (6.7%) to $13.235 on volume of 23.64m shares;
  • Focus Media Holding (FMCN) +1.24 (6.2%) to $21.3 on volume of 2.06m shares;
  • Sears Holdings (SHLD) +2.78 (5.4%) to $54.44 on volume of 0.98m shares; and
  • Foster Wheeler (FWLT) +0.8 (4.6%) to $18.06 on volume of 1.89m shares.

Volatility

The CBOE Volatility Index advanced +0.09 points (0.49%) to 18.41 points. and the CBOE Nasdaq100 Volatility Index fell 0.41 points (2.09%) to 19.23 points..

Breadth and Internals

A total of 3215 issues traded today on the NYSE; today’s total volume was 3.75bn shares. A total of 2619 stocks posted gains for the day, and volume in advancing issues totalled 3.13bn shares. Exerting downwards pressure on the index were 513 losers, which accounted for a total declining volume of 0.6bn shares. 129 stocks made new 1-year highs on the NYSE, while 12 shares plumbed new 52-week depths.

On the Nasdaq 2595 tickers traded today; total Nasdaq volume was 1.73bn shares. A total of 1908 stocks posted gains for the day, with aggregate volume of 1.46bn shares changing hands in the day’s winners. The red zone of the Nasdaq exchange comprised 591 losers, and total declining volume was 0.25bn shares. 118 Nasdaq-listed stocks hit new 52-week highs, while 22 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 1357.98 +13.20 0.98%
Nasdaq Composite 2929.76 +34.43 1.19%
Nasdaq100 2620.83 +28.31 1.09%
CBOE Volatility Index 18.41 +0.09 0.49%
CBOE Nasdaq100 Volatility Index 19.23 -0.41 -2.09%

Dow Darlings

  • Bank Of America (BAC) +0.35 (4.5%) to $8.11 on volume of 245.2m units
  • Microsoft (MSFT) +0.86 (2.9%) to $30.7 on volume of 74m units
  • Caterpillar (CAT) +2.1 (2.4%) to $88.84 on volume of 6.2m units
  • Alcoa (AA) +0.21 (2.4%) to $8.9 on volume of 16.1m units
  • JPMorganChase (JPM) +0.76 (2.2%) to $35.38 on volume of 31.6m units

Dow Duds:

  • Hewlett-Packard (HPQ) -0.24 (1.1%) to $20.81 on volume of 21.5m units
  • McDonalds (MCD) -0.64 (0.7%) to $89.6 on volume of 7.5m units
  • Wal-Mart (WMT) -0.31 (0.5%) to $67.81 on volume of 7.8m units
  • AT&T (T) -0.16 (0.4%) to $35.47 on volume of 26.5m units
  • Coca-Cola (KO) -0.24 (0.3%) to $75.74 on volume of 5.4m units

Most Traded Dow stocks:

  • Bank Of America (BAC) +0.35 (4.5%) to $8.11 on volume of 245.2m units
  • Microsoft (MSFT) +0.86 (2.9%) to $30.7 on volume of 74m units
  • General Electric (GE) +0.25 (1.3%) to $20 on volume of 42.2m units
  • JPMorganChase (JPM) +0.76 (2.2%) to $35.38 on volume of 31.6m units
  • Intel (INTC) +0.09 (0.3%) to $27.51 on volume of 27.5m units
Precious Metals

Precious metals futures performed as follows –

Precious Metals Futures
Commodity Close Gain(Loss) %
Gold 1623.2 -3.8 -0.23
Silver 28.368 -0.303 -1.06
Palladium 629.4 -3.75 -0.59
Platinum 1480.5 -3.6 -0.24

The Gold Bugs index (XAU) gained 0.61 points (0.37%) to 167.71 points. Total volume traded in the 16 components of the index was 66.24m shares. Advancers outpaced decliners by 3 to one, with 12 advancers to 4 decliners. Advancing volume exceeded declining volume by 54m to 12.24m shares. The biggest gainers (percentage-wise) were –

  • Freeport McMoran (FCX) +1.19 (3.5%) to $35.45 on volume of 19.06m shares;
  • Silver Stand Resources (SSRI) +0.25 (2%) to $12.99 on volume of 0.72m shares;
  • Coeur d’Alene (CDE) +0.33 (1.8%) to $19.12 on volume of 1.16m shares;
  • Pan-American Silver (PAAS) +0.26 (1.4%) to $18.75 on volume of 1.11m shares; and
  • AngloGold Ashanti (AU) +0.25 (0.7%) to $37.13 on volume of 1.05m shares.
Energy Complex

Energy futures performed as follows –

Energy Futures
Commodity Close Gain(Loss) %
Crude Oil 84.35 0.75 0.9
Heating Oil 2.6342 0.0144 0.55
Natural Gas 2.604 -0.095 -3.52
Gasoline RBOB 2.5699 -0.0166 -0.64

The Oil Services index (OSX) advanced 4.16 points (2.07%) to 204.88 points. Total volume traded in the 15 components of the index was 57.83m shares. Advancers outpaced decliners by 11 to one, with 11 advancers to 1 decliners. Advancing volume exceeded declining volume by 52.43m to 5.4m shares. The biggest gainers (percentage-wise) were –

  • Nabors Industries (NBR) +0.75 (5.8%) to $13.71 on volume of 11.23m shares;
  • Noble Corp (NE) +1.19 (3.8%) to $32.13 on volume of 3.18m shares;
  • Weatherford International (WFT) +0.47 (3.8%) to $12.88 on volume of 6.48m shares;
  • Rowan Co (RDC) +1.14 (3.7%) to $31.99 on volume of 1.41m shares; and
  • Transocean Inc (RIG) +1.52 (3.5%) to $45.26 on volume of 3.58m shares.
Currency Futures

Currency futures performed as follows –

Currency Futures
Index Close Gain(Loss) %
U.S. Dollar Index 81.615 -0.601 -0.73
Euro FX 1.2699 0.0108 0.86

Bellwethers

The nine-stock group that makes up the Rant bellwethers advanced on average by 0.8%. The fallout occurred as follows:

  • General Electric (GE) +0.25 (1.27%) to $20.00 on volume of 42.21m units.
  • Citigroup (C) +0.95 (3.45%) to $28.50 on volume of 42.01m units.
  • Wal-Mart (WMT) -0.31 (0.46%) to $67.81 on volume of 7.77m units.
  • IBM (IBM) +0.64 (0.32%) to $198.93 on volume of 3.22m units.
  • Intel (INTC) +0.09 (0.33%) to $27.51 on volume of 27.45m units.
  • Cisco Systems (CSCO) +0.04 (0.23%) to $17.18 on volume of 38.15m units.
  • Google (GOOG) +10.6801 (1.87%) to $581.53 on volume of 2.03m 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 0.89 poi nts (2%) to 45.41 points. Total volume traded in the 24 components of the index was 453.65m shares. Not a single stock declined withinin the index: 21 of the 24 index components rose, with total upside volume of 453.65mshares. The biggest gainers (percentage-wise) were –

  • Bank Of America (BAC) +0.35 (4.5%) to $8.11 on volume of 245.19m shares;
  • Citigroup Inc (C) +0.95 (3.4%) to $28.5 on volume of 42.01m shares;
  • Suntrust Banks (STI) +0.76 (3.4%) to $23.27 on volume of 7.2m shares;
  • Zions Bancorp (ZION) +0.63 (3.3%) to $19.47 on volume of 3.93m shares; and
  • Keycorp (KEY) +0.22 (3%) to $7.62 on volume of 16.87m shares.

The Semiconductor index (SOX) gained 4.39 points (1.15%) to 384.94 points. Total volume traded in the 18 components of the index was 131.36m shares. Advancers outpaced decliners by 15 to one, with 15 advancers to 1 decliners. Advancing volume exceeded declining volume by 110.33m to 21.03m shares. The biggest g ainers (percentage-wise) were –

  • National Semiconductor (NSM) +0.77 (4.1%) to $19.62 on volume of 1.56m shares;
  • ST Microelectronic (STM) +0.21 (3.9%) to $5.58 on volume of 1.8m shares;
  • Micron Technology (MU) +0.16 (2.7%) to $6.1 on volume of 21.73m shares;
  • Teradyne (TER) +0.27 (1.9%) to $14.75 on volume of 2.65m shares; and
  • Applied Materials (AMAT) +0.175 (1.6%) to $11.175 on volume of 10.04m shares.

The ChildKiller (“Defence”) index (DFX) gained 4.92 points (1.34%) to 372.95 points. Total volume traded in the 17 components of the index was 63.16m shares. Not a single stock declined withinin the index: 16 of the 17 index components rose, with total upside volume of 63.16mshares. The biggest gainers (percentage-wise) were –

  • Gencorp (GY) +0.3 (5.1%) to $6.21 on volume of 0.25m shares;
  • Alliant Tech (ATK) +1.57 (3.3%) to $48.47 on volume of 0.43m shares;
  • United Technologies (UTX) +1.4 (1.9%) to $76.4 on volume of 4.18m shares;
  • Esterline Tech (ESL) +1.08 (1.7%) to $63.72 on volume of 0.14m shares; and
  • Embraer Empresa (ERJ) +0.45 (1.7%) to $27.33 on volume of 0.83m shares.