Hurricane Season

The storms name is Hurricane Gustav and it's pounding Cuba and Haiti. Gustav, a Category 1 Hurricane is headed toward the Gulf of Mexico and chances are it may gain strength to form as a major Hurricane; possibly as strong as a Category 5. The ongoing threat of the Hurricane pushed Crude Oil higher as oil production facilities off the coast of Louisiana, Texas and Mexico watch the developments of the storm. Amidst light trading volume today, major U.S. market indices bounced in and out of negative territory before ending the trading session mixed at the closing bell. Economic data gave mixed signals to the markets, creating the difficult trading atmosphere today. Moving toward the end of the week, trading volume will all but grind to a halt as traders head out for the extended Labor Day holiday weekend. The situation between Russia and Georgia shows little signs of ending, any time soon. The event continues to have investors and day traders on the edge of their seat as they listen for any new developments.

Economic data released today:
Energy Information Administration released oil and gas data: U.S. June Gasoline Use revised down 2.8% versus estimate; U.S. June Gasoline Use 9.071M B/D, lowest June since 2001; Revised U.S. June Gasoline use down 4.4% versus year ago; Revised U.S. January-June Oil use down 4.5% or 936,000 B/D on year; Revised U.S. June Oil use 19.553M B/D versus estimated 20.346M B/D; Revised U.S. June Oil use lowest for month since 1998; U.S. June Oil use revised down 3.9% versus estimate; U.S. Revised January-June gasoline use down 2% versus year ago; U.S. June Distillate use revised down 9.8% versus estimate; U.S. Revised June Distillate use down 9.4% versus year ago; U.S. June Distillate use revised down 9.8% versus estimate; U.S. June Distillate use 3.728M B/D, lowest June since 2002; U.S. Revised June Distillate use down 9.4% versus year ago; U.S. January-June Distillate use 4.062M B/D, down 4.7% versus year ago; U.S. Revised Jun Oil Use down 1.17M B/D versus year ago.

Federal Open Market Committee Minutes released today:
Economy to stay 'damped' for 'several' quarters; most officials don't see rates as very accommodative; economy 'weak' rest of 2008, recovering 'modestly' in 2009; staff lowered GDP forecast in 2H 2008 into, 2009; officials see more payroll declines in coming months; inflation to moderate but 'significant' worries; core inflation may 'edge up' later in 2008, fall in 2009; divided on whether inflation risks rising or falling; some officials think rate hikes may be needed sooner; investors' GSE worries eased but pressures remained; exports a big stimulus, but seen waning; next move in rates seen higher, timing uncertain.

Richmond Fed:
August Manufacturing Index down 16 versus Jul drop of 16; August Manufacturing Shipments Index down 13 versus Jul drop of 23;  August Services Revenues Index down 6 versus Jul drop of 15; August Retail Revenues Index down 24 versus Jul drop of 43.

Consumer Confidence:
U.S. Conference Board August Consumer Confidence came in at 56.9 versus July reading at 51.9; Conference Board August Present Situation Index came in at 63.2 versus July reading at 65.8; Conference Board August Expectations Index came in at 52.8 versus July reading at 42.7.
New Home Sales: U.S. July New Home Sales rose 2.4% to 515,000 compared to consensus of 520,000 and U.S. June New Home Sales revised to 503,000 from 530,000.

Redbook data:
U.S. Retail Sales fell 1.8% during first 3 weeks of August versus July.

Hot Stock pick on the move today for day trading:
Ultrashort Financial Corporation (NYSE: SKF) with a trading range of over 6 points, posted loss at the closing bell was just over 1 point.

President Federal Reserve Bank of Dallas Richard W. Fisher: 
U.S. growth likely at snail's pace during 2H; GDP may turn negative during 2H 2008; economy still facing 'enormous stress'; financial markets still 'strained and difficult'; still very concerned about inflation outlook; even odds inflation may continue to rise; oil retreat 'encouraging' for price outlook; too soon to say if energy in enduring retreat; future rate actions depend on incoming data; FOMC deserves credit for keeping U.S. economy growing; FOMC takes inflation fight seriously; Fed will act if inflation pressures persist; markets dominated by 'substantial' risk fears; housing sector has not yet bottomed; housing prices likely to suffer more declines; is 'circumspect' on new regulatory powers; Fed main goal must remain price stability; Treasury, Congress are best support for GSEs; hesitant to offer markets new liquidity sources.

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 session on the world market as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) gain of 26.62 points on the day to end the trading session at 11,412.87
NYSE (New York Stock Exchange) gain of 34.69 points to end the trading session at 8,263.72
NASDAQ loss of 3.62 points to end the trading session at 2,361.97
S&P 500 gain of 4.67 points to end the trading session at 1,271.51
FTSE All-World excluding - U.S. loss of 0.44 points to end the trading session at 216.71
FTSE RAFI 1000 gain of 15.93 points to end the trading session at 4,972.04
BEL 20 (BEL20) gain of 21.21 points to end the trading session at 3,025.14
CAC 40 (CAC40) gain of 12.68 points to end the trading session at 4,368.55
FTSE100 (UKX100) loss of 34.9 points to end the trading session at 5,470.70
NIKKEI 225 (NIK/O) loss of 99.95 points on the day to end the trading session at 12,778.71

New York Stock Exchange (NYSE) stock market indicators for the day:
Advanced stock prices 1,980; declined stock prices 1,176; unchanged stock prices 86; stock prices hitting new highs 13 and stock prices hitting new lows 83.
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: Rio Tinto plc (NYSE: RTP) stock price gained 2.50 points on the trading session, high on the trading session $383.19, low on the trading session $373.90 with a closing stock price at $382.15; Coach Incorporated (NYSE: COH) stock price gained 1.78 points on the trading session, high on the trading session $28.46, low on the trading session $26.53 with a closing stock price at $28.18; Anadarko Petroleum Corporation (NYSE: APC) stock price gained 3.70 points on the trading session, high on the trading session $62.19, low on the trading session $60.00 with a closing stock price at $61.54; Aetna Incorporated (NYSE: AET) stock price gained 0.74 points on the trading session, high on the trading session $42.70, low on the trading session $41.13 with a closing stock price at $42.37; Darden Restaurants Incorporated (NYSE: DRI) stock price shed 4.01 points on the trading session, high on the trading session $28.82, low on the trading session $27.26 with a closing stock price at $28.25; ; Suntech Power Holdings Corporation Limited (NYSE: STP) stock price shed 2.84 points on the trading session, high on the trading session $45.32, low on the trading session $42.25 with a closing stock price at $43.13; Pilgrims Pride Corporation (NYSE: PPC) stock price shed 2.67 points on the trading session, high on the trading session $17.49, low on the trading session $14.51 with a closing stock price at $14.70; Consol Energy Incorporated (NYSE: CNX) stock price gained 0.22 points on the trading session, high on the trading session $69.21, low on the trading session $65.10 with a closing stock price at $67.59; Ultrashort Financial Corporation (NYSE: SKF) stock price shed 1.02 points on the trading session, high on the trading session $134.50, low on the trading session $128.35 with a closing stock price at $130.46; CME Group Incorporated (NYSE: CME) stock price shed 18.19 points on the trading session, high on the trading session $340.00, low on the trading session $319.73 with a closing stock price at $322.44; Potash Corporation Saskatchewan (NYSE: POT) stock price gained 1.41 points on the trading session, high on the trading session $181.18, low on the trading session $177.81 with a closing stock price at $178.95.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
Advanced stock prices 1,532; declined stock prices 1,322; unchanged stock prices 156; stock prices hitting new highs 17; stock prices hitting new lows 79.
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: Winn-Dixie Stores Incorporated (NasdaqGS: WINN) stock price shed 0.34 points on the trading session, high on the trading session $14.33, low on the trading session $13.77 with a closing stock price at $13.95; Sanderson Farms Incorporated (NasdaqGS: SAFM) stock price shed 4.28 points on the trading session, high on the trading session $39.49, low on the trading session $34.80 with a closing stock price at $35.21; Google Incorporated (NasdaqGS: GOOG) stock price shed 8.85 points on the trading session, high on the trading session $483.46, low on the trading session $470.59 with a closing stock price at $474.16; Baidu.com Incorporated (NasdaqGS: BIDU) stock price shed 12.66 points on the trading session, high on the trading session $321.66, low on the trading session $307.65 with a closing stock price at $309.76.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
Advanced stock prices 606; declined stock prices 545; unchanged stock prices 107; stock prices hitting new highs 13; stock prices hitting new lows 35.

Chicago Board of Trade Futures Market activity for the day, at time of this posting for September 2008 Contracts:
E-mini S&P 500 (ES) end of day price 1,271.50 change -0.25
E-mini NASDAQ-100 (NQ) end of day price 1,891.00, change -0.50
E-mini S&P SmallCap 600 (SMP) end of day price 380.80, change 0.00
$5 DJIA (YM) end of day price 11,417, change 5

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.6825 to U.S. Dollars 1.4651
Japanese Yen 109.58 to U.S. Dollars 0.0091
British Pound 0.5437 to U.S. Dollars 1.8393
Canadian Dollar 1.0480 to U.S. Dollars 0.9542
Swiss Franc 1.0995 to U.S. Dollars 0.9095

Commodity Markets:
Energy Sector: Light Crude (NYMEX: NYM) gained $1.16 on the day for a closing price of $116.27 a barrel ($US per barrel)
Heating Oil (NYMEX: NYM) gained $0.06 on the day for a closing price of  $3.22 a gallon ($US per gallon)
Natural Gas (NYMEX: NYM) gained $0.45 on the day for a closing price of $8.28 per million BTU ($US per mmbtu.)
Unleaded Gas (NYMEX: NYM) gained $0.09 on the day for a closing price of $2.97 a gallon ($US per gallon) 

Metals Markets:
Gold Market Price (COMEX: CMX) gained $2.40 on the day for a closing price of $828.10 ($US per Troy ounce)
Silver (COMEX: CMX) gained $0.20 on the day for a closing price of $13.68 ($US per Troy ounce)
Platinum (NYMEX: NYM) shed $13.90 on the day for a closing price of $1,421.10 ($US per Troy ounce)
Copper (COMEX: CMX) shed $0.05 on the day for a closing price of $3.42 ($US per pound) 

Livestock and Meat Markets (cents per lb.):
Lean Hogs (Chicago Mercantile Exchange: CME) shed 0.50 on the day for a closing price of 73.50
Pork Bellies (Chicago Mercantile Exchange: CME) shed 3.00 on the day for a closing price of 94.05
Live Cattle (Chicago Mercantile Exchange: CME) shed 0.05 on the day for a closing price of 105.75
Feeder Cattle (Chicago Mercantile Exchange: CME) shed 0.95 on the day for a closing price of 111.60 

Other Commodities (cents per bushel):
Corn (Chicago Board of Trade: CBT) shed 6.00 on the day for a closing price of 594.00
Soybeans (Chicago Board of Trade: CBT) shed 2.50 on the day for a closing price of 1,344.50

Bond Market:
2 year bond had no change on the day for a closing price of 100 25/32 with a Yield of 2.33, Yield Change +0.01
5 year bond gained 1/32 on the day for a closing price of 101 17/32 with a Yield of 3.03, Yield Change -0.01
10 year bond gained 3/32 on the day for a closing price of 101 27/32 with a Yield of 3.77, Yield Change -0.01
30 year bond gained 3/32 on the day for a closing price of 101 26/32 with a Yield of 4.39, Yield Change 0.00

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