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Daily Market Commentary for November 16, 2009
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GM
GM reported an overall loss for the third-quarter but is staying optimistic
about the future of the company; they said they will start to repay some of the
money the government loaned them. The company said Monday it plans on paying $1
billion to the U.S. Treasury in December, and another $192 million to the
Canadian governments. GM posted a $1.15 billion loss in the third quarter, that
comes after its July 10 exit from bankruptcy protection. GM said in its report
that operations generated $3.3 billion in assets and ended the month of
September with $42.6 billion in cash on hand, the company said it will have to
use some of that money to make an additional $1 billion in restructuring
payments and they also plan to pay a $2.8 billion settlement to Delphi, its
former parts supplier. GM's new products, include the improved Chevrolet Camaro
muscle car, Chevrolet Equinox and GMC Terrain midsize, overall these revamped
vehicles have helped the company improve its performance. Out of all of the
companies models, the company's top sellers for October were the Silverado
pickup truck and the full sized Impala. Although the company recently
experienced an upturn in auto sales, GM continues to struggle, they reported
revenue from auto sales fell 25% compared to a year earlier, despite the drastic
decline in sales, they were helped out by the government's cash for clunkers
program. Overall, GM said revenue from auto sales in the third quarter were up
$4.9 billion, or 21%, from the second quarter. Any signs of improvement are
uplifting, especially after the hardships GM has been dealing with over the past
year, they've gone from one of the biggest automakers in the world, to having
the government own a 61% stake in the company. GM's competitors are doing
relatively well for the conditions we are facing, Ford and Toyota, GM's biggest
competitors both reported unexpected quarterly profits during the third quarter.
In trading news stocks were up triple digits this morning as the dollar
continued to weaken, energy stocks and commodities benefited from the decline.
Retail sales rose 1.4% in October from the prior month, analysts expected an
increase by 0.9% for the month. Bond prices rose, the yield on the benchmark 10-
year Treasury note fell to 3.33 from 3.42 Friday, gold was also on the rise, the
commodity rose to record highs of $1,139.20.
Comments from Federal Reserve Chairman Ben Bernanke:
Moderate Economic Growth To Continue In 2010 - The U.S. economy will
continue to grow in 2010 and the underlying strength of the world's largest
economy will help ensure the dollar stays firm, Federal Reserve Chairman Ben S.
Bernanke said Monday. Bernanke cautioned that weakness in the labor market and
tight bank lending will prevent the expansion from being as robust as the U.S.
central bank would hope. "I expect moderate economic growth to continue next
year. Final demand shows signs of strengthening, supported by the broad
improvement in financial conditions," Bernanke said in a prepared speech to the
Economic Club of New York. The Fed chairman additionally spoke about the U.S.
dollar, a rare move, which has fallen in value recently as financial markets
have improved and global economic activity picked up. "Our commitment to our
dual objectives, together with the underlying strengths of the U.S. economy,
will help ensure that the dollar is strong and a source of global financial
stability," Bernanke said, stressing that the Fed will continue to monitor the
dollar's value closely. Bernanke said jobs are likely to remain scarce and
inflation low for some time. The central bank said it expects to keep rates
close to zero for an "extended period" in the face of high unemployment and low
inflation. The FOMC rate-setting committee, earlier this month spelled out the
three key indicators it will be looking at to set rates: unemployment, core
inflation and inflation expectations. "Both the decline in jobs and the increase
in the unemployment rate have been more severe than in any other recession since
World War II," Bernanke warned. The U.S. economy is slowly recovering from its
worst recession experienced since the Great Depression. Although the economy
expanded during Q3, for the first time in more than a year, the recovery remains
fragile, with unemployment at a 26-year high at 10.2% during October.
Philadelphia Fed Survey:
U.S. GDP Seen Rising by 2.7% in 4Q, Up 2.3% in 1Q 2010; U.S. 2009 GDP Seen
Down 2.5%, Up 2.4% in 2010, Up 3.1% in 2011; U.S. 2009 Unemployment Rate Seen at
9.3%, 2010 at 10%; U.S. 2011 Unemployment Rate Seen at 9.2%, 8.3% in 2012; U.S.
CPI Seen Up 1.1% in 2009, Up 1.7% 2010, Up 2.1% in 2011; U.S. Core CPI Seen Up
1.7% in 2009, Up 1.4% in 2010; U.S. Core PCE Prices Seen Up 1.3% in 2010, Up
1.5% in 2011.
Economic data released today:
Retail Sales:
U.S. October Retail & Food Sales rose 1.4%; compared to consensus of an
increase by 0.9%; U.S. October Retail & Food Sales Excluding Autos rose 0.2%;
September Retail & Food Sales Revised to fall 2.3% from a decrease by 1.5%.
New York Empire State Manufacturing Index:
New York Fed's November Manufacturing Index 23.51 versus 34.57 in October;
New York Fed November New Orders 16.66 versus 30.82 in October; New York Fed
November Employment 1.32 versus 10.39 in October; New York Fed November Prices
Received fell 2.63 versus a decrease by 5.19 in October.
Business Inventories:
U.S. September Business Inventories fell 0.4%; was expected to fall 0.8%;
U.S. September Motor Vehicle & Parts Inventories rose 3.8%.
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 137.70 points, EOD 10,408.17
NYSE (New York Stock
Exchange) triple digit gain 117.18, EOD 7,237.07
National Association of Securities Dealers Automated Quotations (NASDAQ)
gain 28.75 points, EOD 2,196.63
S&P 500 (SPX) gain 15.58 points, EOD 1,109.06
BEL 20 (BEL20) gain 28.85 points, EOD 2,535.32
CAC 40 (CAC40) gain 57.15 points, EOD 3,863.16
FTSE100 (UKX100) gain 86.29 points, EOD 5,382.67
NIKKEI 225 (NIK/O) gain 20.87 points, EOD 9,791.18
New York Stock Exchange (NYSE) stock market indicators for the trading session
today:
Advanced stock prices 2,494 declined stock prices 619, unchanged stock
prices 78, stock prices hitting new highs 312 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:
CME gain 4.72, HOD 321.40, LOD 315.89, EOD 318.48; EDC gain 10.35,
HOD 165.00, LOD 158.50, EOD 162.74; ICE gain 1.50, HOD 111.35, LOD N/A, EOD
110.03; RTP gain 10.75, HOD 222.98, LOD 219.34, EOD 220.84; FAS gain 2.60, HOD
81.11, LOD 77.44, EOD 78.78; PBR gain 0.77, HOD 51.44, LOD 50.45, EOD 50.95; PLA
gain 0.23, HOD 5.22, LOD 4.64, EOD 4.78; FDX gain 2.83, HOD 84.92, LOD 83.08,
EOD 84.80; ADY shed 6.89, HOD 26.52, LOD 23.61, EOD 25.54; MA shed 3.92, HOD
N/A, LOD 228.92, EOD 230.80; CF gain 0.93, HOD 82.15, LOD 80.19, EOD 81.29; AEM
gain 1.01, HOD 62.59, LOD 61.10, EOD 61.62.
National Association of Securities Dealers Automated Quotations (NASDAQ)
stock market indicators for the trading session today:
Advanced stock prices 2,112, declined stock prices 664, unchanged
stock prices 95, stock prices hitting new highs 177 and stock prices hitting
new lows 17. 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 5.82, HOD 442.63, LOD
434.05, EOD 438.32; TIBX shed 0.17, HOD 9.25, LOD 9.01, EOD 9.21; FSLR gain
5.11, HOD 125.22, LOD 120.02, EOD 123.41; AAPL gain 2.18, HOD 208.00, LOD
205.01, EOD 206.63; TFSL shed 0.38, HOD 11.49, LOD 10.38, EOD 11.07; IBKC gain
8.03, HOD 54.18, LOD 50.17, EOD 52.43; SHLD gain 3.06, HOD 79.75, LOD 74.26, EOD
77.60; AMZN shed 1.38, HOD 134.56, LOD 130.98, EOD 131.59.
Market trends on the American Stock Exchange (AMEX) and stock market indicators
for the trading session today:
Advanced stock prices 320, declined stock prices 204, unchanged stock
prices 46, stock prices hitting new highs 20 and stock prices hitting new lows
5.
Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Dec 09: EOD 1106.25; Change 14.75
E-mini NASDAQ-100 (NQ) Dec 09: EOD 1,803.75; Change 15.50
E-mini DOW $5 (YM) Dec 09: EOD 10,367; Change 125
E-mini S&P MidCap 400 (MF) Dec 09: EOD 708.90; Change 11.70
Nikkei 225 (Yen) Dec 09: EOD 9,875; Change 100
World Currencies for the Forex Market, for Forex Trading by active Forex
Traders, at time of this posting:
Euro 0.6678 U.S. Dollars 1.4974
Japanese Yen 89.1000 to U.S. Dollars 0.0112
British Pound 0.5941 to U.S. Dollars 1.6832
Canadian Dollar 1.0466 to U.S. Dollars 0.9555
Swiss Franc 1.0075 to U.S. Dollars 0.9926
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (December 09) gain $2.55, EOD $78.90 per barrel ($US per barrel)
Heating Oil (December 09) gain $0.07, EOD $2.07 a gallon ($US per
gallon)
Natural Gas (December 09) gain $0.19, EOD $4.99 per million BTU ($US per mmbtu.)
Unleaded Gas (December 09) gain $0.07, EOD $1.99 a gallon ($US per
gallon)
Metals Markets - Comex:
Gold (December 09) gain $22.70, EOD $1,139.40 ($US per Troy ounce)
Silver (December 09) gain $1.03, EOD $18.41 ($US per Troy ounce)
Platinum (January 09) gain $55.90, EOD $1,444.60 ($US per Troy ounce)
Copper (December 09) gain $0.13, EOD $3.13 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (December 09) gain $0.50, EOD $62.35
Pork Bellies (February 10) gain $0.35, EOD $87.40
Live Cattle (December 09) shed $0.03, EOD $85.13
Feeder Cattle (January 10) shed $0.20, EOD $92.38
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) gain 11.75, EOD $417.50
Soybeans (January 10) gain $23.00, EOD $1,010.00
BOND MARKET:
2 year EOD 100 14/32, change 3/32, Yield 0.76, Yield change -0.05
5 year EOD 100 29/32, change 11/32, Yield 2.18, Yield change -0.07
10 year EOD 100 10/32, change 23/32, Yield 3.33, Yield change -0.09
30 year EOD 101 22/32, change 1 13/32, Yield 4.27, change -0.08
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Top of the page | |
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Total for Year |
Last Week |
$130,685.00 |
$8,382.00 |
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Total for Year |
Last Week |
$32,847.50 |
$2,557.50 |
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| |
Total for Year |
Last Week |
$123,550.00 |
$12,650.00 |
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Total for Year |
Last Week |
$106,480.00 |
$2,610.00 |
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Total for Year |
Last Week |
$0.00 |
$0.00 |
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News & Commentary
Daily Market Commentary for March 12, 2010
Stocks Trading Room Performance for March 12, 2010
Futures Trading Room Performance for March 12, 2010
Forex Trading Room Performance for March 12, 2010
Daily Swing Trades Performance for March 12, 2010
Daily Market Commentary for March 11, 2010
Stocks Trading Room Performance for March 11, 2010
Futures Trading Room Performance for March 11, 2010
Forex Trading Room Performance for March 11, 2010
Daily Swing Trades Performance for March 11, 2010
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