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Daily Market Commentary for July 20, 2010
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Goldman Sachs Group
Goldman Sachs Group reported worse than
expected earnings for the second quarter. This morning, the investment bank
reported quarterly earnings of $3.8 billion, down from the $6.6 billion they
earned in the same quarter a year earlier. That was excluding payments made
during the quarter; after paying, earnings for Goldman were down 83% to $613
million, or $0.78 per share. Analysts were expecting earnings of around $2.00
per share. Goldman Sachs paid $600 million related to the U.K. bank payroll tax
and also the $550 million settlement they owed the Securities and Exchange
Commission. The company credits the decline to a couple of different reasons;
they said its trading business has slowed down drastically, they saw revenue
fall 40% in that department. Another reason for the fall was a 36% decline in
their investment banking department. In a statement, CEO Lloyd Blankfein said,
"The market environment became more difficult during the second quarter and, as
a result, client activity across our businesses declined." Today, the Labor
Department reported unemployment has started to decrease in 39 states, but
despite the good news stocks fell throughout the morning session. Dow Jones went
from being down over 50 points in the morning to being up over 30 points with
just an hour left in the trading day. Commodity prices rose; gold rose $9.80 to
$1,191.50 and crude oil rose $0.90 to $77.44 per barrel.
Economic data released today:
Building Permits:
Building Permits rose 2.1% to 586K Rate in June.
Housing Starts:
May Housing Starts Revised to -14.9% from a decrease by 10.0%; U.S. June
Housing Starts fell 5.0% to 549K; Compared to Consensus of a decrease by 3.2%.
Redbook:
U.S. Retail Sales rose 2.7% Week Ended July 17 versus a Year Ago; U.S.
Retail Sales First 2 Weeks of July rose 2.9% versus July a Year-Ago; U.S. Retail
Sales First 2 Weeks of July fell 0.6% versus June.
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 74.21 points, EOD 10,228.64
NYSE (New York Stock
Exchange) gain 78.60, EOD 6,818.24
National Association of Securities Dealers Automated Quotations (NASDAQ)
gain 23.27 points, EOD 2,221.50
S&P 500 (SPX) gain 12 points, EOD 1,083.25
BEL 20 (BEL20) shed 14.22 points, EOD 2,417.34
CAC 40 (CAC40) shed 18.31 points, EOD 3,468.02
FTSE100 (UKX100) shed 8.82 points, EOD 5,139.46
NIKKEI 225 (NIK/O) shed 107.9 points, EOD 9,300.46
New York Stock Exchange (NYSE) stock market indicators for the trading session
today:
Advanced stock prices 2,477, declined stock prices 599, unchanged stock
prices 87, stock prices hitting new highs 128 and stock prices hitting new lows
47. 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:
GS
gain 3.23, HOD 149.73, LOD 141.55, EOD 148.91; MA
gain 8.96, HOD 205.38, LOD 193.00, EOD 204.79; BP
shed 0.59, HOD 35.98, LOD 34.79, EOD 35.16; CME
gain 7.79, HOD 275.95, LOD 265.06, EOD 275.26; IBM
shed 3.37, HOD 126.42, LOD 122.93, EOD 126.42; NE
gain 1.37, HOD 32.41, LOD 29.03, EOD 32.05; TUP
shed 3.31, HOD 40.39, LOD 36.12, EOD 39.96.
National Association of Securities Dealers Automated Quotations (NASDAQ) stock
market indicators for the trading session today:
Advanced stock prices 1,864, declined stock prices 782, unchanged stock
prices 132, stock prices hitting new highs 23 and stock prices hitting new lows
76. 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: AAPL
gain 6.39, HOD 252.88, LOD 240.01, EOD 251.97; UPRO
gain 4.07, HOD 132.17, LOD 122.40, EOD 131.88; BIDU
gain 1.14, HOD 74.23, LOD 70.75, EOD 74.04; UAUA
gain 1.02, HOD 22.50, LOD 21.16, EOD 22.20; PCLN
gain 1.46, HOD 221.85, LOD 216.03, EOD 221.51; FSLR
gain 4.67, HOD 137.21, LOD 128.31, EOD 136.22; ZION
shed 1.91, HOD 20.47, LOD 19.29, EOD 19.51.
Market trends on the American Stock Exchange (AMEX) and stock market indicators
for the trading session today:
Advanced stock prices 293, declined stock prices 179, unchanged stock
prices 39, stock prices hitting new highs 10 and stock prices hitting new lows
10.
Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1079.00; Change 15.25
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,836.75; Change 31.25
E-mini DOW $5 (YM) Mar 10: EOD 10,171; Change 111
E-mini S&P MidCap 400 (MF) Mar 10: EOD 740.50; Change 13.10
Nikkei 225 (Yen) Mar 10: EOD 9,395; Change 125
World Currencies for the Forex Market, for Forex Trading by active Forex
Traders, at time of this posting:
Euro 0.7755 to U.S. Dollars 1.2900
Japanese Yen 87.3750 to U.S. Dollars 0.0114
British Pound 0.6543 to U.S. Dollars 1.5300
Canadian Dollar 1.0472 to U.S. Dollars 0.9567
Swiss Franc 1.0521 to U.S. Dollars 0.9502
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (August 10) gain $0.90, EOD $77.40 per barrel ($US per barrel)
Heating Oil (August 10) gain $0.00, EOD $2.02 a gallon ($US per gallon)
Natural Gas (August 10) gain $0.08, EOD $4.59 per million BTU ($US per mmbtu.)
Unleaded Gas (August 10) gain $0.01, EOD $2.08 gallon ($US per gallon)
Metals Markets - Comex:
Gold (July 10) gain $9.80, EOD $1,191.50 ($US per Troy ounce)
Silver (July 10) gain $0.15, EOD $17.68 ($US per Troy ounce)
Platinum (July 10) gain $4.90, EOD $1,514.30 ($US per Troy ounce)
Copper (July 10) gain $0.06, EOD $3.00 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (August 10) shed $1.60, EOD $80.02
Pork Bellies (July 10) gain $3.00, EOD $108.50
Live Cattle (August 10) unchanged, EOD $93.12
Feeder Cattle (August 10) gain $0.05, EOD $114.48
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (July 10) shed $7.50, EOD $374.00
Soybeans (July 10) gain $3.75, EOD $1,011.75
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 |
|
| |
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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News & Commentary
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Stocks Trading Room Performance for September 1, 2010
Futures Trading Room Performance for September 1, 2010
Forex Trading Room Performance for September 1, 2010
Daily Swing Trades Performance for September 1, 2010
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