Daily Market Commentary for December 11, 2008 from Millennium-Traders.Com
The weak U.S. labor market, per data released this morning as well as, ailing trade data released this morning indicates we are in a deep recession. (read more)
Economic data released today:
Import and Export Prices:
U.S. November Import Prices fell 6.7% compared to consensus of a drop by 6.0%; U.S. November Non-Petroleum Import Prices fell 1.8%; U.S. November Petroleum Import Prices fell 25.8%; U.S. November Import Price Drop Largest on Record; U.S. Import Prices of Autos Post 16-Year High Drop.
Jobless Claims:
U.S. Jobless Claims rose by 58K to 573K in week of December 6 compared to survey of an increase by 24K; U.S. Continuing Claims for week of November 29 increased by 338K to 4,429,000; U.S. Jobless Claims for week of November 29 revised to 515K from 509K; U.S. Initial Jobless Claims Rise to 26-Year High; U.S. Weekly Rise in Continuing Claims Highest in 34 Years.
International Trade:
U.S. October Trade Deficit came in at $57.19B compared to consensus Deficit of $52.8B; U.S. September Trade Balance Revised to Deficit of $56.56B from Deficit $56.47B; U.S. October Exports came in at $151.73B lower by 2.2%; U.S. October Imports came in at $208.92B down 1.3%.
Companies in the news today:
Google (NasdaqGS: GOOG) accounts for 71.97% of all U.S. searches during November; Yahoo (NasdaqGS: YHOO) accounts for 17.7% of all U.S. searches during November; MSN accounts for 5.45% of all U.S. searches during November; Procter & Gamble (NYSE: PG) reported they will miss their prior 4Q estimate; Eli Lilly (NYSE: LLY) reported earnings for 2009 is expected to come in below analysts' expectations.
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) triple digit loss of 196.33 points to end the trading session at 8,565.09
NYSE (New York Stock Exchange) triple digit loss of 126.34 points to end the trading session at 5,504.73
National Association of Securities Dealers Automated Quotations (NASDAQ) loss of 57.60 points to end the trading session at 1,507.88
S&P 500 (SPX) loss of 25.65 points to end the trading session at 873.59
FTSE All-World Index data excluding U.S. (AW01UK) loss of 0.59 points to end the trading session at 145.57
FTSE RAFI 1000 triple digit loss of 118.07 points to end the trading session at 3,345.89
BEL 20 (BEL20) loss of 26.54 points to end the trading session at 1,879.70
CAC 40 (CAC40) loss of 14.18 points to end the trading session at 3,306.13
FTSE100 (UKX100) gain of 21.41 points to end the trading session at 4,388.69
NIKKEI 225 (NIK/O) gain of 60.31 points to end the trading session at 8,720.55
New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 709, declined stock prices 2,472; unchanged stock prices 56; stock prices hitting new highs 7 and stock prices hitting new lows 66. 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: Hanesbrands Incorporated (NYSE: HBI) stock price shed 3.46 points on the trading session, high on the trading session $13.88, low on the trading session $10.85 with a closing stock price at $11.01; Greif Incorporated (NYSE: GEF) stock price gained 4.45 points on the trading session, high on the trading session $35.18, low on the trading session $29.42 with a closing stock price at $34.05; Apache Corporation (NYSE: APA) stock price shed 1.22 points on the trading session, high on the trading session $77.29, low on the trading session $72.01 with a closing stock price at $72.94; Rio Tinto (NYSE: RTP) stock price shed 3.99 points on the trading session, high on the trading session $95.25, low on the trading session $88.88 with a closing stock price at $90.51; CME Group Incorporated (NYSE: CME) stock price shed 7.67 points on the trading session, high on the trading session $234.88, low on the trading session $2113.13 with a closing stock price at $213.70; ProShares Ultrashort S&P 500 (NYSE: SDS) stock price gained 4.11 points on the trading session, high on the trading session $89.21, low on the trading session $82.56 with a closing stock price at $87.91; ProShares Ultrashort Financials (NYSE: SKF) stock price gained 17.18 points on the trading session, high on the trading session $130.43, low on the trading session $113.00 with a closing stock price at $128.88 ProShares Ultrashort QQQ (NYSE: QID) stock price gained 3.67 points on the trading session, high on the trading session $71.59, low on the trading session $65.80 with a closing stock price at $70.93; Devon Energy Corporation (NYSE: DVN) stock price shed 1.59 points on the trading session, high on the trading session $75.30, low on the trading session $69.51 with a closing stock price at $70.97; ProShares Ultrashort Real Estate (NYSE: SRS) stock price gained 19.58 points on the trading session, high on the trading session $99.31, low on the trading session $78.55 with a closing stock price at $96.30.
National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 763 declined stock prices 2,064; unchanged stock prices 137; stock prices hitting new highs 3 and stock prices hitting new lows 83. 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: Baidu.com Incorporated (NasdaqGS: BIDU) stock price gained 6.76 points on the trading session, high on the trading session $121.00, low on the trading session $107.80 with a closing stock price at $111.30; Urban Outfitters Incorporated (NasdaqGS: URBN) stock price shed 3.72 points on the trading session, high on the trading session $15.88, low on the trading session $14.68 with a closing stock price at $15.14; Costco Wholesale Corporation (NasdaqGS: COST) stock price shed 1.77 points on the trading session, high on the trading session $53.47, low on the trading session $50.70 with a closing stock price at $51.92; First Solar Incorporated (NasdaqGS: FSLR) stock price shed 2.11 points on the trading session, high on the trading session $126.45, low on the trading session $115.37 with a closing stock price at $117.57.
Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 252; declined stock prices 343; unchanged stock prices 75; stock prices hitting new highs 3 and stock prices hitting new lows 28.
Chicago Board of Trade Futures Market activity for the day, at time of this posting for December 2008 Contracts:
E-mini S&P 500 (ES): End of trading session price 873.50; Change for the trading session -22.25
E-mini NASDAQ-100 (NQ): End of trading session price 1,183.00; Change for the trading session -34.00
E-mini DOW $5 (YM): End of trading session price 8,589; Change for the trading session -129
E-mini S&P MidCap 400 (MF): End of trading session price 492.00; Change for the trading session -24.70
E-mini S&P Small Cap 600 (HS): End of trading session price 240.60; Change for the trading session -14.70
World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7496 to U.S. Dollars 1.3340
Japanese Yen 91.7400 to U.S. Dollars 0.0109
British Pound 0.6660 to U.S. Dollars 1.5014
Canadian Dollar 1.2352 to U.S. Dollars 0.8096
Swiss Franc 1.1847 to U.S. Dollars 0.8441
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (January 09) gained $4.46 on the trading session for a closing price of $47.98 per barrel ($US per barrel)
Heating Oil (January 09) gained $0.10 on the trading session for a closing price of $1.51 a gallon ($US per gallon)
Natural Gas (January 09) shed $0.09 on the trading session for a closing price of $5.60 per million BTU ($US per mmbtu.)
Unleaded Gas (December 08) gained $0.11 on the trading session for a closing price of $1.08 a gallon ($US per gallon)
Metals Markets - Comex:
Gold (February 09) gained $17.80 on the trading session for a closing price of $826.60 ($US per Troy ounce)
Silver (March 09) gained $0.23 on the trading session for a closing price of $10.43 ($US per Troy ounce)
Platinum (January 09) gained $5.50 on the trading session for a closing price of $845.50 ($US per Troy ounce)
Copper (March 09) gained $0.02 on the trading session for a closing price of $1.51 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (October 09) shed 0.75 on the trading session for a closing price of 62.38
Pork Bellies (February 09) shed 2.08 on the trading session for a closing price of 82.43
Live Cattle (February 09) gained 0.03 on the trading session for a closing price of 83.83
Feeder Cattle (January 09) gained 0.45 on the trading session for a closing price of 87.33
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (March 09) gained 9.50 on the trading session for a closing price of 352.00
Soybeans (January 09) gained 27.00 on the trading session for a closing price of 856.50
BOND MARKET: n/a
Thanks for reading
Millennium-Traders.Com
The weak U.S. labor market, per data released this morning as well as, ailing trade data released this morning indicates we are in a deep recession. (read more)
Economic data released today:
Import and Export Prices:
U.S. November Import Prices fell 6.7% compared to consensus of a drop by 6.0%; U.S. November Non-Petroleum Import Prices fell 1.8%; U.S. November Petroleum Import Prices fell 25.8%; U.S. November Import Price Drop Largest on Record; U.S. Import Prices of Autos Post 16-Year High Drop.
Jobless Claims:
U.S. Jobless Claims rose by 58K to 573K in week of December 6 compared to survey of an increase by 24K; U.S. Continuing Claims for week of November 29 increased by 338K to 4,429,000; U.S. Jobless Claims for week of November 29 revised to 515K from 509K; U.S. Initial Jobless Claims Rise to 26-Year High; U.S. Weekly Rise in Continuing Claims Highest in 34 Years.
International Trade:
U.S. October Trade Deficit came in at $57.19B compared to consensus Deficit of $52.8B; U.S. September Trade Balance Revised to Deficit of $56.56B from Deficit $56.47B; U.S. October Exports came in at $151.73B lower by 2.2%; U.S. October Imports came in at $208.92B down 1.3%.
Companies in the news today:
Google (NasdaqGS: GOOG) accounts for 71.97% of all U.S. searches during November; Yahoo (NasdaqGS: YHOO) accounts for 17.7% of all U.S. searches during November; MSN accounts for 5.45% of all U.S. searches during November; Procter & Gamble (NYSE: PG) reported they will miss their prior 4Q estimate; Eli Lilly (NYSE: LLY) reported earnings for 2009 is expected to come in below analysts' expectations.
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) triple digit loss of 196.33 points to end the trading session at 8,565.09
NYSE (New York Stock Exchange) triple digit loss of 126.34 points to end the trading session at 5,504.73
National Association of Securities Dealers Automated Quotations (NASDAQ) loss of 57.60 points to end the trading session at 1,507.88
S&P 500 (SPX) loss of 25.65 points to end the trading session at 873.59
FTSE All-World Index data excluding U.S. (AW01UK) loss of 0.59 points to end the trading session at 145.57
FTSE RAFI 1000 triple digit loss of 118.07 points to end the trading session at 3,345.89
BEL 20 (BEL20) loss of 26.54 points to end the trading session at 1,879.70
CAC 40 (CAC40) loss of 14.18 points to end the trading session at 3,306.13
FTSE100 (UKX100) gain of 21.41 points to end the trading session at 4,388.69
NIKKEI 225 (NIK/O) gain of 60.31 points to end the trading session at 8,720.55
New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 709, declined stock prices 2,472; unchanged stock prices 56; stock prices hitting new highs 7 and stock prices hitting new lows 66. 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: Hanesbrands Incorporated (NYSE: HBI) stock price shed 3.46 points on the trading session, high on the trading session $13.88, low on the trading session $10.85 with a closing stock price at $11.01; Greif Incorporated (NYSE: GEF) stock price gained 4.45 points on the trading session, high on the trading session $35.18, low on the trading session $29.42 with a closing stock price at $34.05; Apache Corporation (NYSE: APA) stock price shed 1.22 points on the trading session, high on the trading session $77.29, low on the trading session $72.01 with a closing stock price at $72.94; Rio Tinto (NYSE: RTP) stock price shed 3.99 points on the trading session, high on the trading session $95.25, low on the trading session $88.88 with a closing stock price at $90.51; CME Group Incorporated (NYSE: CME) stock price shed 7.67 points on the trading session, high on the trading session $234.88, low on the trading session $2113.13 with a closing stock price at $213.70; ProShares Ultrashort S&P 500 (NYSE: SDS) stock price gained 4.11 points on the trading session, high on the trading session $89.21, low on the trading session $82.56 with a closing stock price at $87.91; ProShares Ultrashort Financials (NYSE: SKF) stock price gained 17.18 points on the trading session, high on the trading session $130.43, low on the trading session $113.00 with a closing stock price at $128.88 ProShares Ultrashort QQQ (NYSE: QID) stock price gained 3.67 points on the trading session, high on the trading session $71.59, low on the trading session $65.80 with a closing stock price at $70.93; Devon Energy Corporation (NYSE: DVN) stock price shed 1.59 points on the trading session, high on the trading session $75.30, low on the trading session $69.51 with a closing stock price at $70.97; ProShares Ultrashort Real Estate (NYSE: SRS) stock price gained 19.58 points on the trading session, high on the trading session $99.31, low on the trading session $78.55 with a closing stock price at $96.30.
National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 763 declined stock prices 2,064; unchanged stock prices 137; stock prices hitting new highs 3 and stock prices hitting new lows 83. 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: Baidu.com Incorporated (NasdaqGS: BIDU) stock price gained 6.76 points on the trading session, high on the trading session $121.00, low on the trading session $107.80 with a closing stock price at $111.30; Urban Outfitters Incorporated (NasdaqGS: URBN) stock price shed 3.72 points on the trading session, high on the trading session $15.88, low on the trading session $14.68 with a closing stock price at $15.14; Costco Wholesale Corporation (NasdaqGS: COST) stock price shed 1.77 points on the trading session, high on the trading session $53.47, low on the trading session $50.70 with a closing stock price at $51.92; First Solar Incorporated (NasdaqGS: FSLR) stock price shed 2.11 points on the trading session, high on the trading session $126.45, low on the trading session $115.37 with a closing stock price at $117.57.
Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 252; declined stock prices 343; unchanged stock prices 75; stock prices hitting new highs 3 and stock prices hitting new lows 28.
Chicago Board of Trade Futures Market activity for the day, at time of this posting for December 2008 Contracts:
E-mini S&P 500 (ES): End of trading session price 873.50; Change for the trading session -22.25
E-mini NASDAQ-100 (NQ): End of trading session price 1,183.00; Change for the trading session -34.00
E-mini DOW $5 (YM): End of trading session price 8,589; Change for the trading session -129
E-mini S&P MidCap 400 (MF): End of trading session price 492.00; Change for the trading session -24.70
E-mini S&P Small Cap 600 (HS): End of trading session price 240.60; Change for the trading session -14.70
World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7496 to U.S. Dollars 1.3340
Japanese Yen 91.7400 to U.S. Dollars 0.0109
British Pound 0.6660 to U.S. Dollars 1.5014
Canadian Dollar 1.2352 to U.S. Dollars 0.8096
Swiss Franc 1.1847 to U.S. Dollars 0.8441
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (January 09) gained $4.46 on the trading session for a closing price of $47.98 per barrel ($US per barrel)
Heating Oil (January 09) gained $0.10 on the trading session for a closing price of $1.51 a gallon ($US per gallon)
Natural Gas (January 09) shed $0.09 on the trading session for a closing price of $5.60 per million BTU ($US per mmbtu.)
Unleaded Gas (December 08) gained $0.11 on the trading session for a closing price of $1.08 a gallon ($US per gallon)
Metals Markets - Comex:
Gold (February 09) gained $17.80 on the trading session for a closing price of $826.60 ($US per Troy ounce)
Silver (March 09) gained $0.23 on the trading session for a closing price of $10.43 ($US per Troy ounce)
Platinum (January 09) gained $5.50 on the trading session for a closing price of $845.50 ($US per Troy ounce)
Copper (March 09) gained $0.02 on the trading session for a closing price of $1.51 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (October 09) shed 0.75 on the trading session for a closing price of 62.38
Pork Bellies (February 09) shed 2.08 on the trading session for a closing price of 82.43
Live Cattle (February 09) gained 0.03 on the trading session for a closing price of 83.83
Feeder Cattle (January 09) gained 0.45 on the trading session for a closing price of 87.33
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (March 09) gained 9.50 on the trading session for a closing price of 352.00
Soybeans (January 09) gained 27.00 on the trading session for a closing price of 856.50
BOND MARKET: n/a
Thanks for reading
Millennium-Traders.Com
