Inflation

Inflation, something we can't avoid but something we can't afford in the times we're in. Inflation is the word on everyone's minds, are they going to raise prices, or are they going to let everything alone.  "Inflation will remain subdued for some time," the central bank said in a written statement. Investors on the other hand are putting their money in commodities such as gold and platinum because they hold their value during inflation.  In the economic strain we're in inflation would do nothing but hurt the average American, the dollar wouldn't stretch very far and peoples  income would not increase, making it harder for them to retire. Other than the obvious reasons, it would decrease the amount of the dollar, making it harder for Americans to travel abroad and would also make it harder to  buy imports. Inflation may not happen right now, but it a serious problem that everyone should be afraid of.

Economic data released today:

Initial Jobless Claims: 

U.S. Jobless Claims rose 15K to 627K for week of June 20 compared to Survey of a decrease by 3K; U.S. June 13 Week Continuing Claims rose 29K to 6,738,000.

GDP Price Index:

U.S. GDP fell to a 5.5% rate in 1Q compared to a consensus of 5.7%; Real Final Sales fell -3.3% in 1Q from -3.4%; PCE Price Index revised to fall 0.9% rate in 1Q; Purchases Price Index fell 1.0% rate in 1Q, unrevised From Preliminary report; Chain-Weighted Price Index +2.8% in 1Q, unrevised from preliminary; Corporate Profits up 13.2% versus -28.4% in 4Q; Corporate Profits Revised to +13.2% from +12.9% in 1Q.

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) triple digit gain 172.52 points, EOD 8,472.40
NYSE (New York Stock Exchange) triple digit gain 115.31, EOD 5,911.03
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 37.2 points, EOD 1,829.54
S&P 500 (SPX) gain 19.32 points, EOD 920.26

BEL 20 (BEL20) shed 0.62 points, EOD 2,015.68
CAC 40 (CAC40) shed 21.66 points, EOD 3,163.10
FTSE100 (UKX100) shed 27.41 points, EOD 4,252.57

NIKKEI 225 (NIK/O) Triple Digit Gain 205.76 points, EOD 9,796.08

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 2,478, declined stock prices 602, unchanged stock prices 88, stock prices hitting new highs 18 and stock prices hitting new lows 8.

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: MON gain 0.32, HOD 23.92, LOD 23.20, EOD 23.79; ESI gain 3.53, HOD 97.38, LOD 92.15, EOD 96.42; POT gain 0.10, HOD 93.86, LOD 91.32, EOD 93.52; LM gain 0.09, HOD 26.74, LOD 23.61, EOD 24.57; CME gain 1.62, HOD 317.36, LOD 306.50, EOD 315.56; AZO gain 3.29, HOD 152.09, LOD 148.00, EOD 152.09; STX shed 0.37, HOD 9.95, LOD 9.43, EOD 9.50; RTP gain 2.90, HOD 165.98, LOD 158.83, EOD 165.80; SKF shed 1.66, HOD 45.16, LOD 42.59, EOD 42.59.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 2,212, declined stock prices 532, unchanged stock prices 101, stock prices hitting new highs 38 and stock prices hitting new lows 8.

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 9.80, HOD 293.15, LOD 278.23, EOD 293.15; APOL gain 0.98, HOD 59.42, LOD 58.00, EOD 59.34;  BBY gain 2.69, HOD 31.48, LOD 29.98, EOD 31.08; JAZZ gain 1.23, HOD 5.27, LOD 4.40, EOD 4.48; ACXM shed 2.45, HOD 9.26, LOD 8.68, EOD 8.92; PAYX shed 1.65, HOD 25.38, LOD 24.06, EOD 25.06; ACXM shed 2.45, HOD 9.26, LOD 8.68, EOD 8.92; FSLR shed 11.71, HOD 168.80, LOD 158.15, EOD 159.48.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 360, declined stock prices 175, unchanged stock prices 44, stock prices hitting new highs 8 and stock prices hitting new lows 9.

Chicago Board of Trade Futures Market for the day, at time of this posting:

E-mini S&P 500 (ES) Sept 09: EOD 916.50; Change 0.00

E-mini NASDAQ-100 (NQ) Sept 09: EOD 1,473.00; Change 0.00
E-mini DOW $5 (YM) Sept 09: EOD 8,415; Change 1
E-mini S&P MidCap 400 (MF) Sept 09: EOD 573.40; Change 0.40

Nikkei 225 (Yen) Sept 09: EOD 9,905; Change 260

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7148 to U.S. Dollars 1.3990
Japanese Yen 95.8800 to U.S. Dollars 0.0104
British Pound 0.6111 to U.S. Dollars 1.6365
Canadian Dollar 1.1551 to U.S. Dollars 0.8657
Swiss Franc 1.0936 to U.S. Dollars 0.9144

COMMODITY MARKETS:
Energy Sector - Nymex:

Light Crude (August 09) gain $1.56, EOD $70.23 per barrel ($US per barrel)
Heating Oil (August 09) gain $0.04, EOD $1.82 a gallon ($US per gallon)
Natural Gas (August 09) gain $0.08, EOD $3.99 per million BTU ($US per mmbtu.)
Unleaded Gas (July 09) gain $0.06, EOD $1.90 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (August 09) gain $5.10, EOD $939.50 ($US per Troy ounce)
Silver (September 09) gain $0.09, EOD $14.03 ($US per Troy ounce)
Platinum (October 09) gain $21.80, EOD $1,197.00 ($US per Troy ounce)
Copper (September 09) gain $0.04, EOD $2.32 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (August 09) shed 0.03, EOD 58.80
Pork Bellies (August 09) shed 1.25, EOD 60.05
Live Cattle (August 09) gain 0.08, EOD 82.55
Feeder Cattle (August 09) no change, EOD 98.95

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) shed 5.75, EOD 401.50

Soybeans (November 09) shed 6.00, EOD 1,002.00

BOND MARKET:

2 year EOD 100, change 5/32, Yield 1.12, Yield change -0.07
5 year EOD 100 6/32, change 17.15/32, Yield 2.57, Yield change -0.15
10 year EOD 96 18/32, change 1 7/32, Yield 3.53, Yield change -0.15
30 year EOD 98 27/32, change 1 25/32, Yield  4.31, change -0.11

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.