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No prefatory waffle today - straight on to the numbers. Considering it was boxing Day, with few people around, I am genuinely surprised that it was not possible to goose the indices a bit more (although a 7-odd point gain in the S&P is nothing to sneeze about).
Headline Indices
The Dow Jones Industrial Average index (DJI) gained 47.07 points (0.56%) to 8515.55 points. The index high for the day was 8532.59, while the low was 8461.78.
Total volume traded in the 30 components of the index was 316.34m shares. Advancers outpaced decliners by 1.4 to one, with 17 advancers to 12 decliners; however declining volume was greater than advancing volume by 186.2m to 125.9m shares. The biggest gainers (percentage-wise) were -
- General Motors (GM) +0.41 (12.6%) to $3.66 on volume of 27.13m shares;
- Alcoa (AA) +0.39 (4.2%) to $9.78 on volume of 7.64m shares;
- Caterpillar (CAT) +0.81 (1.9%) to $42.72 on volume of 2.85m shares;
- Exxon-Mobil (XOM) +1.41 (1.9%) to $77.19 on volume of 17.01m shares; and
- Coca-Cola (KO) +0.48 (1.1%) to $44.58 on volume of 4.31m shares.
The S&P500 index (SPX) gained 7.38 points (0.85%) to 872.8 points. Total volume traded in the 500 components of the index was 1.3bn shares. Advancers outpaced decliners by 2.2 to one, with 327 advancers to 148 decliners. Advancing volume exceeded declining volume by 766.57m to 449.68m shares. The biggest gainers (percentage-wise) were -
- Jones Apparel Group (JNY) +1.73 (44.5%) to $5.62 on volume of 5.53m shares;
- Federal Home Loan Mtg. (FRE) +0.16 (27.6%) to $0.74 on volume of 19.33m shares;
- Fannie Mae (FNM) +0.16 (27.1%) to $0.75 on volume of 28.59m shares;
- Liz ClaiborneInc. (LIZ) +0.52 (26%) to $2.52 on volume of 1.46m shares; and
- Genl Growth Properties (GGP) +0.19 (17.3%) to $1.29 on volume of 6.27m shares.
The Nasdaq Composite gained +5.34 points (0.35%) to 1530.24 points. while the Nasdaq100 advanced +1.14 points (0.1%) to 1185.44 points..
Total volume traded in the 100 components of the index was 236.21m shares. Advancers outpaced decliners by 1.1 to one, with 49 advancers to 43 decliners; however declining volume was greater than advancing volume by 119.23m to 104.63m shares. The biggest gainers (percentage-wise) were -
- Sirius Satellite Radio (SIRI) +0.0094 (8%) to $0.1269 on volume of 16.64m shares;
- Virgin Media (VMED) +0.28 (6.2%) to $4.77 on volume of 1m shares;
- Liberty Global (LBTYA) +0.73 (5%) to $15.27 on volume of 1.97m shares;
- Foster Wheeler (FWLT) +0.68 (3%) to $23.44 on volume of 0.92m shares; and
- Steel Dynamics (STLD) +0.21 (2%) to $10.8 on volume of 1.55m shares.
Volatility
The CBOE Volatility Index fell 0.83 points (1.88%) to 43.38 points. and the CBOE Nasdaq100 Volatility Index dropped 0.26 points (0.6%) to 43.15 points..
Breadth and Internals
A total of 3820 issues traded today on the NYSE; 2740 stocks posted gains for the day, and there were 979 losers. 13 stocks made new 1-year highs on the NYSE, while 81 shares plumbed new 52-week depths.
On the Nasdaq 2934 tickers traded today; total Nasdaq volume was 0.58bn shares. A total of 1702 stocks posted gains for the day, with aggregate volume of 0.31bn shares changing hands in the day's winners. The red zone of the Nasdaq exchange comprised 1101 losers, and total declining volume was 0.25bn shares. 4 Nasdaq-listed stocks hit new 52-week highs, while 86 shares dipped to new 1-year lows.
| Major Market Statistics | |||
| Index | Close | Gain(Loss) | % |
| Dow Jones Industrial Average | 8515.55 | +47.07 | 0.56% |
| S&P500 Index | 872.80 | +7.38 | 0.85% |
| Nasdaq Composite | 1530.24 | +5.34 | 0.35% |
| Nasdaq100 | 1185.44 | +1.14 | 0.1% |
| CBOE Volatility Index | 43.38 | -0.83 | -1.88% |
| CBOE Nasdaq100 Volatility Index | 43.15 | -0.26 | -0.6% |
Dow Darlings
- General Motors (GM) +0.41 (12.6%) to $3.66 on volume of 27.1m units
- Alcoa (AA) +0.39 (4.2%) to $9.78 on volume of 7.6m units
- Caterpillar (CAT) +0.81 (1.9%) to $42.72 on volume of 2.9m units
- Exxon-Mobil (XOM) +1.41 (1.9%) to $77.19 on volume of 17m units
- Coca-Cola (KO) +0.48 (1.1%) to $44.58 on volume of 4.3m units
Dow Duds:
- Bank Of America (BAC) -0.17 (1.3%) to $13.36 on volume of 41.1m units
- Merck (MRK) -0.27 (0.9%) to $29 on volume of 3.9m units
- General Electric (GE) -0.14 (0.9%) to $15.97 on volume of 29.6m units
- Citigroup (C) -0.05 (0.7%) to $6.73 on volume of 47.9m units
- Home Depot (HD) -0.17 (0.7%) to $23.56 on volume of 4.5m units
Most Traded Dow stocks:
- Citigroup (C) --0.05 (0.7%) to $6.73 on volume of 47.9m units
- Bank Of America (BAC) --0.17 (1.3%) to $13.36 on volume of 41.1m units
- General Electric (GE) --0.14 (0.9%) to $15.97 on volume of 29.6m units
- General Motors (GM) +0.41 (12.6%) to $3.66 on volume of 27.1m units
- Microsoft (MSFT) --0.04 (0.2%) to $19.13 on volume of 18m units
Precious Metals
Precious metals futures advanced across the board - we are looking down the barrel of a $100 per ounce gain since the "long gold on a 2-day clsoe above $750" a couple of weeks ago.
| Precious Metals Futures | |||
| Index | Close | Gain(Loss) | % |
| Gold | 870.5 | 22.5 | 2.65 |
| Silver | 10.745 | 0.395 | 3.82 |
| Palladium | 177 | 2.1 | 1.2 |
| Platinum | 894.6 | 35.2 | 4.1 |
The Gold Bugs index (XAU) rose 5.35 points (4.73%) to 118.38 points. Total volume traded in the 16 components of the index was 49.54m shares. Not a single stock declined withinin the index: 16 of the 16 index components rose. The biggest gainers (percentage-wise) were -
- Silver Stand Resources (SSRI) +1.25 (9.1%) to $14.96 on volume of 0.37m shares;
- Silver Wheaton (SLW) +0.49 (8.7%) to $6.13 on volume of 5.17m shares;
- Harmony Gold (HMY) +0.72 (7.4%) to $10.42 on volume of 1.08m shares;
- AngloGold Ashanti (AU) +1.76 (7%) to $26.78 on volume of 1.15m shares; and
- Pan-American Silver (PAAS) +1.02 (6.8%) to $15.97 on volume of 0.59m shares.
Energy Complex
Energy futures are being very heavily manipulated at present. I still think that every oversold is a long entry despite having been stopped out TWICE in oil in recent weeks...
| Energy Futures | |||
| Commodity | Close | Gain(Loss) | % |
| Crude Oil | 37.71 | 2.36 | 6.68 |
| Heating Oil | 1.2747 | 0.0536 | 4.39 |
| Natural Gas | 5.873 | -0.037 | -0.63 |
| Gasoline RBOB | 0.8435 | 0.0508 | 6.41 |
| Ethanol | 1.662 | 0.049 | 3.04 |
The Oil Services index (OSX) rose 3.3 points (2.98%) to 114.14 points. Total volume traded in the 15 components of the index was 36.87m shares. Not a single stock declined withinin the index: 15 of the 15 index components rose, with total upside volume of 36.87mshares. The biggest gainers (percentage-wise) were -
- Transocean Inc (RIG) +1.94 (4.6%) to $44.18 on volume of 5.36m shares;
- Nabors Industries (NBR) +0.47 (4.5%) to $10.85 on volume of 2.23m shares;
- Noble Corp (NE) +0.82 (4%) to $21.47 on volume of 2.39m shares;
- Oceaneering International (OII) +1 (3.8%) to $27.61 on volume of 0.59m shares; and
- Rowan Co (RDC) +0.51 (3.5%) to $15.21 on volume of 0.68m shares.
Currency Futures
Currency futures continue to do the right thing - the $A is now over 10c above our entry level of 0.6117, and Euro is doing even better (recall we entered at 1.27-ish)...
| Currency Futures | |||
| Index | Close | Gain(Loss) | % |
| U.S. Dollar Index | 81.77 | -0.205 | -0.25 |
| Euro FX | 1.4041 | 0.0097 | 0.7 |
| Swiss Franc | 0.9386 | 0.0097 | 1.04 |
| Australian Dollar | 0.7198 | 0.0421 | 6.21 |
| Canadian Dollar | 0.8177 | -0.0092 | -1.11 |
| Japanese Yen | 1.1057 | 0.0015 | 0.14 |
| New Zealand Dollar | 0.5728 | 0.0043 | 0.76 |
Bellwethers
The nine-stock group that makes up the Rant bellwethers advanced on average by 5.8%. The fallout occurred as follows:
- General Electric (GE) -0.14 (0.87%) to $15.97 on volume of 29.64m units.
- Citigroup (C) -0.05 (0.74%) to $6.73 on volume of 47.93m units.
- Wal-Mart (WMT) -0.09 (0.16%) to $55.35 on volume of 6.37m units.
- IBM (IBM) +0.81 (1.01%) to $81.33 on volume of 3.1m units.
- Intel (INTC) -0.05 (0.35%) to $14.18 on volume of 14.78m units.
- Cisco Systems (CSCO) -0.08 (0.49%) to $16.27 on volume of 15.13m units.
- Google (GOOG) -2.59 (0.85%) to $300.36 on volume of 1.96m units.
- Fannie Mae (FNM) +0.16 (27.12%) to $0.75 on volume of 28.65m units.
- Freddie Mac (FRE) +0.16 (27.59%) to $0.74 on volume of 19.33m units.
Other Indices of Interest...
The Banks index (BKX) lost -0.14 points (0.33%) to 41.95 points. Total volume traded in the 24 components of the index was 169.28m shares. Decliners outpaced gainers by 1.9 to one, with 15 decliners to 8 advancers. Declining volume was greater than advancing volume by 137.53m to 31.75m shares. The main decliners (in percentage terms) were -
- State Street (STT) -1.19 (3.2%) to $35.84 on volume of 2.24m shares;
- Huntington Bancshares (HBAN) -0.21 (2.9%) to $7.02 on volume of 1.85m shares;
- Keycorp (KEY) -0.22 (2.8%) to $7.7 on volume of 1.95m shares;
- Bank Of America (BAC) -0.17 (1.3%) to $13.36 on volume of 41.07m shares; and
- M&T Bank (MTB) -0.54 (1%) to $55.39 on volume of 0.51m shares.
The Semiconductor index (SOX) fell -0.89 points (0.44%) to 202 points. Total volume traded in the 18 components of the index was 64.39m shares. Decliners outpaced gainers by 2.2 to one, with 11 decliners to 5 advancers. Declining volume was greater than advancing volume by 40.62m to 16.89m shares. The main decliners (in percentage terms) were -
- Xilinx (XLNX) -0.3 (1.8%) to $16.29 on volume of 2.42m shares;
- Marvell Technology (MRVL) -0.11 (1.7%) to $6.45 on volume of 4.73m shares;
- Applied Materials (AMAT) -0.14 (1.4%) to $9.69 on volume of 5.95m shares;
- Broadcom (BRCM) -0.17 (1%) to $16.41 on volume of 3.84m shares; and
- Novellus Systems (NVLS) -0.12 (1%) to $11.85 on volume of 0.33m shares.
The ChildKiller ("Defence") index (DFX) gained 1.65 points (0.66%) to 252.73 points. Total volume traded in the 17 components of the index was 39.23m shares. Advancers outpaced decliners by 2.2 to one, with 11 advancers to 5 decliners; however declining volume was greater than advancing volume by 32.59m to 6.64m shares. The biggest gainers (percentage-wise) were -
- Lockheed Martin (LMT) +1.89 (2.4%) to $81.11 on volume of 1.02m shares;
- Esterline Tech (ESL) +0.71 (2%) to $35.93 on volume of 0.06m shares;
- Rockwell Collins (COL) +0.68 (1.9%) to $36.74 on volume of 0.32m shares;
- Teledyne Tech (TDY) +0.7 (1.7%) to $40.72 on volume of 0.15m shares; and
- General Dynamics (GD) +0.65 (1.2%) to $55.91 on volume of 0.71m shares.
