Market Swing Wildly after Fed Announce

[MTnews]

Daily Market Commentary for January 30 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) loss of 40.89 points on the day to end the session at 12439.41

NYSE (New York Stock Exchange) loss of 34.15 points to end the session at 9011.87

NASDAQ loss of 9.06 points for a close at 2349.00

S&P 500 loss of 6.92 points for a close at 1355.38

RUSSELL 2000 loss of 9.54 points to close at 695.56

FTSE Global Equity Index Series (GEIS) gain of 0.15 points to close at 241.58

FTSE RAFI 1000 gain of 57.58 points to close at 5660.33

BEL 20 loss of 1.35 points to close at 3767.06

CAC 40 loss of 67.88 points to close at $4873.57

FTSE100 loss of 47.9 points to close at 5837.30

NIKKEI 225 loss of 133.9 points to close at 13345.00

On the NYSE today advancers came in at 1331; decliners totaled 1834; unchanged came in at 92; new highs came in at 31 new lows came in at 31. Momentum stocks traded by active Day Traders on the NYSE today: CME Group Incorporated (CME) shed 18.75 points with a high on the day of $618.65 a low of $593.98 for a closing price at $598.25; iShares FTSE/Xinhua China 25 Index (FXI) shed 6.95 points with a high on the day of $150.38 a low of $141.81 for a closing price at $142.35; Baker Hughes Incorporated (BHI) shed 6.17 points with a high on the day of $69.60 a low of $66.78 for a closing price at $67.27; Mosaic Corporation (MOS) shed 3.55 points with a high on the day of $94.73 a low of $87.61 for a closing price at $88.95; InterContinental Exchange Incorporated (ICE) shed 3.53 points with a high on the day of $145.00 a low of $137.03 for a closing price at $138.36; Petroleo Brasileiro (PBR) gained 0.72 points with a high on the day of $114.24 a low of $107.05 for a closing price at $109.25; Schlumberger Limited (SLB) shed 2.94 points with a high on the day of $79.12 a low of $75.55 for a closing price at $75.75; Tupperware Brs Corporation (TUP) gained 5.19 points with a high on the day of $36.99 a low of $32.55 for a closing price at $34.55; Dover Corporation (DOV) gained 2.66 points with a high on the day of $42.20 a low of $39.20 for a closing price at $41.06; PepsiAmericas Incorporated (PAS) shed 5.63 points with a high on the day of $27.73 a low of $23.00 for a closing price at $23.25; Goldman Sachs Group Incorporated (GS) gained 2.50 points with a high on the day of $205.97 a low of $193.40 for a closing price at $198.55; Under Armour Incorporated (UA) gained 1.20 points with a high on the day of $39.61 a low of $36.73 for a closing price at $37.59; Canon Incorporated (CAJ) shed 2.78 points with a high on the day of $43.17 a low of $41.19 for a closing price at $42.19; Alliance Data Systems Corporation (ADS) shed 0.30 points with a high on the day of $44.48 a low of $40.60 for a closing price at $42.70; MEMC Electronic Materials Incorporated (WFR) shed 3.33 points with a high on the day of $75.32 a low of $71.17 for a closing price at $71.53; New Oriental Education & Technology Group (EDU) shed 2.89 points with a high on the day of $54.54 a low of $50.68 for a closing price at $52.25; Uniao de Bancos Brasileiros S.A. (Unibanco) (UBB) shed 2.25 points with a high on the day of $135.35 a low of $125.48 for a closing price at $129.00; NVR Incorporated (NVR) shed 27.65 points with a high on the day of $633.50 a low of $600.05 for a closing price at $600.00; Fluor Corporation (FLR) shed 4.23 points with a high on the day of $123.80 a low of $118.69 for a closing price at $119.91; Potash Corp. of Saskatchewan Incorporated (POT) shed 4.67 points with a high on the day of $142.95 a low of $135.60 for a closing price at $136.25; VMware Incorporated (VMW) gained 1.03 points with a high on the day of $57.17 a low of $53.57 for a closing price at $55.90; Mastercard Incorporated (MA) shed 2.46 points with a high on the day of $197.71 a low of $188.00 for a closing price at $189.00; Inverness Medical Innovations Incorporated (IMA) shed 4.30 points with a high on the day of $47.85 a low of $43.75 for a closing price at $43.80; Companhia Siderurgica Nacional (SID) gained 1.83 points with a high on the day of $95.80 a low of $89.33 for a closing price at $92.88; Transocean Incorporated (RIG) shed 3.21 points with a high on the day of $127.00 a low of $123.09 for a closing price at $123.27.

On the NASDAQ today advanced totaled 1313; decliners totaled 1710; unchanged came in at 109; new highs came in at 20 new lows came in at 119. Momentum stocks traded by active Day Traders on the NASDAQ today: Baidu.com Incorporated (BIDU) shed 11.32 points with a high on the day of $272.99 a low of $253.83 for a closing price at $259.39; Cymer Incorporated (CYMI) shed 6.88 points with a high on the day of $29.35 a low of $26.55 for a closing price at $27.00; Healthways Incorporated (HWAY) shed 10.52 points with a high on the day of $56.99 a low of $53.35 for a closing price at $55.85; Apple Incorporated (AAPL) gained 0.64 points with a high on the day of $135.45 a low of $130.00 for a closing price at $132.18; First Solar Incorporated (FSLR) shed 7.55 points with a high on the day of $191.39 a low of $180.59 for a closing price at $184.35; Mercadolibre Incorporated (MELI) shed 5.9059points with a high on the day of $41.00 a low of $35.96 for a closing price at $36.11; Google Incorporated (GOOG) shed 2.25 points with a high on the day of $560.43 a low of $543.51 for a closing price at $548.27; Ctrip.com International Limited (CTRP) shed 3.48 points with a high on the day of $46.37 a low of $42.25 for a closing price at $42.82; SunPower Corporation (SPWR) shed 4.30 points with a high on the day of $74.55 a low of $69.05 for a closing price at $70.30; Sears Holdings Corporation (SHLD) gained 1.11 points with a high on the day of $109.00 a low of $102.71 for a closing price at $105.07; AMAG Pharmaceuticals Incorporated (AMAG) shed 5.64 points with a high on the day of $58.47 a low of $43.59 for a closing price at $50.02; Conceptus Incorporated (CPTS) gained 0.79 points with a high on the day of $17.79 a low of $15.04 for a closing price at $16.04; SiRF Technology Holdings Incorporated (SIRF) shed 1.47 points with a high on the day of $15.86 a low of $14.50 for a closing price at $14.58; Garmin Limited (GRMN) gained 0.13 points with a high on the day of $71.35 a low of $68.03 for a closing price at $70.34.

Fed cuts Fed Funds Rate 0.50 Basis Points to 3.0% sees Downside Risks. FOMC Voted 9-1 for Fed Funds Rate Cut. Additional comments FOMC: Inflation Should Moderate will Monitor Closely; Credit Has Tightened for Businesses Households; Financial Markets Remain Under Considerable Stress; Recent Information Shows Deepening Housing Contraction Soft Labor Markets; Will Act In Timely Manner As Needed To Address Econ Risks; Rate Cut Should Promote Moderate Growth Risks Remain; Fisher Dissented Preferred no Change in Rates.

ADP Sees January U.S. Private Sector Jobs increase by 130000 ADP January U.S. Private Sector Jobs Expected to increase by 43000.

U.S. GDP rose at rate of 0.6% in fourth quarter compared consensus of an increase by 1.2%; Real Final Sales rose 1.9% in fourth quarter; PCE Price Index rose at rate of 3.9% in fourth quarter; Chain-Weighted Price Index rose at rate of 2.6% in fourth quarter; Domestic Purchases Price Index rose at rate of 3.8% in fourth quarter.

Secretary Paulson’s Remarks on the Economy Before the Real Estate Roundtable Washington D.C. – Good afternoon. Thank you Chris thanks to the Real Estate Roundtable for inviting me. As you know we have a lot on our economic plate right now. I will give you my perspective then look forward to hearing your thoughts.

U.S. Economy Fiscal Growth Package
The U.S. economy is undergoing a significant housing correction. That combined with high energy prices capital market turmoil caused economic growth to slow rather markedly at the end of 2007 as reflected in the GDP numbers released this morning. I am confident our economy will continue to grow although not as rapidly as we have seen in recent years. The U.S. economy is diverse resilient our long-term fundamentals are healthy. Yet the risks are clearly to the downside President Bush knows that economic security is of the utmost importance to the American people. We have been tracking economic signals closely for some time now are actively engaged with policymakers around the world as we monitor global markets. In recent weeks the potential benefits of quick action to support our economy became clear the potential costs of doing nothing too great. So the President asked me to work with Congress to develop a fiscal growth package to minimize the impact on the real economy as we weather this housing correction. At the outset the President suggested a few principles to use as a foundation for discussion --- that a fiscal growth plan must be enacted quickly; it must be robust temporary broad-based must get money into our economy quickly. We found common ground with the Congress in those principles began intense discussions. In eight days the Administration Democratic Republican House leadership reached agreement. Yesterday in additional evidence of bipartisan cooperation commitment the House passed a bill based on this agreement. For Washington this is action at the speed of light I am optimistic the next few weeks will be equally productive. The House bill is a balanced bipartisan compromise that will provide immediate relief for American families incentives for businesses to invest hire. If enacted swiftly the House bill is expected to help create more than half a million jobs by the end of 2008. We know experience that both immediate tax relief for income tax payers incentives for businesses to invest hire are effective in creating growth jobs in the short-term. Speaker Pelosi Minority Leader Boehner have shown discipline leadership the House has set a high stard. Certainly House members both sides of the aisle wanted additional provisions added to the bill. But both Leaders kept this effort limited focused in order to reach agreement. Strong leadership in the House has provided decisive steps towards quick action to boost the economy. The task now moves to the Senate. Senators like their House colleagues know time is of the essence. I think they also underst that a simple package can move quickly while a complex package can upset the current balance. If the process bogs down the American people will lose patience we will also lose the momentum that's absolutely needed for quick action quick results. House leaders carefully crafted a balanced agreement. They recognized that a simple plan offered the most expedient effective path. I am confident Senate leaders will see the wisdom of this approach I don't believe the Senate has any interest in derailing the cooperation speed with which Washington has acted so far. If we keep moving along this fast-track within a few weeks Congress sends the President a bill he can sign rebate payments would start in May. But until the President signs a bill into law checks are in the mail I won't say that this short-term effort is complete. of course we will continue to press for economic policies which are in our country's long-term best interest --- a pro-growth tax system entitlement reform a balanced budget. We are addressing a short-term economic need the Administration remains committed to vigorous debate with the Congress over the need for longer-term structural reforms.

Housing Markets
While a swift simple substantive fiscal growth package will provide a boost add to job creation this year it is not intended or expected to slow down the housing correction. After years of unsustainable home price appreciation this is a necessary correction. On Monday the Commerce Department reported that over the 12 months of 2007 new homes sales dropped 41 percent new home prices declined by 10.4 percent. Other measures also show roughly flat or falling home prices over the last year. The Administration's focus has been --- in addition to this fiscal growth plan will continue to be --- aggressive action to try to minimize the impact of the housing downturn on homeowners the real economy by preventing avoidable foreclosures. Last fall we encouraged the creation of the HOPE NOW alliance a coalition representing over 90 percent of the subprime servicing market non-profit mortgage counseling organizations trade associations investors. This industry-wide effort employs multiple tools to reach help struggling homeowners including streamlining subprime borrowers into refinancings loan modifications to avoid a market failure. they are doing so without asking American taxpayers to pay the bill. There are promising developments. According to HOPE NOW the industry assisted 370000 homeowners in the second half of 2007 mortgage servicers modified subprime loans during the fourth quarter at a rate three times faster than in the third quarter. In its first two months HOPE NOW sent over 480000 letters to at-risk borrowers who had not reached out for help previously. Servicers estimate that as a result of the first wave of letters approximately 16 percent or 77000 homeowners have called their servicer or a non-profit counselor to see if foreclosure can be avoided. We will receive regular progress reports in the coming months. As we learn more we will look for additional measures to reach more borrowers prevent as many avoidable foreclosures as possible. The Administration has also through FHA Secure exped affordable mortgage options. Working with Congress we have increased funding for mortgage counselors who assist struggling homeowners. We have also temporarily eliminated taxes on forgiven mortgage debt. But more action is needed in the housing sector action that is as important as a short-term fiscal growth plan. We have urged Congress to move quickly to finalize its work on the FHA modernization bill --- that will provide financing for about 250000 borrowers. Congress should also allow states to issue tax-exempt bonds to raise funds for innovative refinancing programs. it is vitally important that Congress pass GSE reform legislation to enhance regulatory oversight for Fannie Mae Freddie Mac. The House leaders decided to include a temporary increase in the GSEs' conforming loan limits in the economic growth bill. This could be helpful to jumbo mortgage borrowers; however higher limits are inconsistent with the GSEs' affordable housing mission. Under the House bill these higher limits expire at the end of this year this should not be an excuse for postponing much-needed reform. The House has already passed GSE reform legislation Senate Banking Chman Dodd has assured me that he will take legislation up soon. We will continue to press Congress for this reform stronger GSE regulatory oversight.

Capital Markets
Predictably our capital markets are being impacted as we weather the housing correction uncertainty in the housing sector. Investors' concerns about credit have increased dramatically market liquidity has been in turn similarly impacted. The plentiful flow of liquidity that fueled the boom in borrowing leverage across asset classes --- home mortgages to leveraged buyouts --- has been reduced with significant consequences. Short-term funding markets were stressed inter-bank funding spreads rose to unprecedented levels. Mortgage origination other asset securitization dropped markedly adding to the challenges in the housing sector. Given the interconnectedness of our capital markets other stresses emerged as financial institutions grappled with valuing assets balance sheets came under pressure. These developments led to significant actions by major central banks tremendous financial sector strains. Since August financial institutions have written off over $153 billion of assets. Numerous issuers structures have been downgraded over $136 billion in off-balance sheet assets have been consolidated. During the past nine weeks we have also seen some encouraging signs. US financial institutions have raised over $95 billion in new capital. The housing Government Sponsored Entities (GSEs) Freddie Mac Fannie Mae have raised equity. A number of our financial institutions have strengthened balance sheets by raising capital a variety of U.S. foreign sources. Our markets are still working through these strains certainly your industry has been impacted as well. These events underscore the need for strong market discipline prudent regulatory policies robust risk management. While this transition period is difficult will take more time it is appropriate reflects a healthy return to fundamentals. I have great confidence in our markets. They have recovered similar stressful periods in the past they will again. As we work to better underst the causes of the distress in the housing mortgage markets the capital market turmoil some lessons are very clear. For instance an abundant supply of easy credit a decline in lending stards were major contributors. Complex opaque financial instruments structures such as the use of conduits SIVs contributed as did investor practices rating agency issues. Through the President's Working Group on Financial Markets we are reviewing the underlying policy issues. Our reviews' focus on issues ranging enhancing risk management including liquidity counterparty credit risk to market infrastructure to reporting disclosure to ratings investor practices. Working through the current stress is our first concern getting the long-term policy right is just as important. We also need to streamline modernize the patchwork regulatory structure that oversees the mortgage process provide consumers with clear understable mortgage disclosure bring a higher level of integrity to the mortgage origination process.

Conclusion
I am optimistic that Congress will pass a growth package quickly enough to have a real impact on our economy to help individuals families to increase business investment now when it is most needed. Our economy is resilient as are the American people. We will work through this period share a future of continued opportunity prosperity.

Remarks by Treasury Under Secretary for International Affs David H. McCormick at the Council on Foreign Relations: U.S. - China Economic Engagement: The Road to Faster Deeper Reform New York – Thank you Paul for that warm introduction thanks to all of you for coming this morning. I am grateful to the Council on Foreign Relations for bringing us together to discuss an issue of great long-term importance: U.S.-China economic relations. Indeed maintaining a mutually beneficial open politically sustainable economic relationship with China is one of the United States' most pressing challenges greatest opportunities in the realm of international economic policy. The challenge is great because the stakes are high for the United States for China for the global economy. For the United States China is the world's fastest growing major market for our goods services. Since China's accession to the World Trade Organization in 2001 U.S. exports to China have grown five times faster than our exports to the rest of the world. At the same time China's prosperity depends on the United States. Last year American consumers companies purchased one-fifth of China's exports. Even as China diversifies its export markets American dem continues to shape China's economy. Investment flows between our two countries are also exping rapidly. Between just 2002 2006 U.S. foreign direct investment (FDI) in China grew roughly $10 to $22 billion while in 2007 alone Chinese direct portfolio investment in the United States totaled nearly $10 billion. As a consequence of this growth the U.S.-China economic relationship has been d to mature very quickly. With the increasing volume of trade investment it was inevitable that we would experience a range of frictions as we do in our economic relationships with other major trading partners. These frictions include growing concerns about trade imbalances product safety the Chinese government's large holdings of foreign exchange reserves China's foreign exchange policies. While not surprising these frictions have nevertheless caused some in the United States to question the benefits of maintaining an open expansive economic relationship with China. The Bush Administration's answer to this defining question is unwavering: We are committed to strengthening our economic relationship with China opening its markets to create new opportunities for American firms American workers. In this effort we are making full use of the policy tools at our disposal we have developed new approaches most notably the Strategic Economic Dialogue (SED) launched by Presidents Bush Hu in 2006. In spite of the continuing frustrations inevitable tensions in our economic relations with China this Administration is taking a thoughtful effective approach to accelerating reform promoting U.S. interests. Would we like more rapid deeper reform? Of course. But we are making steady progress bringing clear benefits to America's workers businesses consumers.

China's Growth Challenge
China's growth over the past three decades has been nothing short of miraculous. It has transformed itself a poor mostly agrarian almost closed economy into the world's third most important trading nation. In the process China has benefited economic growth averaging nearly 10 percent per year that has lifted hundreds of millions of Chinese citizens out of poverty. The growth model that produced this enormous success has also been highly resource-intensive driven by heavy investment in industrial production exports rather than growth in domestic household consumption. We see evidence that this model is no longer sustainable in China's increasingly wasteful investment rising inequality a large growing current account surplus accelerating environmental degradation. We also see evidence of this in weak growth in Chinese employment in household income growth that lags well behind the rise in GDP. China's imbalances at home are mirrored by the imbalances China continues to generate abroad. High national saving its counterpart weak consumer dem provide the structural basis for large Chinese trade current account surpluses that make China's economic growth increasingly dependent upon foreign dem sometimes creating friction between China its trading partners. This is not simply an American critique of China's economy. China's most senior leaders tell us they are committed to addressing the imbalances between growth in rural urban areas between the coastal interior regions between reliance on domestic foreign dem to drive growth between rich poor households between economic development environmental protection. They are coming to realize as we do that their success in addressing these challenges would have enormous benefits for China the United States.

Exchange Rate Policy
The critical question for U.S. policymakers is how we can best support encourage this economic transformation. For our part we underst that we will be judged by our success in helping the Chinese address this rebalancing challenge in a manner that brings continued benefits while minimizing the risks to the U.S. economy. China's exchange rate is one issue that has been viewed by some I think mistakenly as a litmus test for our success. The untold story of our approach to China's currency policy is that it is working albeit more slowly than we would like. Initially after moving away a pegged exchange rate in July 2005 China's actions were cautious with the RMB appreciating slowly. More recently however the pace of appreciation has increased sharply to roughly 7 percent in 2007 4 percent in the last three months alone or 17 percent annualized. Since China aboned the peg to the dollar the RMB has appreciated roughly 15 percent against the dollar 9 percent against other major currencies on a real trade-weighted basis. The foreign exchange market in China is also developing: daily RMB fluctuations are larger the market is deeper we have seen rapid expansion in the use of foreign currency hedging instruments. Although RMB adjustment is still far complete the accelerated pace of appreciation is significant welcome it should continue. China the United States must be careful not to derail this reform through protectionist actions on either side that risk disrupting the relationship. The leadership interest of the U.S. Congress on China's currency reform – China's economic reform more broadly are both needed welcome. But it is especially important now during a time of turmoil in global markets that we remain steadfast in our commitment to an open exping trade investment relationship between the United States China. As Secretary Paulson has often said greater exchange rate flexibility is in China's own interest. The RMB movement that I have noted reflects the Chinese leadership's growing recognition that more rapid exchange rate adjustment allows for more effective management of the Chinese economy including the risk of rising inflation. A continuation of the recent pace of RMB appreciation is also important to the United States although it will not eliminate or even decrease significantly the U.S. global trade deficit or mitigate the challenges that American industries face overseas competition. It will however remove a major source of perceived unfness in the U.S. - China economic relationship permitting us to devote greater attention to other issues with even more significant impact on our economic relationship.

Strategic Economic Dialogue
Under Secretary Paulson's leadership the Strategic Economic Dialogue has created an unprecedented channel of communication between senior U.S. policymakers their counterparts at the highest levels of the Chinese government that is focused on doing just that. Specifically the SED is premised on the fact that China the United States have shared economic interests that we benefit exping our cooperation over the longer term. Central to our shared interests is leveraging U.S. expertise support in helping China transition to a new model for economic growth that addresses its imbalances. This reform agenda runs broad deep ranging macroeconomic policy to domestic regulation investment policy to environmental protection. For example to assure China's future growth – without heavy domestic costs huge trade surpluses – China must put more income in the hs of households change policies that these households to save so much of what they earn. This involves increasing the dividend payments China's profitable companies including state-owned enterprises a reform that China has recently started. It also requires a stronger social safety net that reduces the need for Chinese households to over-save for a rainy day or old age. On these issues we can contribute much in terms of expertise capabilities in our ongoing dialogue with China's leaders. To create more sustainable growth China will also need to develop a vibrant efficient financial sector to provide Chinese households firms with better opportunities to build wealth hedge risk to fuel innovation as an engine of economic growth. Clearly the American financial services industry has much to offer China in this regard. As you know we are working to improve access to China's market for the American financial services industry. Like you we are unsatisfied with the progress to date but the SED has produced some significant Chinese commitments in financial services such as China's agreement to allow greater market access in the banking securities insurance asset management markets. As I have argued to my Chinese counterparts building a modern financial sector is not an easy task – but foreign participation the knowledge skills that come with it can play a big role in accelerating this process. Ensuring markets remain open to investment is every bit as important as ensuring that they remain open to trade so we are also committed to focusing within the SED on maintaining exping investment flows between our two countries. This is a critical component of rebalancing China's future growth coastal to interior regions. As an example we are intensifying discussions on the prospects for negotiating a Bilateral Investment Treaty we have also recently established a U.S. - China Investment Forum to discuss the full range of investment issues that the United States China face. The SED has also made important progress in helping China address other barriers to its continued development. For example in the area of product safety China recently agreed to allow U.S. quality inspectors to conduct on-site audits of key Chinese exporters a step that will help China develop improved stards capabilities for critical export industries. Similarly the SED has provided a forum to collaborate with China on addressing the terrible environmental cost of rapid growth to its soil water which looms as a significant challenge to its next chapter of economic prosperity. At last December's SED the United States China agreed to work together to tackle this problem by developing an ambitious ten-year plan for cooperation.

The Way Forward
As these examples demonstrate the SED is focused on critical strategic issues of interest to both of our countries that require long-term policy prescriptions. This is why it is so important that we look past next month next year or the next election as we consider our economic engagement with China. In practical terms that means we have an obligation to turn over to a new Administration a healthy U.S.-China economic relationship a robust enduring dialogue capable of continuing the progress I have just described. As I hope I have made clear this morning I think we're on track. Through the SED we are making progress across a full rich agenda of opportunities challenges that are every bit as important to the United States as they are to China. I underst share the frustration of those who believe the Chinese are moving too slowly on many issues. On those we must push. We must both cajole support. We have been must continue to be firm clear when engaging with China that accelerated reform is as much in their interests as in ours. when we are unsuccessful through dialogue in resolving key differences we will not hesitate to take cases to the WTO or to make full use of WTO-sanctioned trade remedies established under U.S. law. But we must also take care not to vent our frustration in the form of punitive legislation or elevated rhetoric that could ultimately cost the American economy set back the process of reform in China. America's economic relationship with China is of equal importance to Republicans Democrats Congress the Executive Branch this Treasury Secretary the next. I firmly believe the next Administration will inherit a U.S.-China economic relationship that reflects more meaningful progress across a broader territory than ever before. To be sure the road ahead is long. But we are taking important steps in the right direction.

Commodities Markets: The trend was higher across the board today for the Energy Sector: Light crude moved higher today by $0.11 to close at $91.75 a barrel; Heating Oil moved higher today by $0.01 to close at $2.54 a gallon; Natural Gas moved higher today by $0.10 to close at $8.05 per million BTU Unleaded Gas closed with no change at $2.33 a gallon.

Metals Markets: ended the session lower across the board today: Gold moved lower today by $4.50 to close at $926.30 a Troy ounce; Silver moved lower today by $0.04 to close at $16.76 per Troy ounce; Platinum moved sharply lower today by $34.50 to close at $1687.40 per Troy ounce Copper moved lower by $0.07 today to close at $3.23 per pound.

On the Livestock Meat Markets: the trend was mostly higher across the board today: Lean Hogs ended the day higher by $0.48 to close at $66.10; Pork Bellies ended the day higher by $2.18 to close at $93.03; Live Cattle ended the day lower by $0.23 at $94.53 Feeder Cattle ended the day higher by $0.85 at $105.10.

Other Commodities: Corn ended the day lower today by $2.50 at $498.50 Soybeans moved nicely higher today by $10.75 to end the session at $1275.75.

Bonds: were mostly lower across the board today: 2 year bond moved higher by 4/32 to close at 99 25/32; 5 year bond moved lower by 3 15/32 to close at 99 28/32 today; 10 year bond moved lower by 8/32 to close at 104 12/32 the 30 year bond moved lower by 20/32 to close at 109 23/32 on the day.

The e-mini Dow ended the session today at 12582 with a gain of 111 points on the trading session. The total Dow Exchange Volume for the day came in at 143916 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 3806374; Open Interest for Futures moved higher by 12394 points to close at 10429913; the Open Interest for Options moved higher by 159427 points to close at 8931322 the Cleared Only closed lower by 98 points to close at 21822 for a total Open Interest on the day of 19383057 for a total Change on the day with a gain of 171723 points.

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