6 May 2013 AMC

6 May 2013 AMC

Market Summary 

Market Internals

Leaders and Laggards

Technical Updates

Briefing's Commentaries 

Stock Market Update 16:10 ET Dow -5.07 at 14968.89, Nasdaq +14.34 at 3392.97, S&P +3.08 at 1617.5 :[BRIEFING.COM] The major averages ended on a mixed note as the S&P 500 rose 0.2% while the Dow Jones Industrial Average shed five points.  With no economic news of note and two major foreign markets closed (Japan and the United Kingdom), investors reacted to quarterly earnings.  The now-familiar pattern of anemic top-line growth remained in effect as quarterly results from Sysco (SYY 34.33, -0.33) and Tyson Foods (TSN 24.10, -0.83) missed their marks. The results weighed on the third-best performing sector of the year as the SPDR Consumer Staples Select Sector ETF (XLP 40.93, -0.30) ended lower by 0.7%.  Likewise, other defensive sectors also finished in the red with the utilities space as the weakest performer. The SPDR Utilities Select Sector ETF (XLU 40.32, -0.57) settled lower by 1.4%.  On the flip side, six cyclical sectors registered gains as financials, industrials, and technology led the broader market higher.  The financial sector displayed notable strength throughout the day as the SPDR Financial Select Sector ETF (XLF 19.05, +0.20) rose 1.1%. MBIA (MBI 14.29, +4.46) surged 45.4% after the insurer reached a $1.7 billion settlement with Bank of America(BAC 12.88, +0.64). In addition, Bank of America disclosed a 5.0% stake in MBIA.  Elsewhere, the industrial sector received support from transportation-related stocks as 18 of 20 components of the Dow Jones Transportation Average settled with gains. For its part, the bellwether complex added 1.3% to end at a fresh all-time high.  Technology stocks paced the bulk of last week's gains, and the outperformance continued today. Apple (AAPL 460.71, +10.73) climbed 2.4% after Barclays hiked its price target for the stock to $525 from $465. Chipmakers also displayed strength as the PHLX Semiconductor Index added 0.6%.  Although most tech components ended in positive territory, the underperformance of IBM(IBM 202.78, -1.73) weighed on the Dow Jones Industrial Average.  In the Treasury market, the 10-yr note saw some intraday selling as its yield rose two basis points to 1.765%.  Today's volume was well-below average as only 620 million shares changed hands on the floor of the New York Stock Exchange.  Tomorrow's economic data will be limited to the 15:00 ET release of March consumer credit. Among earnings of note, Fossil (FOSL 98.96, +0.70) and OfficeMax (OMX 11.74, +0.15) will report their results ahead of the opening bell.  The U.S. Treasury will auction $32 billion in 3-yr notes. ..NYSE Adv/Dec 1812/1175. ..NASDAQ Adv/Dec 1471/988.

After Hours

18:14 ET SNTS +11.3%, MELI +10.4%, BSFT +8.2%, RKUS -16.8%, FST -4.1%, ENOC -2.7% following earnings/guidance :

The major averages ended on a mixed note as the S&P 500 rose 0.2% while the Dow Jones Industrial Average shed five points.

Other notable movers on earnings/guidance: SNTS +11.3%, MELI +10.4%, BSFT +8.2%, NLS +7.3%, MPO +6%, ININ +6%, MKTG +5.9%, PODD +5.8%, HIMX +4%, PEGA +6.3%, EOG +3.3%, NOAH +2.5%, USU +2.3%, NOG +2.2%, EVTC +2%, SHO +1.9%, MMLP +1.4%, FSLR +1.3%, ROSE +1.3%, CUTR +1.3%, CSU +0.9%, SGY +0.8%, PAA +0.7%, NCLH +0.6%, GWAY +0.5%, VNTV +0.5%, RKUS -16.8%, FST -4.1%, ENOC -2.7%, HOLX -2.7%, MR -2.3%, CECO -1.9%, SMG -1.8%, PSEC -1.4%, CKEC -1.4%, PIKE -1.2%, TWTC -1%, IOSP -1%, KIRK -0.8%, BDE -0.5%, BABY -0.5%, BRY -0.4%, FTR -0.2%, EGOV -0.2%, PLOW -0.2%

Today after the close the following companies reported earnings: MTSC, APC, ARRY, HOLX, ININ, PIKE, HIMX, PAA, PL, PNG, SMG, WMS, ALNY, EGOV, GSM, CUTR, NCLH, OTTR, PKY, QLYS, SKH, TWTC, GWAY, RKUS, ENOC, EOG, NRP, PRA, PSB, SHO, FST, GDP, MKTG, PEGA, STAG, VNTV, FTR, CHUY, LGCY, MELI, MR, SGY, SYKE, FSLR, VNO, BSFT, CECO, DPM, IILG, MMLP, PODD, LXU, NOG, DCO, SNHY, SNTS, AMTG, BDE, PLOW, CKEC

Futures are _ after hours: S&P 500 futures are -0.44 from fair value of 1612.94 and Nasdaq100 futures are -3.29 from fair value of 2949.79.

Tomorrow morning before the open no economic reports are scheduled to be released.

Tomorrow before the open the following companies are scheduled to report earnings: CVLT, RGS, PRGO, TDG, ACM, ALLT, EMR, NRGY, PTRY, DFT, STE, BR, IFF, TW, DWSN, LPX, FOSL, LNCE, RHP, TGH, VPG, HSIC, TRGT, DISCA, DTV, DWRE, OAK, TAP, BCRX, XEC, CNK, OMX, CCOI, CHTR, ARIA, FE, HCN, KWK, AKRX, CMLP, CRZO, HFC, SHOO, VSI, AFAM, ARCC, NRG, BABY, ENDP, PQ, HPT, NVAX, RIGL, THRM, WRES, BLT, FXCM, NSM, PRIM, CQB, NNBR, TICC, CORE, GLDD, TA

Commodities

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Jason's Commentaries


Oh well, the day was flat and with the Dow being flat, and having both Nasdap and S&P500 leading the market, I would say the bulls are still quite strong. Nasdaq and S&P500 just made a fresh high last night, leading by financials and Tech while being lagged by utilities, staples and healthcare. Seems that the market is shifting away from the defensive play. Internals were pointing to the slightly bullish side. As there are not much news coming out today, i'm expecting the market to stay slightly bullish.

Market Call: FLAT to upside

Date: 7 May 2013