The overall market condition for the S&P 500 equity benchmark index remains neutral or better yet, bipolar. In what proved to be a confusingly volatile week of trading, investors could not decide whether to be bullish or bearish. The net result was very little change in value. Sometimes the best thing to do is nothing at all, but it is not always the easiest. For the week, tangible assets became an acquired taste as the Dow Jones Real Estate, Dow Jones Homebuilders and Gold took the honors in terms of performance leadership.
Looking under the hood of Friday’s trading session, market breadth for the SP-500 components was positive: advancers (381) vs. decliners (116). New 5-day highs (106) more than doubled the number of new 5-day lows (45) and new 52-week highs (51) were greater than new 52-week lows (35). Key reversals favored the bulls (101) over the bears (8) today.
|SP-500||2091.54||+8.15 / +0.39%|
|Russell-2k||1212.69||+7.95 / +0.66%|
|VIX||12.83||-0.66 / -4.89%|
|10 Yr Tsy Note Rate||2.19||+0.01 / +0.46%|
|30 Yr Tsy Bond Rate||2.84||-0.01 / -0.35%|
|US Dollar Index||96.52||+0.14 / +0.15%|
||1114.61||-0.19 / -0.02%|
|WTI Crude Oil (Cash)
||42.47||+0.22 / +0.52%|
|DJ Real Estate Index||297.03||+1.68 / +0.57%|
|DJ Homebuilders Index||606.18||-1.02 / – 0.17%|
Volume Surging Stocks
- Sysco Corp (SYS) @ 41.38 (+7.42%) on 256% volume surge
- Nordstrom Inc (JWN) @ 78.13 (+4.28%) on 412% volume surge
- Hanesbrand Inc (HBI) @ 30.32 (+1.44%) on 90% volume surge
- Cerner Corp (CERN) @ 64.25 (+2.16%) on 71% volume surge
- Perrigo Co PLC (PRGO) @ 196.00 (+1.82%) on 64% volume surge
- Wyndham Worldwide (WYN) @ 79.03 (-1.70%) on 112% volume surge
- Applied Materials Inc (AMAT) @ 16.64 (-2.40%) on 110% volume surge
- Marathon Oil Grp (MRO) @ 17.40 (-3.44%) on 64% volume surge
Market Moving Events
- Economy / Productivity / USA: July Industrial Production increased +0.6% vs. consensus @ +0.4% as capacity utilization climbed to 78%.
- Economy / Inflation / USA: Producer Prices for July-2015 came in at 0.2% mth/mth vs. forecasts @ 0.1%. Annually, they declined to 0.8% but core prices increased 0.9%.
- Economy / Consumer / USA: Consumer Sentiment, according to the University of Michigan’s survey, dipped slightly for August to 92.9 vs. July @ 93.1. However, it did exceed expectations @ 92.8