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Daily Market Commentary for February 18, 2010
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Obama
President Obama announced an executive order today to officially create a
bipartisan fiscal commission. There is one main goal for the commission to
accomplish and that is getting the massive U.S. debt under control, the
President wants the annual deficit to be no more than 3% of the economy's size.
According to the order, the commission will be made up of 18 members two of
which will serve as co-chairmen. President Obama will hand pick the two chairmen
along with four other members, six more members will be chosen by the House
majority and minority leaders, the remaining six will be chosen by Senate party
leaders from both parties. Serving as commission co-chairmen will be Erskine
Bowles, a Democrat who served as White House chief of staff under President
Clinton from 1996 to 1998 and Alan Simpson, a former Republican senator from
Wyoming who served from 1979-1997. Immediately after signing the order,
President Obama said, "Everything's on the table. That's how this thing is going
to work." It is rumored that the commission will discuss all options, from
Social Security and Medicare reform to tax hikes and spending cuts. Last month
the Senate voted against a statutory commission, in that case the House and
Senate would've had to vote up or down. Under the new order the commission's
recommendations will be voted on and no recommendation can be made without 14 of
the 18 other members approval, further details still remain unknown.
Stocks rose slightly today, trading volume was light and reports on the economy
were weak. Hewlett-Packard reported quarterly earnings that topped expectations,
the technology company earned $1.10 per share. They said they expect to earn
$4.37 to $4.44 per share for the full year, up from previous forecast of $4.25
to $4.35 per share. Wal-Mart reported earnings of $1.17 per share, analysts
forecasted sales to be $1.12, and sales at stores open at least one year fell
1.6% in the fourth quarter. Commodity prices were mixed; gold fell $1.10 to
$1,119.00 an ounce and crude oil rose $1.79 to $79.12 a barrel. Bond prices also
fell, the yield on the benchmark 10-year note rose to 3.78 from 3.74 Wednesday.
Economic data released today:
PPI [Producer Price Index]:
U.S. January Producer Prices rose 1.4%; compared to consensus of an increase
by 0.9%; U.S. January PPI Excluding-Food & Energy rose 0.3%; compared to
consensus of an increase by 0.1%; U.S. January PPI Intermediate Goods rose 1.7%;
U.S. January PPI Intermediate Goods Core rose 0.5%; U.S. January PPI Crude Goods
rose 9.6%; U.S. January PPI Crude Goods Core rose 6.6%; U.S. January PPI Energy
Prices rose 5.1%; U.S. January Passenger Car Prices fell 0.5%; U.S. December PPI
Revised to rise 0.4% from an increase by 0.2%.
Initial Jobless Claims:
U.S. Jobless Claims for week of February 6 revised to 442K from 440K; U.S.
Continuing Claims for week of February 6 unchanged at 4,563,000; U.S. Jobless
Claims rose 31K to 473K in week of February 13; compared to survey of an
increase by 5K.
Philadelphia Fed Manufacturing Index:
Philadelphia Fed February Business Index 17.6 versus January 15.2;
Philadelphia Fed February Business Index 17.6 versus January 15.2; Philadelphia
Fed February Business Index Expected 15.0; Philadelphia Fed February Price Paid
32.4 versus January 33.2; Philadelphia Fed February Price Received 3.7 versus
January 2.7; Philadelphia Fed February Employment 7.4 versus January 6.1;
Philadelphia Fed February New Orders 22.7 versus January 3.2; Philadelphia Fed
February Shipments 19.7 versus January 11.0; Philadelphia Fed February Delivery
Times fell 2.1 versus January 6.6; Philadelphia Fed February Inventories 3.2
versus January decrease by 1.6.
Crude Oil Inventories released by Department of Energy [DOE]:
U.S. Crude Oil Stockpiles rose 3.085 Million Barrels at 334.503 Million
Barrels; U.S. Gasoline Stockpiles rose 1.62 Million Barrels at 232.065 Million
Barrels; U.S. Distillate Stockpiles fell 2.937 Million Barrels in week; was seen
decreasing by 1.5 Million Barrels; U.S. Refineries Ran at 79.75% capacity versus
79.11% week ago; U.S. Refineries Ran at 79.75%capacity compared to expectations
of 79.30%.
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) gain 83.89 points, EOD 10,393.13
NYSE (New York Stock
Exchange) gain 45.18, EOD 7,080.38
National Association of Securities Dealers Automated Quotations (NASDAQ)
gain 15.57 points, EOD 2,241.86
S&P 500 (SPX) gain 6.92 points, EOD 1,106.43
BEL 20 (BEL20) gain 5.57 points, EOD 2,518.41
CAC 40 (CAC40) gain 22.62 points, EOD 3,747.83
FTSE100 (UKX100) gain 48.45 points, EOD 5,325.09
NIKKEI 225 (NIK/O) gain 44.02 points, EOD 10,335.69
New York Stock Exchange (NYSE) stock market indicators for the trading session
today:
Advanced stock prices 2,099 declined stock prices 988, unchanged stock
prices 104, stock prices hitting new highs 173 and stock prices hitting new lows
2. 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 shed 1.39, HOD
294.36, LOD 290.51, EOD 291.69; FAS gain 1.12, HOD 72.42, LOD 69.60, EOD 71.79;
LTM shed 2.30, HOD 27.14, LOD 25.28, EOD 26.00; CF shed 2.54, HOD 104.38, LOD
100.87, EOD 102.01; LL shed 2.23, HOD 25.03, LOD 22.04, EOD 22.57; CLW shed
9.08, HOD 55.93, LOD 42.71, EOD 44.23; CLF gain 3.50, HOD 51.44, LOD 47.31, EOD
50.90; AAP shed 2.73, HOD 40.35, LOD 39.08, EOD 40.15.
National Association of Securities Dealers Automated Quotations (NASDAQ)
stock market indicators for the trading session today:
Advanced stock prices 1,581, declined stock prices 1,091, unchanged
stock prices 144, stock prices hitting new highs 102 and stock prices hitting new
lows 13. 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: BIDU gain 10.08, HOD 498.88, LOD
486.11, EOD 497.60; CECO gain 3.13, HOD 26.16, LOD 23.33, EOD 26.00; PCLN gain
20.08, HOD 235.80, LOD 226.02, EOD 232.95; AAPL gain 0.37, HOD 203.89, LOD
200.92, EOD 202.92; FSLR gain 2.07, HOD 127.00, LOD 124.05, EOD 126.29; XNPT
shed 12.93, HOD 7.13, LOD 6.39, EOD 6.67; RAIL shed 1.15, HOD 21.11, LOD 19.90,
EOD 20.19; ITRI gain 4.84, HOD 68.47, LOD 65.45, EOD 67.29; SNPS shed 0.31, HOD
22.14, LOD 21.75, EOD 21.79; JACK shed 1.19, HOD 21.34, LOD 20.42, EOD 20.51.
Market trends on the American Stock Exchange (AMEX) and stock market indicators
for the trading session today:
Advanced stock prices 266, declined stock prices 234, unchanged stock
prices 39, stock prices hitting new highs 10 and stock prices hitting new lows
3.
Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1105.75; Change 6.25
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,823.00; Change 11.25
E-mini DOW $5 (YM) Mar 10: EOD 10,376; Change 80
E-mini S&P MidCap 400 (MF) Mar 10: EOD 735.50; Change 2.70
Nikkei 225 (Yen) Mar 10: EOD 10,415; Change 50
World Currencies for the Forex Market, for Forex Trading by active Forex
Traders, at time of this posting:
Euro 0.7348 U.S. Dollars 1.3609
Japanese Yen 91.2600 to U.S. Dollars 0.0110
British Pound 0.6405 to U.S. Dollars 1.5614
Canadian Dollar 1.0413 to U.S. Dollars 0.9603
Swiss Franc 1.0774 to U.S. Dollars 0.9282
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (March 10) gain $1.79, EOD $79.12 per barrel ($US per barrel)
Heating Oil (March 10) gain $0.05, EOD $2.06 a gallon ($US per gallon)
Natural Gas (April 10) shed $0.20, EOD $5.16 per million BTU ($US per mmbtu.)
Unleaded Gas (March 10) gain $0.06, EOD $2.07 gallon ($US per gallon)
Metals Markets - Comex:
Gold (April 10) shed $1.10, EOD $1,119.00 ($US per Troy ounce)
Silver (March 10) shed $0.08, EOD $16.02 ($US per Troy ounce)
Platinum (April 10) shed $4.10, EOD $1,533.00 ($US per Troy ounce)
Copper (May 10) gain $0.05, EOD $3.31 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (April 10) gain $1.08, EOD $70.28
Pork Bellies (March 10) gain $1.60, EOD $87.20
Live Cattle (April 10) gain $0.90, EOD $93.05
Feeder Cattle (March 10) gain $0.90, EOD $102.48
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (May 10) shed $3.50, EOD $369.00
Soybeans (May 10) shed $5.75, EOD $957.50
BOND MARKET:
2 year EOD 100, change -1/32, Yield 0.86, Yield change 0.01
5 year EOD 99 3/32, change -8/32, Yield 2.44 Yield change 0.06
10 year EOD 98 21/32, change -13/32, Yield 3.78 Yield change 0.05
30 year EOD 98 8/32, change -18/32, Yield 4.73, change 0.04
Access upcoming scheduled economic data anytime by viewing the
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Top of the page | |
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Total for Year |
Last Week |
$336,904.00 |
$7,970.00 |
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Total for Year |
Last Week |
$123,350.71 |
$5,180.00 |
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| |
Total for Year |
Last Week |
$329,900.00 |
$12,550.00 |
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Total for Year |
Last Week |
$409,730.00 |
$7,770.00 |
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Total for Year |
Last Week |
$0.00 |
$0.00 |
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