Daily Market Commentary for April 30, 2008 from Millennium-Traders.Com
Todays top stock goes to First Solar, Incorporated (NasdaqGS: FSLR) a
solar stock, after announcing 1Q revenue more than doubled to $196.9
million from $66.9 million for 1Q 2007. First Solars' earnings spiked to
$46.6 million or 57 cents per share from $5 million or 7 cents per share a
year ago. (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) loss of 20.03 points on the day to end
the session at 12,811.91
NYSE (New York Stock Exchange) gain of 12.37 points to end the session at
9,298.28
NASDAQ loss of 14.41 points for a close at 2,411.69
S&P 500 loss of 6.03 points for a close at 1,384.91
FTSE All-World ex-U.S. gain of 1.11 points to close at 251.36
FTSE RAFI 1000 loss of 15.27 points to close at 5,616.68
BEL 20 gain of 17.13 points on the day to end the session at 3,925.43
CAC 40 gain of 19.44 points on the day to end the session at 4,996.54
FTSE100 loss of 2.1 points on the day to end the session at 6,087.30
NIKKEI 225 loss of 44.4 points on the day to end the session at 13,850.00
News on the New York Stock Exchange (NYSE) today: advanced stocks 1,683;
declined stocks 1,474; unchanged stocks 85; stocks hitting new highs 45;
stocks hitting new lows 25.
Daily Trading Range and end of day trading results for volatile NYSE
stocks traded by active Day Traders today:
Transocean, Incorporated (NYSE: RIG) gained 0.43 points on the trading
day, high on the trading day $150.02, low on the trading day $144.58, for
a closing price at $147.41;
Chicago Bridge & Iron Company N.V. (NYSE: CBI) shed 8.31 points on the
trading day, high on the trading day $44.17, low on the trading day
$37.93, for a closing price at $40.00;
Commscope Incorporated (NYSE: CTV) gained 5.90 points on the trading day,
high on the trading day $48.41, low on the trading day $43.52, for a
closing price at $47.50;
Oil States International Incorporated (NYSE: OIS) gained 3.31 points on
the trading day, high on the trading day $51.94, low on the trading day
$47.31, for a closing price at $49.98;
Jones Lang Lasalle Incorporated (NYSE: JLL) shed 9.99 points on the
trading day, high on the trading day $82.13, low on the trading day
$76.28, for a closing price at $77.71;
Stone Energy Corporation (NYSE: SGY) shed 6.69 points on the trading day,
high on the trading day $66.99, low on the trading day $59.67, for a
closing price at $61.16;
Monsanto Corporation (NYSE: MON) gained 3.06 points on the trading day,
high on the trading day $116.94, low on the trading day $112.34, for a
closing price at $113.99;
Potash Corporation of Saskatchewan, Incorporated (NYSE: POT) gained 4.42
points on the trading day, high on the trading day $189.20, low on the
trading day $180.63, for a closing price at $185.91;
Petroleo Brasileiro (NYSE: PBR) gained 5.00 points on the trading day,
high on the trading day $124.72, low on the trading day $115.60, for a
closing price at $121.79;
Visa Incorporated (NYSE: V) gained 2.49 points on the trading day, high on
the trading day $84.81, low on the trading day $81.07, for a closing price
at $83.37;
Mosaic Corporation (NYSE: MOS) gained 4.55 points on the trading day, high
on the trading day $123.95, low on the trading day $117.14 , for a closing
price at $122.61;
CF Industries Holdings, Incorporated (NYSE: CF) gained 2.79 points on the
trading day, high on the trading day $136.88, low on the trading day
$131.51, for a closing price at $133.96;
Mastercard Incorporated (NYSE: MA) gained 5.27 points on the trading day,
high on the trading day $282.96, low on the trading day $275.00, for a
closing price at $279.25.
News on the NASDAQ today: advanced stocks 1,390; declined stocks 1,516;
unchanged stocks 124; stocks hitting new highs 34; stocks hitting new lows
79.
Trading range and end of day trading results for volatile NASDAQ stocks
traded by active Day Traders today:
SAVVIS Incorporated (NasdaqGS: SVVS) shed 4.08 points on the trading day,
high on the trading day $14.89, low on the trading day $13.65, for a
closing price at $14.60;
Garmin Limited (NasdaqGS: GRMN) shed 5.55 points on the trading day, high
on the trading day $44.75, low on the trading day $39.75, for a closing
price at $50.89;
First Solar, Incorporated (NasdaqGS: FSLR) gained 6.98 points on the
trading day, high on the trading day $307.80, low on the trading day
$286.14, for a closing price at $291.90;
Google Incorporated (NasdaqGS: GOOG) gained 16.53 points on the trading
day, high on the trading day $584.86, low on the trading day $561.00,
closing price $575.00.
News on the American Stock Exchange (AMEX) today: advanced stocks 632;
declined stocks 533; unchanged stocks 105; stocks hitting new highs 11;
stocks hitting new lows 21.
Department Of Energy: U.S. Refineries ran at capacity of 85.4% compared to
expectations of an increase by 0.3 percent at 85.9%; U.S. Distillate
Stockpiles increased by 1.13 Million Barrels in the week compared to
expectations of unchanged; U.S. Gasoline Stockpiles decreased by 1.48
Million Barrels in the week compared to expectations of a decrease by
800,000 Million Barrels; U.S. Crude Oil Stockpiles increased by 3.85
Million Barrels in the week compared to expectations of increase by
500,000 Million Barrels; U.S. Refineries ran at 85.4% versus 85.6% a week
ago; U.S. Distillate Stockpiles increased by 1.129 Million Barrels at
105.831 Million Barrels; U.S. Gasoline Stockpiles decreased by 1.483
Million Barrels at 211.089 Million Barrels; U.S. Crude Oil Stockpiles
increased by 3.848 Million Barrels at 319.929 Million Barrels.
U.S. Chicago Purchasing Management Adjustment for April Index came in at
48.3 versus March reading of 48.2; U.S. Chicago Purchasing Management Apr
Prices Paid Index came in at 82.9 versus March reading of 83.9; U.S.
Chicago Purchasing Management Apr Supplier Deliveries came in at 52.5
versus March reading of 54.9; U.S. Chicago Purchasing Management Apr
Employment Index came in at 35.3 versus March reading of 44.6; U.S.
Chicago Purchasing Management Apr New Orders Index came in at 53.0 versus
March reading of 53.9.
U.S. 1Q Employment Cost Index increased by 0.7% compared to consensus of
an increase by 0.8%; U.S.1Q Employment Cost Index increased by 3.3% from
year ago; U.S.1Q Employment Cost Growth slowest since 1Q 2006.
U.S. GDP increased by 0.6% Rate In 1Q compared to consensus of an increase
by 0.6%; Real Final Sales fell by 0.2% in 1Q; PCE Price Index increased by
3.5% Rate in 1Q; Domestic Purchases Price Index increased by 3.5% Rate in
1Q; Chain-Weighted Price Index increased by 2.6% Rate in 1Q.
ADP sees April U.S. Private Sector Jobs increasing by 10,000 and ADP April
U.S. Private Sector Jobs Expected to drop by 70,000.
Federal Open Market Committee voted to cut Discount Rate by 0.25 percent
to 2.25%; Fed cut Fed Funds Rate by 0.25 percent to 2.0%; Pause likely
ahead; Some Indicators of Inflation Expectations have risen; Uncertainty
about Inflation outlook remains high; Inflation seen moderating, but will
monitor carefully; Easing to date should promote moderate growth over
time; Will act as needed to promote growth, price stability; Labor markets
have softened, financial markets under considerable stress; Fisher,
Plosser
Dissented, Preferred no Change in rates.
Mortgage Applications fell 11.1% last week according to the Mortgage
Bankers Association.
Commodities Markets
Energy Sector:
Light Crude (NYM) shed $2.17 on the day to close at $114.69 a barrel ($US
per bbl.); Heating Oil (NYM) shed $0.08 on the day to close at $3.16 a
gallon ($US per gal.); Natural Gas (NYM) closed at $10.84 per million BTU
($US per mmbtu.); Unleaded Gas (NYM) shed $0.03 on the day to close at
$2.91 a gallon ($US per gal.).
Metals Markets:
Gold (CMX) shed $11.80 to close at $865.00 ($US per Troy oz.); Silver
(CMX) shed $0.05 to close at $16.59 ($US per Troy oz.); Platinum (NYM)
shed $4.90 to close at $1,935.20 ($US per Troy oz.) and Copper (CMX)
gained $0.02 to close at $3.90 ($US per lb.).
Livestock and Meat Markets (cents per lb.):
Lean Hogs (CME) gained 0.93 to close at 73.48; Pork Bellies (CME) gained
0.88 to close at 75.98; Live Cattle (CME) shed 0.70 to close at 93.48;
Feeder Cattle (CME) gained 0.30 to close at 108.53.
Other Commodities (cents per bu.):
Corn (CBT) gained 7.75 to close the session at 612.25 and Soybeans (CBT)
gained 20.50 to close the session at 1,314.00.
Bonds were higher across the board today:
2 year bond gained 5/32 to close at 99 22/32 with a Yield of 2.28, Yield
Change -0.07; 5 year bond gained 11/32 to close at 100 12/32 with a Yield
of 3.03, Yield Change -0.08; 10 year bond gained 3/32 to close at 97 15/32
with a Yield of 3.75, Yield Change -0.07; the 30 year bond gained 1 1/32
to
close at 98 3/32 on the day with a Yield of 4.49, Yield Change -0.06.
The e-mini Dow $5 ended the commodity session today at 12,828 with a gain
of 2 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
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