Wall Street Greek: TUESDAY’S MARKET: Pundit Push Toward Shelter Island?

We are looking ahead to a light economic data day. The reports on the schedule hardly have impact, so investors will instead look to the pundits, who I expect will mostly push stocks, since asset management fees pay for their summer vacations on Shelter Island. Keep your eye on Putin, as yesterday’s news was concerning regarding a Russian push of the renminbi over the dollar and its annexation of the International Space Station.

U.S. Markets

Market ETF	6/9	YTD	TTM
SPDR S&P 500 (NYSE: SPY)	+0.1%	+5.9%	+18.7%
SPDR Dow Jones (NYSE: DIA)	+0.1%	+2.3%	+11.1%
PowerShares (Nasdaq: QQQ)	-0.1%	+5.4%	+26.4%
SPDR Gold Shares (NYSE: GLD)	+0.0%	+3.9%	-9.5%
iShares US Real Estate (NYSE: IYR)	-1.1%	+14.1%	+5.9%
United States Oil (NYSE: USO)	+1.5%	+8.1%	+12.3%
PowerShares DB US$ Bullish (NYSE: UUP)	+0.4%	+0.1%	-2.8%
PIMCO Total Return ETF (NYSE: BOND)	-0.0%	+3.6%	+1.3%

Stocks slowed up their pace of gains yesterday and Europe turned red, so the ECB catalyst has faded short-term; it is show me time now. Don’t think the market didn’t notice Russia’s annexation of the International Space Station. Investors are still watching (maybe from the corner of their eyes) Russian actions and praying the West does not issue any more penalties against our Eastern foe. It appears Putin’s pride was bruised when he was left out of the group of nations meeting. Don’t make him mad; we won’t like him when he’s mad. It’s time to make nice with Russia before they follow through with threats of lifting the renminbi over the dollar.

International Markets

EUROPE	%	ASIA/PACIFIC	%
Vanguard FTSE Europe (NYSE: VGK)	-0.2%	Precidian MAXIS Nikkei (NYSE: NKY)	-0.2%
iShares MSCI UK (NYSE: EWU)	-0.1%	SPDR S&P China (NYSE: GXC)	+0.8%
iShares MSCI France (NYSE: EWQ)	-0.5%	iShares Asia 50 (NYSE: AIA)	+0.0%
iShares MSCI Germany (NYSE: EWG)	-0.4%	iShares MSCI S. Korea (NYSE: EWY)	-0.2%
Global X FTSE Greece (NYSE: GREK)	+0.1%	iPath MSCI India (NYSE: INP)	+0.3%

Economic Data

TUESDAY’S ECONOMIC REPORT SCHEDULE
Economic Data Point	Prior	Expected	Actual
TUESDAY
NFIB Small Biz Optimism	95.2	95.5	96.6
JOLTS – Job Openings	4.014 M	4.025 M
Wholesale Trade – Inventories	+1.1%
-Sales
ICSC Sales Weekly	+2.9%		-2.8%
-Yearly	+3.1%		+3.0%
Redbook Yearly Sales	+3.5%		+3.3%

Do not fear the weekly demise of the ICSC same-store sales data, as it was holiday influenced and is not a bother. Look instead to the year-over-year change, which was steady. Small business optimism was reported improved today, and no matter how much small businessmen complain about the situation, investors will look to the direction of change today and play on that. Job openings are expected to have increased when the JOLTS Report is published today. Jobless claims show the labor situation is improving, while stubborn long-term and structural issues remain in the labor market. All in all, this data looks like, at minimum, no obstacle for stocks today, at best, further driver for higher moves.

Commodity Markets (6/9)

United States Oil (NYSE: USO)	+1.5%
iPath SP Crude Oil (NYSE: OIL)	+1.7%
U.S. Natural Gas (NYSE: UNG)	-1.6%
U.S. Gasoline (NYSE: UGA)	+1.2%
SPDR Gold Trust (NYSE: GLD)	+0.0%
Market Vectors Gold Miners (NYSE: GDX)	-0.4%
iShares Silver Trust (NYSE: SLV)	+0.2%
iPath DJ UBS Industrial Metals (NYSE: JJM)	+0.0%
Teucrium Corn ETF (NYSE: CORN)	-1.3%
Teucrium Wheat Fund (NYSE: WEAT)	-0.8%
Teucrium Soybean Fund (NYSE: SOYB)	+0.7%
iPath DJ-UBS Cocoa (NYSE: NIB)	+0.8%
iPath DJ-UBS Sugar (NYSE: SGG)	-0.1%
ICE Orange Juice Conc.	+0.6%
CME Lumber	+0.5%
CME Live Cattle	-0.1%

Oil prices rose in dollar terms yesterday, perhaps on Russia’s move to lift the renminbi over the dollar. Investors are perhaps worried about what might come if the West issues any more sanctions against Russia.

Stock Activity

It’s a short earnings list today that includes a few retailers and retail like names.

EPS REPORTS
Company	Ticker
TUESDAY
Burlington Stores	Nasdaq: BURL
Christopher & Banks	NYSE: CBK
Francesca’s	Nasdaq: FRAN
HD Supply Holdings	NYSE: HDS
NCI Building Systems	NYSE: NCS
Oxford Industries	NYSE: OXM
RadioShack	NYSE: RSH
Science Applications	Nasdaq: SAIC
Ulta Salon	Nasdaq: ULTA
United Natural Foods	Nasdaq: UNFI

YESTERDAY’S MOST ACTIVE STOCKS
BIGGEST GAINERS	% Gain
Idenix Pharmaceuticals (Nasdaq: IDIX)	+229%
Achillion Pharmaceuticals (Nasdaq: ACHN)	+48%
Synergy Pharmaceuticals (Nasdaq: SGYPW)	+35%
Hittite Microwave (Nasdaq: HITT)	+29%
IFM Investments (NYSE: CTC)	+23%
Profire Energy (Nasdaq: PFIE)	+23%
InterCloud Systems (Nasdaq: ICLDW)	+19%
Synthetic Biologics (NYSE: SYN)	+19%
Doral Financial (NYSE: DRL)	+17%
New Concept Energy (NYSE: GBR)	+16%
BIGGEST LOSERS	% Drop
Torchlight Energy (Nasdaq: TRCH)	-26%
Northwest Biotherapeutics (Nasdaq: NWBOW)	-18%
Endeavour Int’l (NYSE: END)	-16%
RiceBran Technologies (Nasdaq: RIBTW)	-12%
Ambient Corp. (Nasdaq: AMBT)	-10%
USA Technologies (Nasdaq: USATP)	-9%
Oil-Dri Corp. (NYSE: ODC)	-9%
Digital Ally (Nasdaq: DGLY)	-9%
Integrated Electrical (Nasdaq: IESC)	-9%
Comverse (Nasdaq: CNSI)	-9%

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