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Daily Market Commentary for January 29, 2010
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Gross Domestic Product
Commerce Department gave a very positive report on Gross Domestic Product
today. In the fourth quarter, GDP rose at a 5.7% annual pace, up from a 2.2%
rise in the previous quarter; this was the fastest pace that the economy has
grown in 6 years. According to the report, the economy shrank 2.4% in 2009, the
first annual decline since 1991. Although
there was a decline for the year, analysts say that two straight quarters of
growth is a good sign that the economy is recovering; the latest GDP report
isn't marking an official end to the recession but economists believe the
recession ended in the middle of 2009. A lot of the growth was due to
improvement in business inventories, automakers bumped up auto production,
partially responsible for the increase in inventories. Economists warn
that the turnaround in inventories is a positive thing but the labor market
really needs to see improvement as well; personal spending is taking a hit by
the unemployment numbers, spending only grew at a2% rate in the fourth quarter.
Economists hope once government programs end the economy will be able to
continue recovering, analysts think some of the reason we've seen good reports
is due to programs like cash for clunkers and the first time home buyer's tax
credit.
President Barack Obama introduced his new proposal today, a $33 billion package
of tax credits for small businesses as part of his plan to help boost job
creation. Obama wants to give small businesses a tax credit incentive to hire
new employees, for each net new employee they hire this year they will receive
$5,000, there is a max allowance of $500,000.
In corporate news; Microsoft reported late Thursday that it earned $6.66
billion, or $0.74 a share, in its fiscal second quarter, up from $4.17 billion,
or $0.47 a share, in the same period a year ago, revenue rose 14% to $19.02
billion. Stocks weren't able to hold their gains of the morning, despite good
reports. Bond prices rose, the yield on the benchmark 10-year note fell to 3.60
from 3.66 Thursday. Commodities prices fell today; gold fell $1.60 to $1,083.20
an ounce crude oil fell $0.89 to $72.75 a barrel.
Economic data released today:
Gross Domestic Product [GDP ]:
U.S. GDP rose 5.7% Rate in 4Q; Compared to Consensus of an Increase by 4.8%;
Real Final Sales fell 2.2% in 4Q; PCE Price Index rose 2.7% Rate in 4Q; Core PCE
Price Index rose 1.4% Rate in 4Q; Domestic Purchases Price Index rose 2.1% Rate
in 4Q; Chain-Weighted Price Index rose 0.6% Rate in 4Q.
US ISM-New York:
January Current Business Index 72.6 versus 64.5 in December.
Employment Cost Index:
U.S. 4Q Employment Cost Index rose 0.5%; Compared to Consensus of an
Increase by 0.4%; U.S. 4Q Employment Cost Index rose 1.5% From a Year Ago; U.S.
Wages and Benefits Rise at Lowest Pace on Record in '09.
Chicago Purchasing Management Institute [PMI]:
Adjusted January Index 61.5 versus December 58.7; January Prices Paid Index
66.2 versus December 55.6; January Supplier Deliveries 55.3; December 57.0;
January Employment Index 59.8 versus December 47.6; January New Orders Index
66.4 versus December 64.4.
University of Michigan Consumer Sentiment Index;
5-Year Inflation Forecast rose 2.9%; December rose 2.7%; 12-Month Inflation
Forecast rose 2.8%; December rose 2.5%; Mid-January Expectations 70.1; December
68.9; Mid-January Current Index 81.1; December 78.0; Mid-January Sentiment 74.4;
December 72.5.
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) shed 51.32 points, EOD 10,069.14
NYSE (New York Stock
Exchange) shed 73.11, EOD 6,883.88
National Association of Securities Dealers Automated Quotations (NASDAQ)
gain 10.93 points, EOD 2,189.93
S&P 500 (SPX) shed 9.09 points, EOD 1,075.44
BEL 20 (BEL20) gain 18.69 points, EOD 2,505.20
CAC 40 (CAC40) gain 50.67 points, EOD 3,739.46
FTSE100 (UKX100) gain 42.78 points, EOD 5,188.52
NIKKEI 225 (NIK/O) shed 44.75 points, EOD 10,198.04
New York Stock Exchange (NYSE) stock market indicators for the trading session
today:
Advanced stock prices 987 declined stock prices 2,114, unchanged stock
prices 81, stock prices hitting new highs 52 and stock prices hitting new lows
10. 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: ARG shed 4.57, HOD
44.68, LOD 41.82, EOD 42.26; FAS shed 1.60, HOD 73.82, LOD 68.88, EOD 69.40; EDC
shed 3.92, HOD 111.69, LOD 101.56, EOD 103.49; CME shed 3.69, HOD 296.38, LOD
285.84, EOD 286.82; GS shed 4.57, HOD 154.88, LOD 147.81, EOD 148.72; POT shed
5.14, HOD 104.88, LOD 98.27, EOD 99.35; ESI shed 9.64, HOD 106.73, LOD 95.57,
EOD 96.87; LZ shed 5.57, HOD 79.17, LOD 73.21, EOD 73.69.
National Association of Securities Dealers Automated Quotations (NASDAQ)
stock market indicators for the trading session today:
Advanced stock prices 962, declined stock prices 1,750, unchanged
stock prices 128, stock prices hitting new highs 44 and stock prices hitting new
lows 33. 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: AMZN shed 0.62, HOD 131.85, LOD
124.14, EOD 125.41; SNDK shed 3.36, HOD 27.49, LOD 24.90, EOD 25.42; VPRT gain
57.87, HOD 53.50, LOD 56.01, EOD 56.01; JNPR gain 0.34, HOD 26.20, LOD 24.53,
EOD 24.83; VSEA gain 0.21, HOD 31.15, LOD 29.04, EOD 29.33; DRIV shed 0.25, HOD
27.46, LOD 24.85, EOD 25.13; GOOG shed 4.34, HOD 540.99, LOD 525.61, EOD 529.94;
PCLN shed 6.33, HOD 205.00, LOD 193.46, EOD 195.35; ISRG shed 6.95, HOD 337.00,
LOD 326.87, EOD 328.06; BIDU shed 6.14, HOD 423.99, LOD 406.73, EOD 411.71; CPSI
shed 6.40, HOD 39.23, LOD 33.92, EOD 37.63.
Market trends on the American Stock Exchange (AMEX) and stock market indicators
for the trading session today:
Advanced stock prices 230, declined stock prices 274, unchanged stock
prices 40, stock prices hitting new highs 5 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 1072.00; Change -7.25
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,741.25; Change -29.25
E-mini DOW $5 (YM) Mar 10: EOD 10,030; Change -32
E-mini S&P MidCap 400 (MF) Mar 10: EOD 702.20; Change -7.70
Nikkei 225 (Yen) Mar 10: EOD 10,150; Change -140
World Currencies for the Forex Market, for Forex Trading by active Forex
Traders, at time of this posting:
Euro 0.7213 U.S. Dollars 1.3864
Japanese Yen 90.2600 to U.S. Dollars 0.0111
British Pound 0.6257 to U.S. Dollars 1.5982
Canadian Dollar 1.0693 to U.S. Dollars 0.9352
Swiss Franc 1.0606 to U.S. Dollars 0.9429
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (March 10) shed $0.89, EOD $72.75 per barrel ($US per barrel)
Heating Oil (March 10) shed $0.02, EOD $1.91 a gallon ($US per gallon)
Natural Gas (March 10) unchanged $0.00 EOD $5.14 per million BTU ($US per mmbtu.)
Unleaded Gas (March 10) shed $0.01 EOD $1.91 gallon ($US per gallon)
Metals Markets - Comex:
Gold (March 10) shed $1.60, EOD $1,083.20 ($US per Troy ounce)
Silver (March 10) shed $0.06, EOD $16.27 ($US per Troy ounce)
Platinum (April 10) gain $10.10, EOD $1,504.00 ($US per Troy ounce)
Copper (March 10) shed $0.05, EOD $3.05 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (April 10) shed $0.80, EOD $68.60
Pork Bellies (May 10) shed $0.40, EOD $84.00
Live Cattle (April 10) gain $0.18, EOD $89.38
Feeder Cattle (March 10) gain $0.40, EOD $98.88
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (March 10) shed $6.00, EOD $356.50
Soybeans (March 10) shed $18.00, EOD $913.75
BOND MARKET:
2 year EOD 100 2/32, change 2/32, Yield 0.83, Yield change -0.03
5 year EOD 99 16/32, change 7/32, Yield 2.34 Yield change -0.05
10 year EOD 98 3/32, change 10/32, Yield 3.60 Yield change -0.04
30 year EOD 97 27/32, change 25/32, Yield 4.50, change -0.05
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Top of the page | |
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Total for Year |
Last Week |
$130,685.00 |
$8,382.00 |
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| |
Total for Year |
Last Week |
$32,847.50 |
$2,557.50 |
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| |
Total for Year |
Last Week |
$123,550.00 |
$12,650.00 |
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| |
Total for Year |
Last Week |
$106,480.00 |
$2,610.00 |
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Total for Year |
Last Week |
$0.00 |
$0.00 |
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Stocks Trading Room Performance for March 11, 2010
Futures Trading Room Performance for March 11, 2010
Forex Trading Room Performance for March 11, 2010
Daily Swing Trades Performance for March 11, 2010
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