The following economic data was released during the session:

  • Building Permits for June 2012 was released in the US; the result was 755K a drop of 29 compared to the last data point (784K) , which was lower than expectations of 765K.
  • Housing Starts for June 2012 was released in the US; the series posted a reading of 760K adding 49 from the prior reading of 711K – above the market’s pre-release guess of 745K.
  • MBA Mortgage Applications for July 13 2012 was released in the US; the result was 16.9% adding 19 from the prior reading of -2.1%
  • Building Permits m/m for June 2012 was released in the US; the outcome was -3.7% losing 12.1 compared to the last data point (8.4%) , which was lower than the market’s pre-release guess of -2.4%.
  • Housing Starts m/m for June 2012 was released in the US; the series posted a reading of 6.9% rising 11.7 from the prior reading of -4.8% – above expectations o f 5.2%.
  • DOE Cushing OK Crude Inventory for July 13 2012 was released in the US; the result was -500K a gain of 359 from the prior reading of -859K
  • DOE U.S. Crude Oil Inventories for July 13 2012 was released in the US; the result was -809K adding 3887 from the prior reading of -4696K – above the market’s pre-release guess of -1300K.
  • DOE U.S. Distillate Inventory for July 13 2012 was released in the US; the series posted a reading of 2619K a decline of 493 compared to the last data point (3112K) – above the consensus estimate of 1300K.
  • DOE U.S. Gasoline Inventories for July 13 2012 was released in the US; the series posted a reading of -1815K a decline of 4567 compared to the last data point (2752K) , which was lower than the consensus estimate of 1200K.

Headline Indices

The Dow Jones Industrial Average finished the session at 12,908.70 points, a change of +103.16 points (0.81%) for the session .

The session high was 12,921.94 points, while the low was down at 12,754.61 points.

Total volume traded in the 30 components of the index was 708.37m shares. Advancers outpaced decliners by 2.6 to one, with 21 advancers to 8 decliners. Advancing volume exceeded declining volume by 353.4m to 348.02m shares. The biggest gainers (percentage-wise) were –

  • Intel (INTC) +0.83 (3.3%) to $26.21 on volume of 67.25m shares;
  • Microsoft (MSFT) +0.79 (2.7%) to $30.45 on volume of 40.78m shares;
  • IBM (IBM) +4.6 (2.5%) to $188.25 on volume of 7.38m shares;
  • General Motors (GM) +0.47 (2.4%) to $20.07 on volume of 8.22m shares; and
  • Hewlett-Packard (HPQ) +0.43 (2.3%) to $19.3 on volume of 26.51m shares.

 

The S&P500 Index advanced +9.11 points (0.67%) to 1372.78 points..

Total volume traded in the 500 components of the index was 2.4bn shares. Advancers outpaced decliners by 2.6 to one, with 316 advancers to 121 de cliners. Advancing volume exceeded declining volume by 1.53bn to 843.23m shares. The biggest gainers (percentage-wise) were –

  • Grainger (W.W.) Inc. (GWW) +21.6 (11.4%) to $210.57 on volume of 2.29m shares;
  • MGIC Investment (MTG) +0.25 (10.7%) to $2.58 on volume of 5.24m shares;
  • EMC Corp. (EMC) +2.16 (9.4%) to $25.08 on volume of 33.24m shares;
  • JDS Uniphase Corp. (JDSU) +0.66 (7.6%) to $9.29 on volume of 8.95m shares; and
  • Honeywell Int’l Inc. (HON) +3.64 (6.7%) to $58.18 on volume of 7.71m shares.

The Nasdaq Composite rose +32.56 points (1.12%) to 2942.60 points. while the Nasdaq100 gained +34.22 points (1.32%) to 2625.87 points..

Total volume traded in the 100 components of the index was 561.61m shares. Advancers outpaced decliners by 3.3 to one, with 69 advancers to 21 decliners. Advancing volume exceeded declining volume by 481.84m to 79.77m shares. The biggest gainers (percentage-wise) were –

    Check Point Software Technologies (CHKP) +3.13 (6.9%) to $48.75 on volume of 7.64m shares;
  • Juniper Networks (JNPR) +0.94 (6.6%) to $15.21 on volume of 9.69m shares;
  • Citrix Systems (CTXS) +4.91 (6.4%) to $81.49 on volume of 2.53m shares;
  • NetApp (NTAP) +1.72 (6%) to $30.26 on volume of 9.64m shares; and
  • KLA-Tencor (KLAC) +2.68 (5.8%) to $48.7 on volume of 3.21m shares.

Volatility

The CBOE Volatility Index dipped 0.42 points (2.55%) to 16.06 points. and the CBOE Nasdaq100 Volatility Index declined 0.53 points (2.8%) to 18.38 points..

Breadth and Internals

A total of 3187 issues traded today on the NYSE; today’s total volume was 3.36bn shares. A total of 1921 stocks posted gains for the day, and volume in advancing issues totalled 1.92bn shares. Exerting downwards pressure on the index were 1143 losers, which accounted for a total declining volume of 1.39bn shares. 215 stocks made new 1-year highs on the NYSE, while 23 shares plumbed new 52-week depths.

On the Nasdaq 2595 tickers traded today; total Nasdaq volume was 1.75bn shares. A total of 1472 stocks posted gains for the day, with aggregate volume of 1.22bn shares changing hands in the day’s winners. The red zone of the Nasdaq exchange comprised 989 losers, and total declining volume was 0.51bn shares. 106 Nasdaq-listed stocks hit new 52-week highs, while 40 s hares 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 1372.78 +9.11 0.67%
Nasdaq Composite 2942.60 +32.56 1.12%
Nasdaq100 2625.87 +34.22 1.32%
CBOE Volatility Index 16.06 -0.42 -2.55%
CBOE Nasdaq100 Volatility Index 18.38 -0.53 -2.8%

Dow Darlings

  • Intel (INTC) +0.83 (3.3%) to $26.21 on volume of 67.3m units
  • Microsoft (MSFT) +0.79 (2.7%) to $30.45 on volume of 40.8m units
  • IBM (IBM) +4.6 (2.5%) to $188.25 on volume of 7.4m units
  • Hewlett-Packard (HPQ) +0.43 (2.3%) to $19.3 on volume of 26.5m units
  • 3M Co (MMM) +1.89 (2.1%) to $90.87 on volume of 3.8m units

Dow Duds:

  • Bank Of America (BAC) -0.39 (4.9%) to $7.53 on volume of 249.4m units
  • American Express (AXP) -0.39 (0.7%) to $58.29 on volume of 4.4m units
  • Merck (MRK) -0.25 (0.6%) to $43.94 on volume of 14.8m units
  • Wal-Mart (WMT) -0.25 (0.3%) to $72.85 on volume of 8.8m units
  • Coca-Cola (KO) -0.25 (0.3%) to $77.44 on volume of 6.1m units

Most Traded Dow stocks:

  • Bank Of America (BAC)-0.39 (4.9%) to $7.53 on volume of 249.4m units
  • Intel (INTC) +0.83 (3.3%) to $26.21 on volume of 67.3m units
  • Microsoft (MSFT) +0.79 (2.7%) to $30.45 on volume of 40.8m units
  • General Electric (GE) +0.12 (0.6%) to $19.84 on volume of 35.7m units
  • Pfizer (PFE) +0.05 (0.2%) to $23.67 on volume of 31.9m units
Precious Metals

Precious metals futures performed as follows –

Precious Metals Futures
Commodity Close Gain(Loss) %
Gold 1570.8 -18.7 -1.18
Silver 27.095 -0.221 -0.81
Palladium 577.55 -5.8 -0.99
Platinum 1404.2 -16.5 -1.16

The Gold Bugs index (XAU) dropped 1.79 points (1.21%) to 146.3 points. Total volume traded in the 16 components of the index was 55.36m shares. Decliners outpaced gainers by 15 to one, with 15 decliners to 1 advancers. Declining volume was greater than advancing volume by 40.72m to 14.64m shares. The main decliners (in percentage terms) were –

  • GoldCorp (GG) -1.12 (3.3%) to $32.53 on volume of 5.54m shares;
  • Yamana Gold (AUY) -0.45 (3%) to $14.36 on volume of 4.85m shares;
  • AngloGold Ashanti (AU) -0.83 (2.6%) to $31.34 on volume of 1.85m shares;
  • Gold Fields Ltd (GFI) -0.22 (1.8%) to $11.92 on volume of 2.35m shares; and
  • Coeur d’Alene (CDE) -0.26 (1.7%) to $15.36 on volume of 1.5m shares.
Energy Complex

Energy futures performed as follows –

Energy Futures
Commodity Close Gain(Loss) %
Crude Oil 90.17 0.63 0.7
Heating Oil 2.8771 0.0349 1.23
Natural Gas 2.95 0.164 5.89
Gasoline RBOB 2.7755 0.0406 1.48

The Oil Services index (OSX) added 2.82 points (1.35%) to 211.78 points. Total volume traded in the 15 components of the index was 60.16m shares. Advancers outpaced decliners by 11 to one, with 11 advancers to 1 decliners. Advancing volume exceeded declining volume by 59.8m to 0.37m shares. The biggest gainers (percentage-wise) were –

  • Nabors Industries (NBR) +0.38 (2.7%) to $14.45 on volume of 8.84m shares;
  • Halliburton (HAL) +0.77 (2.6%) to $30.17 on volume of 14.48m shares;
  • Noble Corp (NE) +0.9 (2.6%) to $35.4 on volume of 3.82m shares;
  • Weatherford International (WFT) +0.29 (2.3%) to $12.82 on volume of 10.83m shares; and
  • Baker Hughes (BHI) +0.92 (2.2%) to $41.84 on volume of 6.08m shares.
Currency Futures

Currency futures performed as follows –

Currency Futures
Index Close Gain(Loss) %
U.S. Dollar Index 83.095 -0.073 -0.09
Euro FX 1.2272 -0.0025 -0.2

Bellwethers

The nine-stock group that makes up the Rant bellwethers advanced on average by 1%. The fallout occurred as follows:

  • General Electric (GE) +0.12 (0.61%) to $19.84 on volume of 35.7m units.
  • Citigroup (C) -0.28 (1.02%) to $27.10 on volume of 29.74m units.
  • Wal-Mart (WMT) -0.25 (0.34%) to $72.85 on volume of 8.8m units.
  • IBM (IBM) +4.60 (2.5%) to $188.25 on volume of 7.4m units.
  • Intel (INTC) +0.83 (3.27%) to $26.21 on volume of 67.26m units.
  • Cisco Systems (CSCO) +0.47 (2.9%) to $16.70 on volume of 33.66m units.
  • Google (GOOG) +4.03 (0.7%) to $580.76 on volume of 1.53m 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) lost 0.34 points (0.73%) to 45.99 points. Total volume traded in the 24 components of the index was 426.06m shares. Decliners outpaced gainers by 3.2 to one, with 16 decliners to 5 advancers. Declining volume was greater than advancing volume by 402.64m to 23.41m shares. The main decliners (in percentage terms) were –

  • Bank Of America (BAC) -0.39 (4.9%) to $7.53 on volume of 249.4m shares;
  • Regions Financial (RF) -0.13 (1.9%) to $6.72 on volume of 13.31m shares;
  • Northern Trust (NTRS) -0.83 (1.8%) to $4624 on volume of 2.16m shares;
  • Capital One Financial (COF) -0.94 (1.7%) to $54.89 on volume of 3.73m shares; and
  • Keycorp (KEY) -0.13 (1.6%) to $7.83 on volume of 9.42m shares.

The Semiconductor index (SOX) gained 12.46 points (3.55%) to 363.91 points. Total volume traded in the 18 components of the index was 186.76m shares. Advancers outpaced decliners by 15 to one, with 15 advancers to 1 decliners. Advancing volume exceeded declining volume by 1 86.42m to 0.34m shares. The biggest gainers (percentage-wise) were –

  • ST Microelectronic (STM) +0.28 (5.9%) to $5 on volume of 1.16m shares;
  • KLA-Tencor Cp (KLAC) +2.68 (5.8%) to $48.7 on volume of 3.21m shares;
  • Texas Instruments (TXN) +1.06 (4%) to $27.65 on volume of 7.99m shares;
  • Linear Technology (LLTC) +1.17 (3.9%) to $31 on volume of 3.08m shares; and
  • Xilinx (XLNX) +1.12 (3.6%) to $32.01 on volume of 5.42m shares.

The ChildKiller (“Defence”) index (DFX) added 5.88 points (1.61%) to 370.84 points. Total volume traded in the 17 components of the index was 53.19m shares. Not a single stock declined withinin the index: 16 of the 17 index components rose, with total upside volume of 53.19mshares. The biggest gainers (percentage-wise) were –

  • ITT Corporation (ITT) +0.67 (3.8%) to $18.35 on volume of 1.78m shares;
  • FLIRr Systems (FLIR) +0.64 (3.5%) to $19.15 on volume of 2.13m shares;
  • Esterline Tech (ESL) +1.36 (2.3%) to $59.66 on volume of 0.15m shares;
  • Rockwell Collins (COL) +1.02 (2.1%) to $48.9 on volume of 0.82m shares; and
  • L-3 Holdings (LLL) +1.37 (2%) to $71.03 on volume of 0.67m shares.