Daily Market Commentary for April 7, 2008 from Millennium-Traders.Com
As with most Monday trading sessions, trading interest was almost null after a rather active opening bell. Little activity from the sidelines attributed to the light trading volume. The NASDAQ bucked the trend at the closing bell, closing to the negative side of the markets. News that Washington Mutual (NYSE: WM) may be receiving $5 billion in capital from a large but private firm Texas Pacific Group gave the markets a boost over the potential improvement of the troubled mortgage industry. Financial institutions had to turn to outside investors for capital infusions over recent year due to write downs on mortgage related investments of over $230 billion. News on Crude Oil from OPEC Secretary-General Abdullah al-Badri told Iran's IRNA news agency that high oil prices are a result of the low value of the dollar and not due to lack of shortage. Action between Yahoo and Microsoft appears to be heating up. Unless Microsoft produces a better offer, Yahoo could be faced with a nasty proxy fight it appears, if Microsoft's CEO Steve Ballmer doesn't get his way.
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) gain of 3.01 points on the day to end the session at 12,612.43
NYSE (New York Stock Exchange) gain of 27.17 points to end the session at 9,184.70
NASDAQ loss of 6.15 points for a close at 2,364.83
S&P 500 gain of 2.12 points for a close at 1,372.52
FTSE All-World ex-U.S. gain of 1.27 points to close at 248.21
FTSE RAFI 1000 gain of 18.18 points to close at 5,571.16
BEL 20 gain of 43.61 points on the day to end the session at 3,866.41
CAC 40 gain of 43.72 points on the day to end the session at 4,944.60
FTSE100 gain of 67.7 points on the day to end the session at 6,014.80
NIKKEI 225 gain of 157 points on the day to end the session at 13,450.20
News on the New York Stock Exchange (NYSE) today: advanced stocks 1,770; declined stocks 1,396; unchanged stocks 86; stocks hitting new highs 77; stocks hitting new lows 8. Daily Trading Range and end of day trading results for volatile NYSE stocks traded by active Day Traders today: Potash Corp. of Saskatchewan, Incorporated (NYSE: POT) gained 2.39 points on the trading day, high on the trading day $178.05, low on the trading day $170.26, closing price $173.28; Mastercard Incorporated (NYSE: MA) shed 0.17 points on the trading day, high on the trading day $232.82, low on the trading day $225.24, closing price $226.25; Arch Coal Incorporated (NYSE: ACI) shed 0.71 points on the trading day, high on the trading day $52.64, low on the trading day $46.85, closing price $48.22; United States Steel Corporation (NYSE: X) gained 3.02 points on the trading day, high on the trading day $147.97, low on the trading day $141.25, closing price $143.72; Flowserve Corporation (NYSE: FLS) gained 4.77 points on the trading day, high on the trading day $118.00, low on the trading day $112.11, for a closing price at $115.49; Monsanto Corporation (NYSE: MON) gained 0.29 points on the trading day, high on the trading day $124.20, low on the trading day $118.15, closing price $119.59; CME Group, Incorporated (NYSE: CME) shed 1.60 points on the trading day, high on the trading day $526.98, low on the trading day $508.78, closing price $509.00; Massey Energy Corporation (NYSE: MEE) gained 1.02 points on the trading day, high on the trading day $51.66, low on the trading day $46.48, closing price $48.17; CF Industries Holdings, Incorporated (NYSE: CF) gained 1.33 points on the trading day, high on the trading day $133.00, low on the trading day $124.70, closing price $126.97.
News on the NASDAQ today: advanced stocks 1,413; declined stocks 1,528; unchanged stocks 145; stocks hitting new highs 36; stocks hitting new lows 46. Trading range and end of day trading results for volatile NASDAQ stocks traded by active Day Traders today: ScanSource, Incorporated (NasdaqGS: SCSC) shed 4.56 points on the trading day, high on the trading day $31.76, low on the trading day $27.87, closing price $29.93; Apple Incorporated (NasdaqGS: AAPL) gained 2.81 points on the trading day, high on the trading day $159.69, low on the trading day $155.11, closing price $155.89; Intuitive Surgical, Incorporated (NasdaqGS: ISRG) gained 6.70 points on the trading day, high on the trading day $357.89, low on the trading day $341.18, closing price $345.14; First Solar, Incorporated (NasdaqGS: FSLR) shed 5.75 points on the trading day, high on the trading day $291.49, low on the trading day $269.25, closing price $272.25; Baidu.com, Incorporated (NasdaqGS: BIDU) gained 6.11 points on the trading day, high on the trading day $306.77, low on the trading day $294.26, closing price $300.00; SunPower Corporation (NasdaqGS: SPWR) shed 3.96 points on the trading day, with a high on the trading day of $94.34, a low on the trading day $84.41, closing price $86.44; Research In Motion Limited (NasdaqGS: RIMM) shed 1.92 points on the trading day, high on the trading day $121.94, low on the trading day $116.66, closing price $118.07; Google Incorporated (NasdaqGS: GOOG) gained 5.73 points on the trading day, high on the trading day $485.44, low on the trading day $473.53, closing price $476.82.
News on the American Stock Exchange (AMEX) today: advanced stocks 695; declined stocks 541; unchanged stocks 98; stocks hitting new highs 23; stocks hitting new lows 36.
Commodities Markets
Energy Sector: Light Crude (NYM) gained $2.67 on the day to close at $108.90 a barrel ($US per bbl.); Heating Oil (NYM) gained $0.09 on the day to close at $3.08 a gallon ($US per gal.); Natural Gas (NYM) gained $0.48 on the day to close at $9.81 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) gained $0.03 on the day to close at $2.76 a gallon ($US per gal.).
Metals Markets: Gold (CMX) gained $13.80 to close at $926.80 ($US per Troy oz.); Silver (CMX) gained $0.37 to close at $18.12 ($US per Troy oz.); Platinum (NYM) gained $16.40 to close at $2,046.90 ($US per Troy oz.) and Copper (CMX) gained $0.03 to close at $3.98 ($US per lb.).
Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) gained 2.63 to close at 72.23; Pork Bellies (CME) gained 1.23 to close at 72.10; Live Cattle (CME) gained 0.13 to close at 89.20; Feeder Cattle (CME) gained 0.30 to close at 101.10.
Other Commodities (cents per bu.): Corn (CBT) shed 7.25 to close the session at 601.50 and Soybeans (CBT) shed 23.50 to close the session at 1,253.50.
Bonds were lower across the board today: 2 year bond shed 7/32 at 99 27/32 with a Yield of 1.94, Yield Change +0.12; 5 year bond shed 19/32 to close at 98 27/32 with a Yield of 2.74, Yield Change +0.13; 10 year bond shed 24/32 to close at 99 16/32 with a Yield of 3.56, Yield Change +0.10; the 30 year bond shed 1 to close at 100 5/32 on the day with a Yield of 4.36, Yield Change +0.06.
The e-mini Dow $5 ended the commodity session today at 12,611 with a gain of 1 points on the trading session. The total Dow Exchange Volume for the day came in at 173,521 which is comprised of Electronic, Open Auction and Cash Exchange. 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.
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, Cash Exchange, Wholesale and Cleared Only ended the day at 3,705,660; Open Interest for Futures gained 31,433 points to close at 9,306,530; the Open Interest for Options gained 113,663 points to close at 8,628,093 and the Cleared Only shed 61 points to close at 28,482 for a total Open Interest on the day of 17,963,105 for a total Change on the day with a gain of 145,035 points.
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As with most Monday trading sessions, trading interest was almost null after a rather active opening bell. Little activity from the sidelines attributed to the light trading volume. The NASDAQ bucked the trend at the closing bell, closing to the negative side of the markets. News that Washington Mutual (NYSE: WM) may be receiving $5 billion in capital from a large but private firm Texas Pacific Group gave the markets a boost over the potential improvement of the troubled mortgage industry. Financial institutions had to turn to outside investors for capital infusions over recent year due to write downs on mortgage related investments of over $230 billion. News on Crude Oil from OPEC Secretary-General Abdullah al-Badri told Iran's IRNA news agency that high oil prices are a result of the low value of the dollar and not due to lack of shortage. Action between Yahoo and Microsoft appears to be heating up. Unless Microsoft produces a better offer, Yahoo could be faced with a nasty proxy fight it appears, if Microsoft's CEO Steve Ballmer doesn't get his way.
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) gain of 3.01 points on the day to end the session at 12,612.43
NYSE (New York Stock Exchange) gain of 27.17 points to end the session at 9,184.70
NASDAQ loss of 6.15 points for a close at 2,364.83
S&P 500 gain of 2.12 points for a close at 1,372.52
FTSE All-World ex-U.S. gain of 1.27 points to close at 248.21
FTSE RAFI 1000 gain of 18.18 points to close at 5,571.16
BEL 20 gain of 43.61 points on the day to end the session at 3,866.41
CAC 40 gain of 43.72 points on the day to end the session at 4,944.60
FTSE100 gain of 67.7 points on the day to end the session at 6,014.80
NIKKEI 225 gain of 157 points on the day to end the session at 13,450.20
News on the New York Stock Exchange (NYSE) today: advanced stocks 1,770; declined stocks 1,396; unchanged stocks 86; stocks hitting new highs 77; stocks hitting new lows 8. Daily Trading Range and end of day trading results for volatile NYSE stocks traded by active Day Traders today: Potash Corp. of Saskatchewan, Incorporated (NYSE: POT) gained 2.39 points on the trading day, high on the trading day $178.05, low on the trading day $170.26, closing price $173.28; Mastercard Incorporated (NYSE: MA) shed 0.17 points on the trading day, high on the trading day $232.82, low on the trading day $225.24, closing price $226.25; Arch Coal Incorporated (NYSE: ACI) shed 0.71 points on the trading day, high on the trading day $52.64, low on the trading day $46.85, closing price $48.22; United States Steel Corporation (NYSE: X) gained 3.02 points on the trading day, high on the trading day $147.97, low on the trading day $141.25, closing price $143.72; Flowserve Corporation (NYSE: FLS) gained 4.77 points on the trading day, high on the trading day $118.00, low on the trading day $112.11, for a closing price at $115.49; Monsanto Corporation (NYSE: MON) gained 0.29 points on the trading day, high on the trading day $124.20, low on the trading day $118.15, closing price $119.59; CME Group, Incorporated (NYSE: CME) shed 1.60 points on the trading day, high on the trading day $526.98, low on the trading day $508.78, closing price $509.00; Massey Energy Corporation (NYSE: MEE) gained 1.02 points on the trading day, high on the trading day $51.66, low on the trading day $46.48, closing price $48.17; CF Industries Holdings, Incorporated (NYSE: CF) gained 1.33 points on the trading day, high on the trading day $133.00, low on the trading day $124.70, closing price $126.97.
News on the NASDAQ today: advanced stocks 1,413; declined stocks 1,528; unchanged stocks 145; stocks hitting new highs 36; stocks hitting new lows 46. Trading range and end of day trading results for volatile NASDAQ stocks traded by active Day Traders today: ScanSource, Incorporated (NasdaqGS: SCSC) shed 4.56 points on the trading day, high on the trading day $31.76, low on the trading day $27.87, closing price $29.93; Apple Incorporated (NasdaqGS: AAPL) gained 2.81 points on the trading day, high on the trading day $159.69, low on the trading day $155.11, closing price $155.89; Intuitive Surgical, Incorporated (NasdaqGS: ISRG) gained 6.70 points on the trading day, high on the trading day $357.89, low on the trading day $341.18, closing price $345.14; First Solar, Incorporated (NasdaqGS: FSLR) shed 5.75 points on the trading day, high on the trading day $291.49, low on the trading day $269.25, closing price $272.25; Baidu.com, Incorporated (NasdaqGS: BIDU) gained 6.11 points on the trading day, high on the trading day $306.77, low on the trading day $294.26, closing price $300.00; SunPower Corporation (NasdaqGS: SPWR) shed 3.96 points on the trading day, with a high on the trading day of $94.34, a low on the trading day $84.41, closing price $86.44; Research In Motion Limited (NasdaqGS: RIMM) shed 1.92 points on the trading day, high on the trading day $121.94, low on the trading day $116.66, closing price $118.07; Google Incorporated (NasdaqGS: GOOG) gained 5.73 points on the trading day, high on the trading day $485.44, low on the trading day $473.53, closing price $476.82.
News on the American Stock Exchange (AMEX) today: advanced stocks 695; declined stocks 541; unchanged stocks 98; stocks hitting new highs 23; stocks hitting new lows 36.
Commodities Markets
Energy Sector: Light Crude (NYM) gained $2.67 on the day to close at $108.90 a barrel ($US per bbl.); Heating Oil (NYM) gained $0.09 on the day to close at $3.08 a gallon ($US per gal.); Natural Gas (NYM) gained $0.48 on the day to close at $9.81 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) gained $0.03 on the day to close at $2.76 a gallon ($US per gal.).
Metals Markets: Gold (CMX) gained $13.80 to close at $926.80 ($US per Troy oz.); Silver (CMX) gained $0.37 to close at $18.12 ($US per Troy oz.); Platinum (NYM) gained $16.40 to close at $2,046.90 ($US per Troy oz.) and Copper (CMX) gained $0.03 to close at $3.98 ($US per lb.).
Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) gained 2.63 to close at 72.23; Pork Bellies (CME) gained 1.23 to close at 72.10; Live Cattle (CME) gained 0.13 to close at 89.20; Feeder Cattle (CME) gained 0.30 to close at 101.10.
Other Commodities (cents per bu.): Corn (CBT) shed 7.25 to close the session at 601.50 and Soybeans (CBT) shed 23.50 to close the session at 1,253.50.
Bonds were lower across the board today: 2 year bond shed 7/32 at 99 27/32 with a Yield of 1.94, Yield Change +0.12; 5 year bond shed 19/32 to close at 98 27/32 with a Yield of 2.74, Yield Change +0.13; 10 year bond shed 24/32 to close at 99 16/32 with a Yield of 3.56, Yield Change +0.10; the 30 year bond shed 1 to close at 100 5/32 on the day with a Yield of 4.36, Yield Change +0.06.
The e-mini Dow $5 ended the commodity session today at 12,611 with a gain of 1 points on the trading session. The total Dow Exchange Volume for the day came in at 173,521 which is comprised of Electronic, Open Auction and Cash Exchange. 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.
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, Cash Exchange, Wholesale and Cleared Only ended the day at 3,705,660; Open Interest for Futures gained 31,433 points to close at 9,306,530; the Open Interest for Options gained 113,663 points to close at 8,628,093 and the Cleared Only shed 61 points to close at 28,482 for a total Open Interest on the day of 17,963,105 for a total Change on the day with a gain of 145,035 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
