US Stock Indexes Finished Lower On High Volume Quad Witching Day
$IBB, $ITB, $XRT, $AAPL, $CAG, $KHB, $MSFT, $ORCL
DJIA +1.1% YTD, NAS 100 +8.0% YTD, S&P 500 +2.5% YTD, Russell 2000 +6.7% YTD
DJIA -101.56 at 18014.28, NAS 100 -15.95 at 5117.00, S&P 500 -11.49 at 2109.75
Volume: trade was very high Friday, with about 2-B/shares changing hands on the NYSE.
The US stock indexes finished the week on a down note:the S&P 500 lost 0.5% Friday, but gained 0.8% on the week.
The week passed without a deal between Greece and its creditors, the lack of progress caused more than EUR3.00-B in outflows from the Greek banking system this week, which prompted the European Central Bank (ECB) to increase Greece’s Emergency Liquidity Assistance by EUR 1.80-B to EUR 84.90-B. The Greeks asked for more…
US 10-yr T-Note rallied Friday with its yield dropping 7 bpts to 2.26%, which extended this week’s decline to 13 bpts.
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All 10 SP stock sectors finished in the Red.
The consumer staples stock sector (-0.1%) losing its gainer during the last hour.
ConAgra (NYSE:CAG) 43.37, +4.25, or +10.9% after Jana Partners disclosed a 7.2% active stake in the company and announced plans to seek representation on the company’s board of directors.
The consumer discretionary (-0.3%) and healthcare (-0.1%) ended the day with slim losses, less than the broad market.
The discretionary stock sector displayed relative strength
KB Home (NYSE:KBH) 16.37, +1.41 beat earnings estimates. Shares of KBH soared 9.4%, and the broader iShares Dow Jones US Home Construction ETF (NYSEArca:ITB) 27.40, +0.35, or + 1.3%.
Retail stocks also fared better than the broad market with SPDR S&P Retail ETF (NYSEArca:XRT) 100.40, -0.11.
Biotechnology was healthy on the week iShares Nasdaq Biotechnology ETF (NYSEArca:IBB) 377.40, -0.48, or +3.7% for the week.
On the Southside
The energy stock sector (-0.9%) trailed throughout the session, Crude Oil contributed to the weakness. The energy component lost 1.3%, ending the pit trade at 59.64 bbl.
The financials (-1.0%) struggled, on the week, the financial sector finished off 0.1%.
The technology stock sector (-0.7%) struggled on the day.
Large cap sector components like Apple (NASDAQ:AAPL) 126.60, -1.28, Microsoft (NASDAQ:MSFT) 46.10, -0.62, and Oracle (NASDAQ:ORCL) 41.59, -1.15 lost between 1.0% and 2.7%, the PHLX Semiconductor Index falling 0.3%.
Monday
Existing Home Sales report for May (consensus 5.26 million) 10:00a EDT.
Have a terrific weekend.
HeffX-LTN
Paul Ebeling
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