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Constitution

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

  1. MTnews

    MTnews Content Contributor

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    Daily Market Commentary for December 12, 2008 from Millennium-Traders.Com

    In all actuality, the Constitution of the United States prevents the Government from deciding which business should be bailed out and which should not. (read more)

    Economic data released today:

    Producer Price Index (PPI):
    U.S. November Producer Prices fell 2.2% compared to consensus of a drop by 2.3%; U.S. November PPI Excluding-Food & Energy rose 0.1% compared to consensus of an increase by 0.1%; U.S. November PPI Intermediate Goods fell 4.3%; U.S. November PPI Intermediate Goods Core fell 2.3%; U.S. November PPI Crude Goods fell 12.5%; U.S. November PPI Crude Goods Core fell 20.4%; U.S. November PPI Energy Prices fell 11.2%; U.S. October PPI Unrevised at a drop by 2.8%; U.S. Gasoline PPI Down Record 25.7%.

    Retail Sales:
    U.S. November Passenger Car Prices fell 0.6%; U.S. November Retail & Food Sales fell 1.8% compared to consensus of a drop by 2.2%; U.S. November Retail & Food Sales Excluding-Autos fell 1.6%; U.S. October Retail & Food Sales Revised to a drop by 2.9% from a drop by 2.8%.

    Business Inventories:
    U.S. October Business Inventories fell 0.6%, was expected to fall 0.3%.

    Consumer Sentiment:
    University of Michigan Mid-December Sentiment came in at 59.1 as compared to reading in November 55.3; University of Michigan Mid-December Current Index came in at 69.4 as compared to reading in November 57.5; University of Michigan Mid-December Expectations 52.4 as compared to reading in November 53.9; University of Michigan 12-Month Inflation Forecast rose by 1.7% as compared to November with an increase by 2.9%; University of Michigan 5-Year Inflation Forecast rose by 2.7% s compared to November with an increase by 2.9%.

    Companies in the news today:
    Bank of America announced late yesterday they intend to cut up to 35,000 jobs over the next three years.

    At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the trading session on the world markets as well as the emerging markets including the stock market closing bell price:
    DOW (Dow Jones Industrial Average) gain of 63.80 points to end the trading session at 8,628.89
    NYSE (New York Stock Exchange) gain of 39.23 points to end the trading session at 5,543.96
    National Association of Securities Dealers Automated Quotations (NASDAQ) gain of 32.84 points to end the trading session at 1,540.72
    S&P 500 (SPX) loss of 6.14 points to end the trading session at 879.73
    FTSE All-World Index data excluding U.S. (AW01UK) loss of 1.35 points to end the trading session at 143.78
    FTSE RAFI 1000 gain of 36.95 points to end the trading session at 3,380.29
    BEL 20 (BEL20) loss of 24.86 points to end the trading session at 1,854.84
    CAC 40 (CAC40) loss of 92.53 points to end the trading session at 3,213.60
    FTSE100 (UKX100) triple digit loss of 108.34 points to end the trading session at 4,28.35
    NIKKEI 225 (NIK/O) triple digit loss of 484.68 points to end the trading session at 8,235.87

    New York Stock Exchange (NYSE) stock market indicators for the trading session today:
    Advanced stock prices 1,871, declined stock prices 1,259; unchanged stock prices 83; stock prices hitting new highs 3 and stock prices hitting new lows 108. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Esterline Technologies Corporation (NYSE: ESL) stock price gained 4.61 points on the trading session, high on the trading session $37.20, low on the trading session $32.99 with a closing stock price at $36.61; Waters Corporation (NYSE: WAT) stock price shed 4.67 points on the trading session, high on the trading session $37.40, low on the trading session $32.21 with a closing stock price at $37.21.

    National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
    Advanced stock prices 1,915 declined stock prices 946; unchanged stock prices 128; stock prices hitting new highs 3 and stock prices hitting new lows 110. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: First Solar Incorporated (NasdaqGS: FSLR) stock price shed 0.99 points on the trading session, high on the trading session $120.35, low on the trading session $110.99 with a closing stock price at $116.58.

    Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
    Advanced stock prices 294; declined stock prices 323; unchanged stock prices 61; stock prices hitting new highs 3 and stock prices hitting new lows 37.

    Chicago Board of Trade Futures Market activity for the day, at time of this posting for March 2009 Contracts and December 2008 Contracts for E-mini S&P Small Cap 600:
    E-mini S&P 500 (ES): End of trading session price 885.25; Change for the trading session 10.75
    E-mini NASDAQ-100 (NQ): End of trading session price 1,214.75; Change for the trading session 24.75
    E-mini DOW $5 (YM): End of trading session price 8,662; Change for the trading session 92
    E-mini S&P MidCap 400 (MF): End of trading session price 511.80; Change for the trading session 19.10
    E-mini S&P Small Cap 600 (HS): End of trading session price 252.50; Change for the trading session 10.10

    World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
    Euro 0.7479 to U.S. Dollars 1.3371
    Japanese Yen 91.1100 to U.S. Dollars 0.0110
    British Pound 0.6680 to U.S. Dollars 1.4969
    Canadian Dollar 1.2490 to U.S. Dollars 0.8006
    Swiss Franc 1.1770 to U.S. Dollars 0.8496

    COMMODITY MARKETS:

    Energy Sector - Nymex:
    Light Crude (January 09) shed $1.70 on the trading session for a closing price of $46.28 per barrel ($US per barrel)
    Heating Oil (January 09) shed $0.02 on the trading session for a closing price of $1.52 a gallon ($US per gallon)
    Natural Gas (January 09) shed $0.16 on the trading session for a closing price of $5.55 per million BTU ($US per mmbtu.)
    Unleaded Gas (December 08) no change on the trading session for a closing price of $1.08 a gallon ($US per gallon)

    Metals Markets - Comex:
    Gold (February 09) shed $6.10 on the trading session for a closing price of $820.50 ($US per Troy ounce)
    Silver (March 09) shed $0.20 on the trading session for a closing price of $10.23 ($US per Troy ounce)
    Platinum (January 09) shed $23.40 on the trading session for a closing price of $822.10 ($US per Troy ounce)
    Copper (March 09) shed $0.08 on the trading session for a closing price of $1.43 ($US per pound)

    Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
    Lean Hogs (October 09) shed 0.10 on the trading session for a closing price of 62.28
    Pork Bellies (February 09) shed 1.23 on the trading session for a closing price of 81.20
    Live Cattle (February 09) shed 1.03 on the trading session for a closing price of 82.80
    Feeder Cattle (January 09) shed 0.88 on the trading session for a closing price of 86.45

    Other Commodities - Chicago Board of Trade (cents per bushel):
    Corn (March 09) gained 22.00 on the trading session for a closing price of 373.50
    Soybeans (January 09) shed 4.25 on the trading session for a closing price of 856.25

    BOND MARKET:
    2 year Bond closing price 100 30/32, change 2/32, Yield 0.76, Yield change 0.02
    5 year Bond closing price of 102 7/32, change 2/32, Yield 1.52, Yield change 0.02
    10 year Bond closing price 110 2/32, change 23/32, Yield 2.59, Yield change -0.01
    30 year Bond closing price 127 25/32, change 1/32, Yield 3.05, Yield change -0.01

    At the close of the week, performance results for our Moderators:

    Stocks Trading Room:
    Jeannie $6,435
    Barry $6,527
    Sam $5,515
    Scott $1,507

    Futures Trading Room:
    JT $4,475
    James $1,250

    Forex Trading Room:
    JT $17,450

    Daily Swing Trades:
    Barry $3790

    Thanks for reading
    Millennium-Traders.Com
     

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