MTdailynews
11-15-2007, 06:11 PM
The markets were simply in a mushy mood today with little direction and plenty of whip. Trading activity was very difficult for the active day trader, with many day traders pulling out of the market early to avoid the slow moving, unattractive trading action. The Bears controlled the trading activity today, with the major indices moving lower, during the final hour of trading. Comments were made today regarding the gloomy housing market that it has not been this bad since the Depression. Financial stocks continue to face negative action which added to the negative trading activity throughout the trading session. Trading volume was moderate at the closing bell.
At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a triple digit loss of 120.96 points on the day to end the session at 13,110.05; the NYSE (New York Stock Exchange) posted a triple digit loss of 156.63 points to end the session at 9,652.52; the NASDAQ posted a loss of 25.81 points for a close at 2,618.51; the S&P 500 moved lower by 19.43 points to end at 1,451.15 and the RUSSELL 2000 moved lower by 10.87 points to close at 771.60. 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 loss of 3.29 points to close at 263.45 and the FTSE RAFI 1000 posted a loss of 76.62 points to close at 5,949.42.
U.S. October Consumer Prices rose 0.3% compared to consensus of an increase by 0.3%; U.S. October CPI Excluding-Food & Energy rose 0.2% compared to consensus of an increase by 0.2%; U.S. October CPI Unrounded rose 0.293%; U.S. October CPI Core +rose 0.159%; U.S. October CPI Energy Prices rose 1.4% and U.S. October CPI Food Prices rose 0.3%.
U.S. Jobless Claims rose by 20K to 339K for week of November 10 compared to expectations of an increase by 3K and U.S. Real Average Weekly Earnings fell by 0.2% during October.
New York Fed's November Manufacturing Index came in at 27.37 versus reading of 28.75 in October; New York Fed's November New Orders came in at 24.49 versus reading of 24.97 in October; New York Fed's November Prices Received came in at 11.90 versus reading of 15.12 in October and New York Fed's November Employment came in at 10.63 versus reading of 20.51 in October.
Department of Energy released Petroleum Status Report today: U.S. Distillate Stockpiles fell by 2 Million Barrels in the week compared to expectations of a drop by 300,000 Barrels; U.S. Gasoline Stockpiles rose by 700,000 Barrels in the week compared to expectations of a drop by 100,000; U.S. Crude Oil Stockpiles rose by 2.8 Million Barrels in the week compared to expectations of a drop by 300,000 and U.S. Refineries ran at 87.7% capacity compared to expectations of an increase by 0.7% at 86.9%.
Philadelphia Fed Survey data released today: Philadelphia Fed November New Orders came in at 3.5 versus October reading of 2.7; Philadelphia Fed November Employment came in at 4.8 versus October reading of 12.6; Philadelphia Fed November Price Received came in at 18.6 versus October reading of 12.4; Philadelphia Fed November Business Index was expected to come in at 5.9; Philadelphia Fed November Price Paid came in at 37.7 versus October reading of 40.3 and Philadelphia Fed November Business Index came in at 8.2 versus October reading of 6.8.
President of Federal Reserve Bank of Kansas City and FOMC Board Member Thomas M Hoenig comments released today: Says U.S. economic outlook uncertain; housing has impacted consumer, housing related job market; global growth has helped support U.S. economy; more risk to GDP due to housing; sees real GDP around 2% and aware housing market could worsen further.
Commodities Markets
The trend was lower across the board today for the Energy Sector: Light crude moved lower today by $0.54 to close at $93.55 a barrel; Heating Oil closed lower by $0.02 today at $2.56 a gallon; Natural Gas moved lower today by $0.18 to close at $8.05 per million BTU and Unleaded Gas moved lower today by $0.03 to close at $2.34 a gallon.
Metals Market ended the session lower across the board today: Gold moved sharply lower today by $27.40 to close at $787.30 an ounce; Silver moved lower by $0.58 to close at $14.48 per ounce; Platinum moved sharply lower today by $20.70 to close at $1,425.40 an ounce and Copper moved lower by $0.21 to close at $3.12 per pound.
On the Livestock and Meat Markets, the trend was mostly higher across the board today: Lean Hogs ended the day higher by $0.25 to close at $60.90; Pork Bellies ended the day higher by $2.83 at $91.25; Live Cattle ended the day lower by $0.10 at $97.95 and Feeder Cattle ended the day higher by $0.35 at $109.33.
Other Commodities: Corn moved lower today by $8.25 to close at $391.75 and Soybeans moved lower today by $0.75 to end the session at $1,078.75.
Bonds were higher across the board today: 2 year bond moved higher by 9/32 to close at 100 16/32; 5 year bond moved higher by 18/32 to close at 100 25/32 today; 10 year bond moved higher by 26/32 at 100 24/32 and the 30 year bond closed higher by 1 4/32 at 107 19/32 for the day.
The e-mini Dow ended the session today at 13,136 with a loss of 139 points on the trading session. The total Dow Exchange Volume for the day came in at 211,095 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 4,024,154; Open Interest for Futures moved lower by 14,722 points to close at 10,166,561; the Open Interest for Options moved higher by 61,732 points to close at 9,441,235 and the Cleared Only moved higher by 100 points to close at 14,204 for a total Open Interest on the day of 19,622,000 for a total Change on the day with a gain of 47,110 points.
On the NYSE today, advancers came in at 717; decliners totaled 2,576; unchanged came in at 71; new highs came in at 31 and new lows came in at 306. Active trading stocks on the Big Board today: FTSE/Xinhua China (FXI) tumbled lower on the trading session to post a loss of 6.27 points with a high on the session of $185.27, a low of $179.27 for a closing price at $181.41; Potash Corporation Saskatchewan (POT) was quite active on the day with a loss of 7.31 points with a high on the session of $115.05, a low of $107.60 for a final trading price at the bell of $109.81; Rio Tinto plc (RTP) sunk lower on the day for a hefty loss of 17.14 points with a high on the day of $450.88, a low of $431.74 for a final trading price at $440.96; Goldman Sachs Group Incorporated (GS) took a tumble on the session today for a loss of 6.29 points with a high on the day of $223.69, a low of $223.74 for a final trading price at the bell of $227.02; PetroChina Company Limited (PTR) shed 6.36 points on the day with a high on the session of $195.00, a low of $188.68 for a final trading price at $192.72 and Bear Stearns Companies Incorporated (BSC) was active on the day with a high of $105.37, a low of $97.63 for a final trading price at $99.94.
On the NASDAQ today, advanced totaled 827; decliners totaled 2,144; unchanged came in at 137; new highs came in at 29 and new lows came in at 215. Active trading stocks for the day consisted of: Sina Corporation (SINA) moved lower on the trading session to post a loss of 2.69 points with a high on the trading day of $48.22, a low of $43.75 for a closing price at $46.81; Research In Motion Limited (RIMM) posted a loss on the day by 6.94 points with a high on the session of $110.49, a low of $100.50 for a final trading price at $103.01; New Abraxis Incorporated (ABII) soared higher today with a hefty gain of 21.60 points with a high on the session of $64.21, a low of $47.69 with a closing price at the bell of $59.75 and Google Incorporated (GOOG) moved sharply lower on the trading day with a loss of 12.03 points with a high on the session of $647.50, a low of $624.00 for a closing price at the bell of $629.65.
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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 loss of 120.96 points on the day to end the session at 13,110.05; the NYSE (New York Stock Exchange) posted a triple digit loss of 156.63 points to end the session at 9,652.52; the NASDAQ posted a loss of 25.81 points for a close at 2,618.51; the S&P 500 moved lower by 19.43 points to end at 1,451.15 and the RUSSELL 2000 moved lower by 10.87 points to close at 771.60. 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 loss of 3.29 points to close at 263.45 and the FTSE RAFI 1000 posted a loss of 76.62 points to close at 5,949.42.
U.S. October Consumer Prices rose 0.3% compared to consensus of an increase by 0.3%; U.S. October CPI Excluding-Food & Energy rose 0.2% compared to consensus of an increase by 0.2%; U.S. October CPI Unrounded rose 0.293%; U.S. October CPI Core +rose 0.159%; U.S. October CPI Energy Prices rose 1.4% and U.S. October CPI Food Prices rose 0.3%.
U.S. Jobless Claims rose by 20K to 339K for week of November 10 compared to expectations of an increase by 3K and U.S. Real Average Weekly Earnings fell by 0.2% during October.
New York Fed's November Manufacturing Index came in at 27.37 versus reading of 28.75 in October; New York Fed's November New Orders came in at 24.49 versus reading of 24.97 in October; New York Fed's November Prices Received came in at 11.90 versus reading of 15.12 in October and New York Fed's November Employment came in at 10.63 versus reading of 20.51 in October.
Department of Energy released Petroleum Status Report today: U.S. Distillate Stockpiles fell by 2 Million Barrels in the week compared to expectations of a drop by 300,000 Barrels; U.S. Gasoline Stockpiles rose by 700,000 Barrels in the week compared to expectations of a drop by 100,000; U.S. Crude Oil Stockpiles rose by 2.8 Million Barrels in the week compared to expectations of a drop by 300,000 and U.S. Refineries ran at 87.7% capacity compared to expectations of an increase by 0.7% at 86.9%.
Philadelphia Fed Survey data released today: Philadelphia Fed November New Orders came in at 3.5 versus October reading of 2.7; Philadelphia Fed November Employment came in at 4.8 versus October reading of 12.6; Philadelphia Fed November Price Received came in at 18.6 versus October reading of 12.4; Philadelphia Fed November Business Index was expected to come in at 5.9; Philadelphia Fed November Price Paid came in at 37.7 versus October reading of 40.3 and Philadelphia Fed November Business Index came in at 8.2 versus October reading of 6.8.
President of Federal Reserve Bank of Kansas City and FOMC Board Member Thomas M Hoenig comments released today: Says U.S. economic outlook uncertain; housing has impacted consumer, housing related job market; global growth has helped support U.S. economy; more risk to GDP due to housing; sees real GDP around 2% and aware housing market could worsen further.
Commodities Markets
The trend was lower across the board today for the Energy Sector: Light crude moved lower today by $0.54 to close at $93.55 a barrel; Heating Oil closed lower by $0.02 today at $2.56 a gallon; Natural Gas moved lower today by $0.18 to close at $8.05 per million BTU and Unleaded Gas moved lower today by $0.03 to close at $2.34 a gallon.
Metals Market ended the session lower across the board today: Gold moved sharply lower today by $27.40 to close at $787.30 an ounce; Silver moved lower by $0.58 to close at $14.48 per ounce; Platinum moved sharply lower today by $20.70 to close at $1,425.40 an ounce and Copper moved lower by $0.21 to close at $3.12 per pound.
On the Livestock and Meat Markets, the trend was mostly higher across the board today: Lean Hogs ended the day higher by $0.25 to close at $60.90; Pork Bellies ended the day higher by $2.83 at $91.25; Live Cattle ended the day lower by $0.10 at $97.95 and Feeder Cattle ended the day higher by $0.35 at $109.33.
Other Commodities: Corn moved lower today by $8.25 to close at $391.75 and Soybeans moved lower today by $0.75 to end the session at $1,078.75.
Bonds were higher across the board today: 2 year bond moved higher by 9/32 to close at 100 16/32; 5 year bond moved higher by 18/32 to close at 100 25/32 today; 10 year bond moved higher by 26/32 at 100 24/32 and the 30 year bond closed higher by 1 4/32 at 107 19/32 for the day.
The e-mini Dow ended the session today at 13,136 with a loss of 139 points on the trading session. The total Dow Exchange Volume for the day came in at 211,095 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 4,024,154; Open Interest for Futures moved lower by 14,722 points to close at 10,166,561; the Open Interest for Options moved higher by 61,732 points to close at 9,441,235 and the Cleared Only moved higher by 100 points to close at 14,204 for a total Open Interest on the day of 19,622,000 for a total Change on the day with a gain of 47,110 points.
On the NYSE today, advancers came in at 717; decliners totaled 2,576; unchanged came in at 71; new highs came in at 31 and new lows came in at 306. Active trading stocks on the Big Board today: FTSE/Xinhua China (FXI) tumbled lower on the trading session to post a loss of 6.27 points with a high on the session of $185.27, a low of $179.27 for a closing price at $181.41; Potash Corporation Saskatchewan (POT) was quite active on the day with a loss of 7.31 points with a high on the session of $115.05, a low of $107.60 for a final trading price at the bell of $109.81; Rio Tinto plc (RTP) sunk lower on the day for a hefty loss of 17.14 points with a high on the day of $450.88, a low of $431.74 for a final trading price at $440.96; Goldman Sachs Group Incorporated (GS) took a tumble on the session today for a loss of 6.29 points with a high on the day of $223.69, a low of $223.74 for a final trading price at the bell of $227.02; PetroChina Company Limited (PTR) shed 6.36 points on the day with a high on the session of $195.00, a low of $188.68 for a final trading price at $192.72 and Bear Stearns Companies Incorporated (BSC) was active on the day with a high of $105.37, a low of $97.63 for a final trading price at $99.94.
On the NASDAQ today, advanced totaled 827; decliners totaled 2,144; unchanged came in at 137; new highs came in at 29 and new lows came in at 215. Active trading stocks for the day consisted of: Sina Corporation (SINA) moved lower on the trading session to post a loss of 2.69 points with a high on the trading day of $48.22, a low of $43.75 for a closing price at $46.81; Research In Motion Limited (RIMM) posted a loss on the day by 6.94 points with a high on the session of $110.49, a low of $100.50 for a final trading price at $103.01; New Abraxis Incorporated (ABII) soared higher today with a hefty gain of 21.60 points with a high on the session of $64.21, a low of $47.69 with a closing price at the bell of $59.75 and Google Incorporated (GOOG) moved sharply lower on the trading day with a loss of 12.03 points with a high on the session of $647.50, a low of $624.00 for a closing price at the bell of $629.65.
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)