Broad Market Tone: Advance/Decline Line: Substantially LowerSector Performance: Almost Every Sector DecliningVolume: Below AverageMarket Leading Stocks: Performing In LineEquity Investor Angst: VIX 21.55 +8.59%ISE Sentiment Index 75.0 -1.88%Total Put/Call 1.30 +4.84%NYSE Arms 1.06 -18.04%Credit Investor Angst:North American Investment Grade CDS Index 114.15 +5.13%European Financial Sector CDS Index 280.55 +5.78%Western Europe Sovereign Debt CDS Index 293.57 +2.83%Emerging Market CDS Index 286.52 +6.38%2-Year Swap Spread 38.0...
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U.S. Week Ahead by MarketWatch (video).Wall St. Week Ahead by Reuters.Stocks to Watch Monday by MarketWatch.Weekly Economic Calendar by Briefing.com.BOTTOM LINE: I expect US stocks to finish the week modestly lower on rising global growth fears, less US economic optimism, rising Eurozone debt angst, technical selling, less financial sector optimism, more shorting and high energy prices. My intermediate-term trading indicators are giving neutral signals and the Portfolio is 50% net long heading into the week. Read
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Evening HeadlinesBloomberg: JPMorgan(JPM) Loses $2 Billion in Chief Investment Office. JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon said the firm lost about $2 billion on synthetic credit securities after an “egregious’” failure in its chief investment office, which the bank says focuses on hedging. “This portfolio has proven to be riskier, more volatile and less effective as an economic hedge than the firm previously believed,” the New York-based company said today in a quarterly securities filing. JPMorgan declined 5.5 percent to $38.50 in extended trading...
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Style Outperformer:Mid-Cap Growth +.82%Sector Outperformers: 1) Semis +1.72% 2) Homebuilders +1.62% 3) Software +1.29%Stocks Rising on Unusual Volume:NVDA, GSM, RGLD, ESRX, BBBY, CIEN, DDS, MDR, DY, GSM, AH and TPXStocks With Unusual Call Option Activity: 1) ANN 2) MHR 3) JWN 4) JPM 5) JBLUStocks With Most Positive News Mentions:1) PG 2) ABC 3) BBBY 4) JWN 5) VZCharts:ETFs Rising on Unusual VolumeStocks Rising on Unusual Volume Read
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Style Underperformer:Small-Cap Value -.40%Sector Underperformers:1) Education -2.80% 2) Steel -.97% 3) Banks -.91%Stocks Falling on Unusual Volume:JPM, UAN, C, RPXC, CHK, ERF, RNF, MKTG, INFI, BRKS, RDY, OTTR, GSVC, APEI, CPNO, APOL, SVVC, SYNC, OSUR, GEOY, UBNT, JOBS, OZRK, PMFG, INFI, JWN, WTS, DKS, AVP, DAR, HOG, UAN, CHKR, RNDY and ALRStocks With Unusual Put Option Activity:1) JPM 2) CA 3) JWN 4) RIO 5) FXAStocks With Most Negative News Mentions:1) BBY 2) ANR 3) JPM 4) GEOY 5) KEMCharts:ETFs Falling on Unusual VolumeStocks Falling on Unusual Volume Read
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Bloomberg:Schaeuble Dares Greece Exit as Contingency Plans Start. As German Finance Minister Wolfgang Schaeuble dares Greece to quit the euro, investors and economists are mapping out what he and fellow policy makers need to do to save the single currency if his bluff is called. Emergency lending and bond buying from the European Central Bank coupled with recapitalizations and deposit insurance for lenders and broader powers for the region’s rescue fund are among the prescriptions for insulating Spain and other cash- strained nations from what Citigroup Inc. calls a “Grexit.” Pressure...
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Broad Market Tone: Advance/Decline Line: LowerSector Performance: MixedVolume: Below AverageMarket Leading Stocks: UnderperformingEquity Investor Angst: VIX 19.46 +3.46%ISE Sentiment Index 116.0 +1.87%Total Put/Call 1.34 +38.14%NYSE Arms 1.12 +11.08%Credit Investor Angst:North American Investment Grade CDS Index 107.47 +3.23%European Financial Sector CDS Index 265.08 +.35%Western Europe Sovereign Debt CDS Index 285.67 +.86%Emerging Market CDS Index 269.65 +3.25%2-Year Swap Spread 34.0 +2.25 basis pointsTED Spread 37.50...
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IndicesS&P 500 1,353.39 -1.15%DJIA 12,820.60 -1.67%NASDAQ 2,933.82 -.76%Russell 2000 790.06 -.22%Value Line Geometric(broad market) 349.33 -.98%Russell 1000 Growth 639.93 -1.09%Russell 1000 Value 663.01 -1.03%Morgan Stanley Consumer 790.81 -.60%Morgan Stanley Cyclical 945.77 -1.71%Morgan Stanley Technology 668.57 -2.38%Transports 5,140.70 -1.66%Utilities 472.01 +.88%Bloomberg European Bank/Financial Services 73.55 -.65%MSCI Emerging Markets 40.26 -4.21%Lyxor L/S Equity Long Bias 1,020.61 -2.08%Lyxor L/S Equity Variable Bias 817.96 -.95%Lyxor L/S Equity Short Bias 539.14...
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S&P 500 1,353.39 -1.15%*The Weekly Wrap by Briefing.com.*5-Day Change Read
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Evening HeadlinesBloomberg: Spain Underplaying Bank Losses Faces Fate Ireland Couldn’t Avoid. Spain is underestimating potential losses by its banks, ignoring the cost of souring residential mortgages, as it seeks to avoid an international rescue like the one Ireland needed to shore up its financial system. The government has asked lenders to increase provisions for bad debt by 54 billion euros ($70 billion) to 166 billion euros. That’s enough to cover losses of about 50 percent on loans to property developers and construction firms, according to the Bank of Spain. There wouldn’t...
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