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Daily Market Commentary for October 30, 2009
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Consumer Spending
Investors didn't take the news well that consumer spending plummeted, this
month it fell by it's largest amount in nine months. Before the market opened
the Commerce Department reported that personal income was flat in September and
consumer spending fell by 0.5% after Spending rose 1.4% in August, the results
matched analysts' expectations. Economists believe that consumer spending will
slow down sharply in the current quarter, lowering GDP growth to an estimated
1.5 percent, analysts alerted that the risk of a double-dip recession cannot be
ruled out over the next year. Although there was a drop in spending, the savings
rate was heightened to 3.3 percent of after-tax incomes, up almost one percent
from 2.8 percent in August. Experts believe households will aim to continue to
increase savings, many people's savings was wiped out by the crash last year,
they are also saving just in case of another emergency. With people saving and
not spending that could possibly hold back spending in the months ahead,
weakening the recovery. Despite some of the bad news there was some good news
for the manufacturing sector this morning. Chicago purchasing managers index
rose to 54.2% in October from 46.1% in September, it was the best reading since
September 2008, readings over 50% indicate overall business expansion.
Reuters/University of Michigan's consumer sentiment index rose to 70.6 in late
October, up from 69.4 earlier in the month,
however it was a decrease from September's 73.5. In other news, Chevron (CVX)
this morning said third-quarter earnings fell to $3.8 billion, or $1.92 per
share, down almost 52% from the $7.9 billion, or $3.85 per share, it earned in
the same quarter last year, revenue of the company fell to $46.6 billion from
$78.9 billion. Stocks fell Friday morning with financial shares leading the
pack, as stocks fell bond prices rose, the yield on the benchmark 10-year
Treasury note fell to 3.39 from 3.48 Thursday, the weakening dollar made some
gains against other currencies today. Commodities were mixed, oil and gold both
posted declines.
Economic data released today:
Core PCE Price Index:
September PCE Core Price Index rose 0.1% rate on month; rose 1.3% on year;
September PCE Price Index rose 0.1% rate on month; fell 0.5% on year.
Personal Income/Spending:
U.S. Personal Income Unchanged in September; compared to consensus of
Unchanged; U.S. Personal Spending fell 0.5% in September; compared to consensus
of a decrease by 0.5%; August Personal Income Revised to rise 0.1% from an
increase by 0.2%; August Spending Revised to rise 1.4% from an increase by 1.3%.
Employment Cost Index:
U.S. 3Q Employment Cost Index rose 0.4% compared to consensus of an increase
by 0.5%; U.S. 3Q Employment Cost Index rose1.5% from year ago.
Chicago PMI:
U.S. Chicago Purchasing Management Adjusted October Index 54.2 versus
September 46.1; U.S. Chicago Purchasing Management October Prices Paid Index
48.6 versus September 51.3; U.S. Chicago Purchasing Management October Supplier
Deliveries 50.7; versus September 49.3; U.S. Chicago Purchasing Management
October Employment Index 38.3 versus September 38.8; U.S. Chicago Purchasing
Management October New Orders Index 61.4 versus September 46.3.
Michigan Consumer Sentiment Index:
University Michigan 12-Month Inflation Forecast rose 2.9%; versus September
increase by 2.2%; University Michigan 5-Yr Inflation Forecast rose 2.9%; versus
September increase by 2.8%; University Michigan End-October Expectations 68.6;
versus September 73.5; University Michigan Preliminary October Sentiment was
69.4; University Michigan End-October Sentiment 70.6; versus September 73.5;
University Michigan End-October Current Index 73.7; versus September 73.4.
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) shed 240.78 points, EOD 9,721.80
NYSE (New York Stock
Exchange) shed 215.86, EOD 6,739.45
National Association of Securities Dealers Automated Quotations (NASDAQ)
shed 52.41 points, EOD 2,045.14
S&P 500 (SPX) shed 30.22 points, EOD 1,035.89
BEL 20 (BEL20) shed 47.73 points, EOD 2,392.72
CAC 40 (CAC40) shed 106.33 points, EOD 3,607.69
FTSE100 (UKX100) shed 93.17 points, EOD 5,044.55
NIKKEI 225 (NIK/O) triple digit gain 143.64, EOD 10,034.35
New York Stock Exchange (NYSE) stock market indicators for the trading session
today:
Advanced stock prices 388 declined stock prices 2,732, unchanged stock
prices 51, stock prices hitting new highs 34 and stock prices hitting new lows
17. 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: GNW gain 0.44, HOD 11.45,
LOD 9.96, EOD 10.62; BEZ shed 1.19, HOD 26.68, LOD 25.26, EOD 25.86; FAS shed
9.76, HOD 75.60, LOD 66.30, EOD 67.59; CMI shed 2.85, HOD 48.90, LOD 42.10, EOD
43.07; EDC shed 17.19, HOD 133.75, LOD 115.00, EOD 119.12; CME shed 11.16, HOD
315.96, LOD 301.10, EOD 302.61; DTO gain 6.72, HOD 67.19, LOD 61.04, EOD 66.93;
BMC shed 0.06, HOD 38.88, LOD 37.15, EOD 37.16; MHK shed 3.55, HOD 46.26, LOD
41.32, EOD 42.93; MFE shed 1.87, HOD 42.30, LOD 39.37, EOD 41.88; AOC shed 2.68,
HOD 39.47, LOD 36.81, EOD 38.51; AEM shed 3.66, HOD 57.62, LOD 51.38, EOD 53.53.
National Association of Securities Dealers Automated Quotations (NASDAQ)
stock market indicators for the trading session today:
Advanced stock prices 534, declined stock prices 2,233, unchanged
stock prices 99, stock prices hitting new highs 24 and stock prices hitting
new lows 44. 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: TSRA shed 4.75, HOD 23.90, LOD 21.72,
EOD 22.11; NVTL shed 3.27, HOD 9.60, LOD 8.58, EOD 8.92; MSTR gain 13.83, HOD
91.78, LOD 83.00, EOD 87.27; BARE gain 0.14, HOD 14.54, LOD 12.63, EOD 12.63;
WYNN shed 2.07, HOD 57.75, LOD 52.46, EOD 54.22; BIDU shed 15.48, HOD 398.91,
LOD 376.80, EOD 377.92; AFFY shed 0.71, HOD 20.88, LOD 18.05, EOD 20.14; FSLR
shed 4.54, HOD 130.03, LOD 121.32, EOD 121.93; LECO gain 3.14, HOD 51.39, LOD
47.00, EOD 47.44; SYNT shed 5.80, HOD 40.23, LOD 35.80, EOD 35.83; PCLN shed
4.83, HOD 167.67, LOD 154.12, EOD 157.79.
Market trends on the American Stock Exchange (AMEX) and stock market indicators
for the trading session today:
Advanced stock prices 151, declined stock prices 393, unchanged stock
prices 39, stock prices hitting new highs 4 and stock prices hitting new lows
9.
Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Dec 09: EOD 1034.00; Change -27.50
E-mini NASDAQ-100 (NQ) Dec 09: EOD 1,667.50; Change -40.00
E-mini DOW $5 (YM) Dec 09: EOD 9,674; Change -229
E-mini S&P MidCap 400 (MF) Dec 09: EOD 658.60; Change -16.00
Nikkei 225 (Yen) Dec 09: EOD 9,710; Change -320
World Currencies for the Forex Market, for Forex Trading by active Forex
Traders, at time of this posting:
Euro 0.6795 U.S. Dollars 1.4717
Japanese Yen 92.0200 to U.S. Dollars 0.0111
British Pound 0.6089 to U.S. Dollars 1.6423
Canadian Dollar 1.0811 to U.S. Dollars 0.9250
Swiss Franc 1.0256 to U.S. Dollars 0.9750
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (December 09) shed $2.87, EOD $77.00 per barrel ($US per barrel)
Heating Oil (December 09) shed $0.08, EOD $2.00 a gallon ($US per
gallon)
Natural Gas (December 09) shed $0.03, EOD $5.03 per million BTU ($US per mmbtu.)
Unleaded Gas (November 09) shed $0.07, EOD $1.96 a gallon ($US per
gallon)
Metals Markets - Comex:
Gold (December 09) shed $6.70, EOD $1,040.40 ($US per Troy ounce)
Silver (December 09) shed $0.40, EOD $16.26 ($US per Troy ounce)
Platinum (January 09) shed $11.90, EOD $1,326.30 ($US per Troy ounce)
Copper (December 09) shed $0.07, EOD $2.96 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (December 09) shed $0.50, EOD $56.70
Pork Bellies (February 10) shed $1.50, EOD $89.30
Live Cattle (December 09) shed $0.60, EOD $85.68
Feeder Cattle (November 09) gain $0.05, EOD $95.08
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) shed $13.50, EOD $366.00
Soybeans (November 09) shed $10.50, EOD $974.50
BOND MARKET:
2 year EOD 100 6/32, change 5/32, Yield 0.90, Yield change -0.07
5 year EOD 100 8/32, change 18/32, Yield 2.32, Yield change -0.12
10 year EOD 101 28/32, change 27/32, Yield 3.39, Yield change -0.10
30 year EOD 104 16/32, change 1 25/32, Yield 4.23, change -0.10
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Top of the page | |
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Total for Year |
Last Week |
$129,372.00 |
$9,967.00 |
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Total for Year |
Last Week |
$32,170.00 |
$1,585.00 |
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| |
Total for Year |
Last Week |
$117,300.00 |
$16,250.00 |
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| |
Total for Year |
Last Week |
$106,510.00 |
$9,830.00 |
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Total for Year |
Last Week |
$0.00 |
$0.00 |
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