MTdailynews
10-23-2007, 07:17 PM
The markets were generally higher across the board today amidst a somewhat slushy trading day. At times the markets almost stood still, as if waiting for a reason to move, in either direction. Trading volume was moderate, with fair trading ranges. Earnings season appears to be providing nice gains, for those reporting better than expected earnings. The Bulls were in control of the session from the opening bell.
At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a triple digit gain of 109.26 points on the day to end the session at 13,676.23; the NYSE (New York Stock Exchange) posted a triple digit gain of 110.21 points to end the session at 10,040.99; the NASDAQ posted a gain of 45.33 points for a close at 2,799.26; the S&P 500 moved higher by 13.26 points to end at 1,519.59 and the RUSSELL 2000 moved higher by 8.45 points to close at 818.53. The FTSE All-World Index ex-US (top Large/Mid Cap aggregate from over 2,700 stocks from the FTSE Global Equity Index Series (GEIS) which covers 90% of the world’s investable market capitalization) posted a gain of 3.34 points to close at 270.08 and the FTSE RAFI 1000 posted a gain of 41.94 points to close at 6,222.97.
ICSC-UBS Chain Store Sales down 1.5% for week of October 20.
U.S. Retail Sales down 0.2% for first 2 weeks in October versus September. National chain store sales fell 0.2% in first two weeks of October versus the previous month, according to Redbook Research's latest indicator of national retail sales released today. The rise in the index was in line with the target and the Johnson Redbook Index also showed seasonally adjusted sales in the two-week period rose 2.1% compared with the same period a year earlier. For the month versus the same month a year ago, sales were up 2.3%. "Sales pulled back following the Columbus Day promotional activity during the prior week, with an especially slow week in apparel sales," the report read. Many believed weather to be the culprit, although some feared a broader softness was behind the weak sales, per the report.
President Federal Reserve Bank of Chicago, Charles L. Evans comments released from late yesterday: policy must look at functioning of financial markets; must be mindful of international sector; Fed always looks at underlying inflation; should respond to threats to inflation outlook; housing demand could weaken more than expected; economy performing 'fairly well' outside housing; Fed needs to take account of market uncertainties; volatile markets add 'uncertainties' to outlook; 'optimistic' about inflation improvements; Fed cannot 'afford to be lax' on inflation front; sees Core PCE inflation at 1.5% - 2% in 2008 – 2009; latest numbers on inflation 'positive'; doesn't see large movements in core inflation; recent data supports Fed's 'baseline forecast'; markets 'functioning better,' yet 'risks remain'; labor markets 'should remain healthy'; sees economic growth close to 2.5% in later 2008 and forecasts 'soft economic activity' in fall.
Former Federal Reserve Chairman, Alan Greenspan comments released today: inclined to be skeptical toward Super SIV; whether Super SIV will narrow spreads is 'tricky'; housing market problem lies in new home prices and odds of U.S. recession 'definitely less' than 50/50.
Commodities Markets
The trend was lower across the board yet again today for the Energy Sector: Light crude moved lower today by $0.75 to close at $85.27 a barrel; Heating Oil closed lower by $0.01 today at $2.32 a gallon; Natural Gas moved lower today by $0.06 to close at $7.47 per million BTU and Unleaded Gas moved lower today by $0.02 to close at $2.11 a gallon.
Metals Market ended the session higher across the board today: Gold moved higher today by $3.10 to close at $763.10 an ounce; Silver moved higher by $0.10 to close at $13.65 per ounce; Platinum moved sharply higher today by $13.20 to close at $1,453.00 an ounce and Copper closed higher by $0.03 today at $3.51 per pound.
On the Livestock and Meat Markets, the trend was lower across the board today: Lean Hogs ended the day lower by $0.63 to close at $56.28; Pork Bellies ended the day lower by $1.20 at $81.53; Live Cattle ended the day lower by $0.35 at $97.23 and Feeder Cattle ended the day lower by $0.83 at $110.75.
Other Commodities: Corn moved lower today by $3.50 to close at $361.00 and Soybeans moved higher today by $5.50 to end the session at $999.25.
Bonds were mostly higher across the board today: 2 year bond moved higher by 2/32 today to close at 100 10/32; 5 year bond moved higher by 4/32 to close at 100 2/732 today; 10 year bond moved higher by 2/32 today to close at 102 22/32 and the 30 year bond closed lower by 2/32 at 104 26/32 for the day.
The e-mini Dow ended the session today at 13,675 with a gain of 65 points on the trading session. The total Dow Exchange Volume for the day came in at 248,234 which are comprised of Electronic, Open Auction and Cash Exchange. Traders should review workshops available at the CBOT (Chicago Board of Trade) Educational in-person seminars schedules available on CBOT (Chicago Board of Trade) website.
The end of day results for the CBOT (Chicago Board of Trade) which is comprised of the total Exchange Volume for Futures and Options (EVFO) including Electronic, Open Auction and Cash Exchange ended the day at 4,171,168; Open Interest for Futures moved lower by 8,656 points to close at 9,588,429; the Open Interest for Options moved higher by 56,020 points to close at 9,051,498 and the Cleared Only closed higher by 283 points at 9,600 for a total Open Interest on the day of 18,649,527 for a total Change on the day with a gain of 47,647 points.
On the NYSE today, advancers came in at 2,226 decliners totaled 1,059 unchanged came in at 94; new highs came in at 76 and new lows came in at 109. Gainers and losers for the day as well as active day trading stocks on the NYSE: CME Group Incorporated (CME) roared higher on the trading session by 15.90 points with a high on the session of $637.27, a low of $620.36 with a final trading price at $634.60; FTSE/Xinhua China (FXI) moved nicely higher on the day for a gain of 8.54 points with a high on the day of $210.74, a low of $204.95 for a final trading price at the bell of $210.04; Rio Tinto plc (RTP) romped higher on the session for a nice gain of 14.36 points with a high on the trading day of $348.66, a low of $340.00 for a closing price at the high of the day at $347.66; Uniao de Bancos Brasileiros (UBB) bolted higher by 7.51 points with a high on the day of $147.28, a low of $141.75 for a closing price at $145.91 and CNH Global N.V. (CNH) moved higher on the day for a gain of 10.99% to tack on 6.24 points for a closing price of $63.04.
On the NASDAQ today, advanced totaled 1,794; decliners totaled 1,159; unchanged came in at 149; new highs came in at 85 and new lows came in at 103. Gainers and losers for the day as well as, active day trading stocks on the NASDAQ: Apple Incorporated (AAPL) posted a nice gain of 11.80 points with a final trading price of $186.16; Research in Motion Limited (RIMM) posted a gain of 11.15 points with a high on the day of $128.36, a low of $114.00 for a final trading price at $124.53; Waste Industries USA Incorporated (WWIN) roared higher on the session with a gain of 7.28 points to climb higher by 25.57% with a final trading price at $35.75; Millicom International Cellular (MICC) soared higher on the day amidst active day trading with a high of $36.40, a low of $28.59 for a sharp gain of 21.32% to tack on 18.49 points with a final trading price at $105.20; Global Sources Limited (GSOL) tacked on a whopping 21.23% for a gain of 6.51 points with a high of $37.70, a low of $31.55 for a final trading price at $37.18; Columbus McKinnon Corporation (CMCO) moved nicely higher by 17.42% for a gain of 4.48 points for a final trading price of $30.20; Google Incorporated (GOOG) tore up the market with a strong gain of 25.02 points for a high on the session of $677.60, a low of $660.00 for a final trading price at $675.77 and Baidu.com Incorporated (BIDU) took a nice piece of action of the market session with a gain of 33.64 points to tack on a gain of 10.64% with a high on the day of $349.98, a low of $323.79 for a closing price at the bell of $349.90.
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At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a triple digit gain of 109.26 points on the day to end the session at 13,676.23; the NYSE (New York Stock Exchange) posted a triple digit gain of 110.21 points to end the session at 10,040.99; the NASDAQ posted a gain of 45.33 points for a close at 2,799.26; the S&P 500 moved higher by 13.26 points to end at 1,519.59 and the RUSSELL 2000 moved higher by 8.45 points to close at 818.53. The FTSE All-World Index ex-US (top Large/Mid Cap aggregate from over 2,700 stocks from the FTSE Global Equity Index Series (GEIS) which covers 90% of the world’s investable market capitalization) posted a gain of 3.34 points to close at 270.08 and the FTSE RAFI 1000 posted a gain of 41.94 points to close at 6,222.97.
ICSC-UBS Chain Store Sales down 1.5% for week of October 20.
U.S. Retail Sales down 0.2% for first 2 weeks in October versus September. National chain store sales fell 0.2% in first two weeks of October versus the previous month, according to Redbook Research's latest indicator of national retail sales released today. The rise in the index was in line with the target and the Johnson Redbook Index also showed seasonally adjusted sales in the two-week period rose 2.1% compared with the same period a year earlier. For the month versus the same month a year ago, sales were up 2.3%. "Sales pulled back following the Columbus Day promotional activity during the prior week, with an especially slow week in apparel sales," the report read. Many believed weather to be the culprit, although some feared a broader softness was behind the weak sales, per the report.
President Federal Reserve Bank of Chicago, Charles L. Evans comments released from late yesterday: policy must look at functioning of financial markets; must be mindful of international sector; Fed always looks at underlying inflation; should respond to threats to inflation outlook; housing demand could weaken more than expected; economy performing 'fairly well' outside housing; Fed needs to take account of market uncertainties; volatile markets add 'uncertainties' to outlook; 'optimistic' about inflation improvements; Fed cannot 'afford to be lax' on inflation front; sees Core PCE inflation at 1.5% - 2% in 2008 – 2009; latest numbers on inflation 'positive'; doesn't see large movements in core inflation; recent data supports Fed's 'baseline forecast'; markets 'functioning better,' yet 'risks remain'; labor markets 'should remain healthy'; sees economic growth close to 2.5% in later 2008 and forecasts 'soft economic activity' in fall.
Former Federal Reserve Chairman, Alan Greenspan comments released today: inclined to be skeptical toward Super SIV; whether Super SIV will narrow spreads is 'tricky'; housing market problem lies in new home prices and odds of U.S. recession 'definitely less' than 50/50.
Commodities Markets
The trend was lower across the board yet again today for the Energy Sector: Light crude moved lower today by $0.75 to close at $85.27 a barrel; Heating Oil closed lower by $0.01 today at $2.32 a gallon; Natural Gas moved lower today by $0.06 to close at $7.47 per million BTU and Unleaded Gas moved lower today by $0.02 to close at $2.11 a gallon.
Metals Market ended the session higher across the board today: Gold moved higher today by $3.10 to close at $763.10 an ounce; Silver moved higher by $0.10 to close at $13.65 per ounce; Platinum moved sharply higher today by $13.20 to close at $1,453.00 an ounce and Copper closed higher by $0.03 today at $3.51 per pound.
On the Livestock and Meat Markets, the trend was lower across the board today: Lean Hogs ended the day lower by $0.63 to close at $56.28; Pork Bellies ended the day lower by $1.20 at $81.53; Live Cattle ended the day lower by $0.35 at $97.23 and Feeder Cattle ended the day lower by $0.83 at $110.75.
Other Commodities: Corn moved lower today by $3.50 to close at $361.00 and Soybeans moved higher today by $5.50 to end the session at $999.25.
Bonds were mostly higher across the board today: 2 year bond moved higher by 2/32 today to close at 100 10/32; 5 year bond moved higher by 4/32 to close at 100 2/732 today; 10 year bond moved higher by 2/32 today to close at 102 22/32 and the 30 year bond closed lower by 2/32 at 104 26/32 for the day.
The e-mini Dow ended the session today at 13,675 with a gain of 65 points on the trading session. The total Dow Exchange Volume for the day came in at 248,234 which are comprised of Electronic, Open Auction and Cash Exchange. Traders should review workshops available at the CBOT (Chicago Board of Trade) Educational in-person seminars schedules available on CBOT (Chicago Board of Trade) website.
The end of day results for the CBOT (Chicago Board of Trade) which is comprised of the total Exchange Volume for Futures and Options (EVFO) including Electronic, Open Auction and Cash Exchange ended the day at 4,171,168; Open Interest for Futures moved lower by 8,656 points to close at 9,588,429; the Open Interest for Options moved higher by 56,020 points to close at 9,051,498 and the Cleared Only closed higher by 283 points at 9,600 for a total Open Interest on the day of 18,649,527 for a total Change on the day with a gain of 47,647 points.
On the NYSE today, advancers came in at 2,226 decliners totaled 1,059 unchanged came in at 94; new highs came in at 76 and new lows came in at 109. Gainers and losers for the day as well as active day trading stocks on the NYSE: CME Group Incorporated (CME) roared higher on the trading session by 15.90 points with a high on the session of $637.27, a low of $620.36 with a final trading price at $634.60; FTSE/Xinhua China (FXI) moved nicely higher on the day for a gain of 8.54 points with a high on the day of $210.74, a low of $204.95 for a final trading price at the bell of $210.04; Rio Tinto plc (RTP) romped higher on the session for a nice gain of 14.36 points with a high on the trading day of $348.66, a low of $340.00 for a closing price at the high of the day at $347.66; Uniao de Bancos Brasileiros (UBB) bolted higher by 7.51 points with a high on the day of $147.28, a low of $141.75 for a closing price at $145.91 and CNH Global N.V. (CNH) moved higher on the day for a gain of 10.99% to tack on 6.24 points for a closing price of $63.04.
On the NASDAQ today, advanced totaled 1,794; decliners totaled 1,159; unchanged came in at 149; new highs came in at 85 and new lows came in at 103. Gainers and losers for the day as well as, active day trading stocks on the NASDAQ: Apple Incorporated (AAPL) posted a nice gain of 11.80 points with a final trading price of $186.16; Research in Motion Limited (RIMM) posted a gain of 11.15 points with a high on the day of $128.36, a low of $114.00 for a final trading price at $124.53; Waste Industries USA Incorporated (WWIN) roared higher on the session with a gain of 7.28 points to climb higher by 25.57% with a final trading price at $35.75; Millicom International Cellular (MICC) soared higher on the day amidst active day trading with a high of $36.40, a low of $28.59 for a sharp gain of 21.32% to tack on 18.49 points with a final trading price at $105.20; Global Sources Limited (GSOL) tacked on a whopping 21.23% for a gain of 6.51 points with a high of $37.70, a low of $31.55 for a final trading price at $37.18; Columbus McKinnon Corporation (CMCO) moved nicely higher by 17.42% for a gain of 4.48 points for a final trading price of $30.20; Google Incorporated (GOOG) tore up the market with a strong gain of 25.02 points for a high on the session of $677.60, a low of $660.00 for a final trading price at $675.77 and Baidu.com Incorporated (BIDU) took a nice piece of action of the market session with a gain of 33.64 points to tack on a gain of 10.64% with a high on the day of $349.98, a low of $323.79 for a closing price at the bell of $349.90.
Thanks for reading
Millennium-Traders.Com (http://www.millennium-traders.com)
To view additional Daily Market Commentary's Click Here (http://www.millennium-traders.com/news/newscommentary.aspx)