ETF relative strength:
Sector: Jr Gold Miners-GDXJ +2.9%, Gold Miners-GDX+2.3%, Silver-SLV +2.2%, Gold-GLD +1.4%, Home Builders-XHB +1.3%, Copper-JJC +1.2%, Telecos-IYZ +1.2%.
Regional: South Africa-EZA +2.5%, Israel-EIS +2.2%, China-FXI +1.5%, Australia-EWA +1.5%.
ETF relative weakness:
Sector: Volatility-VXX -2.3%, Oil Services-OIH -2.0%, Natural Gas-UNG -1.3%, Banks-KBE -1.1%.
Regional: Spain-EWP -3.5%, Italy-EWI -2.8%,… Continue
Added by ken flagg on May 24, 2010 at 1:50pm —
NDX 10 Best % Performers:
GOOG, AAPL, VRTX, PCLN, TEVA, SNDK, BIDU, DELL, FLEX, LIFE
NDX 10 Worst % Performers:
MRVL, LOGI, ERTS, FSLR, FWLT, WCRX, XLNX, NVDA, LINTA, KLAC
NASDAQ A/D +330
NASDAQ TRIN +0.80
Added by ken flagg on May 24, 2010 at 1:48pm —
Goldman also upgraded Citigroup (C) to Buy from Neutral; and cut Wells Fargo (WFC), Arch Capital (ACGL), Validus (VR) and Comerica (CMA) to… Continue
Added by ken flagg on May 24, 2010 at 8:17am —
Equity futures are trading sharply lower this morning (S&P futures -13 and DJ futures -100), giving up the late-Friday short-covering rally as money again flows away from risky assets. The focus remains on Europe , whose markets fell overnight and are currently trading just off their lows. The major European averages are down 0.7-1.5% (FTSE -0.7%, CAC -0.8%, DAX -1.5%), while Spain (-2.2%) and Italy (-2.9%) are showing steeper losses. Financials… Continue
Added by ken flagg on May 24, 2010 at 7:51am —
May 24 (Bloomberg) -- Corporate bond sales are poised for their worst month in a decade, while relative yields are rising at the fastest pace since Lehman Brothers Holdings Inc.’s collapse as the response by lawmakers to Europe ’s sovereign debt crisis fails to inspire investor confidence.
Companies have issued $47 billion of debt in May, down from $183 billion in April and the least since December 1999, data compiled by Bloomberg show. The… Continue
Added by ken flagg on May 23, 2010 at 11:20pm —
$27 bln 3-month and $26 bln 6-month Treasury Bills Auctions
XRX, IT, CATM, KELYA at Bank of America Merrill Lynch Services Conference
HRS Analyst Meeting
V at UBS Electronic Payments Summit
Bernanke at BoJ Conference
DNDN, BAX, CELG, ISRG at Citi Global Healthcare Conference
YHOO Investor Day
$40 bln 5-yr Treasury Notes Auction
Added by ken flagg on May 21, 2010 at 10:44pm —
Due to broad market weakness, which came on sovereign debt concerns, an increase in jobless claims and a negative leading indicators number, as some of the top drivers, most commodities took fell notable. Specifically, the energy and precious metals markets fell sharply, excluding copper, while the agriculture market was mixed. These losses even occurred despite a n 0.8% decline in the US Dollar Index this week.
Looking more closely at energy,… Continue
Added by ken flagg on May 21, 2010 at 10:41pm —
Pressure in the first few minutes of trade dropped the stock market to a fresh three-month low, but a rally by financials helped swing the broader market to higher ground and put an end to its recent streak of losses... Global participants reacted to the stock market's 3% drop in the prior session by trimming risk overnight. That caused steep slides among many foreign markets and sent the S&P 500 down another 1.5% in the first few minutes of… Continue
Added by ken flagg on May 21, 2010 at 10:08pm —
Biggest point gainers: CME (315.8 +12.8), MA (214.78 +9.28), PCLN (190.13 +9.13), BH (295 +8.67), ISRG (319.75 +7.85), DECK (132.02 +7.34), GS (142.6 +6.5), CSWC (92.73 +6.33), WBK (94.51 +6.25), MKL (341.99 +5.87), CEO (157.5 +5.68), WLT (71.78 +5.68), AAPL (243.44 +5.68), PCP (118.28 +5.41), WPO (482.93 +5.28), ALX (300.26 +5.26), FSLR (114.65 +5.03), ICE (114.39 +4.87), WHR (97.56 +4.41), BLK (164.5 +4.4), NDSN (67.01 +4.18), EOG (100.42 +4.13), ESS… Continue
Added by ken flagg on May 21, 2010 at 2:04pm —
Financials are rallying following news that the Senate passed the Wall Street Reform bill. There is still the final step of merging the House and Senate bills before reform can be put into law, but for the short term headline concerns in the U.S. have passed.
The group has been under selling pressure since late March as sovereign concerns and regulatory reform weighed on the sector. Coupled with a strong rally in the two months prior, and… Continue
Added by ken flagg on May 21, 2010 at 1:42pm —
uropean markets are now closed; stock markets across Europe performed as follows:
* UK's FTSE: -1.6%
* Germany's DAX: -2.3%
* France's CAC: -2.3%
* Spain's IBEX: -0.9%
* Portugal's PSI: -2.5%
Added by ken flagg on May 20, 2010 at 9:54pm —
After deteriorating further off the open, the market has found a bit of stabilization and is now hovering around the lows of the day. The S&P 500 is now down -2.2% on the day (after being down as much as 3%), at its worst levels since the 5/6 "flash" crash (DJ is -250 pts, SPX -30, Nasdaq Comp -69). The S&P 500 has now corrected ~11% off of the April highs, and is down ~2.6% YTD. Today's weakness mirrors further losses in Europe (FTSE -2.2%,… Continue
Added by ken flagg on May 20, 2010 at 9:40pm —
Biggest point gainers: AAP (49.44 +3.35), MA (205.35 +2.9), CTRN (32.81 +2.32), PLCE (43.59 +2.09), V (74.93 +1.96), DLTR (61.5 +1.83), WSM (29.82 +1.38), ROST (52.77 +1.04).
Biggest point losers: GOOG (478.85 -15.59), WPO (480.99 -14.6), ISRG (314.5 -14.27), BH -14 (293 -14), WTM (318 -9.14), WBK (88.36 -8.48), AAPL (240.17 -8.17), WSC… Continue
Added by ken flagg on May 20, 2010 at 1:28pm —
rally by the euro against the dollar did little to motivate buyers, but
stocks still slashed their losses after the S&P 500 dropped more than 1% to
breach its 200-day moving average... Overnight pressure against the euro
the currency down to a… Continue
Added by ken flagg on May 19, 2010 at 11:03pm —
The GDX gapped lower off the open with steady losses extended in recent action near the 50% retracement of the March to May advance at 48.67 (session low 48.64). The next level of note below if follow through develops is at its 50-day ema at 47.72 -- AEM, AU, ABX, FCX, GFI, GG, HMY, KGC, NEM, BVN, AUY, EGO.
Added by ken flagg on May 19, 2010 at 1:51pm —
The yield curve (2-10-yr spread) has seen a tremendous move over the past several months as investors have reduced their appetite for risk and sought safety in longer-term government debt. After reaching an all-time high of near 294 in mid-February, as long-term yields rose while short-term yields remained extremely low, the curve has flattened to current levels near 260. It could be headed lower towards 250 as it has just breached its short-term… Continue
Added by ken flagg on May 19, 2010 at 1:47pm —
Collective weakness among commodities had the CRB Commodity Index down as much as 0.8% earlier, but its loss has been trimmed to 0.3% in recent trade. Most of the move is owed to a bounce by crude oil prices... Oil prices had retreated to fresh multimonth lows below $68 per barrel earlier this morning, but prices have since recovered and even poked into positive territory in the moments that followed news that weekly oil inventories had a build of… Continue
Added by ken flagg on May 19, 2010 at 1:46pm —
Under heavy pressure this morning with it recently attempting to stabilize near the 38% retracement of the March to May rally at 116.12 (session low 116.08). A sustained push back through 116.80/116.90 would be a positive intraday step to improve the price action.
Added by ken flagg on May 19, 2010 at 1:44pm —
Added by ken flagg on May 19, 2010 at 1:29pm —
Better-than-expected earnings and upside guidance from Hewlett-Packard (HPQ) and Deere (DE) have been unable to keep the prior session’s slide from extending into premarket trade. Weakness has been perpetuated by stiff selling overseas, where Asia’s major market averages already closed with varied losses and Europe ’s major bourses currently contend with losses of at least 2%. The euro has stabilized after slipping to a fresh four-year low against the… Continue
Added by ken flagg on May 19, 2010 at 8:14am —