Books
|
|  |  |
|
Daily Market Commentary for July 31, 2009
|
Current
Economic Recession
Many experts believe with all of the positive
data being released in the past couple of weeks, the current economic recession
way be coming to an end. Government reports show the economy dropped only 1% in
the second quarter, better than the expected 1.5% economists were predicting.
"Our first mission in coming to office was to rescue the economy, to stop the
slippage, to prevent it from going over the edge," White House press secretary
Robert Gibbs said of the new GDP figures.Many think the contraction was because
a decline in exports and business inventories and a rise in government spending
and consumer prices. Government spending grew by 10.9% while business spending
fell by 8.9%, better than the 39.2% drop in the first quarter. President Obama
cautioned everyone, saying Friday afternoon at a news conference that the
economy has not yet begun to recover, but the GDP numbers were "encouraging." We
won't have a recovery as long as we're losing jobs, [but] you need to have
economic growth before you have job growth," said Obama. "Today's GDP is an
encouraging sign that the economy is heading in the right direction. That means,
eventually, businesses will start growing and will start hiring again. But this
won't happen overnight."
One of the major factors in the shape of the recovery will be how consumers act
in the next couple of months, spending accounts for the largest percent of
economic activity. Traders took the good news on the economy today and ran with
it today sending stocks higher, Dow Jones Industrial was close to having it's
best month since October of 2002. U.S. dollar fell as bond prices rose along
with gold and crude oil.
International Monetary Fund (IMF)
Official:
French government must recapitalize banks
as necessary; French financial sector is under strain; French banking sector
still facing "significant" risks; economic crisis affected France less than Euro
area; French social safety net soothed economic slump; France must look at
sustainability of public debt.
Dow Jones U.S. Economic Sentiment Indicator:
July ESI shows continued modest improvement of 33.6 versus June 31.8; July ESI
suggests U.S. recovery in 4Q 2009; ESI indicates still risk of U.S. economy
relapsing.
Economic data released today:
GDP Price Index:
US GDP fell 1.0% rate in 2Q compared to consensus of a drop by 1.5%; Real Final
Sales fell 0.2% in 2Q; PCE Price Index rose 1.3% rate in 2Q; Domestic Purchases
Price Index rose 0.7% rate in 2Q; Chain-Weighted Price Index rose 0.2% rate in
2Q.
Employment Cost Index (ECI):
U.S. 12-Month ECI gain smallest on record; U.S. 2Q Employment Cost Index rose
0.4% compared to consensus of an increase by 0.3%; U.S. 2Q Employment Cost Index
rose 1.8% from year ago.
Chicago PMI (Chicago Purchasing Management):
U.S. Chicago PMI Adjusted July Index 43.4 versus June 39.9; U.S.
Chicago PMI July Prices Paid Index 35.0 versus Jun 36.3; U.S. Chicago PMI July
Supplier Deliveries 49.6 versus June 43.1; U.S. Chicago PMI July Employment
Index 35.3 versus Jun 28.9; U.S. Chicago PMI July New Orders Index 48.0 versus
Jun 41.6.
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 14.89 points, EOD 9,169.35
NYSE (New York Stock
Exchange) gain 39.97, EOD 6,424.28
National Association of Securities Dealers Automated Quotations (NASDAQ)
shed 5.06 points, EOD 1,979.24
S&P 500 (SPX) gain 0.35 points, EOD 987.10
BEL 20 (BEL20) gain 14.05 points, EOD 2,169.14
CAC 40 (CAC40) shed 9.22 points, EOD 3,426.27
FTSE100 (UKX100) shed 23.25 points, EOD 4,608.36
NIKKEI 225 (NIK/O) triple digit gain 191.62 points, EOD 10,356.83
New York Stock Exchange (NYSE) stock market indicators for the trading session
today:
Advanced stock prices 1,919, declined stock prices 1,180, unchanged
stock prices 97, stock prices hitting new highs 116 and stock prices hitting new
lows 14. 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: BEZ shed 1.84,
HOD 27.38, LOD 25.74, EOD 25.76; MA shed 0.08, HOD 197.88, LOD 192.46, EOD
194.03; RTP no change 0.00, HOD N/A, LOD N/A, EOD 161.61; NUE gain 0.54, HOD
45.00, LOD 43.50, EOD 44.47; CME gain 2.04, HOD 283.20, LOD 273.84, EOD 278.83.
National Association of Securities Dealers Automated Quotations (NASDAQ) stock
market indicators for the trading session today:
Advanced stock prices 1,331, declined stock prices 1,388, unchanged
stock prices 129, stock prices hitting new highs 71 and stock prices hitting new
lows 6. 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: PDLI shed 0.52, HOD 8.64, LOD 8.14,
EOD 8.24; SYNA shed 11.88, HOD 26.94, LOD 23.92, EOD 23.97; GPRO shed 4.94, HOD
38.46, LOD 35.70, EOD 37.12; VPRT shed 1.89, HOD 41.89, LOD 39.50, EOD 41.25;
FSLR shed 19.16, HOD 158.94, LOD 153.14, EOD 153.14; BIDU shed 3.66, HOD 355.40,
LOD 346.27, EOD 348.14; GENZ shed 4.36, HOD 56.72, LOD 51.50, EOD 51.89; CYOU
gain 0.66, HOD 37.95, LOD 35.50, EOD 36.75; USTR gain 5.94, HOD 48.11, LOD
44.13, EOD 46.42.
Market trends on the American Stock Exchange (AMEX) and stock market indicators
for the trading session today:
Advanced stock prices 361, declined stock prices 170, unchanged stock
prices 57, stock prices hitting new highs 19 and stock prices hitting new lows
2.
Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Sept 09: EOD 983.25; Change 1.00
E-mini NASDAQ-100 (NQ) Sept 09: EOD 1,601.75; Change -5.00
E-mini DOW $5 (YM) Sept 09: EOD 9,113; Change 23
E-mini S&P MidCap 400 (MF) Sept 09: EOD 626.10; Change 1.90
Nikkei 225 (Yen) Sept 09: EOD 10,315; Change 10
World Currencies for the Forex Market, for Forex Trading by active Forex
Traders, at time of this posting:
Euro 0.7071 to U.S. Dollars 1.4251
Japanese Yen 94.6200 to U.S. Dollars 0.0106
British Pound 0.5987 to U.S. Dollars 1.6703
Canadian Dollar 1.0771 to U.S. Dollars 0.9284
Swiss Franc 1.0685 to U.S. Dollars 0.9359
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (September 09) gain $2.51, EOD $69.45 per barrel ($US per barrel)
Heating Oil (September 09) gain $0.04, EOD $1.83 a gallon ($US per
gallon)
Natural Gas (September 09) shed $0.09, EOD $3.65 per million BTU ($US
per mmbtu.)
Unleaded Gas (September 09) gain $0.06, EOD $2.01 a gallon ($US per gallon)
Metals Markets - Comex:
Gold (December 09) gain $18.50, EOD $955.80 ($US per Troy ounce)
Silver (September 09) gain $0.46, EOD $13.94 ($US per Troy ounce)
Platinum (October 09) gain $25.20, EOD $1,214.20 ($US per Troy ounce)
Copper (September 09) gain $0.06, EOD $2.63 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (October 09) gain $1.30, EOD $53.90
Pork Bellies (August 09) gain $1.25, EOD $62.25
Live Cattle (October 09) gain $0.35, EOD $90.20
Feeder Cattle (September 09) gain $0.28, EOD $102.55
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) gain $7.25, EOD $349.50
Soybeans (November 09) gain $11.00, EOD $982.00
BOND MARKET:
2 year EOD 99 25/32, change 0, Yield 1.11, Yield change -0.05
5 year EOD 100 16/32, change 17/32, Yield 2.51, Yield change -0.11
10 year EOD 97 2/32, change 1 1/32, Yield 3.48, Yield change -0.12
30 year EOD 98 31/32, change 1 21/32, Yield 4.31, change -0.10
Access upcoming scheduled economic data anytime by viewing the
Economic Calendar from Millennium-Traders, free access to visitors
on our website.
Visitors may subscribe to our free
Weekly MarketNews 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
News & Commentary plus, view complete details of calls made in our
Trading Rooms and stock picks from our Swing Trading service. Traders should
review our FREE
Monthly Trading Lesson posted on our website.
|
|
Top of the page | |
| |
Total for Year |
Last Week |
$34,086.00 |
$8,234.00 |
|
| |
Total for Year |
Last Week |
$9,725.00 |
$1,970.00 |
|
| |
Total for Year |
Last Week |
$76,500.00 |
$10,200.00 |
|
| |
Total for Year |
Last Week |
$102,270.00 |
$13,630.00 |
|
| |
Total for Year |
Last Week |
$0.00 |
$0.00 |
|
|
|
