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Proprietary Trading Morning Market Update July 11 2013

S&P 500 Climbs Above Record Close on Bernanke Comments. U.S. stocks jumped, sending the Standard & Poor's 500 Index above its record closing level, as Federal Reserve Chairman Ben S. Bernanke backed sustained monetary stimulus.

European stocks at five-week high as stimulus worries soothed. European shares hit five-week highs on Thursday and broke above technical resistance to pave the way for further gains after the U.S. Federal Reserve allayed market concerns of an imminent start to its stimulus withdrawal.

Pre-Market Activity:

$SPY +0.99%

$VXX -3.23%

$TLT +1.03%

$UUP -1.10%

$USO -0.29%

$UNG -0.41%

$GLD +2.69%

$SLV +4.92%

Early Movers:

$YUM (Beats Q2 estimates) +0.54%

$TXI (Tops the top and bottom line Q4 numbers) +4.65%

Proprietary Trading Upcoming Economic Calendar:

Date

Time (NYSE:ET)

Statistic

For

Actual

Briefing Forecast

Market Expects

Prior

Revised From

11-Jul

8:30 AM

Initial Claims

6-Jul

360K

345K

345K

344K

343K

11-Jul

8:30 AM

Continuing Claims

29-Jun

2977K

2950K

2949K

2953K

2933K

11-Jul

8:30 AM

Export Prices ex-ag.

Jun

-0.20%

NA

NA

-0.70%

-

11-Jul

8:30 AM

Import Prices ex-oil

Jun

-0.30%

NA

NA

-0.30%

-

11-Jul

10:30 AM

Natural Gas Inventories

6-Jul

82 bcf

NA

NA

72 bcf

-

11-Jul

2:00 PM

Treasury Budget

Jun

-

$115.0B

$115.0B

-$59.7B

 

Proprietary Trading Earnings Announcements:

Company

Symbol

EPS

Time

Add to My

Conference

Estimate*

Calendar

Call

Ahlers AG

AAH.F

N/A

04:00 am ET

Add

 

AngioDynamics Inc

ANGO

0.06

After Market Close

Add

 

Bank of Ozarks Inc

OZRK

0.57

After Market Close

Add

 

Century Bancorp Inc

CNBKA

N/A

Time Not Supplied

Add

 

Ceres Inc

CERE

-0.31

After Market Close

Add

 

Cogeco Cable Inc

CCA.TO

1.03

Before Market Open

Add

 

Cogeco Inc

CGO.TO

1.13

Before Market Open

Add

 

Commerce Bancshares Inc

CBSH

0.71

Before Market Open

Add

 

DNB ASA

DNB.OL

N/A

01:30 am ET

Add

 

Ecounion AG

KN1.DE

N/A

Time Not Supplied

Add

 

Emerson Radio Corp

MSN

N/A

Time Not Supplied

Add

 

Fielmann AG

FIE.DE

N/A

Time Not Supplied

Add

 

Fred Olsen Energy ASA

FOE.OL

N/A

02:00 am ET

Add

 

Independent Bank Corp

INDB

0.59

After Market Close

Add

 

Interflex Co Ltd

051370.KQ

N/A

Time Not Supplied

Add

 

Kirkland Lake Gold Inc

KGI.TO

0.17

Before Market Open

Add

 

Klovern AB

KLOV.ST

N/A

Time Not Supplied

Add

 

Kongsberg Automotive Holding ASA

KOA.OL

N/A

Time Not Supplied

Add

 

Mwana Africa PLC

MWA.L

N/A

Time Not Supplied

Add

 

Northern Technologies International Corp

NTIC

0.18

Before Market Open

Add

 

Norwegian Air Shuttle ASA

NAS.OL

N/A

02:30 am ET

Add

 

Orchard Supply Hardware Stores Corp

OSHWQ

N/A

Time Not Supplied

Add

 

Otelco Inc

OTEL

N/A

10:30 am ET

Add

Listen

Peregrine Pharmaceuticals Inc

PPHM

-0.06

After Market Close

Add

 

Powerland AG

1PL.DE

N/A

Time Not Supplied

Add

 

Redstone PLC

RED.L

N/A

Time Not Supplied

Add

 

Rocky Mountain Chocolate Factory Inc

RMCF

0.18

Before Market Open

Add

 

Rubicon Minerals Corp

RMX.TO

-0.01

Time Not Supplied

Add

 

SemiLEDs Corp

LEDS

-0.21

Before Market Open

Add

 

Simulations Plus Inc

SLP

0.06

Before Market Open

Add

 

SinnerSchrader AG

SZZ.F

N/A

Time Not Supplied

Add

 

Suedzucker Mannheim Ochsenfurt AG

SZU.DE

N/A

01:00 am ET

Add

 

SuperGroup PLC

SGP.L

N/A

Time Not Supplied

Add

 

TigerLogic Corp

TIGR

N/A

After Market Close

Add

 

Volt Information Sciences Inc

VISI

N/A

Time Not Supplied

Add

 

Wilex AG

WL6.F

N/A

Time Not Supplied

Add

 

Unusual Options Activity:

JPM- J.P. Morgan will report Q2 earnings tomorrow morning before the bell. Analysts are looking for $1.43 in EPS and revenue of $24.8 billion. Options traders are pricing in a $1.31 move, or 2.40%, in either direction. The call to put ratio in the July 12 weekly options is 1.14.

WFC- Wells Fargo is another big bank that will report Q2 earnings in the morning. Analysts are looking for $0.92 in EPS and revenue of $21.2 billion. The options market is pricing in a $1.19 move, or 2.87%, in either direction. Put to call ratio in the July 12 weekly options is currently 1.48.

BBRY- 10k Dec. $20 calls were bought for $0.11-$0.15 each, against open interest of 22,058 contracts. Check the open interest in the morning for confirmation of new buying. BlackBerry shares are just a few percent off of the lows for 2013.

CFX- 2,500 Dec. $60 calls were purchased for $1.25 each, against open interest of 2,679 contracts. Also, check the open interest in the morning for confirmation of new buying. Shares of Colfax have been trending higher, but are slightly in today's session.

AAPL- Apple shares are up over 1%, keeping pace with the broader market today. The call to put ratio in the July 12 weekly options is 1.35, led by activity in the $425 and $430 calls.

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