1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Crude Oil Prices

Discussion in 'Forex Daily News & Outlook' started by MTnews, Jun 6, 2008.

  1. MTnews

    MTnews Content Contributor

    Joined:
    Dec 17, 2007
    Messages:
    810
    Likes Received:
    0
    Daily Market Commentary for June 6, 2008 from Millennium-Traders.Com

    Trading volume was heavy amidst the sell off and with the rapid gains on Crude, we saw curbs setting in on the Crude Oil Futures market. Adding fuel to the pain, Crude Oil surged on the day with a gain of almost eleven points to hit an all time new record high of more than $138 a barrel. (read more)

    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 394.64 points on the day to end the session at 12,209.81
    NYSE (New York Stock Exchange) triple digit loss of 255.98 points to end the session at 9,152.51
    NASDAQ loss of 75.38 points for a close at 2,474.56
    S&P 500 loss of 43.37 points for a close at 1,360.68
    FTSE All-World ex-U.S. loss of 3.41 points to close at 248.58
    FTSE RAFI 1000 triple digit loss of 182.12 points for a close at 5,409.74
    BEL 20 loss of 82.2 points to close at 3,672.84
    CAC 40 triple digit loss of 111.74 points to close at 4,795.32
    FTSE100 loss of 88.5 points to close at 5,906.8
    NIKKEI 225 triple digit gain of 148.3 points to close at 14,489.4

    News on the New York Stock Exchange (NYSE) today: advanced stocks 576; declined stocks 2,595; unchanged stocks 70; stocks hitting new highs 129; stocks hitting new lows 118. Daily Trading Range and end of day trading results for volatile stocks on the NYSE traded by active Day Traders today: Oil Service HOLDRs (NYSE: OIH) shed 2.84 points on the trading day, high on the trading day $221.05, low on the trading day $211.71 for a closing price at $212.02; Goldman Sachs Group Incorporated (NYSE: GS) shed 7.16 points on the trading day, high on the trading day $175.07, low on the trading day $169.4 for a closing price at $169.44; Patriot Coal Corporation (NYSE: PCX) gained 0.69 points on the trading day, high on the trading day $143.53, low on the trading day $135.46 for a closing price at $135.46; Rio Tinto plc (NYSE: RTP) shed 7.39 points on the trading day, high on the trading day $481.23, low on the trading day $465.04 for a closing price at $467.78; Valero Energy Corporation (NYSE: VLO) shed 3.31 points on the trading day, high on the trading day $49.33, low on the trading day $46.20 for a closing price at $46.33; Trina Solar Limited American Depository (NYSE: TSL) shed 4.63 points on the trading day, high on the trading day $48.00, low on the trading day $44.67 for a closing price at $45.00; CF Industries Holdings Incorporated (NYSE: CF) shed 5.47 points on the trading day, high on the trading day $153.72, low on the trading day $146.07 for a closing price at $146.67; CME Group, Incorporated (NYSE: CME) shed 14.94 points on the trading day, high on the trading day $401.82 for a closing price at $387.60; Mosaic Company (NYSE: MOS) shed 1.06 points on the trading day, high on the trading day $137.97, low on the trading day $132.81 for a closing price at $133.36.

    News on the NASDAQ today: advanced stocks 540 declined stocks 2,332; unchanged stocks 122; stocks hitting new highs 43; stocks hitting new lows 119. Trading range and end of day trading results for volatile NASDAQ stocks traded by active Day Traders today: Inspire Pharmaceuticals Incorporated (NasdaqGS: ISPH) gained 1.42 points on the trading day, high on the trading day $6.75, low on the trading day $5.07 for a closing price at $5.27; Ryanair Holdings plc (NasdaqGS: RYAAY) shed 3.01 points on the trading day, high on the trading day $29.81, low on the trading day $28.75 for a closing price at $28.82; Energy Conversion Devices Incorporated (NasdaqGS: ENER) shed 1.13 points on the trading day, high on the trading day $68.00, low on the trading day $64.09 for a closing price at $64.17; BE Aerospace Incorporated (NasdaqGS: BEAV) shed 2.84 points on the trading day, high on the trading day $29.54, low on the trading day $26.00 for a closing price at $26.98; Macrovision Solutions Corporation (NasdaqGS: MVSN) gained 1.19 points on the trading day, high on the trading day $17.34, low on the trading day $15.22 for a closing price at $16.30; Sanderson Farms Incorporated (NasdaqGS: SAFM) shed 3.56 points on the trading day, high on the trading day $48.60, low on the trading day $45.70 for a closing price at $46.31; Sohu.com Incorporated (NasdaqGS: SOHU) shed 7.98 points on the trading day, high on the trading day $89.97, low on the trading day $83.18 for a closing price at $83.28; Calamos Asset Management Incorporated (NasdaqGS: CLMS) shed 3.94 points on the trading day, high on the trading day $21.60 low on the trading day $18.94 for a closing price at $19.06; Google Incorporated (NasdaqGS: GOOG) shed 18.30 points on the trading day, high on the trading day $580.72, low on the trading day $567.00 for a closing price at $568.00; Focus Media Holding Limited (NasdaqGS: FMCN) shed 5.70 points on the trading day, high on the trading day $34.17, low on the trading day $31.00 for a closing price at $31.09; First Solar, Incorporated (NasdaqGS: FSLR) shed 5.00 points on the trading day, high on the trading day $262.77, low on the trading day $251.00 for a closing price at $251.00; Baidu.com Incorporated (NasdaqGS: BIDU) shed 16.62 points on the trading day, high on the trading day $358.00, low on the trading day $344.55 for a closing price at $345.19.

    News on the American Stock Exchange (AMEX) today: advanced stocks 412; declined stocks 773; unchanged stocks 63; stocks hitting new highs 40; stocks hitting new lows 21.

    U.S. May Nonfarm Payrolls fell by 49K compared to consensus of a drop by 60K; U.S. May Unemployment Rate came in at 5.5% compared to consensus of 5.1%; U.S. May Average Hourly Earnings increased by $0.05 to $17.94; U.S. May Manufacturing Payrolls fell 26K; U.S. May Service-Producing Payrolls increased by 8K; U.S. May Overall Workweek had no change at 33.7 Hours; U.S. April Payrolls Revised to a decrease by 28K from a decrease by 20K; U.S. April Unemployment left Unrevised at 5.0%; U.S. Jobless Rate Posts Biggest One-Month Rise since 1986.

    Federal Reserve Member Randall S. Kroszner: risk premiums in bond, stock markets still wide; data show investors still cautious; financial companies should continue to raise capital; foreclosures still `urgent` problem for the Fed; sees housing markets recovering `only gradually`; credit conditions still tight; financial market strains have eased `somewhat`.

    Commodities Markets
    Energy Sector: Light Crude (NYM) gained $10.75 on the day to close at $138.54 a barrel ($US per bbl.); Heating Oil (NYM) gained $0.29 on the day to close at $3.97 a gallon ($US per gal.); Natural Gas (NYM) gained $0.13 on the day to close at $12.65 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) gained $0.21 on the day to close at $3.55 a gallon ($US per gal.).

    Metals Markets: Gold (CMX) gained $23.50 to close at $899.00 ($US per Troy oz.); Silver (CMX) gained $0.26 to close at $17.43 ($US per Troy oz.); Platinum (NYM) gained $68.80 on the day to close at $2,081.30 ($US per Troy oz.) and Copper (CMX) gained $0.08 on the day to close at $3.62 ($US per lb.).

    Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) shed 1.50 to close at 74.00; Pork Bellies (CME) gained 1.70 to close at 73.20; Live Cattle (CME) shed 0.80 to close at 100.20; Feeder Cattle (CME) shed 0.58 to close at 112.25.

    Other Commodities (cents per bu.): Corn (CBT) gained 7.00 to close the session at 677.75 and Soybeans (CBT) gained 5.50 to close session at 1,457.50.

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

    Stocks Trading Room:
    Jeannie: $6,176
    Barry: $10,661
    Marty: $5,008
    Sam: $4,952

    Futures Trading Room:
    JT: $5,760

    Forex Trading Room:
    JT: $19,700

    Daily Swing Trades:
    Barry: $4,130

    Weekly Swing Trades:
    Jeannie: $2,140

    Bond action for the day: 2 year bond gained 7/32 on the day to close at 100 14/32 with a Yield of 2.39, Yield Change -0.10; 5 year bond gained 20/32 to close at 101 13/32 with a Yield of 3.19, Yield Change -0.13; 10 year bond gained 28/32 to close at 99 17/32 with a Yield of 3.93, Yield Change -0.11; the 30 year bond gained 1 17/32 to close at 95 24/32 on the day with a Yield of 4.63, Yield Change -0.10.

    The e-mini Dow $5 ended the commodity session today at 12,230 with a loss of 388 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 Market Report from Millennium-Traders, free access to visitors on our website.

    Subscribe to our free Weekly MarketNews for a review of the past weeks trading action plus, view upcoming economic data for the week ahead.

    Review archives of the News & Commentary plus, our FREE Monthly Trading Lesson posted on our website.

    Thanks for reading
    Millennium-Traders.Com
     
Loading...

Share This Page