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Daily Market Commentary for November 2, 2009
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Ford
Ford Motor (F) reported a surprise gain
in profit for the third quarter Monday; the automaker earned a net income of
virtually $1 billion making it a very profitable quarter. The company earned
$997 million, or 29 cents a share, that comes as a nice surprise after they lost
over $14.6 billion last year and hasn't seen a full-year profit since 2005,
analysts had expected a loss of 12 cents a share for the quarter.Michigan based
automaker said earnings rose due to an increase in sales from the Cash for
Clunkers program, cost reductions and the fact that its' U.S. rivals are facing
serious financial problems. Ford is the only major U.S. automaker that has not
had to file for bankruptcy this year and has also been able to avoid government
assistance. Ford cut costs by $1 billion during the quarter, they laid off
workers in North America and Europe, reduced pension costs and cut back on
retiree health care they also improved in productivity and product development.
During the quarter, Ford's shares rose by 2.2 points to 14.6%, the company was
able to post larger share gains than Japanese competitor Toyota (TM) and Honda (HMC),
They also profited from massive share declines at Chrysler and GM. Ford still
has some glitches to work out, employee's rejected an agreement with the United
Auto Workers the agreement would've put Ford's labor costs in the same range as
General Motors Corp. and Chrysler LLC. Workers disapproved of the clauses that
would limit their rights to strike and freeze entry-level wages, they also feel
the company doesn't need further concessions. Overall everyone was excited to
see Ford's results, as one of the largest automakers in the world everyone was
routing for Ford to make a come back and today's results prove they might be on
that track. "Our third quarter results clearly show that Ford is making
tremendous progress despite the prolonged slump in the global economy," said
Ford President and CEO Alan Mulally in a statement, he also added "While we
still face a challenging road ahead, our [company] transformation plan is
working and our underlying business continues to grow stronger." Stocks were on
the rise this morning following Ford's surprising 3Q profits, and also strong
reports on manufacturing and housing. Institute for Supply Management showed
nationwide manufacturing activity hurdled to 55.7 in October, from 53 in August,
economists had expected a gain to 54, numbers above 50 show growth, while
numbers below 50 suggest contraction. On the housing front, the National
Association of Realtors reported that the number of signed sales contracts to
buy homes rose in September for the eighth straight month, pending home sales
rose more than expected, by 6.1%, in September, analysts expected a 1.2%
increase. Bond prices fell as stocks rose, the yield on the benchmark 10-year
Treasury note rose to 3.42 from 3.39 Friday, as the dollar fell against other
currencies.
Dow Jones Economic Sentiment Indicator October 36.9 versus September 34.1;
Economy Sentiment Indicator bounces back in October after September drop;
Economy Sentiment Indicator shows recovery still vulnerable.
Economic data released today:
ISM [Institute for Supply Management] Manufacturing Index:
U.S. ISM October Prices Index 65.0 versus September 63.5; U.S. ISM October
Employment Index 53.1 versus September 46.2; U.S. ISM October New Orders Index
58.5 versus September 60.8; U.S. ISM October Production Index 63.3 versus
September 55.7; U.S. ISM October Inventories Index 46.9 versus September 42.5;
U.S. ISM October Manufacturing PMI 55.7 versus September 52.6; U.S. ISM October
Manufacturing PMI Expected 53.3.
Pending Home Sales from NAR [National Association of Realtors]:
U.S. Pending Home Sales Index rose 6.1% to 110.1 in September; U.S.
September Pending Home Sales rose 21.2% from September 2008 – NAR.
Construction Spending:
U.S. Construction Spending rose 0.8% in September compared to consensus of a
decrease by 0.1%; August Construction Spending Revised to fall 0.1% from an
increase by 0.8%.
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) gain 74.74 points, EOD 9,787.47
NYSE (New York Stock
Exchange) gain 45.49, EOD 6,784.94
National Association of Securities Dealers Automated Quotations (NASDAQ)
gain 4.09 points, EOD 2,049.20
S&P 500 (SPX) gain 6.48 points, EOD 1,042.67
BEL 20 (BEL20) gain 4.69 points, EOD 2,397.41
CAC 40 (CAC40) gain 31.77 points, EOD 3,639.46
FTSE100 (UKX100) gain 59.95 points, EOD 5,104.50
NIKKEI 225 (NIK/O) unchanged 143.64, EOD 10,034.35
New York Stock Exchange (NYSE) stock market indicators for the trading session
today:
Advanced stock prices 1,616 declined stock prices 1,458, unchanged stock
prices 101, stock prices hitting new highs 27 and stock prices hitting new lows
19. 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: MI shed 0.10, HOD 5.60,
LOD 5.05, EOD 5.22; RBS shed 1.00, HOD 12.89, LOD 12.33, EOD 12.65; FAS gain
1.26, HOD 72.03, LOD 63.80, EOD 68.85; MON gain 1.10, HOD 68.64, LOD 67.04, EOD
68.28; GS gain 0.51, HOD 173.36, LOD 165.30, EOD 170.68; BLK gain 4.22, HOD
221.77, LOD 216.11, EOD 220.71; NUE shed 0.83, HOD 40.81, LOD 38.27, EOD 39.02;
EDC gain 3.36, HOD 128.27, LOD 116.82, EOD 122.48; AIG gain 0.69, HOD 36.48, LOD
33.25, EOD 34.21; SRE gain 0.03, HOD 18.77, LOD 18.25, EOD 18.79; FDX gain 0.18,
HOD 73.81, LOD 71.78, EOD 72.87; KBR shed 0.54, HOD 20.66, LOD 19.42, EOD 19.93.
National Association of Securities Dealers Automated Quotations (NASDAQ)
stock market indicators for the trading session today:
Advanced stock prices 1,314, declined stock prices 1,438, unchanged
stock prices 113, stock prices hitting new highs 20 and stock prices hitting
new lows 56. 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: HGSI gain 6.59, HOD 26.21, LOD 23.57,
EOD 25.28; AAPL gain 0.69, HOD 192.88, LOD 185.57, EOD 189.19; RIMM shed 3.04,
HOD 57.20, LOD 54.30, EOD 55.69; BIDU shed 1.92, HOD 380.50, LOD 370.00, EOD
375.99; FSLR gain 0.06, HOD 123.99, LOD 120.00, EOD 121.99; PCLN gain 4.91, HOD
163.59, LOD 157.29, EOD 162.70; ESRX gain 3.12, HOD 83.17, LOD 79.74, EOD 83.04.
Market trends on the American Stock Exchange (AMEX) and stock market indicators
for the trading session today:
Advanced stock prices 255, declined stock prices 245, unchanged stock
prices 63, stock prices hitting new highs 6 and stock prices hitting new lows
8.
Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Dec 09: EOD 1039.00; Change 6.00
E-mini NASDAQ-100 (NQ) Dec 09: EOD 1,670.50; Change 5.00
E-mini DOW $5 (YM) Dec 09: EOD 9,735; Change 71
E-mini S&P MidCap 400 (MF) Dec 09: EOD 659.90; Change 2.50
Nikkei 225 (Yen) Dec 09: EOD 9,800; Change 85
World Currencies for the Forex Market, for Forex Trading by active Forex
Traders, at time of this posting:
Euro 0.6773 U.S. Dollars 1.4764
Japanese Yen 90.3000 to U.S. Dollars 0.0111
British Pound 0.6099 to U.S. Dollars 1.6395
Canadian Dollar 1.0777 to U.S. Dollars 0.9279
Swiss Franc 1.0222 to U.S. Dollars 0.9783
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (December 09) gain $1.13, EOD $78.13 per barrel ($US per barrel)
Heating Oil (December 09) gain $0.04, EOD $2.05 a gallon ($US per
gallon)
Natural Gas (December 09) shed $0.22, EOD $4.82 per million BTU ($US per mmbtu.)
Unleaded Gas (December 09) gain $0.03, EOD $1.99 a gallon ($US per
gallon)
Metals Markets - Comex:
Gold (December 09) gain $13.60, EOD $1,054.00 ($US per Troy ounce)
Silver (December 09) gain $0.19, EOD $16.44 ($US per Troy ounce)
Platinum (January 09) gain $11.80, EOD $1,338.10 ($US per Troy ounce)
Copper (December 09) shed $0.01, EOD $2.95 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (December 09) gain $1.03, EOD $57.73
Pork Bellies (February 10) unchanged, EOD $89.30
Live Cattle (December 09) gain $0.55, EOD $86.23
Feeder Cattle (January 10) gain $0.50, EOD $95.58
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) gain $16.25, EOD $382.25
Soybeans (January 10) gain $21.50, EOD $998.00
BOND MARKET:
2 year EOD 100 4/32, change -2/32, Yield 0.92, Yield change 0.03
5 year EOD 100 5/32, change -4/32, Yield 2.33, Yield change 0.03
10 year EOD 101 21/32, change -11/32, Yield 3.42, Yield change 0.04
30 year EOD 103 29/32, change -24/32, Yield 4.26, change 0.04
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 |
$130,685.00 |
$9,967.00 |
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| |
Total for Year |
Last Week |
$32,847.50 |
$1,585.00 |
|
| |
Total for Year |
Last Week |
$123,550.00 |
$16,250.00 |
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| |
Total for Year |
Last Week |
$106,480.00 |
$9,830.00 |
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Total for Year |
Last Week |
$0.00 |
$0.00 |
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News & Commentary
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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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