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Daily Market Commentary for March 1, 2010
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American International Group
American International Group announced Monday that it was going to sell its
division called AIA Group. This move will be the company's largest asset sale
since the credit crisis started. AIG will sell its Asian life insurance business
to Britain's Prudential PLC, the deal will be worth $35.5 billion, $25 billion
will be in cash. AIG has received around $132 billion in government bailout
since 2008, so the company was counting on this deal to help repay some of its
debt. According to reports, at the end of 2009 AIG had still owed $129.3 billion
in government aid. The company plans to pay $16 billion to the government, who
will then buy back preferred shares given during the crisis. In a statement, AIG
Chief Executive Bob Benmosche said that the deal will allow AIG "to realize
value on a faster track to repay U.S. taxpayers" and will also give the company
"greater flexibility." AIG is in the process or restructuring and reorganizing
the company so they can get back on track. During the trading session shares of
AIG rose over 10%. On Friday, the company reported a fourth-quarter loss of $8.9
billion. AIG said a lot of their fourth-quarter loss came from its sale of large
stakes in AIA and Alico to the U.S. government, the government reduced AIG's
taxpayer debt by $25 billion. At the end of the sale, AIG had to pay a $5.2.
Stocks started the month off on a good foot with news from AIG and some mixed
economic data. Commodity prices were mixed, gold fell $0.60 to $1,118.30 and
crude oil fell $0.92 to $78.74; bond prices were unchanged.
Comments from Jeffrey Lacker, President, Federal Reserve Bank of Richmond:
Altering Fed supervisory powers would be misguided; Government safety net
needs clear boundaries; Institutions need tougher capital, liquidity
requirements; Altering Fed supervisory powers would be misguided; Fed does good
job of consumer protection; Real regulatory reform needs to address GSEs.
Economic data released today:
Core PCE Price Index:
January PCE Price Index rose 0.2% Rate on Month; January PCE Price Index
rose 2.1% on Year; January PCE Core Price Index Unchanged Rate on Month; January
PCE Core Price Index rose 1.4% on Year.
Personal Spending / Personal Income:
U.S. Personal Income rose 0.1% in January; Compared to Consensus of an
increase by 0.4%; U.S. Personal Spending rose 0.5% in January; Compared to
Consensus of an increase by 0.4%; December Personal Income Revised to rise 0.3%
from an increase by 0.4%; December Spending Revised to rise 0.3% from an
increase by 0.2%.
ISM [Institute for Supply Management] Manufacturing:
U.S. ISM February Inventories Index 47.3 versus January 46.5; U.S. ISM
February Production Index 58.4 versus January 66.2; U.S. ISM February New Orders
Index 59.5 versus January 65.9; U.S. ISM February Employment Index 56.1 versus
January 53.3; U.S. ISM February Prices Index 67.0 versus January 70.0; U.S. ISM
February Manufacturing PMI Expected 57.5; U.S. ISM February Manufacturing PMI
56.5 versus January 58.4.
Construction Spending;
December Construction Spending Unrevised at -1.2%; January Commercial
Construction Spending fell 1.4%; January Residential Construction Spending rose
1.1%.
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 77.92 points, EOD 10,403.18
NYSE (New York Stock
Exchange) gain 65.71, EOD 7,100.75
National Association of Securities Dealers Automated Quotations (NASDAQ)
gain 34.56 points, EOD 2,272.82
S&P 500 (SPX) gain 11.07 points, EOD 1,115.56
BEL 20 (BEL20) gain 28.54 points, EOD 2,543.41
CAC 40 (CAC40) gain 60.74 points, EOD 3,769.54
FTSE100 (UKX100) unchanged, EOD 5,278.22
NIKKEI 225 (NIK/O) gain 46.03 points, EOD 10,172.06
New York Stock Exchange (NYSE) stock market indicators for the trading session
today:
Advanced stock prices 2,428 declined stock prices 699 unchanged stock
prices 88, stock prices hitting new highs 313 and stock prices hitting new lows
10. 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: AIG gain 1.01, HOD
27.98, LOD 25.78, EOD 25.78; FAS gain 0.85, HOD 76.50, LOD 75.10, EOD 75.81; DDS
gain 3.16, HOD 20.17, LOD 17.52, EOD 20.03; IPI gain 0.99, HOD 28.53, LOD 26.65,
EOD 28.51; CME shed 0.66, HOD 302.99, LOD 297.50, EOD 301.03; RTP gain 2.86, HOD
211.00, LOD 206.26, EOD 210.66; EDC gain 4.84, HOD 113.00, LOD 109.72, EOD
112.31; POT gain 2.49, HOD 113.29, LOD 110.68, EOD 112.95; MG shed 2.18, HOD
13.51, LOD 10.43, EOD 11.46; MA gain 8.37, HOD 232.86, LOD 225.38, EOD 232.74.
National Association of Securities Dealers Automated Quotations (NASDAQ) stock
market indicators for the trading session today:
Advanced stock prices 2,047, declined stock prices 701, unchanged stock
prices 97, stock prices hitting new highs 199 and stock prices hitting new lows
19. 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: AMZN gain 6.14, HOD 124.66, LOD 117.53, EOD
124.54; PCLN gain 11.83, HOD 238.99, LOD 227.64, EOD 238.54; AAPL gain 4.37, HOD
209.50, LOD 205.45, EOD 208.99; ISRG gain 11.49, HOD 359.15, LOD 349.08, EOD
358.63; PWRD shed 3.50, HOD 37.39, LOD 35.02, EOD 35.89; DECK gain 2.60, HOD
124.27, LOD 120.00, EOD 122.80.
Market trends on the American Stock Exchange (AMEX) and stock market indicators
for the trading session today:
Advanced stock prices 312, declined stock prices 189, unchanged stock
prices 33, stock prices hitting new highs 28 and stock prices hitting new lows
4.
Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1114.00; Change 10.50
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,844.50; Change 26.00
E-mini DOW $5 (YM) Mar 10: EOD 10,386; Change 75
E-mini S&P MidCap 400 (MF) Mar 10: EOD 749.90; Change 12.20
Nikkei 225 (Yen) Mar 10: EOD 10,225; Change 65
World Currencies for the Forex Market, for Forex Trading by active Forex
Traders, at time of this posting:
Euro 0.7375 U.S. Dollars 1.3559
Japanese Yen 89.0800 to U.S. Dollars 0.0112
British Pound 0.6672 to U.S. Dollars 1.4989
Canadian Dollar 1.0419 to U.S. Dollars 0.9598
Swiss Franc 1.0791 to U.S. Dollars 0.9267
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (April 10) shed $0.92, EOD $78.74 per barrel ($US per barrel)
Heating Oil (April 10) shed $0.01, EOD $2.02 a gallon ($US per gallon)
Natural Gas (April 10) shed $0.13, EOD $4.68 per million BTU ($US per
mmbtu.)
Unleaded Gas (April 10) shed $0.03, EOD $2.16 gallon ($US per gallon)
Metals Markets - Comex:
Gold (April 10) shed $0.60, EOD $1,118.30 ($US per Troy ounce)
Silver (May 10) shed $0.06, EOD $16.46 ($US per Troy ounce)
Platinum (April 10) gain $5.30, EOD $1,545.20 ($US per Troy ounce)
Copper (May 10) gain $0.06, EOD $3.34 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (April 10) gain $0.15, EOD $72.95
Pork Bellies (May 10) gain $2.90, EOD $94.20
Live Cattle (April 10) shed $0.20, EOD $91.73
Feeder Cattle (April 10) gain $1.15, EOD $103.65
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (May 10) shed $7.25, EOD $381.75
Soybeans (May 10) gain $2.00, EOD $962.50
BOND MARKET:
2 year EOD 100 4/32, change 1/32, Yield 0.80, Yield change -0.01
5 year EOD 100 13/32, change 3/32, Yield 2.28 Yield change -0.02
10 year EOD 100 5/32, -3/32, Yield 3.60 Yield change 0.01
30 year EOD 101 4/32, change 0, Yield 4.55, change 0.00
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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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Stocks Trading Room Performance for July 29, 2010
Futures Trading Room Performance for July 29, 2010
Forex Trading Room Performance for July 29, 2010
Daily Swing Trades Performance for July 29, 2010
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