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Daily Market Commentary for March 10, 2010
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OPEC
OPEC or Organization of the Petroleum
Exporting Countries announced today they were raising its 2010 forecast for
global oil demand. In the report, the Organization said global oil demand rose
to 85.24 million barrels per day, that's
around 100,000 barrels per day higher than they forecasted in their February
report. Also in today's report, the company said its suppliers will need to
produce 28.9 million barrels of oil a day to meet this year's growing demand. In
the February report they forecasted the demand would be around 190,000 barrels a
day less than its current demand. OPEC said in the report that world oil demand
is expected to grow by 900,000 barrels a day in 2010, they said its forecast is
dependant on a prolonged global economic recovery. If
the demand for oil continues to rise oil prices will
also continue to rise. If both of these things happen higher gasoline prices are
inevitable. Analysts predict seeing prices rise above the $3 a gallon mark
moving into the summer months.In company news, J. Crew reported late Tuesday
better than expected fourth-quarter profit of. $40.4 million, or 61 cents per
share, a turnaround from last year's loss of 22 cents per share. Analysts had
expected earnings of 46 cents per share. The report showed that sales rose 19%
to $460.6 million, beating analysts forecasts of $443 million. Stocks
were on the rise again today, trading volume was relatively low today but picked
up slightly toward the end of the session. Commodity prices were mixed, gold
fell $14.10 to $1,108.20 and crude oil rose $0.35 to $81.84. Bond prices fell,
the yield on the benchmark 10-year note rose to 3.71 from 3.67 Tuesday.
Economic data released today:
MBA Mortgage Applications:
U.S. MBA Market Index rose 0.5% at 633.1; Last Week 629.9; U.S. MBA Purchase
Index rose 5.7% at 226.8; Last Week 214.5; U.S. MBA Refinance Index fell 1.5% at
3,007.2; Last Week 3,054.3.
Wholesale Inventories (MoM):
U.S. January Wholesale Sales rose 1.3%; Increase is 10th in a Row; U.S.
January Wholesale Inventories fell 0.2%; Expected to rise 0.2%.
Crude Oil Inventories as released by DOE [Department of Energy}:
U.S. Refineries Ran at 80.73% capacity; was seen 82.00%; U.S. Gasoline
Stockpiles fell 2.9 Million Barrels at 229.0 Million Barrels; U.S. Refineries
Ran at 80.73% capacity versus 81.87% week ago; U.S. Crude Oil Stocks rose 1.4
Million Barrels in week; was seen increasing by 1.7 Million Barrels.
Federal Budget Balance:
U.S Government Deficit in Feb is Largest Monthly Shortfall Ever; U.S.
Government Deficit in February is 17th Straight; U.S. Government Posted $220.91
Billion Total Budget Deficit in February; U.S. Government Deficit FY2010 to Date
$651.60B, rose 10.5%.
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) gain 3.63 points, EOD 10,568.01
NYSE (New York Stock
Exchange) gain 33.67, EOD 7,327.69
National Association of Securities Dealers Automated Quotations (NASDAQ)
gain 17.55 points, EOD 2,358.23
S&P 500 (SPX) gain 5.05 points, EOD 1,145.50
BEL 20 (BEL20) gain 27.85 points, EOD 2,634.16
CAC 40 (CAC40) gain 33.54 points, EOD 3,943.55
FTSE100 (UKX100) gain 38.27, EOD 5,640.57
NIKKEI 225 (NIK/O) shed 14.2 points, EOD 10,563.92
New York Stock Exchange (NYSE) stock market indicators for the trading session
today:
Advanced stock prices 2,060, declined stock prices 1,030, unchanged stock
prices 111, stock prices hitting new highs 428 and stock prices hitting new lows
3. 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: FAS gain 2.83, HOD
89.00, LOD 86.03, EOD 87.67; AIG gain 3.47, HOD 37.34, LOD 33.20, EOD 36.24; EQT
shed 2.69, HOD 45.83, LOD 44.30, EOD 44.68; RTP gain 1.8433, HOD 227.38, LOD
222.16, EOD 224.50; CME shed 0.24, HOD 309.11, LOD 305.14, EOD 307.90; KCI gain
6.19, HOD 53.01, LOD 43.05, EOD 49.50; AGN gain 0.76, HOD 62.78, LOD 61.90, EOD
62.11; AEO gain 1.05, HOD 18.61, LOD 17.95, EOD 18.20; NAV shed 2.34, HOD 43.15,
LOD 41.10, EOD 41.91.
National Association of Securities Dealers Automated Quotations (NASDAQ)
stock market indicators for the trading session today:
Advanced stock prices 1,753, declined stock prices 973, unchanged
stock prices 112, stock prices hitting new highs 240 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: ITMN gain 15.09, HOD 39.50, LOD
37.36, EOD 38.39; AAPL gain 1.82, HOD 225.48, LOD 223.20, EOD 224.84; BIDU gain
10.07, HOD 551.50, LOD 541.55, EOD 549.17; FSLR gain 4.73, HOD 112.25, LOD
106.11, EOD 110.95; PSYS gain 5.09, HOD 30.02, LOD 23.78, EOD 29.00; AVAV shed
0.74, HOD 25.05, LOD 21.64, EOD 23.06.
Market trends on the American Stock Exchange (AMEX) and stock market indicators
for the trading session today:
Advanced stock prices 271, declined stock prices 219, unchanged stock
prices 35, stock prices hitting new highs 29 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 1144.75; Change 4.25
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,916.25; Change 15.00
E-mini DOW $5 (YM) Mar 10: EOD 10,558; Change -6
E-mini S&P MidCap 400 (MF) Mar 10: EOD 770.70; Change 6.20
Nikkei 225 (Yen) Mar 10: EOD 10,620; Change 35
World Currencies for the Forex Market, for Forex Trading by active Forex
Traders, at time of this posting:
Euro 0.7326 U.S. Dollars 1.3650
Japanese Yen 90.5200 to U.S. Dollars 0.0110
British Pound 0.6681 to U.S. Dollars 1.4967
Canadian Dollar 1.0258 to U.S. Dollars 0.9748
Swiss Franc 1.0704 to U.S. Dollars 0.9342
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (April 10) gain $0.35, EOD $81.84 per barrel ($US per barrel)
Heating Oil (April 10) gain $0.03, EOD $2.12 a gallon ($US per gallon)
Natural Gas (April 10) gain $0.06, EOD $4.57 per million BTU ($US per mmbtu.)
Unleaded Gas (April 10) gain $0.02, EOD $2.29 gallon ($US per gallon)
Metals Markets - Comex:
Gold (April 10) shed $14.10, EOD $1,108.20 ($US per Troy ounce)
Silver (May 10) shed $0.03, EOD $17.31 ($US per Troy ounce)
Platinum (April 10) shed $3.10, EOD $1,593.80 ($US per Troy ounce)
Copper (May 10) shed $0.04, EOD $3.37 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (April 10) gain $0.15, EOD $72.55
Pork Bellies (May 10) gain $0.20, EOD $93.00
Live Cattle (April 10) shed $0.60, EOD $91.73
Feeder Cattle (April 10) shed $1.00, EOD $105.03
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (May 10) shed $2.75, EOD $365.50
Soybeans (May 10) gain $11.25, EOD $958.00
BOND MARKET:
2 year EOD 90 30/32, change -2/32, Yield 0.90, Yield change 0.03
5 year EOD 99 31/32, change -6/32, Yield 2.37 Yield change 0.04
10 year EOD 99 7/32, change -4/32, Yield 3.71 Yield change 0.01
30 year EOD 98 31/32, change -6/32, Yield 4.68, change 0.01
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Top of the page | |
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Total for Year |
Last Week |
$296,530.00 |
$11,526.00 |
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Total for Year |
Last Week |
$184,983.71 |
$7,197.50 |
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Total for Year |
Last Week |
$407,600.00 |
$13,100.00 |
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Total for Year |
Last Week |
$344,560.00 |
$20,460.00 |
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Total for Year |
Last Week |
$0.00 |
$0.00 |
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