Market Commentary for January 18, 2008
At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a loss of 59.91 points on the day to end the session at 12,099.30; the NYSE (New York Stock Exchange) posted a loss of 22.61 points to end the session at 8,796.34; the NASDAQ posted a loss of 6.88 points for a close at 2,340.02; the S&P 500 posted a loss of 8.06 points for a close at 1,325.19 and the RUSSELL 2000 moved lower by 7.41 points to close at 673.16. 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 0.67 points to close at 239.19 and the FTSE RAFI 1000 posted a loss of 31.04 points to close at 5,387.75.
On the NYSE today, advancers came in at 1,146; decliners totaled 2,043; unchanged came in at 75; new highs came in at 8 and new lows came in at 556. Momentum stocks traded by active Day Traders on the NYSE today: Rio Tinto plc (RTP) gained 23.98 points with a high on the day of $376.39, a low of $355.68 for a closing price at $367.50; CME Group, Incorporated (CME) gained 13.67 points with a high on the day of $563.20, a low of $544.00 for a closing price at $558.40; Petroleo Brasileiro (PBR) gained 1.81 points with a high on the day of $95.62, a low of $90.68 for a closing price at $94.37; MBIA Incorporated (MBI) shed 0.67 points with a high on the day of $9.00, a low of $6.75 for a closing price at $8.55; Mosaic Corporation (MOS) shed 0.98 points with a high on the day of $84.27, a low of $78.03 for a closing price at $80.02; iShares FTSE/Xinhua China 25 Index (FXI) gained 7.92 points with a high on the day of $157.93, a low of $151.58 for a closing price at $156.94; Schlumberger Limited (SLB) shed 2.99 points with a high on the day of $80.25, a low of $72.30 for a closing price at $79.52; Monsanto Corporation (MON) gained 6.14 points with a high on the day of $106.35, a low of $99.05 for a closing price at $105.75; Potash Corp. of Saskatchewan, Incorporated (POT) gained 2.54 points with a high on the day of $126.74, a low of $117.31 for a closing price at $122.78; Terra Nitrogen Company, Limited Partnership (TNH) gained 5.03 points with a high on the day of $137.40, a low of $125.46 for a closing price at $128.93; Alliance Data Systems Corporation (ADS) gained 9.11 points with a high on the day of $62.73, a low of $54.42 for a closing price at $61.93; Under Armour, Incorporated (UA) shed 9.05 points with a high on the day of $31.04, a low of $26.49 for a closing price at $28.01; Icahn Enterprises, Limited Partnership (IEP) shed 14.50 points with a high on the day of $120.88, a low of $96.81 for a closing price at $104.85; MetLife, Incorporated (MET) shed 0.83 points with a high on the day of $59.00, a low of $54.77 for a closing price at $59.00; InterContinental Exchange, Incorporated (ICE) gained 7.65 points with a high on the day of $139.80, a low of $133.10 for a closing price at $138.60; Transocean, Incorporated (RIG) gained 2.63 points with a high on the day of $128.95, a low of $122.81 for a closing price at $128.41; Covidien Limited (COV) shed 1.97 points with a high on the day of $46.00, a low of $42.99 for a closing price at $43.38.
On the NASDAQ today, advanced totaled 1,093; decliners totaled 1,950; unchanged came in at 113; new highs came in at 9 and new lows came in at 547. Momentum stocks traded by active Day Traders on the NASDAQ today: First Solar Incorporated (FSLR) gained 8.68 points with a high on the day of $180.92, a low of $166.79 for a closing price at $175.88; Baidu.com Incorporated (BIDU) gained 8.05 points with a high on the day of $273.67, a low of $252.29 for a closing price at $273.04; JA Solar Holdings Corporation Limited (JASO) gained 0.24 points with a high on the day of $59.88, a low of $54.28 for a closing price at $56.30; ATP Oil & Gas Corporation (ATPG) shed 5.40 points with a high on the day of $44.10, a low of $40.52 for a closing price at $41.45.
Federal Reserve Bank of Richmond President Jeffrey Lacker comments today: Stimulus Plans can Speed Economy's Recovery; Fed Pays a lot of Attention to the Dollar; Lower Dollar Provides Some Inflation Boost; Recent Data Make it Easier to Contemplate Easing; Hard for Fiscal Stimulus to Counteract Slowdown; Not Worried About Overshooting on Rate Cuts; Need to Hold Down Overall Inflation, Not Just Core; 'Uncomfortable' With Inflation Trends; Home Building 'Unlikely to Bottom Out This Year'; Econ Growth to be 'Very Weak' for Several Months; Business Spending Slowdown Could up Recession Odds; Further Easing 'Quite Possible'.
U.S. Conference Board: December Lagging Index rose 0.4%; U.S. Conference Board: December Coincident Index rose 0.1%; U.S. Conference Board: December Leading Index fell 0.2%.
University of Michigan Mid-January Expectations came in at 69.1 compared to December reading at 65.6; University of Michigan Mid-January Current Index came in at98.1 compared to December reading at 91.0; University of Michigan Mid-January Sentiment came in at 80.5 compared to December reading at 75.5; University of Michigan 12-Month Inflation Forecast rose 3.4% compared to December reading of an increase by of 3.4%; University of Michigan 5-Year Inflation Forecast rose 3.0% compared to December reading of an increase by of 3.1%.
Treasury Secretary Henry M. Paulson, Jr. commented today: U.S. Stimulus Plan Will Be Robust, Temporary; Opposes Moratorium on Foreclosures; Stimulus Plan to Get Money into Economy this Year; U.S. Economy to Grow Slowly; Biggest Portion of Stimulus Should be Aimed at Consumers.
President George W. Bush released details on his Economic Stimulus Package today: U.S. Will be "Just Fine" if Congress Passes Stimulus Bill; Bush to Propose 1-Time Tax Rebates in Stimulus Package; Continued Housing Slowdown Threatens Economic Growth; Economic Growth Package Needed as Soon as Possible; Stimulus Package Should be Around 1% of GDP; Stimulus Must be Temporary, Take Effect Right Away; Stimulus Should Bolster Business Investment, Consumer Spending; Package Must Include Tax Incentives for Business; Bush Calls for Direct, Rapid Tax Relief for Individuals; Stimulus can be Approved With Bipartisan Support; Stimulus is "Most Pressing" Economic Priority; Repeats Call to Make 2001, 2003 Tax Cuts Permanent; Potential Costs of not Enacting Stimulus too High.
Commodities Markets
The trend was mostly higher across the board today for the Energy Sector: Light crude moved higher today by $0.01 to close at $90.14 a barrel; Heating Oil moved higher today by $0.03 to close at $2.52 a gallon; Natural Gas moved lower today by $0.04 to close at $7.98 per million BTU and Unleaded Gas moved higher today by $0.03 to close at $2.29 a gallon.
Metals Markets ended the session mostly higher across the board today: Gold moved higher today by $1.10 to close at $881.60 a Troy ounce; Silver moved higher today by $0.21 to close at $16.22 per Troy ounce; Platinum moved lower today by $0.30 to close at $1,565.50 per Troy ounce and Copper moved higher by $0.05 today to close at $3.23 per pound.
On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs ended the day lower by $0.13 to close at $62.43; Pork Bellies ended the day with no change at $84.20; Live Cattle ended the day higher by $0.43 at $94.25 and Feeder Cattle ended the day higher by $1.00 at $102.30.
Other Commodities: Corn ended the day lower today by $3.75 at $498.50 and Soybeans moved lower today by $7.00 to end the session at $1,266.00.
Bonds were mixed across the board today: 2 year bond moved higher by 3/32 to close at 101 22/32; 5 year bond moved higher by 4/32 to close at 103 18/32 today; 10 year bond moved lower by 1/32 to close at 105 3/32 and the 30 year bond moved lower by 25/32 to close at 111 29/32 on the day.
The e-mini Dow ended the session today at 12,073 with a loss of 143 points on the trading session. The total Dow Exchange Volume for the day came in at 286,555 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 5,253,936; Open Interest for Futures moved higher by 186,242 points to close at 10,238,699; the Open Interest for Options moved higher by 386,370 points to close at 8,793,583 and the Cleared Only closed higher by 105 points to close at 21,723 for a total Open Interest on the day of 19,054,005 for a total Change on the day with a gain of 572,717 points.
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Millennium-Traders
On the NYSE today, advancers came in at 1,146; decliners totaled 2,043; unchanged came in at 75; new highs came in at 8 and new lows came in at 556. Momentum stocks traded by active Day Traders on the NYSE today: Rio Tinto plc (RTP) gained 23.98 points with a high on the day of $376.39, a low of $355.68 for a closing price at $367.50; CME Group, Incorporated (CME) gained 13.67 points with a high on the day of $563.20, a low of $544.00 for a closing price at $558.40; Petroleo Brasileiro (PBR) gained 1.81 points with a high on the day of $95.62, a low of $90.68 for a closing price at $94.37; MBIA Incorporated (MBI) shed 0.67 points with a high on the day of $9.00, a low of $6.75 for a closing price at $8.55; Mosaic Corporation (MOS) shed 0.98 points with a high on the day of $84.27, a low of $78.03 for a closing price at $80.02; iShares FTSE/Xinhua China 25 Index (FXI) gained 7.92 points with a high on the day of $157.93, a low of $151.58 for a closing price at $156.94; Schlumberger Limited (SLB) shed 2.99 points with a high on the day of $80.25, a low of $72.30 for a closing price at $79.52; Monsanto Corporation (MON) gained 6.14 points with a high on the day of $106.35, a low of $99.05 for a closing price at $105.75; Potash Corp. of Saskatchewan, Incorporated (POT) gained 2.54 points with a high on the day of $126.74, a low of $117.31 for a closing price at $122.78; Terra Nitrogen Company, Limited Partnership (TNH) gained 5.03 points with a high on the day of $137.40, a low of $125.46 for a closing price at $128.93; Alliance Data Systems Corporation (ADS) gained 9.11 points with a high on the day of $62.73, a low of $54.42 for a closing price at $61.93; Under Armour, Incorporated (UA) shed 9.05 points with a high on the day of $31.04, a low of $26.49 for a closing price at $28.01; Icahn Enterprises, Limited Partnership (IEP) shed 14.50 points with a high on the day of $120.88, a low of $96.81 for a closing price at $104.85; MetLife, Incorporated (MET) shed 0.83 points with a high on the day of $59.00, a low of $54.77 for a closing price at $59.00; InterContinental Exchange, Incorporated (ICE) gained 7.65 points with a high on the day of $139.80, a low of $133.10 for a closing price at $138.60; Transocean, Incorporated (RIG) gained 2.63 points with a high on the day of $128.95, a low of $122.81 for a closing price at $128.41; Covidien Limited (COV) shed 1.97 points with a high on the day of $46.00, a low of $42.99 for a closing price at $43.38.
On the NASDAQ today, advanced totaled 1,093; decliners totaled 1,950; unchanged came in at 113; new highs came in at 9 and new lows came in at 547. Momentum stocks traded by active Day Traders on the NASDAQ today: First Solar Incorporated (FSLR) gained 8.68 points with a high on the day of $180.92, a low of $166.79 for a closing price at $175.88; Baidu.com Incorporated (BIDU) gained 8.05 points with a high on the day of $273.67, a low of $252.29 for a closing price at $273.04; JA Solar Holdings Corporation Limited (JASO) gained 0.24 points with a high on the day of $59.88, a low of $54.28 for a closing price at $56.30; ATP Oil & Gas Corporation (ATPG) shed 5.40 points with a high on the day of $44.10, a low of $40.52 for a closing price at $41.45.
Federal Reserve Bank of Richmond President Jeffrey Lacker comments today: Stimulus Plans can Speed Economy's Recovery; Fed Pays a lot of Attention to the Dollar; Lower Dollar Provides Some Inflation Boost; Recent Data Make it Easier to Contemplate Easing; Hard for Fiscal Stimulus to Counteract Slowdown; Not Worried About Overshooting on Rate Cuts; Need to Hold Down Overall Inflation, Not Just Core; 'Uncomfortable' With Inflation Trends; Home Building 'Unlikely to Bottom Out This Year'; Econ Growth to be 'Very Weak' for Several Months; Business Spending Slowdown Could up Recession Odds; Further Easing 'Quite Possible'.
U.S. Conference Board: December Lagging Index rose 0.4%; U.S. Conference Board: December Coincident Index rose 0.1%; U.S. Conference Board: December Leading Index fell 0.2%.
University of Michigan Mid-January Expectations came in at 69.1 compared to December reading at 65.6; University of Michigan Mid-January Current Index came in at98.1 compared to December reading at 91.0; University of Michigan Mid-January Sentiment came in at 80.5 compared to December reading at 75.5; University of Michigan 12-Month Inflation Forecast rose 3.4% compared to December reading of an increase by of 3.4%; University of Michigan 5-Year Inflation Forecast rose 3.0% compared to December reading of an increase by of 3.1%.
Treasury Secretary Henry M. Paulson, Jr. commented today: U.S. Stimulus Plan Will Be Robust, Temporary; Opposes Moratorium on Foreclosures; Stimulus Plan to Get Money into Economy this Year; U.S. Economy to Grow Slowly; Biggest Portion of Stimulus Should be Aimed at Consumers.
President George W. Bush released details on his Economic Stimulus Package today: U.S. Will be "Just Fine" if Congress Passes Stimulus Bill; Bush to Propose 1-Time Tax Rebates in Stimulus Package; Continued Housing Slowdown Threatens Economic Growth; Economic Growth Package Needed as Soon as Possible; Stimulus Package Should be Around 1% of GDP; Stimulus Must be Temporary, Take Effect Right Away; Stimulus Should Bolster Business Investment, Consumer Spending; Package Must Include Tax Incentives for Business; Bush Calls for Direct, Rapid Tax Relief for Individuals; Stimulus can be Approved With Bipartisan Support; Stimulus is "Most Pressing" Economic Priority; Repeats Call to Make 2001, 2003 Tax Cuts Permanent; Potential Costs of not Enacting Stimulus too High.
Commodities Markets
The trend was mostly higher across the board today for the Energy Sector: Light crude moved higher today by $0.01 to close at $90.14 a barrel; Heating Oil moved higher today by $0.03 to close at $2.52 a gallon; Natural Gas moved lower today by $0.04 to close at $7.98 per million BTU and Unleaded Gas moved higher today by $0.03 to close at $2.29 a gallon.
Metals Markets ended the session mostly higher across the board today: Gold moved higher today by $1.10 to close at $881.60 a Troy ounce; Silver moved higher today by $0.21 to close at $16.22 per Troy ounce; Platinum moved lower today by $0.30 to close at $1,565.50 per Troy ounce and Copper moved higher by $0.05 today to close at $3.23 per pound.
On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs ended the day lower by $0.13 to close at $62.43; Pork Bellies ended the day with no change at $84.20; Live Cattle ended the day higher by $0.43 at $94.25 and Feeder Cattle ended the day higher by $1.00 at $102.30.
Other Commodities: Corn ended the day lower today by $3.75 at $498.50 and Soybeans moved lower today by $7.00 to end the session at $1,266.00.
Bonds were mixed across the board today: 2 year bond moved higher by 3/32 to close at 101 22/32; 5 year bond moved higher by 4/32 to close at 103 18/32 today; 10 year bond moved lower by 1/32 to close at 105 3/32 and the 30 year bond moved lower by 25/32 to close at 111 29/32 on the day.
The e-mini Dow ended the session today at 12,073 with a loss of 143 points on the trading session. The total Dow Exchange Volume for the day came in at 286,555 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 5,253,936; Open Interest for Futures moved higher by 186,242 points to close at 10,238,699; the Open Interest for Options moved higher by 386,370 points to close at 8,793,583 and the Cleared Only closed higher by 105 points to close at 21,723 for a total Open Interest on the day of 19,054,005 for a total Change on the day with a gain of 572,717 points.
Thanks for reading
Millennium-Traders
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