8 August 2012
Market Summary
Market Internals
As i've said.. it's totally flat... as flat as the Changi Airport... Volumes were miserable...
Leaders and laggards
Surprisingly... Staples were the ones moving... the largest gainers of all... but 0.61%...
Wrong leadership?
Wrong leadership?
Technical Updates
As you can see... it's forming stalled patterns... waiting for retracement.. However, both SPX and DJI had a very long shadow, which indicate the strength to hold on to the support.But... it's the 5th candle!
Commentaries
| Stock Market Update |
| 16:15 ET Dow +7.04 at 13180.75, Nasdaq -4.61 at 3011.25, S&P +0.87 at 1402.22 :[BRIEFING.COM] Equities began today's session slightly lower before climbing back to break-even. The morning gains coincided with advances in European indices ahead of their close. After marking session highs near 1,404, the S&P 500 fell back to its unchanged level and stayed there for the remainder of the day. Telecommunications sector outperformed the broader market as Cincinnati Bell (CBB 3.94, +0.20) advanced 5.4% following an earnings beat. The company also announced the IPO of its CyrusOne unit which operates Cincinnati Bell's data center business. Today's breakout lifted the shares back to levels last seen in late March of this year. Consumer staples were lifted by Dean Foods (DF 17.46, +5.04) which announced the planned IPO of its organic food division, The WhiteWave Foods. Shares of the company soared by 40.6%, and today's buying brought the stock near its early July levels. Bloomin' Brands (BLMN 12.41, +1.41), the parent company of Outback Steakhouse, began trading publicly this morning. After opening at $11.64 shares of the company surged by 12.8%. Priceline.com (PCLN 562.32, -117.48) plunged 17.3% after missing on revenues. The company issued lower third quarter guidance, blaming the cloudy outlook on the persisting European debt crisis. Today's selling pressure dropped the stock down to levels not seen since mid-February. Standard Chartered (SCBFF 21.10, +2.15) gained 11.4% as the investigation into the bank's illicit dealings with Iran continues. The stock has rebounded partially after falling 14.2% yesterday. McDonald's (MCD 87.53, -1.48) reported flat same-store sales during the month of July. The report put a damper on third quarter earnings expectations for the fast food giant which ended lower by 1.7%. Research in Motion (RIMM 7.62, +0.31) jumped to $8.25 following rumors of a potential partnership with Samsung. Samsung later denied having interest in a partnership, but shares of Research in Motion held on to some of their gains and ended higher by 4.2%. Crude oil popped to a session high of $94.72 per barrel following larger-than-anticipated draw of 3.7 million barrels when a draw of 1.5 million was expected. The move was short-lived, however, and the energy component trended lower for the remainder of trade. Crude fell back into negative territory and slid below the $93.00 level moments before it settled with a 0.3% loss at $93.39. Gold came off its session low of $1606.20 per ounce and broke into positive territory in mid-morning action. It brushed a session high of $1619.50 and spent the rest of the day chopping around just below that level. The yellow metal closed 0.2% higher at $1615.90 despite a stronger dollar. Silver also came off its session low of $27.70 per ounce that was set moments after trade opened. However, the white metal fell back into the red after it brushed its session high of $28.21 and settled 0.1% lower at $28.07. Retailer Kohl's (KSS 52.06, +0.23) and fast food chain Wendy's (WEN 4.54, -0.01) are scheduled to report quarterly results before tomorrow's open. A few economic data points will be reported tomorrow. Initial and continuing claims and the trade balance will be reported at 8:30 AM ET. In addition, wholesale inventories will be released at 10 AM ET. ..NYSE Adv/Dec 1528/1449. ..NASDAQ Adv/Dec 1089/1388. |
After Hours
17:47 ET MM +9.9%, SLXP +9.4%, WIFI -13.3%, MNST -10.0% following earnings/guidance :
Equities began today's session slightly lower before climbing back to break-even. The morning gains coincided with advances in European indices ahead of their close. After marking session highs near 1,404, the S&P 500 fell back to its unchanged level and stayed there for the remainder of the day.
Today after the close the following companies reported earnings: MG, SYMM, MDRX, PRXL, AUY, STRI, ATO, CLR, EDMC, EXXI, GHDX, GMXR, HNSN, RNWK, SKH, ALJ, CXW, GXP, PKY, SPWR, TEG, WIFI, CPE, DNB, SLXP, AVNR, BEAT, DIOD, HIMX, KGC, MRX, NQ, RST, BIOS, BPZ, CJES, CPNO, CTL, EGLE, ENV, FLT, FTK, GSS, HOGS, IL, IPAR, LXU, MNST, NNI, NWSA, OILT, PANL, PODD, PRSC, SCLN, SF, SGEN, SGI, STAN, TNGO, XOXO, DDS, MBI, STRL, MM, ZGNX, JACK, ENS, MIDD, NOA, UHAL
Futures are lower after hours: S&P 500 futures are -1.15 from fair value of 1398.45 and Nasdaq100 futures are -3.71 from fair value of 2709.21.
Tomorrow morning before the open two economic reports are scheduled to be released: 1) Initial Claims (Consensus 375k) and Continuing Claims (Consensus 3290k), and 2) Trade Balance (Consensus -47.5B).
Tomorrow before the open look for the following companies to report: EAT, OSIS, AIT, BGG, SRI, VPHM, CTB, ATK, CCOI, CNQ, FUN, GOLD, ITG, JRCC, MFC, NJR, OMG, RDEN, RGLD, USPH, ZEUS, KOP, MINI, NOG, BKR, BR, MHR, PGNX, AXAS, CAAS, FXCM, KRO, MKL, SSRI, THI, WEN, ACCO, ADY, AMCX, BDC, HNR, HWCC, KSS, LIWA, MPW, RDNT, WIN, SNSS, RRGB, AAP, TK, TNK, TSEM, TUC, CAE, NVO
Commodities
Only Sugar, coffee are moving higher... good lucks to Starbucks...
Treasuries
Not much data today.... I doubt today will be a up day. Considering such a strong fight back at lower volumes? That's just say that the market is sidelined, waiting for more action.
Therefore... i'm calling it down AGAIN.
Market Call: 9 Aug
Date: DOWN
Accuracy: 4/7
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