Daily Market Commentary for May 7, 2008 from Millennium-Traders.Com
Todays top stock pick for the trading session is National Financial Partners Corporation (NYSE: NFP) which posted a loss on the trading day of over 18% to lose over 5 points by the closing bell. Net income was higher than last year same time period but, earnings per share did not meet analysis expectations, creating the down hill slide. (read more)
At the closing bell on the Stock Exchange, here is how the major world indices and major U.S. indices ended the session on the U.S. Markets:
DOW (Dow Jones Industrial Average) triple digit loss of 206.48 points on the day to end the session at 12,814.35
NYSE (New York Stock Exchange) triple digit loss of 171.51 points to end the session at 9,339.47
NASDAQ loss of 44.82 points for a close at 2,438.49
S&P 500 loss of 25.69 points for a close at 1,392.57
FTSE All-World ex-U.S. loss of 2.32 points to close at 252.94
FTSE RAFI 1000 triple digit loss of 112.86 points to close at 5,620.34
BEL 20 gain of 16.46 points to close at 3,906.61
CAC 40 gain of 34.39 points to close at 5,075.31
FTSE100 gain of 45.8 points to close at 6,261.0
NIKKEI 225 gain of 53.2 points to close at 14,102.50
News on the New York Stock Exchange (NYSE) today: advanced stocks 904; declined stocks 2,252; unchanged stocks 105; stocks hitting new highs 84; stocks hitting new lows 39.
Daily Trading Range and end of day trading results for volatile NYSE stocks traded by active Day Traders today:
Syniverse Holdings Incorporated (NYSE: SVR) gained 4.43 points on the trading day, high on the trading day $21.34, low on the trading day $18.93, for a closing price at $21.09;
Visa Incorporated (NYSE: V) gained 0.97 points on the trading day, high on the trading day $89.84, low on the trading day $87.66, for a closing price at $88.50;
Allergan Incorporated (NYSE: AGN) shed 1.77 points on the trading day, high on the trading day $56.90, low on the trading day $51.00, for a closing price at $52.55;
American International Group, Incorporated (NYSE: AIG) shed 3.32 points on the trading day, high on the trading day $48.45, low on the trading day $44.97, for a closing price at $45.08;
National Financial Partners Corporation (NYSE: NFP) shed 5.15 points on the trading day, high on the trading day $27.95, low on the trading day $21.81, for a closing price at $22.92;
Mosaic Corporation (NYSE: MOS) shed 2.83 points on the trading day, high on the trading day $129.88, low on the trading day $123.82, for a closing price at $124.65;
Potash Corp. of Saskatchewan, Incorporated (NYSE: POT) gained 0.07 points on the trading day, high on the trading day $204.02, low on the trading day $196.10, for a closing price at $198.77;
CME Group, Incorporated (NYSE: CME) shed 16.27 points on the trading day, high on the trading day $488.29, low on the trading day $468.72, for a closing price at $468.72;
Monsanto Corporation (NYSE: MON) shed 2.26 points on the trading day, high on the trading day $121.12, low on the trading day $116.52, for a closing price at $117.44;
Transocean, Incorporated (NYSE: RIG) shed 0.45 points on the trading day, high on the trading day $162.35, low on the trading day $156.24, for a closing price at $157.40;
Rio Tinto plc (NYSE: RTP) shed 21.77 points on the trading day, high on the trading day $501.76, low on the trading day $487.66, for a closing price at $490.67l;
Petroleo Brasileiro (NYSE: PBR) shed 3.54 points on the trading day, high on the trading day $131.49, low on the trading day $125.74, for a closing price at $126.75;
Mastercard Incorporated (NYSE: MA) shed 5.01 points on the trading day, high on the trading day $300.94, low on the trading day $291.01, for a closing price at $291.01.
News on the NASDAQ today: advanced stocks 838; declined stocks 2,077; unchanged stocks 114; stocks hitting new highs 38; stocks hitting new lows 103.
Trading range and end of day trading results for volatile NASDAQ stocks traded by active Day Traders today:
Synchronoss Technologies, Incorporated (NasdaqGS: SNCR) shed 9.86 points on the trading day, high on the trading day $13.88, low on the trading day $12.60, for a closing price at $13.04;
Millicom International Cellular SA (NasdaqGS: MICC) shed 5.07 points on the trading day, high on the trading day $118.86, low on the trading day $114.44, for a closing price at $115.23;
Exlservice Holdings, Incorporated (NasdaqGS: EXLS) shed 4.03 points on the trading day, high on the trading day $23.63, low on the trading day $20.52, for a closing price at $20.76;
Foster Wheeler, Limited (NasdaqGS: FWLT) shed 1.22 points on the trading day, high on the trading day $70.46, low on the trading day $63.99, for a closing price at $65.16;
Cognizant Technology Solutions Corporation (NasdaqGS: CTSH) shed 3.54 points on the trading day, high on the trading day $31.57, low on the trading day $30.01, for a closing price at $30.21;
Genomic Health Inc (NasdaqGS: GHDX) shed 1.66 points on the trading day, high on the trading day $21.28, low on the trading day $18.57, for a closing price at $19.29;
F5 Networks Incorporated (NasdaqGS: FFIV) gained 1.19 points on the trading day, high on the trading day $26.80, low on the trading day $24.60, for a closing price at $25.95;
Kendle International Incorporated (NasdaqGS: KNDL) shed 2.13 points on the trading day, high on the trading day $41.00, low on the trading day $37.25, for a closing price at $40.58;
Celgene Corporation (NasdaqGS: CELG) shed 2.54 points on the trading day, high on the trading day $65.41, low on the trading day $62.50, for a closing price at $63.10;
Google Incorporated (NasdaqGS: GOOG) shed 7.36 points on the trading day, high on the trading day $599.49, low on the trading day $576.43, for a closing price at $579.00;
Perrigo Corporation (NasdaqGS: PRGO) shed 2.12 points on the trading day, high on the trading day $35.00, low on the trading day $32.80, for a closing price at $33.37;
First Solar, Incorporated (NasdaqGS: FSLR) shed 1.72 points on the trading day, high on the trading day $287.20, low on the trading day $275.23, for a closing price at $276.85;
Baidu.com, Incorporated (NasdaqGS: BIDU) shed 11.29 points on the trading day, high on the trading day $382.90, low on the trading day $358.45, for a closing price at $358.13,
News on the American Stock Exchange (AMEX) today: advanced stocks 447; declined stocks 708; unchanged stocks 90; stocks hitting new highs 30; stocks hitting new lows 20.
Department Of Energy released Crude Oil and Gasoline data today: U.S. Crude Oil Stockpiles increased by 5.7 Million Barrels at 325.6 Million Barrels; U.S. Gasoline Stockpiles increased by 0.8 Million Barrels at 211.9 Million Barrels; U.S. Distillate Stockpiles -0.1 Million Barrels at 105.7 Million Barrels; U.S. Refineries Ran at 85.0% versus 85.4% a week ago; U.S. Crude Oil Stockpiles increased by 5.7 Million Barrels in the week compared to expectations of an increase by 1.4 Million Barrels; U.S. Gasoline Stockpiles increased by 800,000 Barrels in the week compared to expectations of a decrease by 400,000 Million Barrels; U.S. Distillate Stockpiles fell 100,000 Barrels in the week compared to expectations of an increase by 800,000; U.S. Refineries ran at 85.0% capacity compared to expectations of an increase by 0.4 points at 85.8%.
National Association of Realtors: U.S. Pending Home Sales Index fell 1.0% in March and U.S. March Pending Home Sales fell 20.1% from March 2007.
Comments from Federal Reserve Board Member Randall S. Kroszner: Fed sees Foreclosure Spike as 'Urgent Problem'; Foreclosures likely to have Risen Further in 1Q; Mortgage Market Continues to Face Challenges; Job Losses, Falling Prices Leading to Foreclosures; Housing Market's Impact on Communities a Concern; Foreclosures can Impact Job, Business Creation; Foreclosures can make it Harder to Attract Buyers.
U.S. 1Q Non-Farm Productivity increased by 2.2% compared to consensus of an increase by 1.7%; U.S. 1Q Unit Labor Costs increased by 2.2% compared to consensus of an increase by 2.8%; U.S. Productivity increased by 3.2% on the year resulting in highest since 2Q 2004.
Commodities Markets
Energy Sector: Light Crude (NYM) gained $1.69 on the day to close at $123.53 a barrel ($US per bbl.); Heating Oil (NYM) gained $0.09 on the day to close at $3.45 a gallon ($US per gal.); Natural Gas (NYM) gained $0.18 on the day to close at $11.33 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) gained $0.01 on the day to close at $3.12 a gallon ($US per gal.).
Metals Markets: Gold (CMX) shed $6.70 to close at $871.00 ($US per Troy oz.); Silver (CMX) shed $0.15 to close at $16.71 ($US per Troy oz.); Platinum (NYM) shed $0.80 to close at $1,969.00 ($US per Troy oz.) and Copper (CMX) shed $0.04 to close at $3.83 ($US per lb.).
Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) gained 0.53 to close at 75.28; Pork Bellies (CME) gained 0.28 to close at 76.78; Live Cattle (CME) closed at 91.83; Feeder Cattle (CME) gained 0.08 to close at 108.28.
Other Commodities (cents per bu.): Corn (CBT) gained 6.75 to close the session at 613.00 and Soybeans (CBT) gained 32.00 to close the session at 1,309.00.
Bonds were higher across the board today: 2 year bond gained 4/32 to close at 99 20/32 with a Yield of 2.30, Yield Change -0.08; 5 year bond gained 13/32 to close at 100 6/32 with a Yield of 3.84, Yield Change -0.08; 10 year bond gained 18/32 to close at 97 5/32 with a Yield of 3.84, Yield Change -0.08; the 30 year bond gained 30/32 to close at 96 10/32 on the day with a Yield of 4.60, Yield Change -0.06.
The e-mini Dow $5 ended the commodity session today at 12,815 with a loss of 213 points on the trading session. Futures Traders should review workshops available at the CBOT (Chicago Board of Trade). Educational in-person seminars schedules available on the CBOT (Chicago Board of Trade) website.
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
Todays top stock pick for the trading session is National Financial Partners Corporation (NYSE: NFP) which posted a loss on the trading day of over 18% to lose over 5 points by the closing bell. Net income was higher than last year same time period but, earnings per share did not meet analysis expectations, creating the down hill slide. (read more)
At the closing bell on the Stock Exchange, here is how the major world indices and major U.S. indices ended the session on the U.S. Markets:
DOW (Dow Jones Industrial Average) triple digit loss of 206.48 points on the day to end the session at 12,814.35
NYSE (New York Stock Exchange) triple digit loss of 171.51 points to end the session at 9,339.47
NASDAQ loss of 44.82 points for a close at 2,438.49
S&P 500 loss of 25.69 points for a close at 1,392.57
FTSE All-World ex-U.S. loss of 2.32 points to close at 252.94
FTSE RAFI 1000 triple digit loss of 112.86 points to close at 5,620.34
BEL 20 gain of 16.46 points to close at 3,906.61
CAC 40 gain of 34.39 points to close at 5,075.31
FTSE100 gain of 45.8 points to close at 6,261.0
NIKKEI 225 gain of 53.2 points to close at 14,102.50
News on the New York Stock Exchange (NYSE) today: advanced stocks 904; declined stocks 2,252; unchanged stocks 105; stocks hitting new highs 84; stocks hitting new lows 39.
Daily Trading Range and end of day trading results for volatile NYSE stocks traded by active Day Traders today:
Syniverse Holdings Incorporated (NYSE: SVR) gained 4.43 points on the trading day, high on the trading day $21.34, low on the trading day $18.93, for a closing price at $21.09;
Visa Incorporated (NYSE: V) gained 0.97 points on the trading day, high on the trading day $89.84, low on the trading day $87.66, for a closing price at $88.50;
Allergan Incorporated (NYSE: AGN) shed 1.77 points on the trading day, high on the trading day $56.90, low on the trading day $51.00, for a closing price at $52.55;
American International Group, Incorporated (NYSE: AIG) shed 3.32 points on the trading day, high on the trading day $48.45, low on the trading day $44.97, for a closing price at $45.08;
National Financial Partners Corporation (NYSE: NFP) shed 5.15 points on the trading day, high on the trading day $27.95, low on the trading day $21.81, for a closing price at $22.92;
Mosaic Corporation (NYSE: MOS) shed 2.83 points on the trading day, high on the trading day $129.88, low on the trading day $123.82, for a closing price at $124.65;
Potash Corp. of Saskatchewan, Incorporated (NYSE: POT) gained 0.07 points on the trading day, high on the trading day $204.02, low on the trading day $196.10, for a closing price at $198.77;
CME Group, Incorporated (NYSE: CME) shed 16.27 points on the trading day, high on the trading day $488.29, low on the trading day $468.72, for a closing price at $468.72;
Monsanto Corporation (NYSE: MON) shed 2.26 points on the trading day, high on the trading day $121.12, low on the trading day $116.52, for a closing price at $117.44;
Transocean, Incorporated (NYSE: RIG) shed 0.45 points on the trading day, high on the trading day $162.35, low on the trading day $156.24, for a closing price at $157.40;
Rio Tinto plc (NYSE: RTP) shed 21.77 points on the trading day, high on the trading day $501.76, low on the trading day $487.66, for a closing price at $490.67l;
Petroleo Brasileiro (NYSE: PBR) shed 3.54 points on the trading day, high on the trading day $131.49, low on the trading day $125.74, for a closing price at $126.75;
Mastercard Incorporated (NYSE: MA) shed 5.01 points on the trading day, high on the trading day $300.94, low on the trading day $291.01, for a closing price at $291.01.
News on the NASDAQ today: advanced stocks 838; declined stocks 2,077; unchanged stocks 114; stocks hitting new highs 38; stocks hitting new lows 103.
Trading range and end of day trading results for volatile NASDAQ stocks traded by active Day Traders today:
Synchronoss Technologies, Incorporated (NasdaqGS: SNCR) shed 9.86 points on the trading day, high on the trading day $13.88, low on the trading day $12.60, for a closing price at $13.04;
Millicom International Cellular SA (NasdaqGS: MICC) shed 5.07 points on the trading day, high on the trading day $118.86, low on the trading day $114.44, for a closing price at $115.23;
Exlservice Holdings, Incorporated (NasdaqGS: EXLS) shed 4.03 points on the trading day, high on the trading day $23.63, low on the trading day $20.52, for a closing price at $20.76;
Foster Wheeler, Limited (NasdaqGS: FWLT) shed 1.22 points on the trading day, high on the trading day $70.46, low on the trading day $63.99, for a closing price at $65.16;
Cognizant Technology Solutions Corporation (NasdaqGS: CTSH) shed 3.54 points on the trading day, high on the trading day $31.57, low on the trading day $30.01, for a closing price at $30.21;
Genomic Health Inc (NasdaqGS: GHDX) shed 1.66 points on the trading day, high on the trading day $21.28, low on the trading day $18.57, for a closing price at $19.29;
F5 Networks Incorporated (NasdaqGS: FFIV) gained 1.19 points on the trading day, high on the trading day $26.80, low on the trading day $24.60, for a closing price at $25.95;
Kendle International Incorporated (NasdaqGS: KNDL) shed 2.13 points on the trading day, high on the trading day $41.00, low on the trading day $37.25, for a closing price at $40.58;
Celgene Corporation (NasdaqGS: CELG) shed 2.54 points on the trading day, high on the trading day $65.41, low on the trading day $62.50, for a closing price at $63.10;
Google Incorporated (NasdaqGS: GOOG) shed 7.36 points on the trading day, high on the trading day $599.49, low on the trading day $576.43, for a closing price at $579.00;
Perrigo Corporation (NasdaqGS: PRGO) shed 2.12 points on the trading day, high on the trading day $35.00, low on the trading day $32.80, for a closing price at $33.37;
First Solar, Incorporated (NasdaqGS: FSLR) shed 1.72 points on the trading day, high on the trading day $287.20, low on the trading day $275.23, for a closing price at $276.85;
Baidu.com, Incorporated (NasdaqGS: BIDU) shed 11.29 points on the trading day, high on the trading day $382.90, low on the trading day $358.45, for a closing price at $358.13,
News on the American Stock Exchange (AMEX) today: advanced stocks 447; declined stocks 708; unchanged stocks 90; stocks hitting new highs 30; stocks hitting new lows 20.
Department Of Energy released Crude Oil and Gasoline data today: U.S. Crude Oil Stockpiles increased by 5.7 Million Barrels at 325.6 Million Barrels; U.S. Gasoline Stockpiles increased by 0.8 Million Barrels at 211.9 Million Barrels; U.S. Distillate Stockpiles -0.1 Million Barrels at 105.7 Million Barrels; U.S. Refineries Ran at 85.0% versus 85.4% a week ago; U.S. Crude Oil Stockpiles increased by 5.7 Million Barrels in the week compared to expectations of an increase by 1.4 Million Barrels; U.S. Gasoline Stockpiles increased by 800,000 Barrels in the week compared to expectations of a decrease by 400,000 Million Barrels; U.S. Distillate Stockpiles fell 100,000 Barrels in the week compared to expectations of an increase by 800,000; U.S. Refineries ran at 85.0% capacity compared to expectations of an increase by 0.4 points at 85.8%.
National Association of Realtors: U.S. Pending Home Sales Index fell 1.0% in March and U.S. March Pending Home Sales fell 20.1% from March 2007.
Comments from Federal Reserve Board Member Randall S. Kroszner: Fed sees Foreclosure Spike as 'Urgent Problem'; Foreclosures likely to have Risen Further in 1Q; Mortgage Market Continues to Face Challenges; Job Losses, Falling Prices Leading to Foreclosures; Housing Market's Impact on Communities a Concern; Foreclosures can Impact Job, Business Creation; Foreclosures can make it Harder to Attract Buyers.
U.S. 1Q Non-Farm Productivity increased by 2.2% compared to consensus of an increase by 1.7%; U.S. 1Q Unit Labor Costs increased by 2.2% compared to consensus of an increase by 2.8%; U.S. Productivity increased by 3.2% on the year resulting in highest since 2Q 2004.
Commodities Markets
Energy Sector: Light Crude (NYM) gained $1.69 on the day to close at $123.53 a barrel ($US per bbl.); Heating Oil (NYM) gained $0.09 on the day to close at $3.45 a gallon ($US per gal.); Natural Gas (NYM) gained $0.18 on the day to close at $11.33 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) gained $0.01 on the day to close at $3.12 a gallon ($US per gal.).
Metals Markets: Gold (CMX) shed $6.70 to close at $871.00 ($US per Troy oz.); Silver (CMX) shed $0.15 to close at $16.71 ($US per Troy oz.); Platinum (NYM) shed $0.80 to close at $1,969.00 ($US per Troy oz.) and Copper (CMX) shed $0.04 to close at $3.83 ($US per lb.).
Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) gained 0.53 to close at 75.28; Pork Bellies (CME) gained 0.28 to close at 76.78; Live Cattle (CME) closed at 91.83; Feeder Cattle (CME) gained 0.08 to close at 108.28.
Other Commodities (cents per bu.): Corn (CBT) gained 6.75 to close the session at 613.00 and Soybeans (CBT) gained 32.00 to close the session at 1,309.00.
Bonds were higher across the board today: 2 year bond gained 4/32 to close at 99 20/32 with a Yield of 2.30, Yield Change -0.08; 5 year bond gained 13/32 to close at 100 6/32 with a Yield of 3.84, Yield Change -0.08; 10 year bond gained 18/32 to close at 97 5/32 with a Yield of 3.84, Yield Change -0.08; the 30 year bond gained 30/32 to close at 96 10/32 on the day with a Yield of 4.60, Yield Change -0.06.
The e-mini Dow $5 ended the commodity session today at 12,815 with a loss of 213 points on the trading session. Futures Traders should review workshops available at the CBOT (Chicago Board of Trade). Educational in-person seminars schedules available on the CBOT (Chicago Board of Trade) website.
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
