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Daily Market Commentary for September 30, 2009
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Toyota
Toyota announced Tuesday that they were
recalling 3.8 million Toyota and Lexus vehicles due to potentially dangerous
floor mats. "A stuck open accelerator pedal may result in very high vehicle
speeds and make it difficult to stop the vehicle, which could cause a crash,
serious injury or death," Toyota said in its statement. Toyota is the largest
automaker in the world, shares for the company fell 1.6% to $79.32 when they
made the announcement, Toyota's largest recall previously was in 2005 when they
recalled 900,000 cars due to steering related issues. In the statement released,
Toyota advised owners to remove the drivers side floor mats immediately and they
are not to replace them. The recall includes 2007-10 Toyota Camry, 2005-10
Toyota Avalon, 2004-09 Toyota Prius, 2005-10 Tacoma, 2007-10 Toyota Tundra,
2007-10 Lexus ES350 and 2006-10 Lexus IS250 and IS350. Earlier this month the
automaker discussed with investigators that indicated that a fatal crash
involving a family driving a 2009 ES350 could have been caused by an all-weather
floor mat interfering with the accelerated pedal because of a faulty mat
installation, lead to the recall.
Commerce Department's final report for the second-quarter gross domestic product
showed gross domestic products shrank
at a 0.07% from 1% last month, economists predicted a drop by 1.2%.
Chicago Purchasing Managers Index fell to 46.1 in September compared to
forecasts of 52 that economists expected, this shows that manufacturing in the
Midwest is still considerably weak.
Stocks fell today, the Dow Jones Industrial Average fell 34 points, the Nasdaq
Composite Index fell 3 points and the Standard & Poor's 500 Index fell 4
points. Bond Prices fell, the yield on the benchmark 10 year Treasury note rose
to 3.30 from 3.29 Tuesday, the dollar fell against other currencies such as the
euro and the yen. Crude oil prices rose by $3.90 to $70.61, gold also rose $14.90
to $1,009.30.
Dow Jones Economic Sentiment Indicator September 34.1 versus August 35.5;
Dow Jones Economic Sentiment Indicator posts first fall since February.
Chicago Fed:
August Resources Output fell 1.3% month over month; fell 6.6% year over
year; August Machinery Output rose 0.3% month over month; fell 26.2% year over
year; August Steel Output rose 0.6% month over month; fell 35.6% year over year;
August Regional Auto Output fell 4.2% month over month; fell 29.3% year; August
Midwest Manufacturing Index fell 0.3% on month; fell 20.8% on year.
President of Federal Reserve Bank of Atlanta, Dennis Lockhart comments:
Credit markets health not necessarily basis for exit; fed views different on
timing of exit strategy; concerned about some form of relapse; may see leaner
business inventories in future.
Economic data released today:
MBA [Mortgage Bankers Association] Mortgage Applications:
U.S. MBA Refinance Index rose 0.8% at 2857.3 compared to last week 2881.5;
U.S. MBA Purchase Index fell 6.2% at 270.4 compared to last week 288.3; U.S. MBA
Market Index fell 2.8% at 649.6 compared to last week 668.5.
ADP [Automatic Data Processing Inc. and consultancy Macroeconomic Advisers]
Nonfarm Employment Change:
ADP September U.S. Private Sector Jobs Expected -240,000; ADP Sees September
U.S. Private Sector Jobs -254,000; "September's employment decline was the
smallest since July of 2008 and employment losses have diminished significantly
over the last two quarters," said Joel Prakken, chairman of Macroeconomic
Advisers. "Nevertheless, employment, which usually trails overall economic
activity, is likely to decline for at least several more months, with losses
continuing to diminish." Latest ADP report shows larger businesses with 500
employees or more shed 61,000 jobs and medium-size businesses lost 93,000
workers during September. Small businesses that employ fewer than 50 workers had
100,000 job cuts.
GDP [Gross Domestic Product]:
U.S. 2Q GDP Revised to fall 0.7% rate from a decrease by 1.0%; U.S. 2Q GDP
Revised up due to business spending adjustment; U.S. 2Q GDP Consensus fell 1.2%;
2Q Real Final Sales Revised to rise 0.7% rate from an increase by 0.4%; 2Q PCE
Price Index Revised to rise 1.4% rate from an increase by 1.3%; 2Q Purchases
Price Index rose 0.5%, unrevised from preliminary report; 2Q Chain-Weighted
Price Index Unchanged% unrevised from preliminary report; 2Q Corporate Profits
rose 5.6% versus an increase by 16.6% in 1Q; 2Q Corporate Profits Revised to
rise 5.6% from an increase by 7.5%.
Chicago Purchasing Management Index [PMI]:
U.S. Chicago PMI Adjusted September Index 46.1 versus August 50.0; U.S.
Chicago PMI September Prices Paid Index 51.3 versus August 50.0; U.S. Chicago
PMI September Supplier Deliveries 49.3 versus August 54.6; U.S. Chicago PMI
September Employment Index 38.8 versus August 38.7; U.S. Chicago PMI September
New Orders Index 46.3 versus August 52.5.
Crude Oil Inventories:
U.S. Crude Oil Stocks +2.796 million barrels at 338.404 million barrels;
U.S. Crude Oil Stocks +2.796 million barrels in week; was seen increasing by
0.3million barrels; U.S. Gasoline Stocks fell 1.657 million barrels at 211.452
million barrels; U.S. Gasoline Stocks fell 1.657million barrels in week was seen
increasing by 0.8 million barrels; U.S. Distillate Stocks +0.323 million barrels
at 171.077 million barrels; U.S. Distillate Stocks +0.323million barrels in
week; was seen increasing by 1.1million barrels; U.S. Refineries Ran at 84.57%
versus 85.58% week ago; U.S. Refineries Ran at 84.57% was seen 85.20.
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 34.68 points, EOD 9,707.52
NYSE (New York Stock
Exchange) shed 15.94, EOD 6,910.88
National Association of Securities Dealers Automated Quotations (NASDAQ)
shed 3.87 points, EOD 2,120.17
S&P 500 (SPX) shed 4.55 points, EOD 1,056.06
BEL 20 (BEL20) shed 5.16 points, EOD 2,485.62
CAC 40 (CAC40) shed 18.69 points, EOD 3,795.41
FTSE100 (UKX100) shed 25.82 points, EOD 5,133.90
NIKKEI 225 (NIK/O) gain 33.03, EOD 10,133.23
New York Stock Exchange (NYSE) stock market indicators for the trading session
today:
Advanced stock prices 1,268 declined stock prices 1,814, unchanged
stock prices 88, stock prices hitting new highs 197 and stock prices hitting new
lows 1. 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: JBL gain 1.13,
HOD13.55, LOD 12.93, EOD 13.41; DRI shed 2.02, HOD 34.19, LOD 32.51, EOD 34.13;
AMP gain 3.99, HOD 37.36, LOD 34.39, EOD 36.33; NKE gain 4.61, HOD 64.95, LOD
64.01, EOD 64.70; AIG shed 1.11, HOD 46.07, LOD 43.18, EOD 44.11; CME gain 2.51,
HOD 308.80, LOD 300.00, EOD 308.19; FAS shed 1.60, HOD 85.80, LOD 79.88, EOD
82.13; YUM gain 0.90, HOD 34.21, LOD 32.52, EOD 33.76; MA shed 4.59, HOD 208.59,
LOD 201.10, EOD 202.15; TDG gain 1.69, HOD 50.93, LOD 48.30, EOD 49.81; EOG gain
1.87, HOD 84.36, LOD 81.28, EOD 83.51; CIT shed 0.99, HOD 1.57, LOD 1.18, EOD
1.21; ICE gain 2.15, HOD 99.00, LOD 94.82, EOD 97.19; ACL shed 1.46, HOD 140.58,
LOD 134.36, EOD 138.67; BAX gain 0.22, HOD 57.28, LOD 55.75, EOD 57.01; MJN gain
1.95, HOD 46.00, LOD 43.25, EOD 45.11.
National Association of Securities Dealers Automated Quotations (NASDAQ) stock
market indicators for the trading session today:
Advanced stock prices 1,039, declined stock prices 1,733, unchanged
stock prices 101, stock prices hitting new highs 91 and stock prices hitting new
lows 15. 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: WYNN shed 2.36, HOD 74.50, LOD 69.60,
EOD 70.89; FSLR shed 4.59, HOD 208.59, LOD 201.10, EOD 202.15; ISRG gain 5.66,
HOD 265.49, LOD 253.22, EOD 262.25; BIDU shed 3.37, HOD 396.69, LOD 383.85, EOD
391.05; RIMM shed 0.01, HOD 69.20, LOD 67.40, EOD 67.62; APOL gain 1.06, HOD
74.38, LOD 71.68, EOD 73.67.
Market trends on the American Stock Exchange (AMEX) and stock market
indicators for the trading session today:
Advanced stock prices 275, declined stock prices 241, unchanged stock
prices 63, stock prices hitting new highs 31 and stock prices hitting new lows
3.
Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Sept 09: EOD 1053.50; Change -1.25
E-mini NASDAQ-100 (NQ) Sept 09: EOD 1,718.00; Change 2.50
E-mini DOW $5 (YM) Sept 09: EOD 9,665; Change -8
E-mini S&P MidCap 400 (MF) Sept 09: EOD 689.80; Change -1.80
Nikkei 225 (Yen) Sept 09: EOD 10,055; Change -20
World Currencies for the Forex Market, for Forex Trading by active Forex
Traders, at time of this posting:
Euro 0.6834 U.S. Dollars 1.4632
Japanese Yen 89.7400 to U.S. Dollars 0.0111
British Pound 0.6257 to U.S. Dollars 1.5982
Canadian Dollar 1.0705 to U.S. Dollars 0.9341
Swiss Franc 1.0362 to U.S. Dollars 0.9341
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (November 09) gain $3.90, EOD $70.61 per barrel ($US per barrel)
Heating Oil (November 09) gain $0.11, EOD $1.83 a gallon ($US per
gallon)
Natural Gas (November 09) shed $0.03, EOD $4.84 per million BTU ($US
per mmbtu.)
Unleaded Gas (October 09) gain $0.10, EOD $1.73 a gallon ($US per
gallon)
Metals Markets - Comex:
Gold (December 09) gain $14.90, EOD $1,009.30 ($US per Troy ounce)
Silver (December 09) gain $0.48, EOD $16.66 ($US per Troy ounce)
Platinum (January 09) gain $24.70, EOD $1,302.90 ($US per Troy ounce)
Copper (December 09) gain $0.09, EOD $2.82 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (December 09) shed $0.58, EOD $49.50
Pork Bellies (February 10) shed $3.00, EOD $81.70
Live Cattle (December 09) gain $0.53, EOD $86.13
Feeder Cattle (November 09) gain $0.85, EOD $96.63
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) gain $3.00, EOD $342.50
Soybeans (November 09) gain $10.00, EOD $927.00
BOND MARKET:
2 year EOD 100 3/32, change 3/32, Yield 0.94, Yield change -0.05
5 year EOD 100 9/32, change 4/32, Yield 2.31, Yield change -0.02
10 year EOD 102 22/32, change -3/32, Yield 3.30, Yield change 0.01
30 year EOD 107 29/32, change -12/32, Yield 4.04, change 0.02
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Top of the page | |
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Total for Year |
Last Week |
$34,086.00 |
$8,234.00 |
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Total for Year |
Last Week |
$9,725.00 |
$1,970.00 |
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Total for Year |
Last Week |
$76,500.00 |
$10,200.00 |
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Total for Year |
Last Week |
$102,270.00 |
$13,630.00 |
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Total for Year |
Last Week |
$0.00 |
$0.00 |
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