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Daily Market Commentary for March 5, 2010
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Unemployment Rate
Stocks rallied this morning on news that
the unemployment rate fell than expected. Labor Department reported that
employers cut 36,000 jobs, keeping the unemployment rate at 9.7%. Today's
numbers suggest that the job market is slowly starting to recover, analysts
expected last months snowstorms on the East Coast would affect the unemployment
rate. Analysts said economy the economy would have probably seen a gain of jobs
gain in February, only the second time in two years. Health care and business
industries showed very solid job growth, the report also showed the number of
temporary workers increased. The number of long-term unemployed fell for the
first time since November 2008, numbers fell to 6.1 million from 6.3 million.
Some bad news did come out of the report, it showed that the average work week
dropped to 33.8 hours from 33.9 last month. Typically employers usually increase
the hours for their current employees before hiring new ones, that is a signal
that when it comes time to jobs, it is going to be a long road to recovery.
Greece announced they approved a package to save them around $6.52 billion in
budget costs and cut the country's ballooning deficit, the news caused riots in
Greece, citizens disapprove of the plan to rais taxes and cut workers'
salaries. With less than an hour left in the trading session, the Dow Jones
Industrial Average was up triple digits. Commodity prices rose; gold rose $4.40
to $1,137.50 and crude oil rose $1.55 to $81.76. Bond prices fell, the yield on
the benchmark 10-year note rose to 3.68 from 3.60 Thursday.
Economic data released today:
Nonfarm Payrolls:
U.S. January Payrolls Revised to fall 26K from a decrease by 20K; U.S.
February Government Payrolls fell 18K; Federal rose 7K; U.S. February
Manufacturing Payrolls rose 1K; U.S. February Service Producing rose 24K; U.S.
February Nonfarm Payrolls fell 36K; Compared to Consensus of a decrease by 75K.
Unemployment Rate:
U.S. January Unemployment Left Unrevised at 9.7%; U.S. February Unemployment
Rate 9.7%; Compared to Consensus 9.8%.
Average Hourly Earnings (MoM):
U.S. February Average Hourly Earnings rose 0.03 to $18.93.
Average Weekly Hours:
U.S. February Overall Workweek fell 0.2 Hour to 33.1 Hours.
Consumer Credit (MoM):
U.S. January Consumer Credit Increased $5.0B; January Consumer Credit
Increase First Since January 2009; U.S. Consumers Increase Borrowing for First
Time in a Year; December Consumer Credit Revised to Down $4.6B from Down $1.7B;
January Consumer Credit Increase Largest Since July 2008; January Revolving
Credit Falls; Non-Revolving Credit Rises; January Consumer Credit Increase was
Unexpected.
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 118.73 points, EOD 10,562.87
NYSE (New York Stock
Exchange) triple digit gain 117.99, EOD 7,291.06
National Association of Securities Dealers Automated Quotations (NASDAQ)
gain 32.25 points, EOD 2,324.56
S&P 500 (SPX) gain 15.59 points, EOD 1,138.56
BEL 20 (BEL20) gain 28.07 points, EOD 2,611.03
CAC 40 (CAC40) gain 82.01 points, EOD 3,910.42
FTSE100 (UKX100) gain 72.6, EOD 5,599.76
NIKKEI 225 (NIK/O) gain 26.02 points, EOD 10,368.96
New York Stock Exchange (NYSE) stock market indicators for the trading session
today:
Advanced stock prices 2,576, declined stock prices 538, unchanged stock
prices 78, stock prices hitting new highs 450 and stock prices hitting new lows
5. 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: CF shed 3.49, HOD
107.70, LOD 103.14, EOD 104.74; ANF gain 0.83, HOD 42.40, LOD 41.30, EOD 42.35;
COO shed 1.69, HOD 40.14, LOD 38.15, EOD 38.51.
National Association of Securities Dealers Automated Quotations (NASDAQ)
stock market indicators for the trading session today:
Advanced stock prices 2,171, declined stock prices 567, unchanged
stock prices 101, stock prices hitting new highs 257 and stock prices hitting new
lows 9. 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 8.24, HOD 219.70, LOD
214.63, EOD 218.95; FSLR gain 0.56, HOD 109.49, LOD 108.11, EOD 108.61; TIVO
gain 0.97, HOD 17.98, LOD 17.01, EOD 17.50; ITMN gain 8.67, HOD 25.37, LOD
22.29, EOD 23.28; MRVL gain 0.27, HOD 20.41, LOD 19.53, EOD 20.40; ARST shed
2.22, HOD 28.43, LOD 25.28, EOD 26.67; ERII shed 0.45, HOD 6.36, LOD 6.00, EOD
6.21.
Market trends on the American Stock Exchange (AMEX) and stock market indicators
for the trading session today:
Advanced stock prices 323, declined stock prices 174, unchanged stock
prices 40, stock prices hitting new highs 33 and stock prices hitting new lows
n/a.
Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1137.75; Change 15.50
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,886.75; Change 27.00
E-mini DOW $5 (YM) Mar 10: EOD 10,551; Change 120
E-mini S&P MidCap 400 (MF) Mar 10: EOD 769.60; Change 11.30
Nikkei 225 (Yen) Mar 10: EOD 10,540; Change 315
World Currencies for the Forex Market, for Forex Trading by active Forex
Traders, at time of this posting:
Euro 0.7343 U.S. Dollars 1.3619
Japanese Yen 90.3500 to U.S. Dollars 0.0111
British Pound 0.6605 to U.S. Dollars 1.5141
Canadian Dollar 1.0305 to U.S. Dollars 0.9704
Swiss Franc 1.0739 to U.S. Dollars 0.9312
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (April 10) gain $1.55, EOD $81.76 per barrel ($US per barrel)
Heating Oil (April 10) gain $0.03, EOD $2.10 a gallon ($US per gallon)
Natural Gas (April 10) gain $0.02, EOD $4.60 per million BTU ($US per mmbtu.)
Unleaded Gas (April 10) gain $0.04, EOD $2.27 gallon ($US per gallon)
Metals Markets - Comex:
Gold (April 10) gain $4.40, EOD $1,137.50 ($US per Troy ounce)
Silver (May 10) gain $0.21, EOD $17.38 ($US per Troy ounce)
Platinum (April 10) shed $6.10, EOD $1,577.50 ($US per Troy ounce)
Copper (May 10) gain $0.04, EOD $3.42 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (April 10) shed $0.48, EOD $73.10
Pork Bellies (May 10) shed $0.05, EOD $93.00
Live Cattle (April 10) shed $0.08, EOD $92.95
Feeder Cattle (April 10) gain $0.10, EOD $105.23
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (May 10) shed $63.00, EOD $375.50
Soybeans (May 10) gain $2.00, EOD $942.75
BOND MARKET:
2 year EOD 99 30/32, change -3/32, Yield 0.90, Yield change 0.05
5 year EOD 100 4/32, change -11/32, Yield 2.34 Yield change 0.07
10 year EOD 99 17/32, change -20/32, Yield 3.68 Yield change 0.08
30 year EOD 99 21/32, change -1 14/32, Yield 4.64, change 0.09
Access upcoming scheduled economic data anytime by viewing the
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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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News & Commentary
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Futures Trading Room Performance for July 30, 2010
Forex Trading Room Performance for July 30, 2010
Daily Swing Trades Performance for July 30, 2010
Daily Market Commentary for July 29, 2010
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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