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Daily Market Commentary for August 12, 2009
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Current Stock Prices
Current stock prices fell for the second day in a row this morning waiting on news released by the fed
this afternoon. Financial and energy stocks were the cause for the downturn
leading experts to believe that maybe the market topped over the past couple
weeks of summer rallies. Investors are looking for new positive news on the
economy and how it's recovering, and with
little economic data or earrings reports being
released it hasn't been enough to send stocks higher.
Markets are waiting for fed's decision to maybe push stocks back up to levels
they were at last week, the markets are waiting for that bounce back, experts
suggest stocks will start going higher on Thursday, depending on the
decision on interest rates and the state of the economy. Standard and Poor's
500 index reached record highs in the 1,000 level last week losing that position
over the past two days taking it down to 992.60, Dow Jones industrial average
was also at almost triple digit losses yesterday afternoon. Retail giant Macy's
reported better than expected second-quarter profits after reducing expenses,
along with JP Morgan who may sell 32 office properties to make a quick billion
off of the assets which would be the countries largest office real estate sale
of the year. While some companies might see light at the end of the tunnel
things still aren't good for banks, it seems as though some banks are only
surviving due to overdraft fees. According to reports, 45% of banks wouldn't
have made money last year, overdraft fees make up $38.5 billion dollars of
banks profits in 2009 and account for 75% of all bank fees. Average ATM fee rose
11% from 2008 and is at a staggering high of $1.97 per transaction. In early
trading market indexes were slightly higher, trading at a narrow range. Late
afternoon trading was pretty active as stocks continued the late morning rallies
of the day after the fed announced they were leaving rates unchanged, and the
economy was stabilizing but at a slower pace. Dow posted triple digit gains of
168, S&P 500 rising 17 points putting it above the 1,000 level again, and the Nasdaq
gaining 42 points, financial and technology stocks turned around to lead
the markets today, the dollar was mixed against other currencies. Commodities
were mixed today as gas and heating oil dropped while gold rose.
Economic data released today:
MBA Mortgage Applications:
U.S. MBA Refinance Index fell 7.2% at 1853.8; Last Week 1996.7; U.S. MBA
Purchase Index rose 1.1% at 267.2; Last Week 264.4; U.S. MBA Market Index fell
3.5% at 499; Last Week 517.3.
Trade Balance:
U.S. June Trade Deficit $27.01 billion; compared to consensus of a deficit of
$28.7 billion; May Trade Balance revised to deficit of $25.97 billion from
deficit of $25.96 billion; June Exports at $125.78 billion, a rise of 2.0%;
Imports $152.79 billion, a rise of 2.3%.
Crude Oil Inventories as released from Department of Energy by the Energy
Information Administration:
U.S. Crude Oil Stocks rose 2.5 million barrels at 352.0 million barrels; U.S.
Crude Oil Stocks rose 2.5 million barrels in week; was seen increasing by 0.7
million barrels; U.S. Gasoline Stocks fell 1.0 million barrels at 211.9 million
barrels; U.S. Gasoline Stocks fell 1.0 million barrels in week; was seen
decreasing by 1.3 million barrels; U.S. Distillate Stocks rose 0.8 million
barrels a 162.3 million barrels; U.S. Distillate Stocks rose 0.8 million barrels
in week; was seen decreasing by 0.3 million barrels; U.S. Refineries Ran at
capacity of 83.5% versus 84.5% a week ago; U.S. Refineries Ran at 83.5% capacity
compared to expectations of capacity of 82.30%.
Interest Rate Decision from Federal Open Market Committee:
Fed keeps fed funds range unchanged at 0.0% to 0.25%; voted 10-0 for fed funds
rate action; fed leaves discount rate unchanged at 0.5%; economy 'leveling out'
but to remain weak for a time; to slow pace of treasury purchases, finish buying
by end of October; financial conditions have improved further recently; consumer
spending stabilizing but still constrained; expects inflation to be subdued 'for
some time'; businesses cutting staff, investment; firms making progress
adjusting inventories to sales; no changes to $1.45 trillion mortgage security
purchase plan; to evaluate timing, amounts of purchase programs; rates to stay
'exceptionally low' for extended period.
At the NYSE closing bell on the New York Stock Exchange, here is how the major
world indices and major U.S. stock indices ended the trading session on the
world markets as well as the emerging markets including the stock market closing
bell price:
DOW (Dow
Jones Industrial Average) triple digit gains 119.93 points, EOD 9,361.38
NYSE (New York Stock
Exchange) gain 75.25, EOD 6,538.87
National Association of Securities Dealers Automated Quotations (NASDAQ)
gain 28.99 points, EOD 1,998.72
S&P 500 (SPX) gain 11.43 points, EOD 1,005.78
BEL 20 (BEL20) gain 10.94 points, EOD 2,273.34
CAC 40 (CAC40) gain 51.06 points, EOD 3,507.24
FTSE100 (UKX100) gain 45.42 points, EOD 4,716.76
NIKKEI 225 (NIK/O) shed 150.46 points, EOD 10,435.00
New York Stock Exchange (NYSE) stock market indicators for the trading session
today:
Advanced stock prices 2,252, declined stock prices 858, unchanged
stock prices 64, stock prices hitting new highs 58 and stock prices hitting new
lows 3. NYSE quotes for volatile stocks and market trends, as well as stock
quotes, stock prices and stock symbols of Day Trading Stock Picks on the New
York Stock Exchange stock market for Day Trading online and active Day Trading
for those who are or would like to be Day Trading for a living: CME gain 6.02,
HOD 287.45, LOD 277.52, EOD 282.02; HES shed 0.38, HOD 54.17, LOD 53.05, EOD
53.09; EJ gain 1.45, HOD 24.39, LOD 21.05, EOD 21.51; POT gain 1.05, HOD 95.80,
LOD 92.30, EOD 95.02; FAS gain 3.61, HOD 72.65, LOD 66.59, EOD 71.15; MA gain
1.63, HOD 205.48, LOD 200.30, EOD 204.32; CRY gain 1.56, HOD 6.85, LOD 5.46, EOD
6.74; RTP gain 0.88, HOD 157.51, LOD 150.20, EOD 155.83; DVN shed 0.27, HOD
65.15, LOD 63.75, EOD 63.98.
National Association of Securities Dealers Automated Quotations (NASDAQ) stock
market indicators for the trading session today:
Advanced stock prices 1,939, declined stock prices 800, unchanged
stock prices 120, stock prices hitting new highs 56 and stock prices hitting new
lows 5. NASDAQ quotes, volatile stocks and market trends, as well as stock
quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ
stock market for Day Trading online and active Day Trading for those who are or
would like to be Day Trading for a living: CREE gain 2.21, HOD 34.75, LOD 33.41,
EOD 34.04; VISN shed 0.12, HOD 6.00, LOD 5.45, EOD 5.75; FSLR shed 1.54, HOD
147.40, LOD 144.72, EOD 144.99; BOBE shed 2.00, HOD 26.89, LOD 25.76, EOD 26.22;
BIDU gain 2.80, HOD 350.74, LOD 345.00, EOD 348.63; AAPL gain 2.48, HOD 166.71,
LOD 162.46, EOD 165.31; PCLN shed 5.08, HOD 153.70, LOD 146.82, EOD 148.64; GMCR
shed 1.00, HOD 66.50, LOD 63.06, EOD 64.84; WYNN gain 4.08, HOD 60.43, LOD
55.76, EOD 59.52; APOL shed 0.46, HOD 67.00, LOD 65.74, EOD 66.46; JAZZ gain
0.69, HOD 7.99, LOD 7.03, EOD 7.21.
Market trends on the American Stock Exchange (AMEX) and stock market
indicators for the trading session today:
Advanced stock prices 331, declined stock prices 211, unchanged stock
prices 51, stock prices hitting new highs 20 and stock prices hitting new lows
2.
Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Sept 09: EOD 1005.50; Change 12.50
E-mini NASDAQ-100 (NQ) Sept 09: EOD 1,622.50; Change 26.00
E-mini DOW $5 (YM) Sept 09: EOD 9,350; Change 134
E-mini S&P MidCap 400 (MF) Sept 09: EOD 650.80; Change 9.30
Nikkei 225 (Yen) Sept 09: EOD 10,550; Change 95
World Currencies for the Forex Market, for Forex Trading by active Forex
Traders, at time of this posting:
Euro 0.7037 to U.S. Dollars 1.4211
Japanese Yen 96.0400 to U.S. Dollars 0.0104
British Pound 0.6059 to U.S. Dollars 1.6505
Canadian Dollar 1.0882 to U.S. Dollars 0.9189
Swiss Franc 1.0758 to U.S. Dollars 0.9295
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (September 09) gain $0.70, EOD $70.16 per barrel ($US per barrel)
Heating Oil (September 09) shed $0.02, EOD $1.89 a gallon ($US per
gallon)
Natural Gas (September 09) shed $0.06, EOD $3.48 per million BTU ($US
per mmbtu.)
Unleaded Gas (September 09) shed $0.02, EOD $2.03 a gallon ($US per
gallon)
Metals Markets - Comex:
Gold (December 09) gain $4.90, EOD $952.50 ($US per Troy ounce)
Silver (September 09) gain $0.24, EOD $14.59 ($US per Troy ounce)
Platinum (October 09) shed $0.70, EOD $1,244.40 ($US per Troy ounce)
Copper (September 09) gain $0.09, EOD $2.82 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (October 09) shed $0.38, EOD $43.98
Pork Bellies (February 10) no change $0.00, EOD $79.40
Live Cattle (October 09) gain $0.68, EOD $88.35
Feeder Cattle (October 09) gain $0.08, EOD $100.18
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) gain $5.25, EOD $336.25
Soybeans (November 09) gain $5.50, EOD $1,044.00
BOND MARKET:
2 year EOD 99 22/32, change 1/32, Yield 1.16, Yield change -0.01
5 year EOD 99 25/32, change 0, Yield 2.67, Yield change -0.15
10 year EOD 95 8/32, change -9/32, Yield 3.70, Yield change 0.03
30 year EOD 95 18/32, change -1 11/32, Yield 4.52, change 0.09
Access upcoming scheduled economic data anytime by viewing the
Economic Calendar from Millennium-Traders, free access to visitors
on our website.
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Top of the page | |
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Total for Year |
Last Week |
$34,086.00 |
$8,234.00 |
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Total for Year |
Last Week |
$9,725.00 |
$1,970.00 |
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Total for Year |
Last Week |
$76,500.00 |
$10,200.00 |
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Total for Year |
Last Week |
$102,270.00 |
$13,630.00 |
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Total for Year |
Last Week |
$0.00 |
$0.00 |
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