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The best thing that could be said about the US session is that it was 'mixed'. The most interesting feature of the day was the failure to sustain any meaningful bounce after the prior session's 3% decline.
There was an attempt to take the indices higher at the open - clearly trying to generate a short squeeze by trying to tickle stops associated just under 900 in S&P futures - but it stuttered, sputtered and went nowhere.
A twenty minute attempt to rally that only gained 25 Dow points, then a one-hour selloff that gave back 75 - those were the only two trade-able moves for the session: thereafter it was churn baby churn.
Headline Indices
The Dow Jones Industrial Average dipped 16.1 points (0.19%) to 8322.91 points. The index high for the day was 8370.90, while the low was 8286.41.
Total volume traded in the 30 components of the index was 1.27bn shares. Advancers outpaced decliners by 1.1 to one, with 15 advancers to 14 decliners. Advancing volume exceeded declining volume by 1.04bn to 233.79m shares. The main decliners (in percentage terms) were -
- Boeing (BA) -3.03 (6.5%) to $43.87 on volume of 27.26m shares;
- Home Depot (HD) -0.37 (1.6%) to $22.88 on volume of 15.12m shares;
- United Technologies (UTX) -0.74 (1.4%) to $51.84 on volume of 5.46m shares;
- Hewlett-Packard (HPQ) -0.38 (1%) to $37.36 on volume of 12.56m shares; and
- Johnson & Johnson (JNJ) -0.48 (0.9%) to $55.01 on volume of 12.27m shares.
The S&P500 index (SPX) gained 2.06 points (0.23%) to 895.1 points. Total volume traded in the 500 components of the index was 4.17bn shares.
Despite the index gain, breadth favoured the losers: decliners outpaced gainers by 1.1 to one, with 245 decliners to 226 advancers; however advancing volume exceeded declining volume by 2.62bn shares to 1.46bn. The biggest gainers (percentage-wise) were -
- CB Richard Ellis Group (CBG) +1.08 (14.1%) to $8.74 on volume of 10.18m shares;
- Federal Home Loan Mtg. (FRE) +0.06 (9.2%) to $0.71 on volume of 3.9m shares;
- Jabil Circuit (JBL) +0.51 (7.7%) to $7.12 on volume of 6.72m shares;
- AK Steel Holding Corp. (AKS) +1.18 (7.2%) to $17.68 on volume of 11.21m shares; and
- Unisys Corp. (UIS) +0.08 (6.1%) to $1.39 on volume of 4.97m shares.
The Nasdaq Composite lost 1.27 points (0.07%) to 1764.92 points. while the Nasdaq100 slid 2.15 points (0.15%) to 1424.46 points.
Total volume traded in the 100 components of the NDX was 801.18m shares. Advancers outpaced decliners by 1.2 to one, with 50 advancers to 43 decliners. Advancing volume exceeded declining volume by 486.68m to 265.8m shares. The main decliners (in percentage terms) were -
- UAL (UAUA) -0.37 (10.4%) to $3.2 on volume of 18.87m shares;
- Liberty Media (LINTA) -0.24 (4.8%) to $4.8 on volume of 2.84m shares;
- Expedia (EXPE) -0.41 (2.7%) to $15.06 on volume of 4.72m shares;
- Bed Bath & Beyond (BBBY) -0.71 (2.5%) to $27.74 on volume of 6.28m shares; and
- Apple (AAPL) -3.36 (2.4%) to $134.01 on volume of 25.06m shares.
Volatility
The CBOE Volatility Index dropped 0.59 points (1.89%) to 30.58 points. and the CBOE Nasdaq100 Volatility Index slid 0.72 points (2.29%) to 30.69 points..
Breadth and Internals
A total of 3822 issues traded today on the NYSE; 1799 stocks posted gains for the day, and there were 1907 losers, which accounted for a total declining volume of 2.38bn shares. 9 stocks made new 1-year highs on the NYSE, while 45 shares plumbed new 52-week depths.
On the Nasdaq 2831 tickers traded today; total Nasdaq volume was 2.13bn shares. A total of 1095 stocks posted gains for the day, with aggregate volume of 1.05bn shares changing hands in the day's winners. The red zone of the Nasdaq exchange comprised 1602 losers, and total declining volume was 1bn shares. 13 Nasdaq-listed stocks hit new 52-week highs, while 25 shares dipped to new 1-year lows.
| Major Market Statistics | |||
| Index | Close | Gain(Loss) | % |
| Dow Jones Industrial Average | 8322.91 | -16.10 | -0.19% |
| S&P500 Index | 895.10 | +2.06 | 0.23% |
| Nasdaq Composite | 1764.92 | -1.27 | -0.07% |
| Nasdaq100 | 1424.46 | -2.15 | -0.15% |
| CBOE Volatility Index | 30.58 | -0.59 | -1.89% |
| CBOE Nasdaq100 Volatility Index | 30.69 | -0.72 | -2.29% |
Dow Darlings
- Bank Of America (BAC) +0.29 (2.4%) to $12.23 on volume of 356.9m units
- JPMorganChase (JPM) +0.70 (2.1%) to $33.57 on volume of 58.1m units
- AT&T (T) +0.51 (2.1%) to $24.66 on volume of 40m units
- Caterpillar (CAT) +0.64 (2%) to $33.00 on volume of 10.9m units
- Verizon (VZ) +0.50 (1.7%) to $30.52 on volume of 15.7m units
Dow Duds:
- Boeing (BA) -3.03 (6.5%) to $43.87 on volume of 27.3m units
- Home Depot (HD) -0.37 (1.6%) to $22.88 on volume of 15.1m units
- United Technologies (UTX) -0.74 (1.4%) to $51.84 on volume of 5.5m units
- Hewlett-Packard (HPQ) -0.38 (1%) to $37.36 on volume of 12.6m units
- Johnson & Johnson (JNJ) -0.48 (0.9%) to $55.01 on volume of 12.3m units
Most Traded Dow stocks:
- Bank Of America (BAC) +0.29 (2.4%) to $12.23 on volume of 356.9m units
- General Electric (GE) +0.08 (0.7%) to $11.60 on volume of 86.2m units
- Intel (INTC) +0.13 (0.8%) to $15.81 on volume of 69.8m units
- JPMorganChase (JPM) +0.70 (2.1%) to $33.57 on volume of 58.1m units
- Microsoft (MSFT) +0.06 (0.3%) to $23.34 on volume of 56m units
Precious Metals
The Gold Bugs index (XAU) added 5.32 points (4.06%) to 136.38 points. Total volume traded in the 16 components of the index was 96.26m shares. Not a single stock declined withinin the index: 16 of the 16 index components rose, with total upside volume of 96.26mshares. The biggest gainers (percentage-wise) were -
- GoldCorp (GG) +1.61 (4.9%) to $34.19 on volume of 8.18m shares;
- Agnico Eagle Mines (AEM) +2.27 (4.6%) to $51.14 on volume of 2.89m shares;
- RandGold Resources (GOLD) +2.79 (4.5%) to $64.44 on volume of 0.95m shares;
- Kinroos Gold (KGC) +0.74 (4.4%) to $17.37 on volume of 5.94m shares; and
- Freeport McMoran (FCX) +2 (4.4%) to $47.18 on volume of 23.17m shares.
Energy Complex
The Oil Services index (OSX) rose 2.16 points (1.4%) to 156.55 points. Total volume traded in the 15 components of the index was 98.55m shares. Advancers outpaced decliners by 2.8 to one, with 11 advancers to 4 decliners. Advancing volume exceeded declining volume by 65.42m to 33.13m shares. The biggest gainers (percentage-wise) were -
- Oceaneering International (OII) +2.37 (5.6%) to $44.87 on volume of 1.23m shares;
- BJ Services (BJS) +0.3 (2.4%) to $12.92 on volume of 7.08m shares;
- Halliburton (HAL) +0.47 (2.3%) to $20.57 on volume of 14.99m shares;
- Schlumberger (SLB) +0.98 (1.9%) to $53.3 on volume of 9.08m shares; and
- Baker Hughes (BHI) +0.66 (1.8%) to $36.4 on volume of 4.5m shares.
Bellwethers
The nine-stock group that makes up the Rant bellwethers advanced on average by 1.6%. The fallout occurred as follows:
- General Electric (GE) +0.08 (0.69%) to $11.60 on volume of 86.17m units.
- Citigroup (C) +0.01 (0.33%) to $3.01 on volume of 241.3m units.
- Wal-Mart (WMT) -0.24 (0.49%) to $48.35 on volume of 16.19m units.
- IBM (IBM) -0.08 (0.08%) to $104.44 on volume of 5.12m units.
- Intel (INTC) +0.13 (0.83%) to $15.81 on volume of 69.8m units.
- Cisco Systems (CSCO) +0.16 (0.87%) to $18.57 on volume of 41.74m units.
- Google (GOOG) -1.67 (0.41%) to $405.68 on volume of 2.86m units.
- Fannie Mae (FNM) +0.02 (3.23%) to $0.64 on volume of 9.08m units.
- Freddie Mac (FRE) +0.06 (9.23%) to $0.71 on volume of 3.9m units.
Other Indices of Interest...
The Banks index (BKX) rose 0.34 points (0.98%) to 35.18 points. Total volume traded in the 24 components of the index was 977.34m shares. Advancers outpaced decliners by 2 to one, with 14 advancers to 7 decliners. Advancing volume exceeded declining volume by 848.69m to 128.65m shares. The biggest gainers (percentage-wise) were -
- Capital One Financial (COF) +0.71 (3.5%) to $21.16 on volume of 9.77m shares;
- New M&I Corporation (MI) +0.15 (3.2%) to $4.89 on volume of 9.05m shares;
- Suntrust Banks (STI) +0.46 (3.1%) to $15.45 on volume of 11.11m shares;
- Bank Of America (BAC) +0.29 (2.4%) to $12.23 on volume of 356.82m shares; and
- JPMorganChase (JPM) +0.7 (2.1%) to $33.57 on volume of 58.02m shares.
- Boeing (BA) -3.03 (6.5%) to $43.87 on volume of 27.26m shares;
- Northrop Grummanl (NOC) -1.38 (3%) to $45.26 on volume of 3.01m shares;
- General Dynamics (GD) -1.46 (2.5%) to $55.99 on volume of 2.21m shares;
- Gencorp (GY) -0.05 (2.5%) to $1.96 on volume of 0.3m shares; and
- Esterline Tech (ESL) -0.57 (2.1%) to $26.13 on volume of 0.23m shares.
