Despite the awesome unchiness of today's broad market, some big names were ugly...
Everything is not awesome everywhere...
* * *
US equities traded in an extremely narrow range all day, weak into Europe's close, drifting higher in the afternoon...
The following chart of the S&P (cash) shows the odd nature of the last few days - opening dump, stabilize into EU close, drift higher in the afternoon, ramp into close...
And here is how you close the S&P green...
AAPL tumbled on a CS report confirming our earlier channel check and supply chain details...
Another hedge fund hotel - SunEdison - collapsed another 20-plus percent today...
Finally VRX dropped again - after a bief bounce intraday... despite every effort to calm investor anxiety...
Credit markets have now fallen for (wider spreads) for 5 days in a row - longest streak in 3 months...
With Credit leading stocks lower...
But Treasuries & Stocks have now finally recoupled...
But Treasury yields ended the day lower (with the front-end outperforming - 3Y -4bps, 10Y -2bps, 30Y -1bp) - once again Treasuries followed a similar pattern around the EU close... (someone is dumping Treasuries from Europe, and then stop once Europe closes)
The USD spiked early on amid a collapse in EURUSD back to a 1.06 handle - but recovered after Europe closed to end the day unchanged on the week...
Notably it appears someone in Europe is dumping EURs into the early US session...
Commodities were a mixed bag today with PMs hurt early on and crude bouncing higher despite IEA warnings (only to end unch)...
Bloomberg's Commodity Index hit a fresh 16-year low...
Charts: Bloomberg
Bonus Chart: Seriously - as we stated at the start - everything is not awesome...
Small Business Sales Expectations pic.twitter.com/zOPtpir0w4
— Not Jim Cramer (@Not_Jim_Cramer)
https://twitter.com/Not_Jim_Cramer/status/664108418605518848
