Briefing 7/10/2017 9:31
MARKETS Last Change BRIEFING: None of the three major U.S. market  indices are in positive territory. The EUR/USD currency pair is at 1.1388. The EUR/USD 52wk Range is 1.0458 - 1.3697. The  30-10 year treasury difference is positive. and the 10-5 year treasury difference is positive. This means the treasury yield curve is normal , Regarding S&P 500 Sectors, 9 of the 10 sectors are in positive territory.  Sector performance ranges from -0.15% to 2.24%. The average percentage change for all sectors is 0.584%.  Regarding world market performance, the Shanghai  is down, Nikkei 225  is up, Hang Seng Index  is up, TSEC  is down, FTSE 100  is up, EURO STOXX 50  is up. 
Dow Jones 21372.76 -41.58(-0.19%)
S&P 500 2422.63 -2.55(-0.11%)
Nasdaq 6150.86 -2.22(-0.04%)
World Markets
Shanghai  3212.63 -5.32 (-0.17%)
Nikkei 225  20080.98 +151.89 (0.76%)
Hang Seng Index  25500.06 +159.21 (0.63%)
TSEC  10289.91 -7.34 (-0.07%)
FTSE 100  7351.31 +0.39 (0.01%)
EURO STOXX 50  3471.04 +7.20 (0.21%)
Currencies
EUR/USD 1.1388 -0.0016 (-0.14%)
USD/JPY 114.177 +0.1955 (0.17%)
GBP/USD 1.2876 -0.0011 (-0.09%)  
USD/CAD 1.29 +0.0018 (0.14%) Economic Outlook: 
USD/HKD 7.8132 +0.0016 (0.02%) GDP: 2% growth for the year, down from 2.4% in '15 
USD/CNY 6.8046 +0.0047 (0.07%) Unemployment: Falling to 4.6% by end '16, from 5% now 
AUD/USD 0.7593 -0.0012 (-0.16%) Interest rates: 10-year T-notes at 2.4% by end '16 
Treasuries Inflation: 2.4% for '16, up from 0.7% in '15 
2 Year 0.0138 0.00 (0.00%) Business spending: 4% gain in '16, after drop in '15 
5 Year 0.0193 +0.01 (0.52%) Energy: Crude oil at $40 to $45/bbl. heading into Memorial Day 
10 Year 0.0237 0.00 (0.00%) Housing: Construction of single-family homes up 15% this year 
30 Year 0.0293 +0.01 (0.34%) Retail sales: 3.8% growth in '16, from 4.6% in '15 (excluding gasoline sales) 
Sectors Trade deficit: Widening 4% in '16, after a 6.2% increase in '15 
Energy -0.15%  
Basic Materials 0.36%
Industrials 0.79% Market Assessment: Overvalued
Cyclical Cons. Goods ... 0.68% Death Crosses ocurred for SPY-USA, EEM-Emerging, EFA-Developed
Non-Cyclical Cons. Goods... 0.49% CAPE (cyclical adjusted price earnings) stands at 26.8 - very high.
Financials 0.47% Q-Ratio (Market/Replacement Value) is currently very high
Healthcare 0.58% Only 1 stock in the S&P 500 is undervalued (PEG<1,PB<1,PS<1).
Technology 2.24% 60% of S&P 500 stocks have fallen 20%-plus
Telecommunications Servi... 0.25% Equities have been artificialy elevated via FED Policy.
Utilities 0.13% Investors: Sell on market rallies.