Daily Market Commentary for February 14 2008 Millennium-Traders.Com
At the closing bell on the Stock Exchange here is how the major indices ended the session on the U.S. Markets:
DOW (Dow J Industrial Average) triple digit loss of 175.26 points on the day to end the session at 12376.98
NYSE (New York Stock Exchange) triple digit loss of 105.07 points to end the session at 8968.41
NASDAQ loss of 41.39 points for a close at 2332.54
S&P 500 loss of 18.35 points for a close at 1348.86
RUSSELL 2000 loss of 16.61 points to close at 705.32
FTSE All-World ex-U.S. loss of 0.24 points to close at 240.08
FTSE RAFI 1000 loss of 73.88 points to close at 5540.28
BEL 20 gain of 47.92 points to close at 3761.88
CAC 40 gain of 3.25 points to close at 4858.65
FTSE100 loss of 0.8 points to close at 5879.30
NIKKEI 225 gain of 558.2 points to close at 13626.50
On the NYSE today advancers came in at 713 decliners totaled 2466; unchanged came in at 69; new highs came in at 34 new lows came in at 54. Momentum stocks traded by active Day Traders on the NYSE today: CME Group Incorporated (CME) shed 4.06 points with a high on the day of $542.80 a low of $527.49 for a closing price at $530.95; Petroleo Brasileiro (PBR) shed 1.92 points with a high on the day of $118.48 a low of $114.86 for a closing price at $115.23; Transocean Incorporated (RIG) shed 1.62 points with a high on the day of $132.99 a low of $129.00 for a closing price at $129.67; Mastercard Incorporated (MA) shed 2.53 points with a high on the day of $205.50 a low of $197.12 for a closing price at $202.23; UBS AG (UBS) shed 3.05 points with a high on the day of $34.83 a low of $33.61 for a closing price at $33.94; Genco Shipping & Trading Limited (GNK) gained 1.63 points with a high on the day of $60.04 a low of $55.50 for a closing price at $56.72; DaVita Incorporated (DVA) shed 3.69 points with a high on the day of $52.17 a low of $48.94 for a closing price at $50.50; BlackRock Incorporated (BLK) shed 7.35 points with a high on the day of $209.06 a low of $198.07 for a closing price at $198.63; Freeport-McMoRan Copper & Gold Incorporated (FCX) shed 1.86 points with a high on the day of $95.24 a low of $91.25 for a closing price at $92.30; Monsanto Corporation (MON) gained 2.00 points with a high on the day of $117.86 a low of $114.90 for a closing price at $116.01; Energizer Holdings Incorporated (ENR) gained 1.35 points with a high on the day of $94.49 a low of $91.68 for a closing price at $93.09; Clear Channel Communications Incorporated (CCU) gained 0.64 points with a high on the day of $31.93 a low of $28.44 for a closing price at $30.13; Mosaic Corporation (MOS) shed 3.39 points with a high on the day of $105.24 a low of $101.34 for a closing price at $103.43; ITT Educational Services Incorporated (ESI) shed 6.23 points with a high on the day of $76.32 a low of $67.87 for a closing price at $70.00.
On the NASDAQ today advanced totaled 770; decliners totaled 2130; unchanged came in at 129; new highs came in at 28 new lows came in at 109. Momentum stocks traded by active Day Traders on the NASDAQ today: First Solar Incorporated (FSLR) shed 4.35 points with a high on the day of $236.57 a low of $221.50 for a closing price at $224.11; Equinix Incorporated (EQIX) gained 4.40 points with a high on the day of $81.49 a low of $76.97 for a closing price at $77.15; Apple Incorporated (AAPL) shed 1.94 points with a high on the day of $130.80 a low of $127.01 for a closing price at $127.46; Apollo Group Incorporated (APOL) shed 5.53 points with a high on the day of $74.09 a low of $68.09 for a closing price at $68.30; Genzyme Corporation (GENZ) shed 2.60 points with a high on the day of $75.58 a low of $71.79 for a closing price at $72.70; NVIDIA Corporation (NVDA) shed 4.41 points with a high on the day of $26.25 a low of $22.55 for a closing price at $22.61; Capella Education Corporation (CPLA) shed 6.21 points with a high on the day of $59.11 a low of $53.84 for a closing price at $55.14; Netgear Incorporated (NTGR) shed 5.28 points with a high on the day of $24.49 a low of $21.52 for a closing price at $21.59; Allscripts Healthcare Solutions Incorporated (MDRX) shed 4.12 points with a high on the day of $11.73 a low of $10.76 for a closing price at $11.27; SunPower Corporation (SPWR) gained 0.55 points with a high on the day of $85.95 a low of $79.57 for a closing price at $80.67; Baidu.com Incorporated (BIDU) gained 3.41 points with a high on the day of $280.44 a low of $259.65 for a closing price at $264.50; DryShips Incorporated (DRYS) shed 2.05 points with a high on the day of $86.70 a low of $82.30 for a closing price at $84.25; Google Incorporated (GOOG) shed 2.37 points with a high on the day of $541.04 a low of $531.00 for a closing price at $531.00.
Chman of the Federal Reserve Board of Governors Ben S. Bernanke: Fiscal Stimulus to Support Spending in 2H 2009; Sees 'Sluggish' Growth but Pickup in Late 2008; Fed has Moved 'Aggressively' on Monetary Policy; Sees 'Improving Picture' for Economy but Downside Risks; Downside Risks Housing Labor & Credit Markets; Fed Will Act in 'Timely' Manner if Needed; Policy Moves Depend on Medium-Term Forecast; Inflation Should Moderate Expectations Anchored; Fed's Task Harder if Price Expectations Rise; More Homebuilding Cutbacks Likely; Labor Markets Have Softened; Should Restrain Spending; Underlying Quality of Munis Student Loans Good; Sees Economic Growth Weak but Still Positive in 1H; Still Sees Systemic Risks GSEs; Dollar Hits Intra-Day Low versus Euro as Bernanke Speaks; Likely to be Additional Subprime Write downs by Banks; No Imminent Risk of Bank Insolvencies; Entitlements are Main Longer-Term Budget Issue; Stimulus Package may affect 2Q or 3Q GDP Growth; Upcoming Fed Forecasts To Show Lower GDP Forecasts; U.S. not far Full Employment Rates; Looking for Stability in Housing Labor Credit Markets; Most Americans Paying Mortgages on time; Any New Erosion in Credit Markets Would be Warning Bell.
President Federal Reserve Bank of Chicago Charles L. Evans: Much of 1Q Economic Data have Disappointed; Inflation Should Moderate Next Two Years; Core Inflation Higher than Desirable; Fiscal Stimulus Bill to Boost Spending in 2H 2008; Economic Growth to be at or Above Potential in 2009; Economic Growth seen near Potential by Late 2008; Real GDP to Rise at Sluggish Rate in 1H 2008; Current Fed Funds Rate should Support Growth; U.S. Economy Faces Substantial Headwinds; Despite Improvements Credit Conditions still Strained; Financial Market Liquidity Pressures have Receded.
U.S. Trade Deficit for all of 2007 $711.6B versus 2006 $758.5B; December Exports $144.32B +1.5%; December Imports $203.08B lower by 1.1%; U.S. December Trade Deficit $58.76B compared to Consensus Deficit $61.70B; November Trade Balance unrevised at Deficit $63.12B.
U.S. Jobless Claims fell by 9K to 348K in week of February 9 compared to survey of a drop by 6K; U.S. Continuing Claims for week of February 2 Week fell 9000K to 2761000; U.S. Jobless Claims for week of February 2 Week revised to 357K 356K.
Commodities Markets
The trend was higher across the board today for the Energy Sector: Light crude moved higher today by $1.31 to close at $94.58 a barrel; Heating Oil moved higher today by $0.02 to close at $2.64 a gallon; Natural Gas moved higher today by $0.39 to close at $8.82 per million BTU Unleaded Gas moved higher today by $0.05 to close at $2.44 a gallon.
Metals Markets ended the session mixed across the board today: Gold moved higher today by $0.80 to close at $911.00 a Troy ounce; Silver moved lower today by $0.10 to close at $17.26 per Troy ounce; Platinum moved nicely higher today by $22.20 to close at $2005.90 per Troy ounce Copper closed lower by $0.04 to close at $3.50 per pound.
On the Livestock Meat Markets the trend was mixed across the board today: Lean Hogs ended the day higher by $0.15 to close at $64.30; Pork Bellies ended the day lower by $2.38 to close at $92.00; Live Cattle ended the day higher by $0.05 to close at $94.08 Feeder Cattle ended the day lower by $0.53 at $104.43.
Other Commodities: Corn ended the day nicely higher by $13.00 at $523.25 Soybeans moved sharply higher today by $839.00 to end the session at $1386.00.
Bonds were mostly lower across the board today: 2 year bond moved higher by 1/32 to close at 100 14/32; 5 year bond moved lower by 6/32 to close at 100 15/32 today; 10 year bond moved lower by 24/32 to close at 97 11/32 the 30 year bond moved lower by 1 25/32 to close at 95 19/32 on the day.
The e-mini Dow ended the session today at 12395 with a loss of 130 points on the trading session. The total Dow Exchange Volume for the day came in at 177753 which are comprised of Electronic Open Auction 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 Options (EVFO) including Electronic Open Auction Cash Exchange ended the day at 4471291; Open Interest for Futures moved higher by 58023 points to close at 10736132; the Open Interest for Options moved higher by 76683 points to close at 10300245 the Cleared Only closed higher by 550 points to close at 25304 for a total Open Interest on the day of 21061681 for a total Change on the day with a gain of 135256 points.
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