Daily Market Commentary for February 15, 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) loss of 28.77 points on the day to end the session at 12,348.21
NYSE (New York Stock Exchange) gain of 2.29 points to end the session at 8,970.70
NASDAQ loss of 10.74 points for a close at 2,321.80
S&P 500 gain of 1.12 points for a close at 1,349.98
RUSSELL 2000 loss of 3.77 points to close at 701.55
FTSE All-World ex-U.S. loss of 0.73 points to close at 238.90
FTSE RAFI 1000 gain of 12.73 points to close at 5,554.23
BEL 20 loss of 99.1 points to close at 3,662.78
CAC 40 loss of 86.86 points to close at 4,771.79
FTSE100 loss of 91.7 points to close at 5,787.60
NIKKEI 225 loss of 3.9 points to close at 13,622.60
On the NYSE today, advancers came in at 1,321 decliners totaled 1,803; unchanged came in at 101; new highs came in at 13 and new lows came in at 85. Momentum stocks traded by active Day Traders on the NYSE today: CME Group, Incorporated (CME) shed 3.98 points with a high on the day of $530.66, a low of $519.44 for a closing price at $526.97; Transocean, Incorporated (RIG) shed 0.60 points with a high on the day of $130.31, a low of $126.76 for a closing price at $129.07; CONSOL Energy Incorporated (CNX) shed 4.80 points with a high on the day of $78.16, a low of $72.96 for a closing price at $75.08; Chipotle Mexican Grill, Incorporated (CMG) shed 3.40 points with a high on the day of $106.00, a low of $95.55 for a closing price at $105.25; Petroleo Brasileiro (PBR) shed 0.78 points with a high on the day of $115.36, a low of $112.37 for a closing price at $115.36; Yingli Green Energy Holding Incorporated Limited (YGE) shed 3.23 points with a high on the day of $24.00, a low of $21.34 for a closing price at $21.65; Goldman Sachs Group Incorporated (GS) gained 1.85 points with a high on the day of $178.79, a low of $173.37 for a closing price at $178.41; Barnes Group Incorporated (B) shed 3.90 points with a high on the day of $25.75, a low of $22.27 for a closing price at $22.44; Cleveland-Cliffs Incorporated (CLF) gained 1.60 points with a high on the day of $118.21, a low of $112.86 for a closing price at $117.56; Arch Coal Incorporated (ACI) shed 2.16 points with a high on the day of $50.26, a low of $47.12 for a closing price at $49.41; Valmont Industries, Incorporated (VMI) shed 4.26 points with a high on the day of $85.12, a low of $79.04 for a closing price at $81.31; MEMC Electronic Materials Incorporated (WFR) shed 2.84 points with a high on the day of $78.91, a low of $74.02 for a closing price at $75.95; MGM Mirage (MGM) shed 4.23 points with a high on the day of $67.50, a low of $65.50 for a closing price at $66.14; Mosaic Corporation (MOS) shed 0.06 points with a high on the day of $103.99, a low of $100.11 for a closing price at $103.37.
On the NASDAQ today, advanced totaled 1,054; decliners totaled 1,899; unchanged came in at 128; new highs came in at 12 and new lows came in at 145. Momentum stocks traded by active Day Traders on the NASDAQ today: First Solar, Incorporated (FSLR) shed 4.72 points with a high on the day of $227.58, a low of $213.00 for a closing price at $219.39; RC2 Corporation (RCRC) shed 0.92 points with a high on the day of $20.05, a low of $17.85 for a closing price at $19.48; Priceline.com Incorporated (PCLN) gained 21.63 points with a high on the day of $124.56, a low of $110.53 for a closing price at $123.86; Cognex Corporation (CGNX) gained 4.04 points with a high on the day of $20.06, a low of $17.18 for a closing price at $19.43; Gen-Probe Incorporated (GPRO) gained 0.21 points with a high on the day of $54.96, a low of $49.55 for a closing price at $54.25; SonoSite Incorporated (SONO) shed 2.55 points with a high on the day of $32.90, a low of $30.10 for a closing price at $32.35; Baidu.com Incorporated (BIDU) shed 5.40 points with a high on the day of $265.00, a low of $255.24 for a closing price at $259.10; DryShips, Incorporated (DRYS) shed 3.52 points with a high on the day of $88.49, a low of $80.10 for a closing price at $80.73.
Federal Reserve Board Member, Frederic S. Mishkin: Should take back Easing once Recovery Established; any big Rise in Price Expectations Would be a Worry; Energy Prices, Falling Dollar Pose Inflation Risk; Fed Policy Exhibiting Less Gradualism; Fed Easing Unlikely To Have Adverse Inflation Effect; Market Strains Likely to Persist 'For Some Time'; Financial Markets Pose 'Substantial' Growth Risk; Will Keep Acting 'Decisively' on Rates; Central Bank Jobs to keep Economy on even Keel; Ratings Agencies Less Essential going forward.
University of Michigan Mid-February Consumer Sentiment Index Reading came in at 85.4 compared to January reading of 94.4; University of Michigan Mid-February Consumer Sentiment Expectations came in at 59.4 compared to January reading of 68.1; University of Michigan Consumer Sentiment 5-Year Inflation Forecast rose 3.0% compared to January reading of an increase by 3.0%; University of Michigan Consumer Sentiment 12-Month Inflation Forecast rose 3.7% compared to January reading of an increase by 3.4%.
New York Federal Reserve February Manufacturing Index fell 11.72 versus 9.03 in January;
New York Federal Reserve February New Orders fell 11.88 versus 0.04 in January;
New York Federal Reserve February Employment fell 2.11 versus 2.44 in January;
New York Federal Reserve February Prices Received came in at 17.89 versus 18.29 in January.
In a sign of spreading economic weakness, manufacturing activity in the New York Federal Reserve's district deteriorated sharply to its weakest level in nearly two years, in February. The New York Federal Reserve reported Friday that its general business conditions index moved lower by 11.72, falling below zero for the first time since May 2005, from a reading of 9.03 in January. New orders moved lower by 11.88 in February from 0.04 in January and shipments fell lower by 4.86 from 15.84. In a series of supplementary questions included in this month's survey, the respondents said the depreciation of the dollar has adversely affected their business: although a weaker currency helps exports, the effect on domestic sales was "on balance somewhat negative." The currency weakness also drove up the cost of materials and other inputs, the survey said. Meanwhile, nearly half the respondents said customers have become slower in paying their bills and 22% said they were slower in paying suppliers. About one third of respondents said their own firms' borrowing needs have increased, compared with three months ago, while 18% noted a decrease in credit availability. The New York Fed said the outlook remains subdued and that "after tumbling last month, future indexes remained generally positive but still well below levels of late last year." The future general business conditions index rose a few points to 22.72 from 19.44 in January.
U.S. January Import Prices rose 1.7% compared to consensus of an increase by 0.5%; U.S. January Non-Petroleum Import Prices rose 0.6%; U.S. January Petroleum Import Prices rose 5.5%; U.S. Import Prices rose 13.7% on the year posting a record gain; U.S. Import Prices from China Increased at a record 0.8% on the month compared to 3.3% on the year; U.S. January Export Prices rose 1.2% on the month to post highest reading since 1989.
U.S. December Capacity Use revised to 81.5% from 81.4%; U.S. December Industrial Production revised to an increase by 0.1% from unchanged; U.S. January Capacity Utilization remains unchanged at 81.5% compared to consensus of 81.4%; U.S. January Industrial Production rose 0.1% compared to consensus of an increase by 0.1%.
Commodities Markets
The trend was mixed across the board today for the Energy Sector: Light crude moved higher today by $0.14 to close at $95.60 a barrel; Heating Oil closed with no change at $2.64 a gallon; Natural Gas moved lower today by $0.11 to close at $8.68 per million BTU and Unleaded Gas moved higher today by $0.02 to close at $2.50 a gallon.
Metals Markets ended the session mixed across the board today: Gold moved lower today by $4.70 to close at $906.10 a Troy ounce; Silver moved lower today by $0.14 to close at $17.12 per Troy ounce; Platinum moved strongly higher today by $57.80 to close at $2,063.70 per Troy ounce and Copper closed higher by $0.04 to close at $3.54 per pound.
On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs ended the day lower by $0.10 to close at $64.20; Pork Bellies ended the day higher by $1.18 to close at $93.18; Live Cattle ended the day lower by $0.10 to close at $93.98 and Feeder Cattle ended the day higher by $0.20 at $104.63.
Other Commodities: Corn ended the day higher by $4.25 at $527.50 and Soybeans moved higher today by $5.75 to end the session at $1,391.00.
Bonds were mixed across the board today: 2 year bond moved lower by 2/32 to close at 100 12/32; 5 year bond moved higher by 1/32 to close at 100 16/32 today; 10 year bond moved higher by 5/32 to close at 97 21/32 and the 30 year bond moved higher by 22/32 to close at 96 19/32 on the day.
The e-mini Dow ended the session today at 12,327 with a loss of 69 points on the trading session. The total Dow Exchange Volume for the day came in at 174,936 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 5,279,623; Open Interest for Futures moved higher by 107,880 points to close at 10,846,210; the Open Interest for Options moved higher by 183,113 points to close at 10,483,358 and the Cleared Only closed higher by 995 points to close at 26,304 for a total Open Interest on the day of 21,061,681 for a total Change on the day with a gain of 291,988 points.
At the close of the week, performance results for our Moderators:
Stocks Trading Room:
Jeannie - $7,374
Barry - $14,348
Marty - $6,013
Sam - $3,346
Futures Trading Room:
JT - $9,440
Forex Trading Room:
JT - $6,600
Daily Swing Trades:
Barry - $50,530
Weekly Swing Trades:
Jeannie - $4,780
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) loss of 28.77 points on the day to end the session at 12,348.21
NYSE (New York Stock Exchange) gain of 2.29 points to end the session at 8,970.70
NASDAQ loss of 10.74 points for a close at 2,321.80
S&P 500 gain of 1.12 points for a close at 1,349.98
RUSSELL 2000 loss of 3.77 points to close at 701.55
FTSE All-World ex-U.S. loss of 0.73 points to close at 238.90
FTSE RAFI 1000 gain of 12.73 points to close at 5,554.23
BEL 20 loss of 99.1 points to close at 3,662.78
CAC 40 loss of 86.86 points to close at 4,771.79
FTSE100 loss of 91.7 points to close at 5,787.60
NIKKEI 225 loss of 3.9 points to close at 13,622.60
On the NYSE today, advancers came in at 1,321 decliners totaled 1,803; unchanged came in at 101; new highs came in at 13 and new lows came in at 85. Momentum stocks traded by active Day Traders on the NYSE today: CME Group, Incorporated (CME) shed 3.98 points with a high on the day of $530.66, a low of $519.44 for a closing price at $526.97; Transocean, Incorporated (RIG) shed 0.60 points with a high on the day of $130.31, a low of $126.76 for a closing price at $129.07; CONSOL Energy Incorporated (CNX) shed 4.80 points with a high on the day of $78.16, a low of $72.96 for a closing price at $75.08; Chipotle Mexican Grill, Incorporated (CMG) shed 3.40 points with a high on the day of $106.00, a low of $95.55 for a closing price at $105.25; Petroleo Brasileiro (PBR) shed 0.78 points with a high on the day of $115.36, a low of $112.37 for a closing price at $115.36; Yingli Green Energy Holding Incorporated Limited (YGE) shed 3.23 points with a high on the day of $24.00, a low of $21.34 for a closing price at $21.65; Goldman Sachs Group Incorporated (GS) gained 1.85 points with a high on the day of $178.79, a low of $173.37 for a closing price at $178.41; Barnes Group Incorporated (B) shed 3.90 points with a high on the day of $25.75, a low of $22.27 for a closing price at $22.44; Cleveland-Cliffs Incorporated (CLF) gained 1.60 points with a high on the day of $118.21, a low of $112.86 for a closing price at $117.56; Arch Coal Incorporated (ACI) shed 2.16 points with a high on the day of $50.26, a low of $47.12 for a closing price at $49.41; Valmont Industries, Incorporated (VMI) shed 4.26 points with a high on the day of $85.12, a low of $79.04 for a closing price at $81.31; MEMC Electronic Materials Incorporated (WFR) shed 2.84 points with a high on the day of $78.91, a low of $74.02 for a closing price at $75.95; MGM Mirage (MGM) shed 4.23 points with a high on the day of $67.50, a low of $65.50 for a closing price at $66.14; Mosaic Corporation (MOS) shed 0.06 points with a high on the day of $103.99, a low of $100.11 for a closing price at $103.37.
On the NASDAQ today, advanced totaled 1,054; decliners totaled 1,899; unchanged came in at 128; new highs came in at 12 and new lows came in at 145. Momentum stocks traded by active Day Traders on the NASDAQ today: First Solar, Incorporated (FSLR) shed 4.72 points with a high on the day of $227.58, a low of $213.00 for a closing price at $219.39; RC2 Corporation (RCRC) shed 0.92 points with a high on the day of $20.05, a low of $17.85 for a closing price at $19.48; Priceline.com Incorporated (PCLN) gained 21.63 points with a high on the day of $124.56, a low of $110.53 for a closing price at $123.86; Cognex Corporation (CGNX) gained 4.04 points with a high on the day of $20.06, a low of $17.18 for a closing price at $19.43; Gen-Probe Incorporated (GPRO) gained 0.21 points with a high on the day of $54.96, a low of $49.55 for a closing price at $54.25; SonoSite Incorporated (SONO) shed 2.55 points with a high on the day of $32.90, a low of $30.10 for a closing price at $32.35; Baidu.com Incorporated (BIDU) shed 5.40 points with a high on the day of $265.00, a low of $255.24 for a closing price at $259.10; DryShips, Incorporated (DRYS) shed 3.52 points with a high on the day of $88.49, a low of $80.10 for a closing price at $80.73.
Federal Reserve Board Member, Frederic S. Mishkin: Should take back Easing once Recovery Established; any big Rise in Price Expectations Would be a Worry; Energy Prices, Falling Dollar Pose Inflation Risk; Fed Policy Exhibiting Less Gradualism; Fed Easing Unlikely To Have Adverse Inflation Effect; Market Strains Likely to Persist 'For Some Time'; Financial Markets Pose 'Substantial' Growth Risk; Will Keep Acting 'Decisively' on Rates; Central Bank Jobs to keep Economy on even Keel; Ratings Agencies Less Essential going forward.
University of Michigan Mid-February Consumer Sentiment Index Reading came in at 85.4 compared to January reading of 94.4; University of Michigan Mid-February Consumer Sentiment Expectations came in at 59.4 compared to January reading of 68.1; University of Michigan Consumer Sentiment 5-Year Inflation Forecast rose 3.0% compared to January reading of an increase by 3.0%; University of Michigan Consumer Sentiment 12-Month Inflation Forecast rose 3.7% compared to January reading of an increase by 3.4%.
New York Federal Reserve February Manufacturing Index fell 11.72 versus 9.03 in January;
New York Federal Reserve February New Orders fell 11.88 versus 0.04 in January;
New York Federal Reserve February Employment fell 2.11 versus 2.44 in January;
New York Federal Reserve February Prices Received came in at 17.89 versus 18.29 in January.
In a sign of spreading economic weakness, manufacturing activity in the New York Federal Reserve's district deteriorated sharply to its weakest level in nearly two years, in February. The New York Federal Reserve reported Friday that its general business conditions index moved lower by 11.72, falling below zero for the first time since May 2005, from a reading of 9.03 in January. New orders moved lower by 11.88 in February from 0.04 in January and shipments fell lower by 4.86 from 15.84. In a series of supplementary questions included in this month's survey, the respondents said the depreciation of the dollar has adversely affected their business: although a weaker currency helps exports, the effect on domestic sales was "on balance somewhat negative." The currency weakness also drove up the cost of materials and other inputs, the survey said. Meanwhile, nearly half the respondents said customers have become slower in paying their bills and 22% said they were slower in paying suppliers. About one third of respondents said their own firms' borrowing needs have increased, compared with three months ago, while 18% noted a decrease in credit availability. The New York Fed said the outlook remains subdued and that "after tumbling last month, future indexes remained generally positive but still well below levels of late last year." The future general business conditions index rose a few points to 22.72 from 19.44 in January.
U.S. January Import Prices rose 1.7% compared to consensus of an increase by 0.5%; U.S. January Non-Petroleum Import Prices rose 0.6%; U.S. January Petroleum Import Prices rose 5.5%; U.S. Import Prices rose 13.7% on the year posting a record gain; U.S. Import Prices from China Increased at a record 0.8% on the month compared to 3.3% on the year; U.S. January Export Prices rose 1.2% on the month to post highest reading since 1989.
U.S. December Capacity Use revised to 81.5% from 81.4%; U.S. December Industrial Production revised to an increase by 0.1% from unchanged; U.S. January Capacity Utilization remains unchanged at 81.5% compared to consensus of 81.4%; U.S. January Industrial Production rose 0.1% compared to consensus of an increase by 0.1%.
Commodities Markets
The trend was mixed across the board today for the Energy Sector: Light crude moved higher today by $0.14 to close at $95.60 a barrel; Heating Oil closed with no change at $2.64 a gallon; Natural Gas moved lower today by $0.11 to close at $8.68 per million BTU and Unleaded Gas moved higher today by $0.02 to close at $2.50 a gallon.
Metals Markets ended the session mixed across the board today: Gold moved lower today by $4.70 to close at $906.10 a Troy ounce; Silver moved lower today by $0.14 to close at $17.12 per Troy ounce; Platinum moved strongly higher today by $57.80 to close at $2,063.70 per Troy ounce and Copper closed higher by $0.04 to close at $3.54 per pound.
On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs ended the day lower by $0.10 to close at $64.20; Pork Bellies ended the day higher by $1.18 to close at $93.18; Live Cattle ended the day lower by $0.10 to close at $93.98 and Feeder Cattle ended the day higher by $0.20 at $104.63.
Other Commodities: Corn ended the day higher by $4.25 at $527.50 and Soybeans moved higher today by $5.75 to end the session at $1,391.00.
Bonds were mixed across the board today: 2 year bond moved lower by 2/32 to close at 100 12/32; 5 year bond moved higher by 1/32 to close at 100 16/32 today; 10 year bond moved higher by 5/32 to close at 97 21/32 and the 30 year bond moved higher by 22/32 to close at 96 19/32 on the day.
The e-mini Dow ended the session today at 12,327 with a loss of 69 points on the trading session. The total Dow Exchange Volume for the day came in at 174,936 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 5,279,623; Open Interest for Futures moved higher by 107,880 points to close at 10,846,210; the Open Interest for Options moved higher by 183,113 points to close at 10,483,358 and the Cleared Only closed higher by 995 points to close at 26,304 for a total Open Interest on the day of 21,061,681 for a total Change on the day with a gain of 291,988 points.
At the close of the week, performance results for our Moderators:
Stocks Trading Room:
Jeannie - $7,374
Barry - $14,348
Marty - $6,013
Sam - $3,346
Futures Trading Room:
JT - $9,440
Forex Trading Room:
JT - $6,600
Daily Swing Trades:
Barry - $50,530
Weekly Swing Trades:
Jeannie - $4,780
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
