Daily Market Commentary for February 4 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 108.03 points on the day to end the session at 12635.16
NYSE (New York Stock Exchange) loss of 75.47 points to end the session at 9202.11
NASDAQ loss of 30.51 points for a close at 2382.85
S&P 500 loss of 14.60 points for a close at 1380.82
RUSSELL 2000 loss of 7.04 points to close at 723.46
FTSE Global Equity Index Series (GEIS) gain of 0.14 points to close at 245.95
FTSE RAFI 1000 loss of 60.14 points to close at 5685.20
BEL 20 gain of 0.02 points to close at 3809.65
CAC 40 loss of 4.42 points to close at $4973.64
FTSE100 gain of 3 points to close at 6026.20
NIKKEI 225 gain of 362.5 points to close at 13859.70
On the NYSE today advancers came in at 2494; decliners totaled 693; unchanged came in at 74; new highs came in at 58 new lows came in at 21. Momentum stocks traded by active Day Traders on the NYSE today: Dollar Thrifty Automotive Group Incorporated (DTG) shed 9.62 points with a high on the day of $18.10 a low of $16.27 for a closing price at $16.40; Capital One Financial Corporation (COF) shed 4.32 points with a high on the day of $55.56 a low of $52.17 for a closing price at $52.65; Potash Corp. of Saskatchewan Incorporated (POT) gained 3.00 points with a high on the day of $145.44 a low of $141.81 for a closing price at $145.00; Freeport-McMoRan Copper & Gold Incorporated (FCX) shed 0.92 points with a high on the day of $93.00 a low of $89.64 for a closing price at $91.18; Yingli Green Energy Holding Corporation Limited (YGE) gained 2.82 points with a high on the day of $24.73 a low of $21.51 for a closing price at $23.90; Oil Services HOLDRs (OIH) gained 2.91 points with a high on the day of $166.34 a low of $161.11 for a closing price at $164.76; Wachovia Corporation (WB) shed 3.23 points with a high on the day of $38.13 a low of $35.27 for a closing price at $35.53; CIT Group Incorporated (CIT) shed 3.03 points with a high on the day of $30.33 a low of $26.75 for a closing price at $27.65; Washington Mutual Incorporated (WM) shed 2.66 points with a high on the day of $21.78 a low of $18.91 for a closing price at $19.16; Thermo Fisher Scientific Incorporated (TMO) shed 1.28 points with a high on the day of $52.56 a low of $50.71 for a closing price at $51.10; Las Vegas Ss Corporation (LVS) shed 6.40 points with a high on the day of $88.00 a low of $81.09 for a closing price at $81.45; Goldman Sachs Group Incorporated (GS) shed 6.98 points with a high on the day of $208.00 a low of $199.20 for a closing price at $200.80; Royal Caribbean Cruises Limited (RCL) shed 2.68 points with a high on the day of $41.87 a low of $38.46 for a closing price at $39.18.
On the NASDAQ today advanced totaled 1997; decliners totaled 1000; unchanged came in at 121; new highs came in at 41 new lows came in at 84. Momentum stocks traded by active Day Traders on the NASDAQ today: Cerner Corporation (CERN) gained 1.70 points with a high on the day of $49.37 a low of $45.97 for a closing price at $48.73; MicroStrategy Incorporated (MSTR) shed 3.89 points with a high on the day of $69.60 a low of $64.25 for a closing price at $68.53; Baidu.com Incorporated (BIDU) gained 2.69 points with a high on the day of $284.49 a low of $266.61 for a closing price at $272.28; Google Incorporated (GOOG) shed 20.47 points with a high on the day of $512.78 a low of $492.55 for a closing price at $495.43; First Solar Incorporated (FSLR) gained 6.96 points with a high on the day of $198.09 a low of $183.90 for a closing price at $192.90; BE Aerospace Incorporated (BEAV) gained 1.30 points with a high on the day of $43.46 a low of $39.10 for a closing price at $43.14; Apple Incorporated (AAPL) shed 2.10 points with a high on the day of $135.90 a low of $131.42 for a closing price at $131.65; NVE Corporation (NVEC) gained 2.66 points with a high on the day of $31.73 a low of $28.91 for a closing price at $30.75; Wynn Resorts Limited (WYNN) shed 5.36 points with a high on the day of $116.96 a low of $111.25 for a closing price at $111.47; Tessera Technologies Incorporated (TSRA) shed 2.41 points with a high on the day of $43.47 a low of $40.07 for a closing price at $41.13; Zoltek Companies Incorporated (ZOLT) shed 3.28 points with a high on the day of $35.40 a low of $33.12 for a closing price at $33.22; Research In Motion Limited (RIMM) gained 0.93 points with a high on the day of $95.06 a low of $91.82 for a closing price at $93.17; SunPower Corporation (SPWR) gained 2.86 points with a high on the day of $78.30 a low of $72.77 for a closing price at $76.00; Garmin Limited (GRMN) shed 0.44 points with a high on the day of $71.10 a low of $69.09 for a closing price at $69.66; Intuitive Surgical Incorporated (ISRG) gained 1.89 points with a high on the day of $315.80 a low of $303.51 for a closing price at $307.50.
Treasury Releases FY 2009 Bluebook - Washington DC - The U.S. Treasury Department today released its General Explanations of the Administration's Fiscal Year 2009 Revenue Proposals often referred to as the Bluebook. The Administration's Fiscal Year 2009 Budget includes measures to permanently extend the President's tax relief enacted in 2001 2003 promote savings investment improve compliance with the U.S. tax system. The Fiscal Year 2009 Budget also includes initiatives to: Provide a new stard deduction for health insurance; Encourage entrepreneurship investment; Provide alternative minimum tax (AMT) relief; Strengthen home ownership; Provide incentives for charitable giving; Extend various expiring tax provisions.
Extend Permanently the President's 2001 2003 tax relief. The President's tax relief enacted in 2001 2003 helped make the tax code fer simpler more pro-growth. The Fiscal Year 2009 Budget proposals include making the 2001 2003 tax relief permanent which is essential for promoting economic growth higher living stards in the future. The Fiscal Year 2009 Budget also includes proposals to promote savings for all Americans encourage investment by entrepreneurs.
AMT Relief - The Administration is concerned that the individual AMT may impose substantial burdens upon taxpayers who were not the originally intended targets of the individual AMT. The President's Fiscal Year 2009 Budget proposes to extend for one year through 2008 provisions that address the rapid rise in the number of taxpayers affected by the AMT. The Administration believes the longer term solution to the problems associated with the individual AMT is best addressed within the context of other reforms to the tax system. The proposal would increase the AMT exemption levels for 2008 to $46250 for single head of household filers $70050 for married taxpayers filing joint returns $35025 for married taxpayers filing separate returns. In addition the proposal would allow an individual to reduce 2008 tax liability by the full amount of nonrefundable personal credits.
Improving Tax Compliance In September 2006 the Treasury Department released a comprehensive strategy to improve tax compliance. The strategy builds upon the demonstrated experience current efforts of the Treasury Department the Internal Revenue Service (IRS) to improve compliance with a commitment to taxpayer service. In August 2007 the IRS issued a report: Reducing the Federal Tax Gap: A Report on Improving Voluntary Compliance setting forth the steps the IRS is taking to implement the 2006 Treasury strategy. The Treasury Department has put forward 16 proposals in the Fiscal Year 2009 Budget to help improve compliance with an emphasis on improving information reporting without creating excessive burdens on compliant taxpayers. The Treasury Department also asked for $489 million for the IRS to increase compliance efforts.
Commodities Markets: The trend was higher across the board today for the Energy Sector: Light crude moved higher today by $1.06 to close at $90.02 a barrel; Heating Oil moved higher today by $0.03 to close at $2.48 a gallon; Natural Gas moved higher today by $0.12 to close at $7.86 per million BTU Unleaded Gas moved higher today by $0.03 to close at $2.31 a gallon.
Metals Markets ended the session mixed across the board today: Gold moved lower today by $4.10 to close at $909.40 a Troy ounce; Silver moved lower today by $0.09 to close at $16.78 per Troy ounce; Platinum moved sharply higher today by $27.40 to close at $1797.60 per Troy ounce Copper moved higher by $0.03 today to close at $3.30 per pound.
On the Livestock Meat Markets the trend was mostly lower across the board today: Lean Hogs ended the day higher by $0.53 to close at $67.20; Pork Bellies ended the day lower by $1.45 to close at $92.90; Live Cattle ended the day lower by $0.13 at $93.93 Feeder Cattle ended the day lower by $0.70 at $104.75.
Other Commodities: Corn ended the day higher by $10.00 at $510.75 Soybeans moved sharply higher today by $38.75 to end the session at $1326.00.
Bonds were mostly lower across the board today: 2 year bond moved higher by 1/32 to close at 100 4/32; 5 year bond moved lower by 5/32 to close at 100 14/32 today; 10 year bond moved lower by 15/32 to close at 104 29/32 the 30 year bond moved lower by 1 6/32 to close at 110 5/32 on the day.
The e-mini Dow ended the session today at 12632 with a loss of 124 points on the trading session. The total Dow Exchange Volume for the day came in at 181512 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 5437606; Open Interest for Futures moved higher by 100578 points to close at 10611584; the Open Interest for Options moved higher by 225438 points to close at 9499598 the Cleared Only closed higher by 678 points to close at 22039 for a total Open Interest on the day of 20133221 for a total Change on the day with a gain of 326694 points.
Monitor scheduled economic data every market morning by viewing the Daily Market Report Millennium-Traders free access to visitors on our website.
Numerous Free Offers available Sponsors with processed subscriptions to Free Trial or other services Millennium-Traders: Investors Business Daily FX Solutions Daily Reckoning Option Advisor Zacks Investment Management MarketFN Buffett's Investment United Commodity Traders Inc Free Gold Futures Starter Kit plus HotStix Weekly Report.
Review archived News & Commentary's plus our FREE Monthly Trading Lesson posted on our website.
Thanks for reading
Millennium-Traders.Com
To view additional Daily Market Commentary's
Click Here
Licensed Brokers
Linear Mode
