The following economic data was released during the session:

  • International Merchandise Trade for May 2012 was released in Canada; the series posted a reading of -0.76B a decline of 0.14 compared to the last data point (-0.62B) , which was lower than the market’s pre-release guess of -0.43B.
  • Wholesale Inventories for May 2012 was released in the US; the outcome was 0.3% losing 0.2 compared to the last data point (0.5%) , in line with expectations of 0.3%.
  • MBA Mortgage Applications for July 6 2012 was released in the US; the result was -2.1% adding 4.6 from the prior reading of -6.7%

Headline Indices

The Dow Jones Industrial Average finished the session at 12,604.53 points, a change of -48.59 points (-0.38%) for the session.

The session high was 12,661.97 points, while the low was down at 12,534.33 points.

Total volume traded in the 30 components of the index was 568.78m shares. Decliners ou tpaced gainers by 2 to one, with 20 decliners to 10 advancers; however advancing volume exceeded declining volume by 292.78m shares to 276m. The main decliners (in percentage terms) were –

  • Boeing (BA) -1.7 (2.3%) to $71.52 on volume of 5.75m shares;
  • United Technologies (UTX) -1.64 (2.2%) to $72.51 on volume of 4.88m shares;
  • Microsoft (MSFT) -0.44 (1.5%) to $29.3 on volume of 36.42m shares;
  • Du Pont (DD) -0.51 (1.1%) to $47.14 on volume of 8.39m shares; and
  • Home Depot (HD) -0.55 (1.1%) to $51.67 on volume of 9.86m shares.

 

The S&P500 Index declined 0.02 points (0%) to 1341.45 points..

Total volume traded in the 500 components of the index was 2.28bn shares. Advancers outpaced decliners by 1 to one, with 226 advancers to 220 decliners; however declining volume was greater than advancing volume by 1.16bn to 1.12bn shares. The main decliners (in percentage terms) were –

  • Best Buy Co.Inc. (BBY) -1. 77 (8.4%) to $19.37 on volume of 16.39m shares;
  • Ciena Corp. (CIEN) -1.21 (7.9%) to $14.15 on volume of 12.32m shares;
  • JDS Uniphase Corp. (JDSU) -0.8 (7.9%) to $9.37 on volume of 9.67m shares;
  • Dean Foods (DF) -1.06 (6.6%) to $14.99 on volume of 7.86m shares; and
  • Office Depot (ODP) -0.13 (6%) to $2.03 on volume of 4.97m shares.

The Nasdaq Composite lost 14.35 points (0.49%) to 2887.98 points. while the Nasdaq100 fell 14.53 points (0.56%) to 2570.99 points..

Total volume traded in the 100 components of the index was 489.73m shares. Decliners outpaced gainers by 3 to one, with 67 decliners to 22 advancers. Declining volume was greater than advancing volume by 390.63m to 96.81m shares. The main decliners (in percentage terms) were –

  • Apollo Group (APOL) -1.475 (4.3%) to $32.44 on volume of 3.5m shares;
  • NII Holdings (NIHD) -0.4 (4.3%) to $8.87 on volume of 3.77m shares;
  • Focus Media Holding (FMCN) -0.87 (4.3%) to $19.37 on volume of 2.31m shares;
  • DISH Network (DISH) -0.95 (3.4%) to $26.8 on volume of 2.5m shares; and
  • Logitech International (LOGI) -0.31 (3.1%) to $9.84 on volume of 0.72m shares.

Volatility

The CBOE Volatility Index fell 0.68 points (3.63%) to 18.04 points. and the CBOE Nasdaq100 Volatility Index declined 0.09 points (0.44%) to 20.58 points..

Breadth and Internals

A total of 3211 issues traded today on the NYSE; today’s total volume was 3.36bn shares. A total of 1641 stocks posted gains for the day, and volume in advancing issues totalled 1.75bn shares. Exerting downwards pressure on the index were 1453 losers, which accounted for a total declining volume of 1.58bn shares. 118 stocks made new 1-year highs on the NYSE, while 28 shares plumbed new 52-week depths.

On the Nasdaq 2575 tickers traded today; total Nasdaq volume was 1.53bn shares. A total of 1226 stocks posted gains for the day, with aggregate volume of 0.54bn shares changing hands in the day’s winners. The red zone of the Nasdaq exchange comprised 1221 losers, and total declining volume was 0.98bn shares. 70 Nasdaq-listed stocks hit new 52-week highs, while 48 sh ares 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 1341.45 -0.02 -0%
Nasdaq Composite 2887.98 -14.35 -0.49%
Nasdaq100 2570.99 -14.53 -0.56%
CBOE Volatility Index 18.04 -0.68 -3.63%
CBOE Nasdaq100 Volatility Index 20.58 -0.09 -0.44%

Dow Darlings

  • Hewlett-Packard (HPQ) +0.58 (3%) to $19.69 on volume of 24.3m units
  • Bank Of America (BAC) +0.15 (2%) to $7.63 on volume of 127.1m units
  • Exxon-Mobil (XOM) +1.27 (1.5%) to $84.38 on volume of 17.9m units
  • JPMorganChase (JPM) +0.34 (1%) to $34.59 on volume of 34.4m units
  • Chevron (CVX) +0.97 (0.9%) to $104.85 on volume of 5.7m units

Dow Duds:

  • Boeing (BA) -1.7 (2.3%) to $71.52 on volume of 5.8m units
  • United Technologies (UTX) -1.64 (2.2%) to $72.51 on volume of 4.9m units
  • Microsoft (MSFT) -0.44 (1.5%) to $29.3 on volume of 36.4m units
  • Du Pont (DD) -0.51 (1.1%) to $47.14 on volume of 8.4m units
  • Home Depot (HD) -0.55 (1.1%) to $51.67 on volume of 9.9m units

Most Traded Dow stocks:

  • Bank Of America (BAC) +0.15 (2%) to $7.63 on volume of 127.1m units
  • General Electric (GE) +0.06 (0.3%) to $19.68 on volume of 42m units
  • Microsoft (MSFT)-0.44 (1.5%) to $29.3 on volume of 36.4m units
  • JPMorganChase (JPM) +0.34 (1%) to $34.59 on volume of 34.4m units
  • Intel (INTC)-0.17 (0.7%) to $25.39 on volume of 31.7m units
Precious Metals

Prec ious metals futures performed as follows –

Precious Metals Futures
Commodity Close Gain(Loss) %
Gold 1575.7 -4.1 -0.26
Silver 27.023 0.141 0.52
Palladium 582.95 6.35 1.1
Platinum 1431.6 1.9 0.13

The Gold Bugs index (XAU) dropped 2.65 points (1.75%) to 148.53 points. Total volume traded in the 16 components of the index was 87.28m shares. Decliners outpaced gainers by 3.7 to one, with 11 decliners to 3 advancers. Declining volume was greater than advancing volume by 79.11m to 4.63m shares. The main decliners (in percentage terms) were –

  • GoldCorp (GG) -3.58 (9.7%) to $33.17 on volume of 15.19m shares;
  • Royal Gold (RGLD) -1.64 (2.2%) to $73.32 on volume of 1.05m shares;
  • Agnico Eagle Mines (AEM) -0.8 (2.1%) to $37.94 on volume of 2.49m shares;
  • Barrick Gold (ABX) -0.68 (1.9%) to $34.95 on volume of 12.88m shares; and
  • Yamana Gold (AUY) -0.21 (1.4%) to $14.73 on volume of 6.08m shares.
Energy Complex

Energy futures performed as follows –

Energy Futures
Commodity Close Gain(Loss) %
Crude Oil 86.19 1.89 2.24
Heating Oil 2.7618 0.0423 1.56
Natural Gas 2.837 0.109 4
Gasoline RBOB 2.7689 0.022 0.8

The Oil Services index (OSX) added 3.54 points (1.78%) to 202.89 points. Total volume traded in the 15 components of the index was 58.53m shares. Not a single stock declined withinin the index: 12 of the 15 index components rose, with total upside volume of 58.53mshares. The biggest gainers (percentage-wise) were –

  • Rowan Co (RDC) +1.17 (3.6%) to $33.95 on volume of 1.91m shares;
  • Noble Corp (NE) +1.13 (3.5%) to $33.34 on volume of 4.69m shares;
  • Weatherford International (WFT) +0.33 (2.8%) to $12.27 on volume of 11.18m shares;
  • Tidewater (TDW) +1 (2.1%) to $47.57 on volume of 0.41m shares; and
  • Nabors Industries (NBR) +0.23 (1.8%) to $13.24 on volume of 6.84m shares.
Currency Futures

Currency futures performed as follows –

Currency Futures
Index Close Gain(Loss) %
U.S. Dollar Index 83.605 0.046 0.06
Euro FX 1.2232 -0.0031 -0.25

Bellwethers

The nine-stock group that makes up the Rant bellwethers declined on average by 0.3%. The fallout occurred as follows:

  • General Electric (GE) +0.06 (0.31%) to $19.68 on volume of 42.01m units.
  • Citigroup (C) -0.01 (0.04%) to $25.87 on volume of 36.78m units.
  • Wal-Mart (WMT) +0.15 (0.21%) to $72.26 on volume of 11.73m units.
  • IBM (IBM) -1.01 (0.54%) to $185.25 on volume of 5.35m units.
  • Intel (INTC) -0.17 (0.67%) to $25.39 on volume of 31.74m units.
  • Cisco Systems (CSCO) -0.03 (0.18%) to $16.38 on volume of 41.05m units.
  • Google (GOOG) -10.51 (1.81%) to $571.19 on volume of 3.44m 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 0.54 poin ts (1.21%) to 45.09 points. Total volume traded in the 24 components of the index was 330.66m shares. Advancers outpaced decliners by 6 to one, with 18 advancers to 3 decliners. Advancing volume exceeded declining volume by 267.72m to 62.93m shares. The biggest gainers (percentage-wise) were –

  • PNC Financial (PNC) +1.75 (2.9%) to $61.41 on volume of 3.28m shares;
  • Fifth Third Bancorp (FITB) +0.3 (2.3%) to $13.41 on volume of 7.18m shares;
  • Suntrust Banks (STI) +0.5 (2.1%) to $24.21 on volume of 5.95m shares;
  • Regions Financial (RF) +0.13 (2%) to $6.56 on volume of 17.44m shares; and
  • Bank Of America (BAC) +0.15 (2%) to $7.63 on volume of 127.12m shares.

The Semiconductor index (SOX) slid 3.34 points (0.92%) to 359.67 points. Total volume traded in the 18 components of the index was 147.71m shares. Decliners outpaced gainers by 3 to one, with 12 decliners to 4 advancers. Declining volume was greater than advancing volume by 111.17m to 36.54m shares. The main decliners (in percentage terms) were –

  • ST Microelectronic (STM) -0.12 (2.4%) to $4.79 on volume of 1.18m shares;
  • Advanced Micro Devices (AMD) -0.1 (2%) to $4.89 on volume of 16.03m shares;
  • Sandisk (SNDK) -0.67 (1.9%) to $33.99 on volume of 6.02m shares;
  • Applied Materials (AMAT) -0.14 (1.3%) to $10.57 on volume of 9.69m shares; and
  • Marvell Technology (MRVL) -0.13 (1.2%) to $10.52 on volume of 8.61m shares.

The ChildKiller (“Defence”) index (DFX) declined 4.74 points (1.29%) to 361.94 points. Total volume traded in the 17 components of the index was 67.88m shares. Decliners outpaced gainers by 7 to one, with 14 decliners to 2 advancers; however advancing volume exceeded declining volume by 43.09m shares to 24.78m. The main decliners (in percentage terms) were –

  • Embraer Empresa (ERJ) -1.87 (7.5%) to $23.06 on volume of 3.62m shares;
  • Esterline Tech (ESL) -1.55 (2.5%) to $60.53 on volume of 0.37m shares;
  • Boeing (BA) -1.7 (2.3%) to $71.52 on volume of 5.75m shares;
  • United Technologies (UTX) -1.64 (2.2%) to $72.51 on volume of 4.88m shares; and
  • Raytheon (RTN) -0.78 (1.4%) to $55.31 on volume of 1.88m shares.