Daily Market Commentary for February 12, 2008 from Millennium-Traders.Com
At the closing bell on the Stock Exchange, here is how the major indices ended the session on the U.S. Markets:
DOW (Dow Jones Industrial Average) triple digit gain of 133.40 points on the day to end the session at 12,373.41
NYSE (New York Stock Exchange) gain of 97.07 points to end the session at 8,965.35
NASDAQ loss of 0.02 points for a close at 2,320.04
S&P 500 gain of 9.73 points for a close at 1,348.86
RUSSELL 2000 gain of 5.73 points to close at 705.48
FTSE All-World ex-U.S. gain of 3.81 points to close at 237.96
FTSE RAFI 1000 gain of 38.91 points to close at 5,543.60
BEL 20 gain of 110.8 points to close at 3,694.05
CAC 40 gain of 158.01 points to close at 4,840.71
FTSE100 gain of 202.3 points to close at 5,910.00
NIKKEI 225 gain of 4.8 points to close at 13,022.00
On the NYSE today, advancers came in at 1,972 decliners totaled 1,213; unchanged came in at 81; new highs came in at 49 and new lows came in at 49. Momentum stocks traded by active Day Traders on the NYSE today: Potash Corporation of Saskatchewan, Incorporated (POT) gained 5.20 points with a high on the day of $154.63, a low of $146.01 for a closing price at $149.28; CME Group, Incorporated (CME) gained 8.75 points with a high on the day of $543.67, a low of $523.71 for a closing price at $530.25; Petroleo Brasileiro (PBR) shed 1.35 points with a high on the day of $117.95, a low of $112.55 for a closing price at $113.75; CF Industries Holdings, Incorporated (CF) gained 1.56 points with a high on the day of $119.91, a low of $111.80 for a closing price at $113.06; Mosaic Corporation (MOS) gained 0.88 points with a high on the day of $106.16, a low of $99.09 for a closing price at $100.41; Rio Tinto plc (RTP) gained 16.18 points with a high on the day of $434.00, a low of $423.25 for a closing price at $428.18; Arch Coal Incorporated (ACI) shed 3.89 points with a high on the day of $55.21, a low of $49.55 for a closing price at $50.87; Monsanto Corporation (MON) gained 1.02 points with a high on the day of $119.95, a low of $114.23 for a closing price at $115.05; Transocean, Incorporated (RIG) shed 2.27 points with a high on the day of $129.94, a low of $124.91 for a closing price at $126.01; Dycom Industries Incorporated (DY) shed 8.01 points with a high on the day of $17.85, a low of $15.00 for a closing price at $15.30; Mastercard Incorporated (MA) shed 2.11 points with a high on the day of $214.58, a low of $202.00 for a closing price at $204.00; CONSOL Energy Incorporated (CNX) shed 3.98 points with a high on the day of $81.89, a low of $75.63 for a closing price at $76.98; Las Vegas Sands Corporation (LVS) shed 0.91 points with a high on the day of $95.26, a low of $90.46 for a closing price at $91.44; NVR Incorporated (NVR) shed 12.68 points with a high on the day of $586.30, a low of $558.00 for a closing price at $563.00.
On the NASDAQ today, advanced totaled 1,699; decliners totaled 1,300; unchanged came in at 134; new highs came in at 32 and new lows came in at 102. Momentum stocks traded by active Day Traders on the NASDAQ today: First Solar, Incorporated (FSLR) shed 14.08 points with a high on the day of $198.41, a low of $172.38 for a closing price at $175.56; SunPower Corporation (SPWR) shed 2.28 points with a high on the day of $78.01, a low of $70.33 for a closing price at $71.30; Baidu.com Incorporated (BIDU) shed 1.28 points with a high on the day of $266.27, a low of $241.32 for a closing price at $245.43; Apple Incorporated (AAPL) shed 4.59 points with a high on the day of $131.00, a low of $123.62 for a closing price at $124.86; Cbeyond, Incorporated (CBEY) gained 1.30 points with a high on the day of $29.19, a low of $26.43 for a closing price at $26.87; Cynosure, Incorporated (CYNO) shed 3.65 points with a high on the day of $26.87, a low of $21.71 for a closing price at $22.04; Google Incorporated (GOOG) shed 3.07 points with a high on the day of $530.60, a low of $513.03 for a closing price at $518.09; Zoltek Companies Incorporated (ZOLT) shed 6.69 points with a high on the day of $28.29, a low of $25.55 for a closing price at $25.94.
President Federal Reserve Bank of San Francisco, Janet L. Yellen commented today: Reiterates Accommodative Stance is Appropriate. Largely Reiterates Speech made Last Week; U.S. Economy to Experience Slow Growth, Not Recession; Economic Prospects are `Unusually Uncertain'; Core Inflation to Moderate On U.S. Slowdown; Fed's Own Surveys Show Tightening Credit Terms; Net Exports Will Add to US Econ Growth; Clear Fed Objective to Avoid Negative Feedback in Economy; Fiscal Package May Help Economy in 2H 2008, Early 2009; Fiscal Package May Help Economy at Weakest Point; Fiscal Package Won't Have Permanent Impact on GDP; U.S. Election Year Shouldn't Affect Economy'; Fed and Others Have Plenty of Soul Searching to do; Fed Not Entirely Immune From Blame for Sub-prime Mess; Regulators Can't Resolve all Credit Market Problems; Must Remain Focused on Downside Risks to Economy; Still Sees Slower Growth Rather than Recession; Too Early to Talk About Removing Accommodative Rates; Time Will Come When Fed Has to Move on Inflation; Still Have Some Tensions in Money Markets; Money Market Tensions Mitigated, Not Absent; Fed Doesn't Want to be Perceived as Bailing Out Markets; People are Certainly Taking Losses; Fed's Focus is the Economy and Innocent Bystanders. The U.S. faces the prospect of much slower growth in 2008 but, the Federal Reserve's decision to cut interest rates should prevent a slide into recession per San Francisco Federal Reserve President Janet Yellen in prepared remarks to the San Francisco Planning and Urban Research Association. "I consider it most probable that the U.S. economy will experience slow growth, and not outright recession, in coming quarters," Remarks were largely the same as those delivered Thursday in Hawaii. Economic prospects are "unusually uncertain," Yellen said, and the economy may decline further but, the Fed's policy actions "should help to promote a pickup in growth over time." The Fed's "accommodative" stance on interest rates is "appropriate," Yellen said. To date, the Fed has slashed its target interest rate from 5.25% to 3% over the past five months, and many market watchers expect that rate to drop to 2% later this year. While her remarks again gave no outright endorsement of further rate cuts, Yellen observed that the U.S. economy is now suffering more broadly from the housing market downturn and sharper credit constraints. Yellen is not a voting member on the Fed's rate-setting committee this year but, her views are closely followed for her insights into one of the regions worst hit by slumping house prices and mounting foreclosures. At the national level, housing construction will "probably continue to contract through the end of this year," Yellen said. Problems in the housing sector are starting to exert a strain on the U.S. consumer, which accounts for around 70% of the economy. "Slower job growth will have a negative impact on the disposable income available to households and therefore will provide an additional restraint on consumer spending," Yellen said. Warning of a vicious cycle whereby slower growth puts further pressure on the financial system, as banks tighten their lending practices even further. "An important objective of Fed policy is to mitigate the possibility that such a negative feedback loop could develop and take hold," the central banker said. Though the banking community entered this difficult phase in good health Yellen said, large write-downs on subprime-related assets have hurt many and put increased pressure on some firms' capital positions. "The turbulence in financial markets is due to some fundamental problems that are not likely to be resolved quickly," the central banker said.
Philadelphia Fed Survey released today: Economists do not see U.S. Recession; Economists see increase by 0.7% 1Q U.S. GDP and increase by 1.3% 2Q GDP; U.S. GDP likely to Rise by 1.8% in 2008; U.S. Unemployment Rate to Rise to 5.2% by late 2008; No Further Inflation Acceleration Seen.
Commodities Markets
The trend was lower across the board today for the Energy Sector: Light crude moved lower today by $0.81 to close at $92.78 a barrel; Heating Oil moved lower today by $0.01 to close at $2.56 a gallon; Natural Gas moved lower today by $0.10 to close at $8.44 per million BTU and Unleaded Gas moved lower today by $0.03 to close at $2.37 a gallon.
Metals Markets ended the session lower across the board today: Gold moved sharply lower today by $15.60 to close at $911.10 a Troy ounce; Silver moved lower today by $0.11 to close at $17.14 per Troy ounce; Platinum moved sharply lower today by $17.60 to close at $1,921.80 per Troy ounce and Copper closed with no change at $3.56 per pound.
On the Livestock and Meat Markets, the trend was mostly lower across the board today: Lean Hogs ended the day higher by $0.80 to close at $65.88; Pork Bellies ended the day lower by $0.25 to close at $97.38; Live Cattle ended the day lower by $0.33 to close at $94.78 and Feeder Cattle ended the day lower by $0.15 at $105.75.
Other Commodities: Corn ended the day lower by $5.75 at $497.75 and Soybeans moved lower today by $5.00 to end the session at $1,321.00.
Bonds were mostly lower across the board today: 2 year bond moved higher by 1/32 to close at 100 13/32; 5 year bond moved lower by 5/32 to close at 100 28/32 today; 10 year bond moved lower by 10/32 to close at 98 22/32 and the 30 year bond moved lower by 28/32 to close at 98 22/32 on the day.
The e-mini Dow ended the session today at 12,376 with a gain of 139 points on the trading session. The total Dow Exchange Volume for the day came in at 171,676 which are comprised of Electronic, Open Auction and Cash Exchange. Traders should review workshops available at the CBOT (Chicago Board of Trade) Educational in-person seminars schedules available on CBOT (Chicago Board of Trade) website.
The end of day results for the CBOT (Chicago Board of Trade) which is comprised of the total Exchange Volume for Futures and Options (EVFO) including Electronic, Open Auction and Cash Exchange ended the day at 3,520,912; Open Interest for Futures moved lower by 3,690 points to close at 10,143,030; the Open Interest for Options moved higher by 71,241 points to close at 10,143,030 and the Cleared Only closed higher by 296 points to close at 24,814 for a total Open Interest on the day of 20,729,939 for a total Change on the day with a gain of 67,847 points.
Monitor scheduled economic data every market morning by viewing the Daily Market Report from Millennium-Traders, free access to visitors on our website.
Numerous Free Offers available from Sponsors with processed subscriptions to Free Trial or other services from Millennium-Traders: Investors Business Daily, FX Solutions, Daily Reckoning, Option Advisor, Zacks Investment Management, MarketFN, Buffett's Investment, United Commodity Traders Inc, Free Gold Futures Starter Kit plus, HotStix Weekly Report.
Review archived News & Commentary's plus our FREE Monthly Trading Lesson posted on our website.
Thanks for reading
Millennium-Traders.Com
To view additional Daily Market Commentary's Click Here
At the closing bell on the Stock Exchange, here is how the major indices ended the session on the U.S. Markets:
DOW (Dow Jones Industrial Average) triple digit gain of 133.40 points on the day to end the session at 12,373.41
NYSE (New York Stock Exchange) gain of 97.07 points to end the session at 8,965.35
NASDAQ loss of 0.02 points for a close at 2,320.04
S&P 500 gain of 9.73 points for a close at 1,348.86
RUSSELL 2000 gain of 5.73 points to close at 705.48
FTSE All-World ex-U.S. gain of 3.81 points to close at 237.96
FTSE RAFI 1000 gain of 38.91 points to close at 5,543.60
BEL 20 gain of 110.8 points to close at 3,694.05
CAC 40 gain of 158.01 points to close at 4,840.71
FTSE100 gain of 202.3 points to close at 5,910.00
NIKKEI 225 gain of 4.8 points to close at 13,022.00
On the NYSE today, advancers came in at 1,972 decliners totaled 1,213; unchanged came in at 81; new highs came in at 49 and new lows came in at 49. Momentum stocks traded by active Day Traders on the NYSE today: Potash Corporation of Saskatchewan, Incorporated (POT) gained 5.20 points with a high on the day of $154.63, a low of $146.01 for a closing price at $149.28; CME Group, Incorporated (CME) gained 8.75 points with a high on the day of $543.67, a low of $523.71 for a closing price at $530.25; Petroleo Brasileiro (PBR) shed 1.35 points with a high on the day of $117.95, a low of $112.55 for a closing price at $113.75; CF Industries Holdings, Incorporated (CF) gained 1.56 points with a high on the day of $119.91, a low of $111.80 for a closing price at $113.06; Mosaic Corporation (MOS) gained 0.88 points with a high on the day of $106.16, a low of $99.09 for a closing price at $100.41; Rio Tinto plc (RTP) gained 16.18 points with a high on the day of $434.00, a low of $423.25 for a closing price at $428.18; Arch Coal Incorporated (ACI) shed 3.89 points with a high on the day of $55.21, a low of $49.55 for a closing price at $50.87; Monsanto Corporation (MON) gained 1.02 points with a high on the day of $119.95, a low of $114.23 for a closing price at $115.05; Transocean, Incorporated (RIG) shed 2.27 points with a high on the day of $129.94, a low of $124.91 for a closing price at $126.01; Dycom Industries Incorporated (DY) shed 8.01 points with a high on the day of $17.85, a low of $15.00 for a closing price at $15.30; Mastercard Incorporated (MA) shed 2.11 points with a high on the day of $214.58, a low of $202.00 for a closing price at $204.00; CONSOL Energy Incorporated (CNX) shed 3.98 points with a high on the day of $81.89, a low of $75.63 for a closing price at $76.98; Las Vegas Sands Corporation (LVS) shed 0.91 points with a high on the day of $95.26, a low of $90.46 for a closing price at $91.44; NVR Incorporated (NVR) shed 12.68 points with a high on the day of $586.30, a low of $558.00 for a closing price at $563.00.
On the NASDAQ today, advanced totaled 1,699; decliners totaled 1,300; unchanged came in at 134; new highs came in at 32 and new lows came in at 102. Momentum stocks traded by active Day Traders on the NASDAQ today: First Solar, Incorporated (FSLR) shed 14.08 points with a high on the day of $198.41, a low of $172.38 for a closing price at $175.56; SunPower Corporation (SPWR) shed 2.28 points with a high on the day of $78.01, a low of $70.33 for a closing price at $71.30; Baidu.com Incorporated (BIDU) shed 1.28 points with a high on the day of $266.27, a low of $241.32 for a closing price at $245.43; Apple Incorporated (AAPL) shed 4.59 points with a high on the day of $131.00, a low of $123.62 for a closing price at $124.86; Cbeyond, Incorporated (CBEY) gained 1.30 points with a high on the day of $29.19, a low of $26.43 for a closing price at $26.87; Cynosure, Incorporated (CYNO) shed 3.65 points with a high on the day of $26.87, a low of $21.71 for a closing price at $22.04; Google Incorporated (GOOG) shed 3.07 points with a high on the day of $530.60, a low of $513.03 for a closing price at $518.09; Zoltek Companies Incorporated (ZOLT) shed 6.69 points with a high on the day of $28.29, a low of $25.55 for a closing price at $25.94.
President Federal Reserve Bank of San Francisco, Janet L. Yellen commented today: Reiterates Accommodative Stance is Appropriate. Largely Reiterates Speech made Last Week; U.S. Economy to Experience Slow Growth, Not Recession; Economic Prospects are `Unusually Uncertain'; Core Inflation to Moderate On U.S. Slowdown; Fed's Own Surveys Show Tightening Credit Terms; Net Exports Will Add to US Econ Growth; Clear Fed Objective to Avoid Negative Feedback in Economy; Fiscal Package May Help Economy in 2H 2008, Early 2009; Fiscal Package May Help Economy at Weakest Point; Fiscal Package Won't Have Permanent Impact on GDP; U.S. Election Year Shouldn't Affect Economy'; Fed and Others Have Plenty of Soul Searching to do; Fed Not Entirely Immune From Blame for Sub-prime Mess; Regulators Can't Resolve all Credit Market Problems; Must Remain Focused on Downside Risks to Economy; Still Sees Slower Growth Rather than Recession; Too Early to Talk About Removing Accommodative Rates; Time Will Come When Fed Has to Move on Inflation; Still Have Some Tensions in Money Markets; Money Market Tensions Mitigated, Not Absent; Fed Doesn't Want to be Perceived as Bailing Out Markets; People are Certainly Taking Losses; Fed's Focus is the Economy and Innocent Bystanders. The U.S. faces the prospect of much slower growth in 2008 but, the Federal Reserve's decision to cut interest rates should prevent a slide into recession per San Francisco Federal Reserve President Janet Yellen in prepared remarks to the San Francisco Planning and Urban Research Association. "I consider it most probable that the U.S. economy will experience slow growth, and not outright recession, in coming quarters," Remarks were largely the same as those delivered Thursday in Hawaii. Economic prospects are "unusually uncertain," Yellen said, and the economy may decline further but, the Fed's policy actions "should help to promote a pickup in growth over time." The Fed's "accommodative" stance on interest rates is "appropriate," Yellen said. To date, the Fed has slashed its target interest rate from 5.25% to 3% over the past five months, and many market watchers expect that rate to drop to 2% later this year. While her remarks again gave no outright endorsement of further rate cuts, Yellen observed that the U.S. economy is now suffering more broadly from the housing market downturn and sharper credit constraints. Yellen is not a voting member on the Fed's rate-setting committee this year but, her views are closely followed for her insights into one of the regions worst hit by slumping house prices and mounting foreclosures. At the national level, housing construction will "probably continue to contract through the end of this year," Yellen said. Problems in the housing sector are starting to exert a strain on the U.S. consumer, which accounts for around 70% of the economy. "Slower job growth will have a negative impact on the disposable income available to households and therefore will provide an additional restraint on consumer spending," Yellen said. Warning of a vicious cycle whereby slower growth puts further pressure on the financial system, as banks tighten their lending practices even further. "An important objective of Fed policy is to mitigate the possibility that such a negative feedback loop could develop and take hold," the central banker said. Though the banking community entered this difficult phase in good health Yellen said, large write-downs on subprime-related assets have hurt many and put increased pressure on some firms' capital positions. "The turbulence in financial markets is due to some fundamental problems that are not likely to be resolved quickly," the central banker said.
Philadelphia Fed Survey released today: Economists do not see U.S. Recession; Economists see increase by 0.7% 1Q U.S. GDP and increase by 1.3% 2Q GDP; U.S. GDP likely to Rise by 1.8% in 2008; U.S. Unemployment Rate to Rise to 5.2% by late 2008; No Further Inflation Acceleration Seen.
Commodities Markets
The trend was lower across the board today for the Energy Sector: Light crude moved lower today by $0.81 to close at $92.78 a barrel; Heating Oil moved lower today by $0.01 to close at $2.56 a gallon; Natural Gas moved lower today by $0.10 to close at $8.44 per million BTU and Unleaded Gas moved lower today by $0.03 to close at $2.37 a gallon.
Metals Markets ended the session lower across the board today: Gold moved sharply lower today by $15.60 to close at $911.10 a Troy ounce; Silver moved lower today by $0.11 to close at $17.14 per Troy ounce; Platinum moved sharply lower today by $17.60 to close at $1,921.80 per Troy ounce and Copper closed with no change at $3.56 per pound.
On the Livestock and Meat Markets, the trend was mostly lower across the board today: Lean Hogs ended the day higher by $0.80 to close at $65.88; Pork Bellies ended the day lower by $0.25 to close at $97.38; Live Cattle ended the day lower by $0.33 to close at $94.78 and Feeder Cattle ended the day lower by $0.15 at $105.75.
Other Commodities: Corn ended the day lower by $5.75 at $497.75 and Soybeans moved lower today by $5.00 to end the session at $1,321.00.
Bonds were mostly lower across the board today: 2 year bond moved higher by 1/32 to close at 100 13/32; 5 year bond moved lower by 5/32 to close at 100 28/32 today; 10 year bond moved lower by 10/32 to close at 98 22/32 and the 30 year bond moved lower by 28/32 to close at 98 22/32 on the day.
The e-mini Dow ended the session today at 12,376 with a gain of 139 points on the trading session. The total Dow Exchange Volume for the day came in at 171,676 which are comprised of Electronic, Open Auction and Cash Exchange. Traders should review workshops available at the CBOT (Chicago Board of Trade) Educational in-person seminars schedules available on CBOT (Chicago Board of Trade) website.
The end of day results for the CBOT (Chicago Board of Trade) which is comprised of the total Exchange Volume for Futures and Options (EVFO) including Electronic, Open Auction and Cash Exchange ended the day at 3,520,912; Open Interest for Futures moved lower by 3,690 points to close at 10,143,030; the Open Interest for Options moved higher by 71,241 points to close at 10,143,030 and the Cleared Only closed higher by 296 points to close at 24,814 for a total Open Interest on the day of 20,729,939 for a total Change on the day with a gain of 67,847 points.
Monitor scheduled economic data every market morning by viewing the Daily Market Report from Millennium-Traders, free access to visitors on our website.
Numerous Free Offers available from Sponsors with processed subscriptions to Free Trial or other services from Millennium-Traders: Investors Business Daily, FX Solutions, Daily Reckoning, Option Advisor, Zacks Investment Management, MarketFN, Buffett's Investment, United Commodity Traders Inc, Free Gold Futures Starter Kit plus, HotStix Weekly Report.
Review archived News & Commentary's plus our FREE Monthly Trading Lesson posted on our website.
Thanks for reading
Millennium-Traders.Com
To view additional Daily Market Commentary's Click Here
