Daily Market Commentary for March 06, 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 loss of 214.60 points on
the day to end the session at 12,040.39
NYSE (New York Stock Exchange) triple digit loss of 197.01 points to end
the session at 8,765.41
NASDAQ loss of 52.31 points for a close at 2,220.50
S&P 500 loss of 29.35 points for a close at 1,304.35
FTSE All-World ex-U.S. loss of 2.22 points to close at 238.06
FTSE RAFI 1000 loss of 115.54 points to close at 5,352.96
BEL 20 loss of 62.68 points to close at 3,673.30
CAC 40 loss of 78.37 points to close at 4,678.05
FTSE100 loss of 87.1 points to close at 5,766.40
NIKKEI 225 loss of 20.2 points to close at 12,972.10
On the NYSE today, advancers came in at 386, decliners totaled 2,805;
unchanged came in at 56; new highs came in at 20 and new lows came in at
274. Momentum NYSE stocks traded by active Day Traders today: BlackRock,
Incor****ated (BLK) shed 17.44 points with a high on the day of $199.75, a
low of $184.00 for a closing price at $184.99; Annaly Capital Management,
Incor****ated (NLY) shed 3.47 points with a high on the day of $17.89, a
low of $14.53 for a closing price at $15.81; American Eagle Outfitters
Incor****ated (AEO) shed 3.72 points with a high on the day of $19.59, a
low of $17.51 for a closing price at $17.56; CIT Group, Incor****ated (CIT)
shed 4.50 points with a high on the day of $20.25, a low of $15.00 for a
closing price at $15.86; Mindray Medical International Limited (MR) shed
1.23 points with a high on the day of $34.69, a low of $32.25 for a
closing price at $33.26; Capstead Mortgage Cor****ation (CMO) shed 5.00
points with a high on the day of $14.65, a low of $10.81 for a closing
price at $11.30; Goldman Sachs Group Inc (GS) shed 6.32 points with a high
on the day of $163.59, a low of $158.13 for a closing price at $158.65;
Abercrombie & Fitch Cor****ation (ANF) shed 5.40 points with a high on the
day of $78.45, a low of $73.64 for a closing price at $73.64; KKR
Financial Holdings LLC (KFN) shed 0.19 points with a high on the day of
$13.63, a low of $10.12 for a closing price at $12.80; Merrill Lynch &
Company Incor****ated (MER) shed 3.46 points with a high on the day of
$47.40, a low of $45.70 for a closing price at $45.86; VeriFone Holdings
Incor****ated (PAY) shed 4.19 points with a high on the day of $19.42, a
low of $15.44 for a closing price at $15.45; Longs Drug Stores Cor****ation
(LDG) shed 6.81 points with a high on the day of $46.00, a low of $40.07
for a closing price at $41.00; Mosaic Cor****ation (MOS) gained 0.81 points
with a high on the day of $113.45, a low of $110.02 for a closing price at
$111.45; Transocean, Incor****ated (RIG) shed 2.73 points with a high on
the day of $142.25, a low of $138.02 for a closing price at $138.43; Ambac
Financial Group, Incor****ated (ABK) shed 1.28 points with a high on the
day
of $8.50, a low of $7.25 for a closing price at $7.42; InterContinental
Exchange, Incor****ated (ICE) shed 4.42 points with a high on the day of
$137.15, a low of $131.04 for a closing price at $132.44; CME Group,
Incor****ated (CME) shed 11.84 points with a high on the day of $517.98, a
low of $504.60 for a closing price at $505.45.
On the NASDAQ today, advanced totaled 577; decliners totaled 2,362;
unchanged came in at 120; new highs came in at 16 and new lows came in at
319. Momentum NASDAQ stocks traded by active Day Traders today: Omrix
Biopharmaceuticals, Incor****ated (OMRI) shed 10.96 points with a high on
the day of $24.21, a low of $13.88 for a closing price at $14.09; Tessera
Technologies Incor****ated (TSRA) gained 1.37 points with a high on the day
of $16.60, a low of $14.81 for a closing price at $15.19; Mercadolibre,
Incor****ated (MELI) gained 2.11 points with a high on the day of $41.80, a
low of $37.82 for a closing price at $39.24; Gymboree Cor****ation (GYMB)
shed 3.68 points with a high on the day of $41.20, a low of $37.94 for a
closing price at $38.15; Petsmart Incor****ated (PETM) shed 2.61 points
with a high on the day of $21.34, a low of $19.64 for a closing price at
$19.64; Garmin Limited (GRMN) shed 1.21 points with a high on the day of
$58.00, a low of $55.90 for a closing price at $56.03; SunPower Corp
(SPWR) shed 6.50 points with a high on the day of $70.92, a low of $63.46
for a closing price at $63.53; Apple Incor****ated (AAPL) shed 3.56 points
with a high on the day of $127.50, a low of $120.81 for a closing price at
$120.93; First Solar, Incor****ated (FSLR) shed 4.42 points with a high on
the day of $216.00, a low of $206.67 for a closing price at $208.77;
Google Incor****ated (GOOG) shed 15.00 points with a high on the day of
$453.60, a low of $431.18 for a closing price at $432.70; Intuitive
Surgical, Incor****ated (ISRG) shed 15.56 points with a high on the day of
$288.65, a low of $269.82 for a closing price at $270.76; Baidu.com,
Incor****ated (BIDU) gained 0.20 points with a high on the day of $252.47,
a low of $241.48 for a closing price at $242.42; Research In Motion
Limited (RIMM) shed 3.81 points with a high on the day of $103.11, a low
of $97.82 for a closing price at $97.92.
President Federal Reserve Bank of New York Timothy F. Geithner: Large
Banks have been able to Absorb Shocks; Many Aspects of regular Framework
hard to Defend; U.S. Financial System has proven Resilient; Regular System
must catch up with Innovation; World's more Robust to U.S. Slowdown; no
Central Bank can Ignore Fall in its Currency; no risk to U.S. in Evolution
of Global Reserves; Need Strong Regulatory Focus on Mortgage Origination;
Im****tant to Preserve U.S. Openness to Foreign Cap.
National Association of Realtors - U.S. Pending-Home Sales were flat in
January or down 19.6% on the year.
Mortgage Bankers Association: 4Q Delinquencies, Foreclosures continue to
set records.
U.S. Jobless Claims fell 24K to 351K for week of March 1 compared to
survey of a drop by 10K; U.S. Continuing Claims for week of February 23
week rose 29K to 2,831,000.
Boston Federal Reserve Bank President Eric Rosengren: Ratings
Uncertainties Reducing Liquidity; Ratings Uncertainties a Cause for Bank
Write-Offs; Haste Required in Restoring Confidence to Ratings; Less
Complex Securities might be smart; Credit Card delinquencies rising;
Possible to avoid U.S. Recession but too early to tell.
Commodities Markets
The trend was higher across the board today for the Energy Sector: Light
crude moved higher today by $0.95 to close at $105.47 a barrel; Heating
Oil moved higher today by $0.03 to close at $2.97 a gallon; Natural Gas
closed with no change at $9.74 per million BTU and Unleaded Gas moved
higher today by $0.01 to close at $2.65 a gallon.
Metals Markets ended the session lower across the board today: Gold moved
sharply lower today by $11.40 to close at $977.10 a Troy ounce; Silver
moved lower today by $0.56 to close at $20.23 per Troy ounce; Platinum
moved sharply lower today by $75.30 to close at $2,200.80 per Troy ounce
and Copper closed lower by $0.08 to close at $3.90 per pound.
On the Livestock and Meat Markets, the trend was mostly lower across the
board today: Lean Hogs ended the day higher by $0.63 to close at $57.40;
****k Bellies ended the day lower by $0.80 to close at $87.05; Live Cattle
ended the day lower by $0.65 to close at $89.95 and Feeder Cattle ended
the day lower by $1.23 to close at $103.08.
Other Commodities: Corn ended the day higher by $0.25 at $567.25 and
Soybeans ended the day sharply lower by $49.75 to end the session at
$1,458.75.
Bonds were higher across the board today: 2 year bond closed higher by
8/32 at 100 30/32; 5 year bond moved higher by 15/32 to close at 101 8/32
today; 10 year bond moved higher by 27/32 to close at 99 8/32 and the 30
year bond moved higher by 22/32 to close at 97 on the day.
The e-mini Dow ended the session today at 12,074 with a loss of 202 point1
on the trading session. The total Dow Exchange Volume for the day came in
at 224,307 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
6,084,416; Open Interest for Futures moved lower by 55,774 points to close
at 10,222,091; the Open Interest for Options moved higher by 244,741
points
to close at 7,530,679 and the Cleared Only moved higher by 576 points to
close at 27,719 for a total Open Interest on the day of 17,780,489 for a
total Change on the day with a gain of 189,543 points.
Monitor scheduled economic data every market morning by viewing the Daily
Market Re****t 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
http://www.millennium-traders.com
To view additional Daily Market Commentary's Click Here
http://www.millennium-traders.com/news/newscommentary.aspx
--
Message posted using
http://www.talkaboutinvestments.com/group/misc.invest.marketplace/
More information at http://www.talkaboutinvestments.com/faq.html
|
