Market Wrap
Dollar gaps up, stocks gap down. Dollar comes down off highs, stocks come up off lows. Rinse and repeat — just another ‘dollar day’ here at the ol’ ballpark.
The Dow held up the best, but the Russell still got plunked — large-caps outperforming small, remember?
|
|
Internals were much worse than the indices would indicate, with volume near yesterday’s levels — a bit lighter on the NYSE and a bit heavier on the Nasdaq. Advances/declines were 1 to 4 on the NYSE and 4 to 15 on the Nasdaq, with up/down volume 1 to 8 on the NYSE and 1 to 7 on the Nasdaq. New highs/lows were 48/9 on the NYSE and 34/29 on the Nasdaq.
Leaders — Software (+1.26%), Gold/Silver (+0.63%), Hospitals (-0.19%), Drugs (-0.48%), Health Care (-0.53%), Insurance (-0.57%), Health Care Products (-0.78%), Retailers (-0.90%)
Laggards — Oil Services (-3.49%), Semis (-3.43%), REITs (-2.51%), Broker Dealers (-2.50%), Natural Gas (-2.47%), Transport (-2.26%), Network (-2.24%), Steel (-2.11%)
Treasury Yields — 6-Month: .12%, 2-Year: .71%, 5-Year: 2.16%, 10-Year: 3.35%, 30-Year: 4.29%
Energy Prices — Crude oil: $78.27/barrel, Gasoline: $1.9705/gallon, Natural Gas: $4.343/mmBTU
US Dollar Index — 75.290
Precious Metals — Gold: $1144.60/ounce, Silver: $18.55/ounce, Platinum: $1442.00/ounce
BMB Note:
Stocks are fighting to move higher, but they’re fighting against a dollar that’s trying to put in a bottom. Who/what the ‘winner’ will be is anybody’s guess. Small-caps still looking shaky.
That rush into short Treasuries is still a mystery, but it doesn’t look ‘normal’, and has me wondering what’s up.
Options expiration tomorrow.
Comments »
No comments yet.
RSS feed for comments on this post.
Leave a comment
Line and paragraph breaks automatic, e-mail address never displayed, HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>