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Daily Market Commentary for July 21, 2010
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Wall Street Reform Bill
Today, President Obama signed
the Wall Street reform bill into law. President Obama has been working alongside
others for over a year on the bill; now that is has been made law, it is the
largest financial overhaul since the Great Depression. Regulators will have more
power to break up "too big to fail" companies starting immediately. President
Obama spoke today at the Ronald Reagan Building to a crowd of hundreds of people
saying, "Because of this law, the American people will never again be asked to
foot the bill for Wall Street's mistakes, there will be no more taxpayer-funded
bailouts. Period." He went on to say, "If a large financial institution should
ever fail, this reform gives us the ability to wind it down without endangering
the broader economy." Federal Reserve Chairman Ben Bernanke also spoke today; he
spoke to congress about his outlook on the economy. He warned members of
Congress that economic outlooks remain "unusually uncertain", and that the Fed
may start to stop pumping trillions of dollars into the economy. Chairman
Bernanke expects to see unemployment to drop at a slower pace than originally
thought, the Chairman said, "In all likelihood, a significant amount of time
will be required to restore the nearly 8.5 million jobs that were lost over 2008
and 2009." Stocks fell triple digits today when Bernanke gave his outlook on the
economy; the Dow was down over 100 points in the morning. Today's selloff
continued throughout the afternoon; with less than a half hour left in the
trading session, the Dow was down over 120 points. Commodity prices rose; gold
rose $0.10 to $1,191.60 and crude oil fell $1.10 to $76.56 per barrel.
Economic data released today:
MBA Mortgage Applications:
U.S. MBA Refinance Index rose 8.6% at 4,161.9; Last Week 3,831.2; U.S. MBA
Purchase Index rose 3.4% at 168.9; Last Week 163.3; U.S. MBA Market Index rose
7.6% at 753.5; Last Week 700.3.
Crude Oil Inventories:
U.S. Refineries Ran at 91.5% capacity; Was Seen at 90.20% capacity; U.S.
Refineries Ran at 91.5% capacity versus 90.5% capacity Week Ago; U.S. Distillate
Stockpiles rose 3.935 Million Barrels in Week; Was Seen Increasing by 1.6
Million Barrels; U.S. Distillate Stockpiles rose 3.935 Million Barrels at
166.575 Million Barrels; U.S. Gasoline Stockpiles rose 1.118 Million Barrels in
Week; Was Seen Increasing by 0.7 Million Barrels; U.S. Gasoline Stockpiles rose
1.118 Million Barrels at 222.154 Million Barrels; U.S. Crude Oil Stockpiles rose
0.36 Million Barrels in Week; Was Seen Decreasing by 1.3 Million Barrels; U.S.
Crude Oil Stockpiles rose 0.36 Million Barrels at 353.456 Million Barrels.
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 109.43 points, EOD 10,120.53
NYSE (New York Stock
Exchange) shed 88.94, EOD 6,731.10
National Association of Securities Dealers Automated Quotations (NASDAQ)
shed 36.53 points, EOD 2,185.96
S&P 500 (SPX) shed 13.97 points, EOD 1,069.51
BEL 20 (BEL20) gain 34.59 points, EOD 2,451.93
CAC 40 (CAC40) gain 25.9 points, EOD 3,493.92
FTSE100 (UKX100) gain 75.18 points, EOD 5,214.64
NIKKEI 225 (NIK/O) shed 21.63 points, EOD 9,278.83
New York Stock Exchange (NYSE) stock market indicators for the trading session
today:
Advanced stock prices 1,026, declined stock prices 2,066, unchanged stock
prices 74, stock prices hitting new highs 145 and stock prices hitting new lows
29. 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:
BP
gain 0.93, HOD 36.65, LOD 35.67, EOD 36.13; BLK
shed 5.93, HOD 150.99, LOD 141.01, EOD 143.43; CME
shed 2.07, HOD 276.84, LOD 272.83, EOD 273.17; RIG
shed 1.26, HOD 49.89, LOD 47.30, EOD 47.74; CYT
gain 7.07, HOD 50.95, LOD 47.50, EOD 49.86; VMW
gain 0.64, HOD 75.00, LOD 72.05, EOD 73.06.
National Association of Securities Dealers Automated Quotations (NASDAQ) stock
market indicators for the trading session today:
Advanced stock prices 688, declined stock prices 1,983, unchanged stock
prices 122, stock prices hitting new highs 26 and stock prices hitting new lows
55. 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 2.71, HOD 265.15, LOD 254.00, EOD 254.60; CMTL
shed 10.00, HOD 31.52, LOD 20.80, EOD 21.30; ISRG
shed 9.99, HOD 329.94, LOD 314.00, EOD 316.10; BIDU
shed 0.73, HOD 76.58, LOD 73.00, EOD 73.31; NTRS
shed 2.16, HOD 50.15, LOD 46.98, EOD 47.16; GENZ
gain 0.36, HOD 54.80, LOD 52.00, EOD 52.62; GILD
shed 0.10, HOD 33.44, LOD 31.73, EOD 32.90.
Market trends on the American Stock Exchange (AMEX) and stock market indicators
for the trading session today:
Advanced stock prices 207, declined stock prices 283, unchanged stock
prices 34, stock prices hitting new highs 15 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 1064.75; Change -15.25
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,814.50; Change -25.25
E-mini DOW $5 (YM) Mar 10: EOD 10,059; Change -119
E-mini S&P MidCap 400 (MF) Mar 10: EOD 729.50; Change -10.70
Nikkei 225 (Yen) Mar 10: EOD 9,200; Change -180
World Currencies for the Forex Market, for Forex Trading by active Forex
Traders, at time of this posting:
Euro 0.7834 to U.S. Dollars 1.2800
Japanese Yen 87.0050 to U.S. Dollars 0.0114
British Pound 0.6592 to U.S. Dollars 1.5200
Canadian Dollar 1.0484 to U.S. Dollars 0.9540
Swiss Franc 1.0509 to U.S. Dollars 0.9513
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (September 10) shed $1.02, EOD $76.56 per barrel ($US per barrel)
Heating Oil (August 10) shed $0.03, EOD $1.99 a gallon ($US per gallon)
Natural Gas (August 10) shed $0.07, EOD $4.51 per million BTU ($US per mmbtu.)
Unleaded Gas (August 10) shed $0.01, EOD $2.07 gallon ($US per gallon)
Metals Markets - Comex:
Gold (July 10) gain $0.10, EOD $1,191.60 ($US per Troy ounce)
Silver (July 10) gain $0.11, EOD $17.80 ($US per Troy ounce)
Platinum (July 10) gain $10.50, EOD $1,524.80 ($US per Troy ounce)
Copper (July 10) gain $0.08, EOD $3.09 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (August 10) gain $1.47, EOD $81.50
Pork Bellies (July 10) gain $3.00, EOD $111.50
Live Cattle (August 10) gain $0.37, EOD $93.50
Feeder Cattle (August 10) gain $0.17, EOD $114.65
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (September 10) gain $5.75, EOD $379.75
Soybeans (August 10) gain $3.50, EOD $1,015.25
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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Weekly Market News for a review of the previous weeks trading news
plus, view upcoming economic data scheduled for the week ahead.
Review current edition as well as, archives of 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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News & Commentary
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Forex Trading Room Performance for September 2, 2010
Daily Swing Trades Performance for September 2, 2010
Daily Market Commentary for September 1, 2010
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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