Market Intelligence

MID - Equity Market Insight May 13, 2016

Friday the 13th

Friday, May 13, 2016, 11:32 AM, EST

  • Dow -0.14% S&P 500 -0.08% NASDAQ Composite +0.33% Russell 2000 -0.03%
  • NASDAQ Advancers: 1020/Decliners: 11061
  • Advance Volume: 58MM shares/Decline Volume: 41MM shares
  • New 52 week Highs (prior close): 30
  • New 52 week Lows (prior close): 115

Market Update:

U.S. equity markets are trading mixed to flat to start the morning. Currently 8 of the 10 S&P 500 index sectors are in the red with Info Tech and Health Care in the green as Consumer Staples and Telco the worst performers.

  • U.S. Retail Sales increased in the month of April by +1.3% vs expectations of +0.8% growth. Spending at nonstore retailers increased a surprising +2.1% vs polled estimates of +0.5% according to Bloomberg. We also saw outsized increases in Auto, Food & Beverages and Grocery spend. This is proof that the U.S. consumer is alive and well, but has continued to shift their shopping spend to on-line and personal experiences as opposed to purchasing brick and mortar retailers. This main theme was in play in Q4’15 as holiday consumer spend continues to shift to online from in-store shopping. This was evident this past week as many big box retailers reported lighter than expected earnings.
  • U.S. Producer Prices rose for the first time in three months, but still below economist expectations, rising +0.2% vs +0.3%. Ex-Food and Energy wholesale prices rose +0.1% in April, in line with expectations. Fuels and lubricants increased +11.5% vs last month’s decline of -4.6%. The signal here is that recent increase in energy price is starting to be seen by domestic producers of goods and services.
  • Two IPOs began trading on Nasdaq today - Acacia Communications (ACIA) , a supplier of communication equipment, priced 4.5 million shares at $23 and opened with a 28% pop. Oncobiologics (ONSIU) is a clinical-stage biopharmaceutical company, priced 5.8 million units at $6 each.

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.

Vincent Randazzo, CMT is a Managing Director on the Market Intelligence Desk (MID) at Nasdaq with over 13 years of experience in equity markets having served in equity research sales and desk analyst roles at major banks. Vincent’s specific expertise is in technical analysis and has been a Chartered Market Technician (CMT) since 2007.

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.

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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