The following economic data was released during the session:

  • Existing Home Sales m/m for July 2012 was released in Canada; the series posted a reading of 0.0% rising 1.3 from the prior reading of -1.3%
  • DOE U.S. Gasoline Inventories for August 10 2012 was released in the US; the result was -2371K dropping 570 compared to the last data point (-1801K) , which was lower than the market’s pre-release guess of -2000K.
  • DOE U.S. Distillate Inventory for August 10 2012 was released in the US; the result was 677K advancing 1401 from the prior reading of -724K – above the consensus estimate of -275K.
  • DOE U.S. Crude Oil Inventories for August 10 2012 was released in the US; the outcome was -3699K gaining 30 from the prior reading of -3729K , which was lower than the market’s pre-release guess of -1500K.
  • DOE Cushing OK Crude Inventory for August 10 2012 was released in the US; the result was 899K advancing 1701 from the prior reading of -802K
  • Manufacturing for July 2012 was released in the US; the result was 0.5% unchanged from the last data release for this series. , in line with the consensus estimate of 0.5%.
  • Total Net TIC Flows for June 2012 was released in the US; the outcome was $16.7B unchanged from the last data release for this series.
  • Net Long-term TIC Flows for June 2012 was released in the US; the result was $9.3B unchanged from the last data release for this series. , in line with the consensus estimate of $40.0B.
  • Consumer Price Index n.s.a. for July 2012 was released in the US; the outcome was 229.104 a decline of 0.37 compared to the last data point (229.478) , which was lower than the consensus estimate of 229.505.
  • Consumer Price Index Core Index s.a. for July 2012 was released in the US; the result was 230.124 a gain of 0.21 from the prior reading of 229.916
  • Co nsumer Price Index m/m for July 2012 was released in the US; the series posted a reading of 0.0% unchanged from the last data release for this series. , which was lower than the market’s pre-release guess of 0.2%.
  • Consumer Price Index Ex Food & Energy m/m for July 2012 was released in the US; the result was 0.1% a drop of 0.1 compared to the last data point (0.2%) , which was lower than the market’s pre-release guess of 0.2%.
  • Consumer Price Index Ex Food & Energy y/y for July 2012 was released in the US; the outcome was 2.1% losing 0.1 compared to the last data point (2.2%) , which was lower than the market’s pre-release guess of 2.2%.
  • MBA Mortgage Applications for August 10 2012 was released in the US; the outcome was -4.5% dropping 2.7 compared to the last data point (-1.8%)
  • Capacity Utilization for July 2012 was released in the US; the series posted a reading of 79.3% a gain of 0.4 from the prior reading o f 78.9% – above the consensus estimate of 79.2%.
  • Industrial Production for July 2012 was released in the US; the result was 0.6% rising 0.5 from the prior reading of 0.1% – above expectations of 0.5%.
  • NAHB Housing Market Index for August 2012 was released in the US; the result was 37 an increase of 2 from the prior reading of 35 – above the consensus estimate of 35.
  • Empire Manufacturing for August 2012 was released in the US; the outcome was -5.85 falling 13.24 compared to the last data point (7.39) , which was lower than the market’s pre-release guess of 7.00.

Headline Indices

The Dow Jones Industrial Average finished the session at 13,164.78 points, a change of -7.36 points (-0.06%) for the session.

The session high was 13,192.89 points, while the low was down at 13,138.23 points.

Total volume traded in the 30 components of the index was 350.52m shares. Advancers and decliners were split evenly, 15 decliners to 15 advancers. Advancing volume exceeded declining volume by 195.11m shares to 155.4m. The main decliners (in percentage terms) were –

  • Intel (INTC) -0.21 (0.8%) to $26.27 on volume of 25.96m shares;
  • Merck (MRK) -0.35 (0.8%) to $44.06 on volume of 6.74m shares;
  • Johnson & Johnson (JNJ) -0.29 (0.4%) to $68.35 on volume of 8.45m shares;
  • Boeing (BA) -0.3 (0.4%) to $73.07 on volume of 3.04m shares; and
  • AT&T (T) -0.15 (0.4%) to $37.1 on volume of 19.74m shares.

 

The S&P500 Index added +1.60 points (0.11%) to 1405.53 points..

Total volume traded in the 500 components of the index was 1.88bn shares. Advancers outpaced decliners by 1.8 to one, with 283 advancers to 159 decliners. Advancing volume exceeded declining volume by 1.13bn to 734.91m shares. The biggest gainers (percentage-wise) were –

  • Abercrombie & Fitch Co. (ANF) +2.9 (9%) to $35.23 on volume of 11.62m shares;
  • JDS Unip hase Corp. (JDSU) +0.88 (8.2%) to $11.56 on volume of 19.25m shares;
  • Sprint Nextel Corp. (S) +0.4 (8%) to $5.39 on volume of 136.3m shares;
  • Unisys Corp. (UIS) +1.09 (5.6%) to $20.47 on volume of 0.67m shares; and
  • Compuware Corp. (CPWR) +0.38 (4%) to $9.8 on volume of 2.82m shares.

The Nasdaq Composite rose +13.95 points (0.46%) to 3030.93 points. while the Nasdaq100 advanced +7.68 points (0.28%) to 2735.47 points..

Total volume traded in the 100 components of the index was 583.5m shares. Advancers outpaced decliners by 3.2 to one, with 68 advancers to 21 decliners. Advancing volume exceeded declining volume by 373.71m to 209.8m shares. The biggest gainers (percentage-wise) were –

  • Leap Wireless International (LEAP) +0.34 (6.1%) to $5.93 on volume of 2.67m shares;
  • Akamai Technologies (AKAM) +1.36 (3.8%) to $36.8 on volume of 5.07m shares;
  • Starbucks (SBUX) +1.67 (3.6%) to $48.1 on volume of 14.67m sh ares;
  • Symantec (SYMC) +0.49 (2.9%) to $17.67 on volume of 10.74m shares; and
  • Sears Holdings (SHLD) +1.43 (2.6%) to $56.6 on volume of 1.35m shares.

Volatility

The CBOE Volatility Index fell 0.22 points (1.48%) to 14.63 points. and the CBOE Nasdaq100 Volatility Index lost 0.5 points (3.25%) to 14.90 points..

Breadth and Internals

A total of 3171 issues traded today on the NYSE; today’s total volume was 2.53bn shares. A total of 1924 stocks posted gains for the day, and volume in advancing issues totalled 1.58bn shares. Exerting downwards pressure on the index were 1136 losers, which accounted for a total declining volume of 0.92bn shares. 105 stocks made new 1-year highs on the NYSE, while 14 shares plumbed new 52-week depths.

On the Nasdaq 2584 tickers traded today; total Nasdaq volume was 1.49bn shares. A total of 1709 stocks posted gains for the day, with aggregate volume of 0.95bn shares changing hands in the day’s winners. The red zone of the Nasdaq exchange comprised 783 losers, and total declining volume was 0.53bn shares. 61 Nasdaq-listed stocks hit new 52-week highs, while 45 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 1405.53 +1.60 0.11%
Nasdaq Composite 3030.93 +13.95 0.46%
Nasdaq100 2735.47 +7.68 0.28%
CBOE Volatility Index 14.63 -0.22 -1.48%
CBOE Nasdaq100 Volatility Index 14.90 -0.50 -3.25%

Dow Darlings

  • Bank Of America (BAC) +0.09 (1.2%) to $7.87 on volume of 72.4m units
  • American Express (AXP) +0.58 (1%) to $56.66 on volume of 2.9m units
  • United Technologies (UTX) +0.745 (1%) to $77.99 on volume of 2.9m units
  • Wal-Mart (WMT) +0.44 (0.6%) to $74.45 on volume of 7.7m units
  • Home Depot (HD) +0.29 (0.5%) to $55 on volume of 9m units

Dow Duds:

  • Intel (INTC) -0.21 (0.8%) to $26.27 on volume of 26m units
  • Merck (MRK) -0.35 (0.8%) to $44.06 on volume of 6.7m units
  • Johnson & Johnson (JNJ) -0.29 (0.4%) to $68.35 on volume of 8.5m units
  • Boeing (BA) -0.3 (0.4%) to $73.07 on volume of 3m units
  • AT&T (T) -0.15 (0.4%) to $37.1 on volume of 19.7m units

Most Traded Dow stocks:

  • Bank Of America (BAC) +0.09 (1.2%) to $7.87 on volume of 72.4m units
  • General Electric (GE) +0.02 (0.1%) to $20.96 on volume of 28.6m units
  • Intel (INTC)-0.21 (0.8%) to $26.27 on volume of 26m units
  • Microsoft (MSFT) +0.07 (0.2%) to $30.2 on volume of 24.2m units
  • AT&T (T)-0.15 (0.4%) to $37.1 on volume of 19.7m units
Precious Metals

Precious metals futures performed as follows –

Precious Metals Futures
Commodity Close Gain(Loss) %
Gold 1606.6 4.2 0.26
Silver 27.896 0.049 0.18
Palladium 578.05 -0.35 -0.06
Platinum 1396.2 -2.9 -0.21

The Gold Bugs index (XAU) advanced 0.63 points (0.41%) to 155.62 points. Total volume traded in the 16 components of the index was 42.33m shares. Advancers outpaced decliners by 1.7 to one, with 10 advancers to 6 decliners. Advancing volume exceeded declining volume by 21.33m to 21m shares. The biggest gainers (percentage-wise) were –

  • Barrick Gold (ABX) +0.55 (1.6%) to $34.69 on volume of 5.07m shares;
  • Kinroos Gold (KGC) +0.11 (1.4%) to $8.13 on volume of 4.68m shares;
  • Coeur d’Alene (CDE) +0.26 (1.3%) to $20.01 on volume of 0.97m shares;
  • Silver Stand Resources (SSRI) +0.16 (1.3%) to $12.54 on volume of 0.41m shares; and
  • Silver Wheaton (SLW) +0.31 (1%) to $30.75 on volume of 1.93m shares.
Energy Complex

Energy futures performed as follows –

Energy Futures
Commodity Close Gain(Loss) %
Crude Oil 94.62 0.88 0.94
Heating Oil 3.0852 0.0506 1.67
Natural Gas 2.981 -0.085 -2.77
Gasoline RBOB 3.084 0.0826 2.75

The Oil Services index (OSX) dipped 0.41 points (0.18%) to 225.13 points. Total volume traded in the 15 components of the index was 45.17m shares. Decliners outpaced gainers by 1.4 to one, with 7 decliners to 5 advancers. Declining volume was greater than advancing volume by 36.55m to 8.62m shares. The main decliners (in percentage terms) were –

  • Weatherford International (WFT) -0.31 (2.5%) to $12.15 on volume of 8.77m shares;
  • Tidewater (TDW) -0.57 (1.2%) to $48.75 on volume of 0.35m shares;
  • Schlumberger (SLB) -0.6 (0.8%) to $73.87 on volume of 4.48m shares;
  • Halliburton (HAL) -0.27 (0.8%) to $34.58 on volume of 9.89m shares; and
  • Noble Corp (NE) -0.23 (0.6%) to $37.8 on volume of 1.45m shares.
Currency Futures

Currency futures performed as follows –

Currency Futures
Index Close Gain(Loss) %
U.S. Dollar Index 82.725 0.198 0.24
Euro FX 1.2293 -0.0042 -0.34

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) +0.02 (0.1%) to $20.96 on volume of 28.57m units.
  • Citigroup (C) -0.03 (0.1%) to $28.74 on volume of 16.54m units.
  • Wal-Mart (WMT) +0.44 (0.59%) to $74.45 on volume of 7.72m units.
  • IBM (IBM) +0.11 (0.06%) to $198.40 on volume of 1.98m units.
  • Intel (INTC) -0.21 (0.79%) to $26.27 on volume of 25.96m units.
  • Cisco Systems (CSCO) +0.18 (1.05%) to $17.35 on volume of 50.46m units.
  • Google (GOOG) -1.12 (0.17%) to $667.54 on volume of 2.4m 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) advanced 0.19 point s (0.41%) to 46.73 points. Total volume traded in the 24 components of the index was 172.48m shares. Advancers outpaced decliners by 4 to one, with 16 advancers to 4 decliners. Advancing volume exceeded declining volume by 123.82m to 40.08m shares. The biggest gainers (percentage-wise) were –

  • Zions Bancorp (ZION) +0.35 (1.9%) to $19.16 on volume of 1.8m shares;
  • Comerica Inc (CMA) +0.36 (1.2%) to $31.03 on volume of 0.9m shares;
  • Bank Of America (BAC) +0.09 (1.2%) to $7.87 on volume of 72.29m shares;
  • People’s United (PBCT) +0.135 (1.1%) to $12.04 on volume of 2.14m shares; and
  • BB&T Corp (BBT) +0.33 (1%) to $31.88 on volume of 2.1m shares.

The Semiconductor index (SOX) gained 2.36 points (0.59%) to 401.48 points. Total volume traded in the 18 components of the index was 120.68m shares. Advancers outpaced decliners by 4.3 to one, with 13 advancers to 3 decliners; however declining volume was greater than advancing volume by 60.63m to 60.05m shares. The biggest gainers (percentage-wise) were –

  • Sandisk (SNDK) +1.03 (2.5%) to $41.56 on volume of 5.31m shares;
  • Advanced Micro Devices (AMD) +0.07 (1.7%) to $4.19 on volume of 9.75m shares;
  • Texas Instruments (TXN) +0.42 (1.4%) to $29.9 on volume of 7.83m shares;
  • Marvell Technology (MRVL) +0.16 (1.4%) to $11.94 on volume of 8.7m shares; and
  • Teradyne (TER) +0.15 (1%) to $15.43 on volume of 1.08m shares.

The ChildKiller (“Defence”) index (DFX) rose 1.43 points (0.37%) to 385.3 points. Total volume traded in the 17 components of the index was 42.66m shares. Advancers outpaced decliners by 4.3 to one, with 13 advancers to 3 decliners. Advancing volume exceeded declining volume by 38.35m to 4.31m shares. The biggest gainers (percentage-wise) were –

  • Embraer Empresa (ERJ) +0.55 (2.1%) to $26.29 on volume of 0.74m shares;
  • Gencorp (GY) +0.11 (1.3%) to $8.8 on volume of 0.31m shares ;
  • Esterline Tech (ESL) +0.6 (1.1%) to $54.6 on volume of 0.08m shares;
  • United Technologies (UTX) +0.745 (1%) to $77.99 on volume of 2.94m shares; and
  • General Dynamics (GD) +0.41 (0.6%) to $64.2 on volume of 1.44m shares.