Market Intelligence

Equity Market Insight from Nasdaq MID - June 30, 2017

Friday, June 30, 2017, 10:45 AM, EST

  • NASDAQ Composite 0.02% Dow 0.31% S&P 500 0.18% Russell 2000 0.01%
  • NASDAQ Advancers: 972 / Decliners: 1102
  • Today’s Volume (100day avg): +1.2%

As the second quarter draws to a close equities trade a little higher from the open. The major indices are fractionally positive but the Nasdaq and the R2K are dancing around the unchanged line. Most sectors are higher lead by Industrials (+0.6%) and Consumer (+0.5%) while Financials (-0.2%) and Energy (-0.1%) are soft. Crude oil is nearly 0.7% higher and is up over 5% this week; treasuries are mixed with yield on the 10-year up one basis point to 2.87%; gold is down 0.2% and the dollar is flat.

  • May Personal Spending came in as expected at an anemic 0.1%, down from 0.4% on April. Incomes however, rose a healthy 0.4% and disposable incomes rose 0.6%, the most since December 2012. The data also reflects a third month of softening inflation with prices rising just at an annual rate of 1.4%, less than expected and down from April’s 1.7% reading. The saving rate rose to 5.5% in May, the highest since September.
  • Nasdaq welcomes two new listing that IPO’d this morning. Tintri (TNTR) priced 8.6M shares at $7 and ShiftPixy (PIXY) priced 2M shares at $6.00.
  • Despite the holiday there is quite a bit on docket next week. US Equity markets will operate on a half day schedule Monday and close on Tuesday. On the economic calendar come ISM/Markit Manufacturing PMI on Monday, factory orders, durable goods, and FOMC meeting minutes on Wednesday, ADP Employment and ISM-Markit Services PMI on Thursday, and then Nonfarm Payrolls on Friday.

Technical Take:

With summertime in full swing it comes as no surprise that The US CPI Ale & Other Malt Beverages Index is trading at an all-time high. Although the moving averages continue underpinning bullish sentiment in the index, we wonder if it might be getting a little HEADY.


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Nasdaq's Market Intelligence Desk (MID) Team includes:

Michael Sokoll, CFA is a Senior Managing Director on the Market Intelligence Desk (MID) at Nasdaq with over 25 years of equity market experience. In this role, he manages a team of professionals responsible for providing NASDAQ-listed companies with real-time trading analysis and objective market information.

Jeffrey LaRocque is a Director on the Market Intelligence Desk (MID) at Nasdaq, covering U.S. equities with over 10 years of experience having learned market structure while working on institutional trading desks and as a stock surveillance analyst. Jeff's diverse professional knowledge includes IPOs, Technical Analysis and Options Trading.

Steven Brown is a Managing Director on the Market Intelligence Desk (MID) at Nasdaq with over twenty years of experience in equities. With a focus on client retention he currently covers the Financial, Energy and Media sectors.

Christopher Dearborn is a Managing Director on the Market Intelligence Desk (MID) at Nasdaq. Chris has over two decades of equity market experience including floor and screen based trading, corporate access, IPOs and asset allocation. Chris is responsible for providing timely, accurate and objective market and trading-related information to Nasdaq-listed companies.

Annie O'Callaghan is Director on the Market Intelligence Desk (MID) at Nasdaq. Annie has worked for NASDAQ in a variety of roles including support of Nasdaq C-level management in client retention and customer service. Annie also served as a Sales Director in Nasdaq’s Transactions Services business. Prior to joining Nasdaq, Annie worked at AX Trading, managing accounts for its Alternative Trading System and served on Credit Suisse's trading desk as an Electronic & Algorithmic Sales Trading Analyst.

Brian Joyce, CMT has 16 years of trading desk experience. Prior to joining Nasdaq Brian executed equity orders and provided trading ideas to institutional clients. He also contributed technical analysis to a fundamental research offering. Brian focuses on helping Nasdaq’s Financial, Healthcare and Airline companies among others understand the trading in their stock. Brian is a Chartered Market Technician.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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