MTdailynews
11-16-2007, 07:11 PM
As we put the raps on the end of this week, just ahead of the Thanksgiving Day holiday coming up next week, we saw quite a variety of volatility during the trading session. Trading volume was moderate to heavy however; the Bulls and Bears were in a tug of war throughout the entire trading day. We can expect trading volume to be light in the upcoming market sessions as many traders head out on their holiday travels to see family and friends for Thanksgiving. With a shortened trading week ahead of us, it may be a very quiet week of trading. At the end of the session, the Bulls were mainly in control with a majority of the major indices ending the week in positive territory.
At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a gain of 65.52 points on the day to end the session at 13,175.57; the NYSE (New York Stock Exchange) posted a gain of 48.86 points to end the session at 9,701.38; the NASDAQ posted a gain of 18.73 points for a close at 2,637.24; the S&P 500 moved higher by 7.59 points to end at 1,458.74 and the RUSSELL 2000 moved lower by 2.10 points to close at 769.50. 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 0.38 points to close at 262.40 and the FTSE RAFI 1000 posted a gain of 17.58 points to close at 5,967.00.
U.S. October Industrial Production fell 0.5% compared to consensus of an increase by 0.1%; U.S. October Capacity Utilization fell by 0.5% at 81.7% compared to consensus of 82.0%; U.S. September Industrial Production was revised to an increase by 0.2% from an increase by 0.1% and U.S. September Capacity Use was revised to 82.2% from 82.1%.
Net Foreign Buys of U.S. Equities $2.5 Billion USD in September; Net Foreign Buys of U.S. Corp Bonds $15.1 Billion USD in September; Net Foreign Buys of U.S. Agency Debt $11.5 Billion USD in September; Net Foreign Buys of U.S. Treasury Notes, Bonds $26.3 Billion USD in September and Net Foreign Capital Outflow to $14.7 Billion USD in September.
Member of the Federal Open Market Committee and President of the Federal Reserve Bank of St. Louis William Poole comments released today: casts doubt on need for more rate cuts; current forecast sees weak 4q, then rebound; calls current inflation 'low and stable'; optimistic credit troubles winding down; mortgage market trouble will take time to resolve; Fed must lead, not follow, markets on rate policy; large banks withstanding large losses; new forecasts should help markets divine Fed reactions and still does not expect recession.
Member of the Federal Open Market Committee Randall S. Kroszner comments released today: inflation expectations `reasonably` well anchored; current Fed stance should get economy through rough patch; sees fewer economic benefits from additional rate cuts; latest economic data consistent with balanced risks; expects more home foreclosures; further price drops; economic data may be 'downbeat' in near term; labor markets still relatively solid, exports strong; headline inflation up, core `more favorable`; energy, falling dollar increased inflation risk and inflation expectations `reasonably` well anchored.
Commodities Markets
The trend was higher across the board today for the Energy Sector: Light crude moved higher today by $1.67 to close at $95.10 a barrel; Heating Oil closed higher by $0.03 today at $2.60 a gallon; Natural Gas moved higher today by $0.27 to close at $8.35 per million BTU and Unleaded Gas moved higher today by $0.04 to close at $2.38 a gallon.
Metals Market ended the session mostly higher across the board today: Gold moved lower today by $0.30 to close at $787.00 an ounce; Silver moved higher by $0.03 to close at $14.51 per ounce; Platinum moved sharply higher today by $27.80 to close at $1,453.20 an ounce and Copper moved higher by $0.08 to close at $3.20 per pound.
On the Livestock and Meat Markets, the trend was lower across the board today: Lean Hogs ended the day lower by $0.50 to close at $60.40; Pork Bellies ended the day lower by $0.58 at $90.68; Live Cattle ended the day lower by $0.05 at $97.90 and Feeder Cattle ended the day lower by $0.20 at $109.13.
Other Commodities: Corn moved higher today by $4.72 to close at $396.50 and Soybeans moved lower today by $1.00 to end the session at $1,077.75.
Bonds were lower across the board today: 2 year bond moved lower by 1/32 to close at 100 16/32; 5 year bond moved lower by 3/32 to close at 100 25/32 today; 10 year bond moved lower by 5/32 at 100 21/32 and the 30 year bond closed lower by 2/32 at 107 18/32 for the day.
The e-mini Dow ended the session today at 13,198 with a gain of 38 points on the trading session. The total Dow Exchange Volume for the day came in at 258,189 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 5,174,589; Open Interest for Futures moved higher by 32,394 points to close at 10,198,955; the Open Interest for Options moved higher by 64,504 points to close at 9,505,739 and the Cleared Only moved higher by 486 points to close at 14,690 for a total Open Interest on the day of 19,719,384 for a total Change on the day with a gain of 97,384 points.
On the NYSE today, advancers came in at 1,452; decliners totaled 1,816; unchanged came in at 103; new highs came in at 35 and new lows came in at 422. Active trading stocks on the Big Board today: China Digital TV Holding Company Incorporated (STV) shed 6.45 points for a loss on the day of 16.71% with a high on the session of $34.60, a low of $31.50 for a final trading price of $32.14; FedEx Corporation (FDX) moved lower on the session to post a loss of 4.57 points with a closing price at $96.80; Petroleo Brasileiro (PBR) tacked on 5.99 points for the day with a final trading price at $105.77 and Salesforce.com Incorporated (CRM) posted a nice gain on the session of 6.56 points with a high on the trading day of $57.40, a low of $48.27 for a closing price at the bell of $57.35.
On the NASDAQ today, advanced totaled 1,359; decliners totaled 1,602; unchanged came in at 144; new highs came in at 20 and new lows came in at 236. Active trading stocks for the day consisted of: Garmin Limited (GRMN) bolted higher amidst a very active trading session for a gain of 13.51 points with a high on the trading session of $102.08, a low of $93.57 for a final trading price at the close of $97.51; The9 Limited Corporation (NCTY) tumbled lower on the trading session to post a loss of 10.12 points on the day to shed 31.97% with a high on the session of $26.99, a low of $20.75 for a final trading price of $21.53; Research In Motion Limited (RIMM) tacked on 4.56 points on the day with a high on the session of $108.15, a low of $96.80 for a final trading price at $107.57 and Coley Pharmaceutical Group Incorporated (COLY) bolted higher on the day for a gain of 160.33% to tack on 4.81 points with a closing price at the bell of $7.81.
At the close of the week, performance results for our Moderators:
Stocks Trading Room:
Jeannie - $7,487
Barry - $25,392
Anni - $33,518
Futures Trading Room:
JT - $8,099.25
Forex Trading Room:
JT - $8,550
Daily Swing Trades:
Barry - $40,610
Weekly Swing Trades:
Jeannie - $6,360
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)
At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a gain of 65.52 points on the day to end the session at 13,175.57; the NYSE (New York Stock Exchange) posted a gain of 48.86 points to end the session at 9,701.38; the NASDAQ posted a gain of 18.73 points for a close at 2,637.24; the S&P 500 moved higher by 7.59 points to end at 1,458.74 and the RUSSELL 2000 moved lower by 2.10 points to close at 769.50. 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 0.38 points to close at 262.40 and the FTSE RAFI 1000 posted a gain of 17.58 points to close at 5,967.00.
U.S. October Industrial Production fell 0.5% compared to consensus of an increase by 0.1%; U.S. October Capacity Utilization fell by 0.5% at 81.7% compared to consensus of 82.0%; U.S. September Industrial Production was revised to an increase by 0.2% from an increase by 0.1% and U.S. September Capacity Use was revised to 82.2% from 82.1%.
Net Foreign Buys of U.S. Equities $2.5 Billion USD in September; Net Foreign Buys of U.S. Corp Bonds $15.1 Billion USD in September; Net Foreign Buys of U.S. Agency Debt $11.5 Billion USD in September; Net Foreign Buys of U.S. Treasury Notes, Bonds $26.3 Billion USD in September and Net Foreign Capital Outflow to $14.7 Billion USD in September.
Member of the Federal Open Market Committee and President of the Federal Reserve Bank of St. Louis William Poole comments released today: casts doubt on need for more rate cuts; current forecast sees weak 4q, then rebound; calls current inflation 'low and stable'; optimistic credit troubles winding down; mortgage market trouble will take time to resolve; Fed must lead, not follow, markets on rate policy; large banks withstanding large losses; new forecasts should help markets divine Fed reactions and still does not expect recession.
Member of the Federal Open Market Committee Randall S. Kroszner comments released today: inflation expectations `reasonably` well anchored; current Fed stance should get economy through rough patch; sees fewer economic benefits from additional rate cuts; latest economic data consistent with balanced risks; expects more home foreclosures; further price drops; economic data may be 'downbeat' in near term; labor markets still relatively solid, exports strong; headline inflation up, core `more favorable`; energy, falling dollar increased inflation risk and inflation expectations `reasonably` well anchored.
Commodities Markets
The trend was higher across the board today for the Energy Sector: Light crude moved higher today by $1.67 to close at $95.10 a barrel; Heating Oil closed higher by $0.03 today at $2.60 a gallon; Natural Gas moved higher today by $0.27 to close at $8.35 per million BTU and Unleaded Gas moved higher today by $0.04 to close at $2.38 a gallon.
Metals Market ended the session mostly higher across the board today: Gold moved lower today by $0.30 to close at $787.00 an ounce; Silver moved higher by $0.03 to close at $14.51 per ounce; Platinum moved sharply higher today by $27.80 to close at $1,453.20 an ounce and Copper moved higher by $0.08 to close at $3.20 per pound.
On the Livestock and Meat Markets, the trend was lower across the board today: Lean Hogs ended the day lower by $0.50 to close at $60.40; Pork Bellies ended the day lower by $0.58 at $90.68; Live Cattle ended the day lower by $0.05 at $97.90 and Feeder Cattle ended the day lower by $0.20 at $109.13.
Other Commodities: Corn moved higher today by $4.72 to close at $396.50 and Soybeans moved lower today by $1.00 to end the session at $1,077.75.
Bonds were lower across the board today: 2 year bond moved lower by 1/32 to close at 100 16/32; 5 year bond moved lower by 3/32 to close at 100 25/32 today; 10 year bond moved lower by 5/32 at 100 21/32 and the 30 year bond closed lower by 2/32 at 107 18/32 for the day.
The e-mini Dow ended the session today at 13,198 with a gain of 38 points on the trading session. The total Dow Exchange Volume for the day came in at 258,189 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 5,174,589; Open Interest for Futures moved higher by 32,394 points to close at 10,198,955; the Open Interest for Options moved higher by 64,504 points to close at 9,505,739 and the Cleared Only moved higher by 486 points to close at 14,690 for a total Open Interest on the day of 19,719,384 for a total Change on the day with a gain of 97,384 points.
On the NYSE today, advancers came in at 1,452; decliners totaled 1,816; unchanged came in at 103; new highs came in at 35 and new lows came in at 422. Active trading stocks on the Big Board today: China Digital TV Holding Company Incorporated (STV) shed 6.45 points for a loss on the day of 16.71% with a high on the session of $34.60, a low of $31.50 for a final trading price of $32.14; FedEx Corporation (FDX) moved lower on the session to post a loss of 4.57 points with a closing price at $96.80; Petroleo Brasileiro (PBR) tacked on 5.99 points for the day with a final trading price at $105.77 and Salesforce.com Incorporated (CRM) posted a nice gain on the session of 6.56 points with a high on the trading day of $57.40, a low of $48.27 for a closing price at the bell of $57.35.
On the NASDAQ today, advanced totaled 1,359; decliners totaled 1,602; unchanged came in at 144; new highs came in at 20 and new lows came in at 236. Active trading stocks for the day consisted of: Garmin Limited (GRMN) bolted higher amidst a very active trading session for a gain of 13.51 points with a high on the trading session of $102.08, a low of $93.57 for a final trading price at the close of $97.51; The9 Limited Corporation (NCTY) tumbled lower on the trading session to post a loss of 10.12 points on the day to shed 31.97% with a high on the session of $26.99, a low of $20.75 for a final trading price of $21.53; Research In Motion Limited (RIMM) tacked on 4.56 points on the day with a high on the session of $108.15, a low of $96.80 for a final trading price at $107.57 and Coley Pharmaceutical Group Incorporated (COLY) bolted higher on the day for a gain of 160.33% to tack on 4.81 points with a closing price at the bell of $7.81.
At the close of the week, performance results for our Moderators:
Stocks Trading Room:
Jeannie - $7,487
Barry - $25,392
Anni - $33,518
Futures Trading Room:
JT - $8,099.25
Forex Trading Room:
JT - $8,550
Daily Swing Trades:
Barry - $40,610
Weekly Swing Trades:
Jeannie - $6,360
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)