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You didn't really think I could stay shut up, did you?
Now, back to what I was saying...
Economic News
The UBS-ICSC Same Store sales numbers showed year on year growth of a massive 1.6%... that's the number that retailers actually have to put up with in their bottom line, not the Soviet-style "count 10 computers for each one sold" embedded within the hedonically perverted Consumer Spending numbers in GDP.
The UBS survey was reinforced by the RedBook numbers, which were actually weaker than the UBS survey, at 0.7% year on year.
Before either of those was the weekly Mortgage Bankers Association Purchase Application Index, which was the worst number in an otherwise upbeat report. It fell 6% for the week, while most other bits of the MBA's indices rose. Who cares? US housing is in the toilet, and a one-week pop or decline in a number is like totally irrelevant 'n shit.
Fed Open Market Operations
Nothing - at least nothing in T-backed.
Headline Indices
Insert material here
The Dow Jones Industrial Average advanced +298.98 points (2.5%) to 12270.17 points. The index high for the day was 12276.67 (about ten minutes before the close), while the low was 11644.81, set just about midday. Note the focus on financials - this rescue is about the banking cartel (the century-old Morgan-Rockefeller friendly dichotomy... also known as the London Zurich split)
Major Advancers in the Dow were
- JP MORGAN CHASE C (JPM) rose 4.86 (11.89%) to 45.72 on volume of 76.8 million units
- GEN MOTORS (GM) rose 2.05 (8.67%) to 25.7 on volume of 36.3 million units
- CITIGROUP INC (C) rose 1.9599 (8.03%) to 26.36 on volume of 189.1 million units
- INTEL CP (INTC) rose 1.35 (7.25%) to 19.98 on volume of 173.5 million units
- DU PONT E I DE NE (DD) rose 2.82 (6.63%) to 45.36 on volume of 13.7 million units
Major Decliners in the Dow were folks that actually make stuff...
- MERCK CO INC (MRK) fell -1.04 (-2.03%) to 50.31 on volume of 21.6 million units
- JOHNSON AND JOHNS (JNJ) fell -1.07 (-1.64%) to 64.2 on volume of 22.7 million units
- BOEING CO (BA) fell -1.03 (-1.33%) to 76.57 on volume of 13 million units
- ALTRIA GROUP INC (MO) fell -0.53 (-0.72%) to 72.85 on volume of 24.3 million units
- MICROSOFT (MSFT) fell -0.06 (-0.19%) to 31.93 on volume of 136.9 million units
Most Traded Dow stocks were
- CITIGROUP INC (C) rose 1.9599 (8.03) to 26.36 on volume of 189.1 million units
- INTEL CP (INTC) rose 1.35 (7.25) to 19.98 on volume of 173.5 million units
- MICROSOFT CP (MSFT) rose -0.06 (-0.19) to 31.93 on volume of 136.9 million units
- PFIZER INC (PFE) rose 0.629 (2.83) to 22.86 on volume of 99 million units
- GEN ELECTRIC CO (GE) rose 0.54 (1.59) to 34.59 on volume of 79.4 million units
The S&P500 Index advanced +28.10 points (2.14%) to 1338.60 points - slightly off its high of 1339.09 but a staggering 68 points above the low - 1270.05.
The Nasdaq Composite advanced +24.14 points (1.05%) to 2316.41 points. Again, a massive range - 2320.13 at the peak, after a rush off the low at 2202.54. The Nasdaq100 lost ground overall (down just 6.08 points (0.34%)) to 1789.53 points: it never even got into the green at its day high (1794.46), a hundred points above its low of 1693.06.
The CBOE Volatility Index lost 1.99 points (6.42%) to 29.02 points - five points below its high of the day - and the CBOE Nasdaq100 Volatility Index lost 1.61 points (4.52%) to 34.02 points.
NYSE Total Volume totalled 7.48billion units - a massive total. I think that;s wrong, so leave it with me and I will check. So no internals either for the nYSE.
Nasdaq Total Volume totalled 3.65billion units; 2.05b in the 1831 advancers, and 1.6b units in the 1205 Nasdaq decliners... new highs: 32; new lows: 469.
| Major Market Statistics | |||
| Index | Close | Gain(Loss) | % |
| Dow Jones Industrial Average | 12270.17 | +298.98 | 2.5% |
| S&P500 Index | 1338.60 | +28.10 | 2.14% |
| Nasdaq Composite | 2316.41 | +24.14 | 1.05% |
| Nasdaq100 | 1789.53 | -6.08 | -0.34% |
| CBOE Volatility Index | 29.02 | -1.99 | -6.42% |
| CBOE Nasdaq100 Volatility Index | 34.02 | -1.61 | -4.52% |
| NYSE Total Volume | 7.48bn | - | - |
| Nasdaq Total Volume | 3.65bn | - | - |
Bellwethers
The nine-stock group that makes up the Rant bellwethers advanced on average by 4.7%. The fallout occurred as follows:
- General Electric (GE) up $+0.54 (1.59%) to $34.59 on volume of 79.35 million units.
- Citigroup (C) up $+1.9599 (8.03%) to $26.36 on volume of 189.05 million units.
- Wal-Mart (WMT) up $+0.9558 (1.94%) to $50.16 on volume of 49.26 million units.
- IBM (IBM) up $+4.88 (4.82%) to $106.10 on volume of 19.45 million units.
- Intel (INTC) up $+1.35 (7.25%) to $19.98 on volume of 173.47 million units.
- Cisco Systems (CSCO) up $+0.61 (2.6%) to $24.03 on volume of 114.11 million units.
- Google (GOOG) down $35.7299 (6.11%) to $548.6201 on volume of 16.91 million units.
- Fannie Mae (FNM) up $+2.69 (8.38%) to $34.78 on volume of 30.42 million units.
- Freddie Mac (FRE) up $+3.84 (13.39%) to $32.52 on volume of 22.32 million units.
Other Indices of Interest...
The Banks Index added 2.55 (3.18%) to 80.14 points. Index volume totalled 799.7 million shares. Of the 24 index components, 24 advanced, with volume in advancers totalling 799.7 million units. Of the remaining 0 stocks in the index, every other stock fell, with total volume traded of 0 million shares.
Major movers in the same direction as the index:
- BB&T (BBT), up 3.63 (11.9%) to $34.14 on volume of 19.4 million shares
- JP Morgan Chase C (JPM), up 4.86 (11.89%) to $45.72 on volume of 76.8 million shares
- Capital One Financial (COF), up 4.39 (11.03%) to $44.20 on volume of 16.5 million shares
- M&T Bank Corp (MTB), up 8.38 (10.99%) to $84.65 on volume of 3 million shares
The other indices didn't work. They will work tomorrow.
