Daily Market Commentary for February 26, 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 114.70 points on the day to end the session at 12,684.92
NYSE (New York Stock Exchange) gain of 92.87 points to end the session at 9,302.95
NASDAQ gain of 17.51 points for a close at 2,344.99
S&P 500 gain of 9.48 points for a close at 1,381.28
RUSSELL 2000 gain of 6.85 points to close at 717.31
FTSE All-World ex-U.S. gain of 2.67 points to close at 247.25
FTSE RAFI 1000 gain of 34.51 points to close at 5,672.59
BEL 20 gain of 60.9 points to close at 3,794.86
CAC 40 gain of 53.81 points to close at 4,973.07
FTSE100 gain of 87.9 points to close at 6,087.40
NIKKEI 225 shed of 89.9 points to close at 13,824.70
On the NYSE today, advancers came in at 2,164, decliners totaled 1,002; unchanged came in at 80; new highs came in at 77 and new lows came in at 23. Momentum NYSE stocks traded by active Day Traders today: Potash Corp. of Saskatchewan, Incorporated (POT) shed 2.89 points with a high on the day of $166.40, a low of $160.30 for a closing price at $161.34; CME Group, Incorporated (CME) shed 2.41 points with a high on the day of $534.97, a low of $516.25 for a closing price at $528.59; Suntech Power Holdings Corporation Limited (STP) gained 3.78 points with a high on the day of $40.84, a low of $36.40 for a closing price at $40.68; NYMEX Holdings Incorporated (NMX) shed 2.06 points with a high on the day of $104.13, a low of $100.62 for a closing price at $102.17; Mosaic Corporation (MOS) shed 1.28 points with a high on the day of $119.78, a low of $114.30 for a closing price at $115.78; Petroleo Brasileiro (PBR) gained 1.85 points with a high on the day of $122.74, a low of $117.67 for a closing price at $121.75; Ensco International Incorporated (ESV) gained 2.58 points with a high on the day of $61.38, a low of $59.06 for a closing price at $60.77; Transocean, Incorporated (RIG) gained 3.11 points with a high on the day of $144.40, a low of $139.72 for a closing price at $143.76; International Business Machines Corporation (IBM) gained 114.38 points with a high on the day of $109.05, a low of $114.99 for a closing price at $114.38; InterContinental Exchange, Incorporated (ICE) shed 4.05 points with a high on the day of $139.96, a low of $134.76 for a closing price at $135.51; LDK Solar Corporation Limited (LDK) shed 2.00 points with a high on the day of $29.67, a low of $31.60 for a closing price at $30.46; USEC Incorporated (USU) shed 2.43 points with a high on the day of $7.79, a low of $6.41 for a closing price at $6.82; Stillwater Mining Corporation (SWC) shed 0.02 points with a high on the day of $19.50, a low of $17.77 for a closing price at $19.03; Reliant Energy Incorporated (RRI) gained 1.76 points with a high on the day of $24.51, a low of $23.34 for a closing price at $24.50; Target Corporation (TGT) gained 1.64 points with a high on the day of $55.48, a low of $52.89 for a closing price at $54.89; Precision Castparts Corporation (PCP) shed 0.17 points with a high on the day of $115.98, a low of $111.22 for a closing price at $115.77; Valmont Industries, Incorporated (VMI) gained 3.09 points with a high on the day of $84.80, a low of $80.63 for a closing price at $83.72; Companhia de Bebidas Das Americas (AMBEV) (ABV) gained 3.05 points with a high on the day of $85.13, a low of $80.64 for a closing price at $84.40; SPX Corporation (SPW) shed 0.44 points with a high on the day of $112.50, a low of $108.01 for a closing price at $111.44; MBIA Incorporated (MBI) gained 0.70 points with a high on the day of $15.45, a low of $13.88 for a closing price at $15.28; Inverness Medical Innovations Incorporated (IMA) shed 3.95 points with a high on the day of $38.01, a low of $33.00 for a closing price at $33.46.
On the NASDAQ today, advanced totaled 1,891; decliners totaled 1,077; unchanged came in at 130; new highs came in at 33 and new lows came in at 58. Momentum NASDAQ stocks traded by active Day Traders today: Google Incorporated (GOOG) shed 22.25 points with a high on the day of $466.47, a low of $446.85 for a closing price at $464.19; Healthways Incorporated (HWAY) shed 13.93 points with a high on the day of $32.44, a low of $28.43 for a closing price at $31.93; Apple Incorporated (AAPL) shed 0.59 points with a high on the day of $121.09, a low of $115.44 for a closing price at $119.15; Ceradyne Incorporated (CRDN) shed 11.40 points with a high on the day of $37.44, a low of $34.21 for a closing price at $35.75; Foster Wheeler, Limited (FWLT) shed 11.90 points with a high on the day of $74.87, a low of $66.42 for a closing price at $67.26; Baidu.com, Incorporated (BIDU) shed 3.21 points with a high on the day of $241.93, a low of $227.50 for a closing price at $237.80; Tessera Technologies Incorporated (TSRA) shed 12.52 points with a high on the day of $36.49, a low of $22.15 for a closing price at $24.19; Sigma Designs Incorporated (SIGM) shed 3.56 points with a high on the day of $34.92, a low of $29.90 for a closing price at $30.61; Garmin Limited (GRMN) shed 1.00 points with a high on the day of $62.81, a low of $59.50 for a closing price at $61.78; First Solar, Incorporated (FSLR) gained 1.79 points with a high on the day of $225.86, a low of $212.66 for a closing price at $220.69.
U.S. January Producer Prices rose 1.0% versus consensus of an increase of 0.4%; U.S. January PPI Excluding-Food & Energy rose 0.4% versus consensus of an increase of 0.2%; U.S. January PPI Intermediate Goods rose 1.4%; U.S. January PPI Intermediate Goods Core rose 0.8%; U.S. January PPI Crude Goods rose 2.5%; U.S. January PPI Crude Goods Core rose 4.0%; U.S. January PPI Energy Prices rose 1.5%; U.S. January Passenger Car Prices rose 0.3%; U.S. December PPI Revised to a drop by 0.3% from a drop by 0.1%.
U.S. Conference Board February Consumer Confidence came in at 75 versus reading of 87.3 in January; Conference Board February Present Situation Index came in at 100.6 versus January reading of 114.3; Conference Board February Expectations Index came in at 57.9 versus January reading of 69.3.
Federal Deposit Insurance Corporation: Banking Industry Earnings fell Precipitously in 4Q; Overdue Construction, Mortgage and Credit Card Loans Climb; 4Q Bank Earnings lowest since 1991.
Richmond Fed: February Manufacturing Index fell 5 versus January decrease by 8; February Manufacturing Shipments Index fell 4 versus January decrease by 17; February Services Revenues Index came in at 1 versus January decrease by 12; February Retail Revenues Index fell 25 versus January decrease by 30.
Federal Reserve Board Member Donald L. Kohn: Fed 'Will do what is needed' to Restore Growth; Weighing if Fed has done enough to limit Economic Risks; Economy very Sluggish, Downside Risks Abound; Financial Market Recovery likely a 'Prolonged Process'; Housing Correction has further to go; Rate Cuts Will Cushion, Not Stop, Housing Downturn; Rate Cuts should Support Asset Prices; Rate Cuts Factor in Dollar Drop, helping Exports; Jobless Claims suggest more Labor Softness in February; Inflation Disappointing but should Moderate; Economy should pick up around midyear, but many risks.
European Central Bank Lucas D. Papademos: CPI to Moderate more Slowly than Foreseen; Market Risk Reappraisal likely to last some time; Economic Outlook Risks linked to Financial Markets; Euro CPI Risks Upward, Economic Risks Downward; Financial Market Economic Impact not likely Sizeable; Sound Euro-Zone Fundamentals to Cushion Impact; Credit Available not Significantly Constrained; Money Market Clearly not back to Normal; Banks able to Satisfy Dollar Liquidity Needs; Unusually High Uncertainty about Economic Outlook; CPI to Moderate more Slowly than Foreseen.
Commodities Markets
The trend was higher across the board today for the Energy Sector: Light crude moved higher today by $1.65 to close at $100.88 a barrel; Heating Oil moved higher today by $0.03 to close at $2.79 a gallon; Natural Gas moved higher today by $0.03 to close at $9.25 per million BTU and Unleaded Gas moved higher today by $0.01 to close at $2.55 a gallon.
Metals Markets ended the session higher across the board today: Gold moved higher today by $8.40 to close at $948.90 a Troy ounce; Silver moved higher today by $0.64 to close at $18.72 per Troy ounce; Platinum moved higher today by $2.40 to close at $2,155.90 per Troy ounce and Copper closed higher by $0.04 to close at $3.79 per pound.
On the Livestock and Meat Markets, the trend was mostly higher across the board today: Lean Hogs ended the day higher by $0.25 to close at $60.75; Pork Bellies ended the day lower by $1.00 to close at $94.30; Live Cattle ended the day higher by $0.68 to close at $95.50 and Feeder Cattle ended the day higher by $0.25 at $107.70.
Other Commodities: Corn ended the day lower by $3.00 at $543.50 and Soybeans moved nicely higher today by $15.00 to end the session at $1,485.00.
Bonds were mostly higher across the board today: 2 year bond moved higher by 5/32 to close at 100 5/32; 5 year bond moved higher by 9/32 to close at 99 29/32 today; 10 year bond moved higher by 7/32 to close at 96 31/32 and the 30 year bond moved lower by 1/32 to close at 95 13/32 on the day.
The e-mini Dow ended the session today at 12,665 with a gain of 99 points on the trading session. The total Dow Exchange Volume for the day came in at 219,761 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 5,796,224; Open Interest for Futures moved higher by 187,798 points to close at 10,696,101; the Open Interest for Options moved higher by 206,435 points to close at 6,658,655 and the Cleared Only closed with no change to close at 27,756 for a total Open Interest on the day of 17,382,512 for a total Change on the day with a gain of 394,233 points.
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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 114.70 points on the day to end the session at 12,684.92
NYSE (New York Stock Exchange) gain of 92.87 points to end the session at 9,302.95
NASDAQ gain of 17.51 points for a close at 2,344.99
S&P 500 gain of 9.48 points for a close at 1,381.28
RUSSELL 2000 gain of 6.85 points to close at 717.31
FTSE All-World ex-U.S. gain of 2.67 points to close at 247.25
FTSE RAFI 1000 gain of 34.51 points to close at 5,672.59
BEL 20 gain of 60.9 points to close at 3,794.86
CAC 40 gain of 53.81 points to close at 4,973.07
FTSE100 gain of 87.9 points to close at 6,087.40
NIKKEI 225 shed of 89.9 points to close at 13,824.70
On the NYSE today, advancers came in at 2,164, decliners totaled 1,002; unchanged came in at 80; new highs came in at 77 and new lows came in at 23. Momentum NYSE stocks traded by active Day Traders today: Potash Corp. of Saskatchewan, Incorporated (POT) shed 2.89 points with a high on the day of $166.40, a low of $160.30 for a closing price at $161.34; CME Group, Incorporated (CME) shed 2.41 points with a high on the day of $534.97, a low of $516.25 for a closing price at $528.59; Suntech Power Holdings Corporation Limited (STP) gained 3.78 points with a high on the day of $40.84, a low of $36.40 for a closing price at $40.68; NYMEX Holdings Incorporated (NMX) shed 2.06 points with a high on the day of $104.13, a low of $100.62 for a closing price at $102.17; Mosaic Corporation (MOS) shed 1.28 points with a high on the day of $119.78, a low of $114.30 for a closing price at $115.78; Petroleo Brasileiro (PBR) gained 1.85 points with a high on the day of $122.74, a low of $117.67 for a closing price at $121.75; Ensco International Incorporated (ESV) gained 2.58 points with a high on the day of $61.38, a low of $59.06 for a closing price at $60.77; Transocean, Incorporated (RIG) gained 3.11 points with a high on the day of $144.40, a low of $139.72 for a closing price at $143.76; International Business Machines Corporation (IBM) gained 114.38 points with a high on the day of $109.05, a low of $114.99 for a closing price at $114.38; InterContinental Exchange, Incorporated (ICE) shed 4.05 points with a high on the day of $139.96, a low of $134.76 for a closing price at $135.51; LDK Solar Corporation Limited (LDK) shed 2.00 points with a high on the day of $29.67, a low of $31.60 for a closing price at $30.46; USEC Incorporated (USU) shed 2.43 points with a high on the day of $7.79, a low of $6.41 for a closing price at $6.82; Stillwater Mining Corporation (SWC) shed 0.02 points with a high on the day of $19.50, a low of $17.77 for a closing price at $19.03; Reliant Energy Incorporated (RRI) gained 1.76 points with a high on the day of $24.51, a low of $23.34 for a closing price at $24.50; Target Corporation (TGT) gained 1.64 points with a high on the day of $55.48, a low of $52.89 for a closing price at $54.89; Precision Castparts Corporation (PCP) shed 0.17 points with a high on the day of $115.98, a low of $111.22 for a closing price at $115.77; Valmont Industries, Incorporated (VMI) gained 3.09 points with a high on the day of $84.80, a low of $80.63 for a closing price at $83.72; Companhia de Bebidas Das Americas (AMBEV) (ABV) gained 3.05 points with a high on the day of $85.13, a low of $80.64 for a closing price at $84.40; SPX Corporation (SPW) shed 0.44 points with a high on the day of $112.50, a low of $108.01 for a closing price at $111.44; MBIA Incorporated (MBI) gained 0.70 points with a high on the day of $15.45, a low of $13.88 for a closing price at $15.28; Inverness Medical Innovations Incorporated (IMA) shed 3.95 points with a high on the day of $38.01, a low of $33.00 for a closing price at $33.46.
On the NASDAQ today, advanced totaled 1,891; decliners totaled 1,077; unchanged came in at 130; new highs came in at 33 and new lows came in at 58. Momentum NASDAQ stocks traded by active Day Traders today: Google Incorporated (GOOG) shed 22.25 points with a high on the day of $466.47, a low of $446.85 for a closing price at $464.19; Healthways Incorporated (HWAY) shed 13.93 points with a high on the day of $32.44, a low of $28.43 for a closing price at $31.93; Apple Incorporated (AAPL) shed 0.59 points with a high on the day of $121.09, a low of $115.44 for a closing price at $119.15; Ceradyne Incorporated (CRDN) shed 11.40 points with a high on the day of $37.44, a low of $34.21 for a closing price at $35.75; Foster Wheeler, Limited (FWLT) shed 11.90 points with a high on the day of $74.87, a low of $66.42 for a closing price at $67.26; Baidu.com, Incorporated (BIDU) shed 3.21 points with a high on the day of $241.93, a low of $227.50 for a closing price at $237.80; Tessera Technologies Incorporated (TSRA) shed 12.52 points with a high on the day of $36.49, a low of $22.15 for a closing price at $24.19; Sigma Designs Incorporated (SIGM) shed 3.56 points with a high on the day of $34.92, a low of $29.90 for a closing price at $30.61; Garmin Limited (GRMN) shed 1.00 points with a high on the day of $62.81, a low of $59.50 for a closing price at $61.78; First Solar, Incorporated (FSLR) gained 1.79 points with a high on the day of $225.86, a low of $212.66 for a closing price at $220.69.
U.S. January Producer Prices rose 1.0% versus consensus of an increase of 0.4%; U.S. January PPI Excluding-Food & Energy rose 0.4% versus consensus of an increase of 0.2%; U.S. January PPI Intermediate Goods rose 1.4%; U.S. January PPI Intermediate Goods Core rose 0.8%; U.S. January PPI Crude Goods rose 2.5%; U.S. January PPI Crude Goods Core rose 4.0%; U.S. January PPI Energy Prices rose 1.5%; U.S. January Passenger Car Prices rose 0.3%; U.S. December PPI Revised to a drop by 0.3% from a drop by 0.1%.
U.S. Conference Board February Consumer Confidence came in at 75 versus reading of 87.3 in January; Conference Board February Present Situation Index came in at 100.6 versus January reading of 114.3; Conference Board February Expectations Index came in at 57.9 versus January reading of 69.3.
Federal Deposit Insurance Corporation: Banking Industry Earnings fell Precipitously in 4Q; Overdue Construction, Mortgage and Credit Card Loans Climb; 4Q Bank Earnings lowest since 1991.
Richmond Fed: February Manufacturing Index fell 5 versus January decrease by 8; February Manufacturing Shipments Index fell 4 versus January decrease by 17; February Services Revenues Index came in at 1 versus January decrease by 12; February Retail Revenues Index fell 25 versus January decrease by 30.
Federal Reserve Board Member Donald L. Kohn: Fed 'Will do what is needed' to Restore Growth; Weighing if Fed has done enough to limit Economic Risks; Economy very Sluggish, Downside Risks Abound; Financial Market Recovery likely a 'Prolonged Process'; Housing Correction has further to go; Rate Cuts Will Cushion, Not Stop, Housing Downturn; Rate Cuts should Support Asset Prices; Rate Cuts Factor in Dollar Drop, helping Exports; Jobless Claims suggest more Labor Softness in February; Inflation Disappointing but should Moderate; Economy should pick up around midyear, but many risks.
European Central Bank Lucas D. Papademos: CPI to Moderate more Slowly than Foreseen; Market Risk Reappraisal likely to last some time; Economic Outlook Risks linked to Financial Markets; Euro CPI Risks Upward, Economic Risks Downward; Financial Market Economic Impact not likely Sizeable; Sound Euro-Zone Fundamentals to Cushion Impact; Credit Available not Significantly Constrained; Money Market Clearly not back to Normal; Banks able to Satisfy Dollar Liquidity Needs; Unusually High Uncertainty about Economic Outlook; CPI to Moderate more Slowly than Foreseen.
Commodities Markets
The trend was higher across the board today for the Energy Sector: Light crude moved higher today by $1.65 to close at $100.88 a barrel; Heating Oil moved higher today by $0.03 to close at $2.79 a gallon; Natural Gas moved higher today by $0.03 to close at $9.25 per million BTU and Unleaded Gas moved higher today by $0.01 to close at $2.55 a gallon.
Metals Markets ended the session higher across the board today: Gold moved higher today by $8.40 to close at $948.90 a Troy ounce; Silver moved higher today by $0.64 to close at $18.72 per Troy ounce; Platinum moved higher today by $2.40 to close at $2,155.90 per Troy ounce and Copper closed higher by $0.04 to close at $3.79 per pound.
On the Livestock and Meat Markets, the trend was mostly higher across the board today: Lean Hogs ended the day higher by $0.25 to close at $60.75; Pork Bellies ended the day lower by $1.00 to close at $94.30; Live Cattle ended the day higher by $0.68 to close at $95.50 and Feeder Cattle ended the day higher by $0.25 at $107.70.
Other Commodities: Corn ended the day lower by $3.00 at $543.50 and Soybeans moved nicely higher today by $15.00 to end the session at $1,485.00.
Bonds were mostly higher across the board today: 2 year bond moved higher by 5/32 to close at 100 5/32; 5 year bond moved higher by 9/32 to close at 99 29/32 today; 10 year bond moved higher by 7/32 to close at 96 31/32 and the 30 year bond moved lower by 1/32 to close at 95 13/32 on the day.
The e-mini Dow ended the session today at 12,665 with a gain of 99 points on the trading session. The total Dow Exchange Volume for the day came in at 219,761 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 5,796,224; Open Interest for Futures moved higher by 187,798 points to close at 10,696,101; the Open Interest for Options moved higher by 206,435 points to close at 6,658,655 and the Cleared Only closed with no change to close at 27,756 for a total Open Interest on the day of 17,382,512 for a total Change on the day with a gain of 394,233 points.
Monitor scheduled economic data every market morning by viewing the Daily Market Report from Millennium-Traders, free access to visitors on our website.
Subscribe to our free Weekly MarketNews for a review of the past weeks trading action plus, view upcoming economic data for the week ahead.
Review archives of the News & Commentary 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
