* A strong green day on Wall St overnight that saw Dow closing at exactly 40k with breadth improving https://x.com/unusual_whales/status/1811853094864527737
* Stronger PPI dampened Precious Metals but gold and silver stocks bucked the trend, closing mixed
* A mixed outing although it appears that market participants were focusing on badly beaten stocks for quick gains
* With markets imputing a 90% chance of a Fed rate cut in Sept, this is one rate cut the Fed needs to deliver to avoid a market correction at the period of time the market is most susceptible.
* IMO this is becoming a traders market for nimble traders that don't attempt for overstay and get too comfortable, and for stale bulls to sell their 'dogs' into strength if opportunity arises; may be the last window [ obviously my opinion only, everyone needs to make their own decisions - We Are the Choices We Make]
Column 1
Column 2
Column 3
0
STOCK INDICES [US 12 Jul 24]
Overnight %
1
DOW
0.62%
40,000
2
S&P500
0.55%
5,615
3
NASDAQ
0.62%
18,396
4
DXY
-0.34%
104.08
5
US 2 YR
-0.05%
4.458
6
US 10 YR
-0.01%
4.187
7
AUD
0.38%
0.6784
8
GOLD
-0.18%
$ 2,411
9
SILVER
-2.12%
$ 30.79
10
BTC
0.97%
$ 57,892
11
12
13
GOLD
Overnight %
14
GDX
0.21%
15
GDXJ
-0.38%
16
NEWMONT GOLDCORP(NEM)
0.72%
17
BARRICK GOLD (GOLD)
2.15%
18
AGNICO EAGLE MINES (AEM)
0.67%
19
SILVER
20
SIL
-0.03%
21
SILJ
-0.54%
22
PAN AMERICAN SILVER(PAAS)
-1.17%
23
LITHIUM
24
SPROTT LITHIUM MINERS (LITP)
2.19%
25
GLOBAL X LITHIUM (LIT)
1.37%
26
ALBEMARLE (ALB)
-0.08%
27
SOQUIMICH (SQM)
0.61%
28
LITHIUM AMERICAS (LAC)
1.85%
29
PIEDMONT LITHIUM (PLL)
2.68%
30
ARCADIUM LITHIUM
4.25%
31
PATRIOT BATTERY METALS
10.69%
32
COPPER
33
GLOBAL X COPPER MINERS(COPX)
1.48%
34
BHP
1.79%
35
RIO
0.64%
36
SOUTHERN COPPER (SCCO)
0.53%
37
FREEPORT MCMORAN (FCX)
-0.45%
38
FIRST QUANTUM MINERALS (FQVLF)
2.43%
39
TECK RESOURCES (TECK)
2.57%
40
OIL
41
XLE
0.25%
42
EXXON (XOM)
0.01%
43
CHEVRON )CVX)
0.21%
44
OCCIDENTAL (OXY)
-0.46%
45
CONOCOPHILLIPS (COP)
-0.75%
46
MARATHON OIL (MRO)
-0.56%
47
HALLIBURTON (HAL)
0.95%
48
COAL
49
RANGE GLOBAL COAL (COAL)
1.14%
50
PEABODY ENERGY (BTU)
1.05%
51
ALPHA METALLURGICAL (AMR)
2.16%
52
ARCH RESOURCES (ARCH)
1.56%
53
WARRIOR MET COAL (HCC)
3.03%
54
URANIUM
55
GLOBAL X URANIUM (URA)
-0.26%
56
NICKEL
57
SPROTT NICKEL MINERS (NIKL)
-0.30%
58
RARE EARTHS
59
OPTICA RARE EARTHS (CRIT)
0.36%
Small Caps Break-Out To Best Week In 8 Months; Bonds & Bullion Big Week On Bad Data
BY Zero Hedge
SATURDAY, JUL 13, 2024 - 06:00 AM
A bad data week... Source: Bloomberg
...was good news for doves as rate-cut expectations soared...
Source: Bloomberg
...and despite yesterday's bloodbathery, all the US majors managed to rally into the green for the week early on today, with Small Caps literally exploding higher (up around 7% on the week!). A late-day selloff dragged Nasdaq red on the week though...
That was the Russell 2000's best week since November and broke it out to its highest since Jan 2022... Source: Bloomberg
...and the biggest RTY/NDX outperformance week since Nov 2020... Source: Bloomberg Small Caps were aided by a massive short-squeeze this week which saw "most shorted" stocks soaring 10% - the biggest squeeze since Dec... Source: Bloomberg
And while MAG7 stocks ended the week lower, it was only marginally, as today's bounce back erased some of yesterday's losses...but the late-day selling was predominantly among the mega-cap tech names... Source: Bloomberg
And of course, after yesterday saw all 7 names ending red (for the first time since April), the rebound today was 'inevitable'... Source: Bloomberg
0-DTE tracked stocks up and down today but the late-day selling pressure in stocks was NOT related to 0-DTE flow, in fact they bought the dip... Source: SpotGamma
Stocks vs bonds this week... no idea!!! Source: Bloomberg
Treasury yields tumbled on the week, led by the short-end... Source: Bloomberg
...which prompted a dramatic bull steepening and almost un-inversion of the curve (2s30s)... Source: Bloomberg
The dollar tumbled for the second straight week (the biggest two-week drop since December), erasing all of the gains seen since June payrolls... Source: Bloomberg
Thanks in large part to USDJPY and BoJ 'help'... Source: Bloomberg
Bitcoin managed gains on the week as ETF inflows dominated the German govt's dumpfest (as they emptied their coffers of every coin)... Source: Bloomberg
BTC ETFs saw inflows for 5 straight days... Source: Bloomberg
Gold surged back up near record highs this week, closing the week back above $2400... Source: Bloomberg
Thanks to weakness today, crude prices ended the week lower as WTI rejected $83.50... Source: Bloomberg
Finally, it was a big week for market moves but in the big picture equities remain in a universe of their own relative to global liquidity... Source: Bloomberg
Are stocks expecting a massive liquidity fest?
