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Proprietary Trading Morning Market Update July 3 2013

U.S. Stocks Decline on Egypt, Portugal Amid Jobs Reports. U.S. stocks fell as turmoil in Egypt and political uncertainty in Portugal overshadowed better-than-estimated data on jobs growth and unemployment claims.

Rotation to Stocks From Bonds Less Than Great: Chart of the Day. Anyone who expects U.S. individual investors to push stocks higher by moving away from bonds may end up disappointed, according to Vadim Zlotnikov, Sanford C. Bernstein & Co.'s chief market strategist.

Pre-Market Activity:

$SPY -0.30%

$VXX +0.59%

$TLT +0.26%

$UUP -0.26%

$USO +2.10%

$UNG -1.19%

$GLD +0.74%

$SLV +2.10%

Early Movers:

$NDLS +4.24%

$ARMH +2.61%

$OSTK -4.19%

$AA -1.92%

$CS -2.98%

$ZNGA +3.06%

$TS -2.19%

Proprietary Trading Economic Calendar:

 

 

Date

Time (NYSE:ET)

Statistic

For

Actual

Briefing Forecast

Market Expects

Prior

Revised From

3-Jul

7:00 AM

MBA Mortgage Index

29-Jun

-11.70%

NA

NA

-3.00%

-

3-Jul

7:30 AM

Challenger Job Cuts

Jun

4.80%

NA

NA

-41.20%

-

3-Jul

8:15 AM

ADP Employment Change

Jun

188K

150K

150K

134K

135K

3-Jul

8:30 AM

Initial Claims

29-Jun

343K

345K

348K

348K

346K

3-Jul

8:30 AM

Trade Balance

May

-

-$42.0B

-$40.8B

-$40.3B

-

3-Jul

8:30 AM

Continuing Claims

15-Jun

2933K

2960K

2955K

2987K

2965K

3-Jul

8:30 AM

Trade Balance

May

-$45.0B

-$42.0B

-$40.8B

-$40.1B

-$40.3B

3-Jul

10:00 AM

ISM Services

Jun

52.2

53.5

54

53.7

-

3-Jul

10:30 AM

Crude Inventories

29-Jun

-10.347M

NA

NA

0.018M

-

3-Jul

12:00 PM

Natural Gas Inventories

29-Jun

72 bcf

NA

NA

95 bcf

 

Proprietary Trading Earnings Announcements:

Company

Symbol

EPS

Time

Add to My

Conference

Estimate*

Calendar

Call

Bassett Furniture Industries Inc

BSET

0.18

Before Market Open

Add

 

Begbies Traynor Group PLC

BEG.L

N/A

Time Not Supplied

Add

 

Chr Hansen Holding A/S

CHR.CO

N/A

Time Not Supplied

Add

 

Credit Foncier de Monaco SA

MLCFM.PA

N/A

Time Not Supplied

Add

 

Daejan Holdings PLC

DJAN.L

N/A

Time Not Supplied

Add

 

Dane-Elec Memory SA

DAN.PA

N/A

Time Not Supplied

Add

 

Groupe Vial SA

VIA.PA

N/A

Time Not Supplied

Add

 

Idox PLC

IDOX.L

N/A

Time Not Supplied

Add

 

International Speedway Corp

ISCA

0.5

Before Market Open

Add

Listen

Mertiva AB

MERT.ST

N/A

Time Not Supplied

Add

 

Sandvine Corp

SVC.TO

0.01

Before Market Open

Add

 

Stolt Nielsen Ltd

SNI.OL

N/A

Time Not Supplied

Add

 

Student Transportation Inc

STB.TO

0.06

Before Market Open

Add

 

Telecom Reseaux Services SA

ALTRS.PA

N/A

Time Not Supplied

Add

 

Trilogiq SA

ALTRI.PA

N/A

Time Not Supplied

Add

 

Unusual Options Activity:

CIEN- 2k July $22 calls were purchased for $0.10-$0.12 each, against open interest of 256 contracts. Ciena shares are up 1.18% today.

KSS- 2,100 Aug. $52.50 calls were purchased for $1.75-$2.50 each, against open interest of 1,600 contracts. Shares of Kohl's are trading just under the $53 resistance level..

TEF- 2k Sep. $15 calls were bought for $0.15 each, against open interest of 4,080 contracts. Telefonica shares are down nearly 15% from it's 2013 highs.

WAG- 5,000 Jan. 2014 $47 calls were bought for $2.15 each, against open interest of 11,864 contracts. Walgreen shares are down over 13% last month's highs.

GOOG- Google is now at the lows of the day, down almost 1%. A test of the 50-day EMA will likely come into play over the next week. Put to ratio in the July 5 weekly options is 1.12, led by activity in the $885 puts.

AAPL- Shares of Apple are well off of their highs today, but the stock is still up 1.38% nonetheless. The call to put ratio in the July 5 weekly options is 1.30, led by activity in the $420 calls.

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