Daily Market Commentary for April 22, 2008 from Millennium-Traders.Com
Crude Oil bolted to over $119.00 a barrel, just off the $120 mark and
somebody should stop it! The markets held in negative territory through
out the trading session amidst a combo of earnings reports and of course
the pathetic price of Crude Oil (unless your an oil man of course). (read
more http://www.millennium-traders.com/news/newscommentary.aspx)
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 104.79 points on
the day to end the session at 12,720.23
NYSE (New York Stock Exchange) loss of 84.32 points to end the session at
9,227.97
NASDAQ loss of 31.10 points for a close at 2,376.94
S&P 500 loss of 12.23 points for a close at 1,375.94
FTSE All-World ex-U.S. loss of 1.22 points to close at 249.73
FTSE RAFI 1000 loss of 57.56 points to close at 5,522.43
BEL 20 loss of 30.95 points on the day to end the session at 3,859.14
CAC 40 loss of 37.71 points on the day to end the session at 4,872.64
FTSE100 loss of 18.3 points on the day to end the session at 6,034.70
NIKKEI 225 triple digit loss of 148.8 points on the day to end the session
at 13,547.80
News on the New York Stock Exchange (NYSE) today: advanced stocks 885;
declined stocks 2,280; unchanged stocks 84; stocks hitting new highs 90;
stocks hitting new lows 65. Daily Trading Range and end of day trading
results for volatile NYSE stocks traded by active Day Traders today:
Monsanto Company (NYSE: MON) shed 1.25 points on the trading day, high on
the trading day $131.25, low on the trading day $127.42, for a closing
price at $128.35; Intrepid Potash, Incorporated (NYSE: IPI) high on the
trading day $65.00, low on the trading day $32.00, for a closing price at
$46.25; DST Systems Incorporated (NYSE: DST) shed 10.40 points on the
trading day, high on the trading day $62.81, low on the trading day
$53.83, for a closing price at $56.90; InterContinental Exchange,
Incorporated (NYSE: ICE) shed 9.89 points on the trading day, high on the
trading day $159.06, low on the trading day $148.46, for a closing price
at $149.68; Petroleo Brasileiro (NYSE: PBR) shed 1.24 points on the
trading day, high on the trading day $130.92, low on the trading day
$127.24, for a closing price at $127.59; Platinum Underwriters Holdings
Limited (NYSE: PTP) gained 2.27 points on the trading day, high on the
trading day $36.50, low on the trading day $34.44, for a closing price at
$36.03; Transocean, Incorporated (NYSE: RIG) shed 1.73 points on the
trading day, high on the trading day $159.62, low on the trading day
$156.16, for a closing price at $157.94; UltraShort Financials ProShares
(NYSE: SKF) gained 2.67 points on the trading day, high on the trading day
$108.68, low on the trading day $105.82, for a closing price at $107.77;
CF
Industries Holdings, Incorporated (NYSE: CF) shed 2.46 points on the
trading day, high on the trading day $158.50, low on the trading day
$149.82, for a closing price at $153.50; Meredith Corporation (NYSE: MDP)
shed 4.82 points on the trading day, high on the trading day $36.49, low
on the trading day $32.51, for a closing price at $32.52; CME Group,
Incorporated (NYSE: CME) shed 46.48 points on the trading day, high on the
trading day $503.98, low on the trading day $460.26, for a closing price
at
$477.02; Potash Corporation of Saskatchewan, Incorporated (NYSE: POT)
gained 5.48 points on the trading day, high on the trading day $206.71,
low on the trading day $214.69, for a closing price at $214.27; Hess
Corporation (NYSE: HES) gained 3.48 points on the trading day, high on the
trading day $116.81, low on the trading day $111.01, for a closing price
at
$116.04.
News on the NASDAQ today: advanced stocks 706; declined stocks 2,222;
unchanged stocks 134; stocks hitting new highs 24; stocks hitting new lows
134. Trading range and end of day trading results for volatile NASDAQ
stocks traded by active Day Traders today: Intuitive Surgical,
Incorporated (NasdaqGS: ISRG) shed 15.73 points on the trading day, high
on the trading day $286.98, low on the trading day $275.13, for a closing
price at $275.75; Netflix, Incorporated (NasdaqGS: NFLX) shed 9.31 points
on the trading day, high on the trading day $33.75, low on the trading day
$29.45, for a closing price at $30.01; First Solar, Incorporated
(NasdaqGS:
FSLR) gained 7.06 points on the trading day, high on the trading day
$308.24, low on the trading day $295.71, for a closing price at $298.91;
Millicom International Cellular SA (NasdaqGS: MICC) gained 11.70 points on
the trading day, high on the trading day $109.05, low on the trading day
$101.51, for a closing price at $107.51; Google Incorporated (NasdaqGS:
GOOG) gained 18.65 points on the trading day, high on the trading day
$560.83, low on the trading day $537.56, closing price $556.44; Baidu.com,
Incorporated (NasdaqGS: BIDU) shed 7.11 points on the trading day, high on
the trading day $356.90, low on the trading day $343.31, closing price
$350.40.
News on the American Stock Exchange (AMEX) today: advanced stocks 451;
declined stocks 765; unchanged stocks 102; stocks hitting new highs 37;
stocks hitting new lows 31.
Redbook: U.S. Retail Sales fell 1.3% during first 2 weeks in April versus
March. U.S. chain store sales fell 1.3% in the first two weeks of April
compared with the previous month, according to Redbook Research's latest
indicator of national retail sales released Tuesday. The drop in the index
was slightly milder than the targeted 1.4%, according to the report. The
Johnson Redbook Index additionally showed seasonally adjusted sales in the
month-to-date rose 1.9% compared with April 2007 which is just above the
1.8% targeted increase. Redbook said on an unadjusted basis, sales in the
week ending April 19 were up 1.7% from the same week in 2007, after a 2.0%
gain the previous week.
U.S. March Existing Home Sales consensus was at rate of 4.93M; U.S.
Inventory of Unsold U.S. Homes at 9.9 months supply; U.S. March Median
Existing Home Price fell 7.7% on the year to $200,700.
Richmond Fed: April Retail Revenues Index fell 10 versus March reading at
a drop by 30; April Services Revenues Index fell 2 versus March reading at
a drop by 5; April Mfg Shipments Index 6 versus March reading of 13; April
Manufacturing Index 0 versus March reading of 6. Economic activity in the
Richmond area contracted in April per the Federal Reserve Bank of Richmond
announcement on Tuesday. In March, activity in the area had expanded for
the first time in five months. This month however, the bank's
manufacturing index for the current month fell, coming in at 0 versus 6 in
March. Growth in factory shipments and new orders tapered off and factory
employment contracted further, according to the survey, with most other
indicators also suggesting additional softness. The shipments index was at
6 from 13 in March. Numbers above zero point to growth. In the service
sector, the service sector revenues index improved, rising to a negative 2
from a negative 5. The employment index also improved in April, with
hiring activity in the service sector at a drop by 2 in April compared to
a drop by 4 during March. The retail sales index also rose, hitting a
negative 10 in April, from a negative 30 the previous month. Employment
was steady, at a negative 22. On prices, manufacturers reported that raw
material prices fell at an average annual rate of 4.63% in April, compared
with March's reading of 4.97%. Finished good prices, though rose at a
2.55%
pace, climbing above with March's reading of 1.98%. Meanwhile, companies
remained less confident overall about their business prospects for the
next six months. The index of expected shipments ticked up in April to 15
from 14, and the new orders indicator fell to 6 from 9. Readings on
planned capital expenditures were flat with the index at a reading of 2
the prior month. Companies' plans to increase employment slipped, with the
index at 4 versus index of 5 in March. The average workweek reading fell
to
1 from 2. The expected wage index fell to 18 from 20. Regarding prices
over
the next six months, respondents expect the prices they pay will lessen.
The prices paid index for six month's ahead was at 4.35% versus 5.44% and
the prices received was at 1.98% versus 2.85%. All companies that
participated in the survey are located within the Federal Reserve of
Richmond district, which includes the District of Columbia, Maryland,
North Carolina, South Carolina, Virginia and most of West Virginia.
Commodities Markets
Energy Sector:
Light Crude (NYM) gained $1.89 on the day to close at $119.50 a barrel
($US per bbl.); Heating Oil (NYM) gained $0.01 on the day to close at
$3.20 a gallon ($US per gal.); Natural Gas (NYM) shed $0.11 on the day to
close at $10.76 per million BTU ($US per mmbtu.); Unleaded Gas (NYM)
gained $0.04 on the day to close at $3.02 a gallon ($US per gal.).
Metals Markets:
Gold (CMX) gained $7.60 to close at $925.200 ($US per Troy oz.); Silver
(CMX) gained $0.35 to close at $17.71 ($US per Troy oz.); Platinum (NYM)
gained $10.10 to close at $2,037.40 ($US per Troy oz.) and Copper (CMX)
gained $0.09 to close at $3.96 ($US per lb.).
Livestock and Meat Markets (cents per lb.):
Lean Hogs (CME) gained 0.70 to close at 73.68; Pork Bellies (CME) shed
0.95 to close at 74.55; Live Cattle (CME) gained 0.15 to close at 92.10;
Feeder Cattle (CME) shed 0.03 to close at 109.08.
Other Commodities (cents per bu.):
Corn (CBT) gained 14.00 to close the session at 607.75 and Soybeans (CBT)
gained 59.00 to close the session at 1,389.50.
Bonds were higher across the board today:
2 year bond shed 1/32 at 99 5/32 with a Yield of 2.18, Yield Change +0.01;
5 year bond no change to close at 98 14/32 with a Yield of 2.93, Yield
Change 0.00; 10 year bond gained 10/32 to close at 98 14/32 with a Yield
of 3.69, Yield Change 0.03; the 30 year bond gained 26/32 to close at 98
28/32 on the day with a Yield of 4.44, Yield Change 0.05.
The e-mini Dow $5 ended the commodity session today at 12,713 with a loss
of 95 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.
The end of day results for the CBOT (Chicago Board of Trade) not
available.
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