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Buffet Offers $800 Billion Boost

Discussion in 'Forex Daily News & Outlook' started by MTnews, Feb 12, 2008.

  1. MTnews

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    Daily Market Commentary for February 12, 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 gain of 133.40 points on the day to end the session at 12,373.41

    NYSE (New York Stock Exchange) gain of 97.07 points to end the session at 8,965.35

    NASDAQ loss of 0.02 points for a close at 2,320.04

    S&P 500 gain of 9.73 points for a close at 1,348.86

    RUSSELL 2000 gain of 5.73 points to close at 705.48

    FTSE All-World ex-U.S. gain of 3.81 points to close at 237.96

    FTSE RAFI 1000 gain of 38.91 points to close at 5,543.60

    BEL 20 gain of 110.8 points to close at 3,694.05

    CAC 40 gain of 158.01 points to close at 4,840.71

    FTSE100 gain of 202.3 points to close at 5,910.00

    NIKKEI 225 gain of 4.8 points to close at 13,022.00

    On the NYSE today, advancers came in at 1,972 decliners totaled 1,213; unchanged came in at 81; new highs came in at 49 and new lows came in at 49. Momentum stocks traded by active Day Traders on the NYSE today: Potash Corporation of Saskatchewan, Incorporated (POT) gained 5.20 points with a high on the day of $154.63, a low of $146.01 for a closing price at $149.28; CME Group, Incorporated (CME) gained 8.75 points with a high on the day of $543.67, a low of $523.71 for a closing price at $530.25; Petroleo Brasileiro (PBR) shed 1.35 points with a high on the day of $117.95, a low of $112.55 for a closing price at $113.75; CF Industries Holdings, Incorporated (CF) gained 1.56 points with a high on the day of $119.91, a low of $111.80 for a closing price at $113.06; Mosaic Corporation (MOS) gained 0.88 points with a high on the day of $106.16, a low of $99.09 for a closing price at $100.41; Rio Tinto plc (RTP) gained 16.18 points with a high on the day of $434.00, a low of $423.25 for a closing price at $428.18; Arch Coal Incorporated (ACI) shed 3.89 points with a high on the day of $55.21, a low of $49.55 for a closing price at $50.87; Monsanto Corporation (MON) gained 1.02 points with a high on the day of $119.95, a low of $114.23 for a closing price at $115.05; Transocean, Incorporated (RIG) shed 2.27 points with a high on the day of $129.94, a low of $124.91 for a closing price at $126.01; Dycom Industries Incorporated (DY) shed 8.01 points with a high on the day of $17.85, a low of $15.00 for a closing price at $15.30; Mastercard Incorporated (MA) shed 2.11 points with a high on the day of $214.58, a low of $202.00 for a closing price at $204.00; CONSOL Energy Incorporated (CNX) shed 3.98 points with a high on the day of $81.89, a low of $75.63 for a closing price at $76.98; Las Vegas Sands Corporation (LVS) shed 0.91 points with a high on the day of $95.26, a low of $90.46 for a closing price at $91.44; NVR Incorporated (NVR) shed 12.68 points with a high on the day of $586.30, a low of $558.00 for a closing price at $563.00.

    On the NASDAQ today, advanced totaled 1,699; decliners totaled 1,300; unchanged came in at 134; new highs came in at 32 and new lows came in at 102. Momentum stocks traded by active Day Traders on the NASDAQ today: First Solar, Incorporated (FSLR) shed 14.08 points with a high on the day of $198.41, a low of $172.38 for a closing price at $175.56; SunPower Corporation (SPWR) shed 2.28 points with a high on the day of $78.01, a low of $70.33 for a closing price at $71.30; Baidu.com Incorporated (BIDU) shed 1.28 points with a high on the day of $266.27, a low of $241.32 for a closing price at $245.43; Apple Incorporated (AAPL) shed 4.59 points with a high on the day of $131.00, a low of $123.62 for a closing price at $124.86; Cbeyond, Incorporated (CBEY) gained 1.30 points with a high on the day of $29.19, a low of $26.43 for a closing price at $26.87; Cynosure, Incorporated (CYNO) shed 3.65 points with a high on the day of $26.87, a low of $21.71 for a closing price at $22.04; Google Incorporated (GOOG) shed 3.07 points with a high on the day of $530.60, a low of $513.03 for a closing price at $518.09; Zoltek Companies Incorporated (ZOLT) shed 6.69 points with a high on the day of $28.29, a low of $25.55 for a closing price at $25.94.

    President Federal Reserve Bank of San Francisco, Janet L. Yellen commented today: Reiterates Accommodative Stance is Appropriate. Largely Reiterates Speech made Last Week; U.S. Economy to Experience Slow Growth, Not Recession; Economic Prospects are `Unusually Uncertain'; Core Inflation to Moderate On U.S. Slowdown; Fed's Own Surveys Show Tightening Credit Terms; Net Exports Will Add to US Econ Growth; Clear Fed Objective to Avoid Negative Feedback in Economy; Fiscal Package May Help Economy in 2H 2008, Early 2009; Fiscal Package May Help Economy at Weakest Point; Fiscal Package Won't Have Permanent Impact on GDP; U.S. Election Year Shouldn't Affect Economy'; Fed and Others Have Plenty of Soul Searching to do; Fed Not Entirely Immune From Blame for Sub-prime Mess; Regulators Can't Resolve all Credit Market Problems; Must Remain Focused on Downside Risks to Economy; Still Sees Slower Growth Rather than Recession; Too Early to Talk About Removing Accommodative Rates; Time Will Come When Fed Has to Move on Inflation; Still Have Some Tensions in Money Markets; Money Market Tensions Mitigated, Not Absent; Fed Doesn't Want to be Perceived as Bailing Out Markets; People are Certainly Taking Losses; Fed's Focus is the Economy and Innocent Bystanders. The U.S. faces the prospect of much slower growth in 2008 but, the Federal Reserve's decision to cut interest rates should prevent a slide into recession per San Francisco Federal Reserve President Janet Yellen in prepared remarks to the San Francisco Planning and Urban Research Association. "I consider it most probable that the U.S. economy will experience slow growth, and not outright recession, in coming quarters," Remarks were largely the same as those delivered Thursday in Hawaii. Economic prospects are "unusually uncertain," Yellen said, and the economy may decline further but, the Fed's policy actions "should help to promote a pickup in growth over time." The Fed's "accommodative" stance on interest rates is "appropriate," Yellen said. To date, the Fed has slashed its target interest rate from 5.25% to 3% over the past five months, and many market watchers expect that rate to drop to 2% later this year.

    Philadelphia Fed Survey released today: Economists do not see U.S. Recession; Economists see increase by 0.7% 1Q U.S. GDP and increase by 1.3% 2Q GDP; U.S. GDP likely to Rise by 1.8% in 2008; U.S. Unemployment Rate to Rise to 5.2% by late 2008; No Further Inflation Acceleration Seen.

    Commodities Markets
    The trend was lower across the board today for the Energy Sector: Light crude moved lower today by $0.81 to close at $92.78 a barrel; Heating Oil moved lower today by $0.01 to close at $2.56 a gallon; Natural Gas moved lower today by $0.10 to close at $8.44 per million BTU and Unleaded Gas moved lower today by $0.03 to close at $2.37 a gallon.

    Metals Markets ended the session lower across the board today: Gold moved sharply lower today by $15.60 to close at $911.10 a Troy ounce; Silver moved lower today by $0.11 to close at $17.14 per Troy ounce; Platinum moved sharply lower today by $17.60 to close at $1,921.80 per Troy ounce and Copper closed with no change at $3.56 per pound.

    On the Livestock and Meat Markets, the trend was mostly lower across the board today: Lean Hogs ended the day higher by $0.80 to close at $65.88; Pork Bellies ended the day lower by $0.25 to close at $97.38; Live Cattle ended the day lower by $0.33 to close at $94.78 and Feeder Cattle ended the day lower by $0.15 at $105.75.

    Other Commodities: Corn ended the day lower by $5.75 at $497.75 and Soybeans moved lower today by $5.00 to end the session at $1,321.00.

    Bonds were mostly lower across the board today: 2 year bond moved higher by 1/32 to close at 100 13/32; 5 year bond moved lower by 5/32 to close at 100 28/32 today; 10 year bond moved lower by 10/32 to close at 98 22/32 and the 30 year bond moved lower by 28/32 to close at 98 22/32 on the day.

    The e-mini Dow ended the session today at 12,376 with a gain of 139 points on the trading session. The total Dow Exchange Volume for the day came in at 171,676 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 3,520,912; Open Interest for Futures moved lower by 3,690 points to close at 10,143,030; the Open Interest for Options moved higher by 71,241 points to close at 10,143,030 and the Cleared Only closed higher by 296 points to close at 24,814 for a total Open Interest on the day of 20,729,939 for a total Change on the day with a gain of 67,847 points.

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