Market Commentary
Equities reversed most of the negative price damage incurred from last week. Meanwhile, commodities such as Gold and Crude Oil bounced upward from their extremely oversold positions. The Federal Reserve rate hike anticipated by many for the month of September is far from a “done deal†as Vice Chairman Fischer reminded the market today. Unlike equities, the bond market didn’t buy this jawboning and rates ticked up despite dovish comments.
Market breadth for the SP-500 components was overwhelmingly positive with 427 advancers vs. 5 unchanged and 68 decliners. 182 of the benchmark index’s stocks hit new 5 day highs vs. 17 new 5 day lows, in addition to 33 new 52-week highs and 5 new 52-week lows.
Stock price increases on surging volume
- Precision Cast Parts (PCP)Â @ 230.92 (+19.10%)Â on 1100% volume surge
- Sysco Corp (SYY)Â @ 37.59 ((+1.79%)Â on 226% volume surge
- Genworth Financial (GNW)Â @ 5.47 (+13.49%)Â on 190% volume surge
- Apache Corp (APA)Â @ 48.45 (+5.07%)Â on 175% volume surge
- Time Warner Inc. (TWX)Â @ 82.17 (+2.53%)Â on 112% volume surge
Stock price declines on surging volume
- Starbucks Corp (SBUX)Â @ 56.27 (-1.63%) on 51% volume surge
- Edison Int’l (EIX) @ 59.54 (-2.41%) on 46% volume surge
- Entergy Corp (ETR)Â @ 68.91 (-1.92%) on 39% volume surge
- Monster Beverage (MNST)Â @ 144.73 (-2.98%) on 38% volume surge
 Market Summary
Index |
Price |
Change |
| SP-500 | 21.04.17 | +26.60 / +1.28% |
| Nasdaq-100 | 4573.11 | Â +53.03 / +1.17% |
| Russell-2k | 1222.67 | +15.77 / +1.31% |
| VIX | 12.23 | -1.16 / -8.66% |
| 10 Yr Tsy Note Rate | 2.23 | +0.06 / +2.76% |
| 30 Yr Tsy Bond Rate | 2.90 | +0.08 / +2.84% |
| US Dollar Index | 97.15 | -0.41 / -0.42% |
| Gold | 1104.20 | +10.40 / +0.95% |
| WTI Crude Oil | 44.95 | +1.08 / +2.46% |
| DJ Real Estate Index | 292.42 | -0.31 / -0.11% |
| DJ Homebuilders Index | 582.64 | +11.01 / + 1.93% |
