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$100 Oil, Just another Number

Discussion in 'Forex Daily News & Outlook' started by MTnews, Feb 20, 2008.

  1. MTnews

    MTnews Content Contributor

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    Daily Market Commentary for February 20, 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) gain of 90.04 points on the day to end the session at 12,427.26

    NYSE (New York Stock Exchange) gain of 50.92 points to end the session at 9,073.96

    NASDAQ gain of 20.90 points for a close at 2,327.10

    S&P 500 gain of 11.25 points for a close at 1,360.03

    RUSSELL 2000 gain of 7.68 points to close at 710.02

    FTSE All-World ex-U.S. loss of 1.19 points to close at 239.99

    FTSE RAFI 1000 gain of 40.02 points to close at 5,595.69

    BEL 20 loss of 32.06 points to close at 3,734.17

    CAC 40 loss of 73.02 points to close at 4,812.81

    FTSE100 loss of 73.3 points to close at 5,893.60

    NIKKEI 225 loss of 447.5 points to close at 13,310.40

    On the NYSE today, advancers came in at 1,942 decliners totaled 1,206; unchanged came in at 102; new highs came in at 44 and new lows came in at 58. Momentum stocks traded by active Day Traders on the NYSE today: CME Group, Incorporated (CME) gained 1.50 points with a high on the day of $521.50, a low of $501.29 for a closing price at $521.50; Transocean, Incorporated (RIG) gained 9.08 points with a high on the day of $138.73, a low of $129.01 for a closing price at $138.73; BlackRock, Incorporated (BLK) gained 2.48 points with a high on the day of $193.45, a low of $180.83 for a closing price at $190.84; Mosaic Corporation (MOS) gained 4.49 points with a high on the day of $114.80, a low of $107.74 for a closing price at $114.04; Suntech Power Holdings Corporation Limited (STP) shed 5.65 points with a high on the day of $40.38, a low of $34.90 for a closing price at $40.24; Inverness Medical Innovations Incorporated (IMA) shed 7.04 points with a high on the day of $42.14, a low of $33.82 for a closing price at $36.83; MEMC Electronic Materials Incorporated (WFR) gained 0.78 points with a high on the day of $79.41, a low of $73.58 for a closing price at $78.41; Walter Industries Incorporated (WLT) gained 5.05 points with a high on the day of $51.75, a low of $47.57 for a closing price at $51.46; Tween Brands, Incorporated (TWB) shed 2.18 points with a high on the day of $30.48, a low of $28.13 for a closing price at $29.15; Hess Corporation (HES) gained 0.32 points with a high on the day of $95.00, a low of $91.10 for a closing price at $94.41; Potash Corp. of Saskatchewan, Incorporated (POT) gained 3.50 points with a high on the day of $158.30, a low of $150.75 for a closing price at $156.00; Valmont Industries, Incorporated (VMI) shed 2.33 points with a high on the day of $79.58, a low of $76.41 for a closing price at $77.95; Monsanto Corporation (MON) gained 1.18 points with a high on the day of $119.42, a low of $115.35 for a closing price at $119.05.

    On the NASDAQ today, advanced totaled 1,650; decliners totaled 1,312; unchanged came in at 137; new highs came in at 19 and new lows came in at 157. Momentum stocks traded by active Day Traders on the NASDAQ today: Garmin Limited (GRMN) shed 5.03 points with a high on the day of $73.29, a low of $61.88 for a closing price at $64.47; First Solar, Incorporated (FSLR) gained 5.06 points with a high on the day of $217.40, a low of $201.32 for a closing price at $217.00; Baidu.com Incorporated (BIDU) gained 0.45 points with a high on the day of $250.27, a low of $234.40 for a closing price at $247.20; NutriSystem Incorporated (NTRI) shed 7.31 points with a high on the day of $18.03, a low of $16.32 for a closing price at $16.58; SunPower Corporation (SPWR) shed 2.99 points with a high on the day of $73.61, a low of $69.73 for a closing price at $72.98; Intuitive Surgical, Incorporated (ISRG) gained 0.93 points with a high on the day of $294.11, a low of $281.84 for a closing price at $291.43; Matria Healthcare Incorporated (MATR) shed 21.86 points with a high on the day of $29.42, a low of $26.05 for a closing price at $27.53; DealerTrack Holdings, Incorporated (TRAK) shed 25.97 points with a high on the day of $22.88, a low of $20.09 for a closing price at $20.86; Google Incorporated (GOOG) gained 0.05 points with a high on the day of $511.01, a low of $498.82 for a closing price at $509.00.

    Federal Open Market Committee Minutes: Officials on January 9 saw chance of Big Rate Cuts; Fed Sees Slower U.S. Economic Growth, Rising Price Pressure on 2008; FOMC Met On January 9. Conference Call but No Action Taken; Some Worried January 22 Cut Would Be Seen As Market-Driven; January 22 Rate Cut Spurred by Weak Economy, Market Strains; Dallas Fed's Fisher Wanted No Rate Cut on January 30; Inflation Data 'Disappointing' but Should Moderate; Inflation Expectations Edged Higher but Still Anchored; Decisive Rate Cut Seen as Reducing Economic Worries; May Need 'Rapid Reversal' of Easing Once Economy Stable; Downside Risks Persist even after January Rate Cuts.

    U.S. Thrifts Report Record $5.24 Billion Loss in 4th Quarter.

    U.S. Annual Core CPI Highest since March 2007; U.S. Real Average Weekly Earnings fell 0.5% in January; U.S. January CPI Energy Prices rose 0.7%; U.S. January CPI Food Prices rose 0.7%; U.S. January CPI Unrounded rose 0.395%; U.S. January CPI Core rose 0.311%; U.S. January CPI Excluding Food & Energy rose 0.3% compared to consensus of an increase by 0.2%; U.S. Jan Consumer Prices rose 0.4% compared to consensus of an increase by 0.3%.

    December Housing Starts were revised lower by 14.8% from down by 14.2%; Building Permits fell 3.0% to 1.048M Rate in January; U.S. January Housing Starts rose 0.8% to 1.012M compared to consensus of an increase by 1.4%.

    Redbook: U.S. Retail Sales fell 1.1% for first 2 Weeks in February versus January.

    Commodities Markets
    The trend was mostly lower across the board today for the Energy Sector: Light crude moved higher today by $0.73 to close at a record high at $100.74 a barrel; Heating Oil moved lower today by $0.01 to close at $2.74 a gallon; Natural Gas moved lower today by $0.02 to close at $8.97 per million BTU and Unleaded Gas moved lower today by $0.02 to close at $2.59 a gallon.

    Metals Markets ended the session mixed across the board today: Gold moved higher today by $8.00 to close at $937.80 a Troy ounce; Silver moved higher today by $0.26 to close at $17.77 per Troy ounce; Platinum moved lower today by $14.30 to close at $2,138.80 per Troy ounce and Copper closed lower by $0.01 to close at $3.72 per pound.

    On the Livestock and Meat Markets, the trend was higher across the board today: Lean Hogs ended the day higher by $0.55 to close at $65.08; Pork Bellies ended the day higher by $0.65 to close at $96.18; Live Cattle ended the day higher by $1.03 to close at $94.95 and Feeder Cattle ended the day higher by $0.88 at $108.75.

    Other Commodities: Corn ended the day higher by $3.50 at $532.50 and Soybeans moved lower today by $0.75 to end the session at $1,417.00.

    Bonds were mixed across the board today: 2 year bond moved lower by 4/32 to close at 99 31/32; 5 year bond moved lower by 7/32 to close at 99 15/32 today; 10 year bond closed with no change at 96 23/32 and the 30 year bond moved higher by 31/32 to close at 96 7/32 on the day.

    The e-mini Dow ended the session today at 12,418 with a gain of 30 points on the trading session. The total Dow Exchange Volume for the day came in at 183,167 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 5,670,135; Open Interest for Futures moved higher by 89,784 points to close at 10,880,212; the Open Interest for Options moved higher by 53,105 points to close at 10,626,658 and the Cleared Only closed higher by 15 points to close at 26,649 for a total Open Interest on the day of 21,533,519 for a total Change on the day with a gain of 142,904 points.

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    Thanks for reading
    Millennium-Traders.Com

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