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Fed Cuts Rate

Discussion in 'Forex Daily News & Outlook' started by MTnews, Oct 29, 2008.

  1. MTnews

    MTnews Content Contributor

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    Daily Market Commentary for October 29, 2008 from Millennium-Traders.Com

    Fed Cuts Discount Rate 0.50 point to 1.25 percent; Fed Cuts Fed Funds Rate 0.50 point to 1.00 percent; (read more)

    Economic data released today:

    Durable Goods Orders:
    September Durable Goods Orders, excluding Transportation fell 1.1 percent; September Durable Goods Orders excluding Defense fell 0.6 percent; August Durable Goods Orders revised to a drop by 5.5 percent from a drop by 4.8 percent; U.S. September Durable Goods Orders rose 0.8 percent compared to consensus of a drop by 1.1 percent.

    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 session on the world market as well as the emerging markets including the stock market closing bell price:
    DOW (Dow Jones Industrial Average) loss of 77.26 points on the day to end the trading session at 8,987.86
    NYSE (New York Stock Exchange) gain of 41.45 points to end the trading session at 5,774.90
    National Association of Securities Dealers Automated Quotations (NASDAQ) gain of 7.74 points to end the trading session at 1,657.21
    S&P 500 loss of 10.42 points to end the trading session at 930.09
    FTSE All-World excluding U.S. gain of 5.15 points to end the trading session at 147.91
    FTSE RAFI 1000 loss of 54.12 points to end the trading session at 3,586.96
    BEL 20 (BEL20) triple digit gain of 124.51 points to end the trading session at 2,022.86
    CAC 40 (CAC40) triple digit gain of 287.65 points to end the trading session at 3,402.57
    FTSE100 (UKX100) triple digit gain of 316.16 points to end the trading session at 4,242.54
    NIKKEI 225 (NIK/O) triple digit gain of 589.98 points to end the trading session at 8,211.90

    New York Stock Exchange (NYSE) stock market indicators for the day:
    Advanced stock prices 2,318, declined stock prices 871; unchanged stock prices 79; stock prices hitting new highs 5 and stock prices hitting new lows 80. 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: Transocean Incorporated (NYSE: RIG) stock price gained 6.20 points on the trading session, high on the trading session $77.89, low on the trading session $67.00 with a closing stock price at $72.79; Ultrashort Financial ProShares Corporation (NYSE: SKF) stock price gained 8.33 points on the trading session, high on the trading session $145.00, low on the trading session $126.49 with a closing stock price at $144.33; Potash Corporation Saskatchewan (NYSE: POT) stock price gained 9.53 points on the trading session, high on the trading session $82.94, low on the trading session $70.61 with a closing stock price at $79.21; Goldman Sachs Group Incorporated (NYSE: GS) stock price gained 4.23 points on the trading session, high on the trading session $102.71, low on the trading session $88.66 with a closing stock price at $97.80; Rio Tinto (NYSE: RTP) stock price gained 18.09 points on the trading session, high on the trading session $179.42, low on the trading session $159.65 with a closing stock price at $175.81; CME Group Incorporated (NYSE: CME) stock price shed 1.64 points on the trading session, high on the trading session $281.30, low on the trading session $248.10 with a closing stock price at $262.00; Apache Corporation (NYSE: APA) stock price gained 2.68 points on the trading session, high on the trading session $78.87, low on the trading session $72.00 with a closing stock price at $74.63; Devon Energy (NYSE: DVN) stock price gained 1.55 points on the trading session, high on the trading session $76.38, low on the trading session $71.10 with a closing stock price at $71.78; Proshares Ultrashort (NYSE: EEV) stock price shed 5.00 points on the trading session, high on the trading session $125.66, low on the trading session $102.00 with a closing stock price at $112.00.

    National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
    Advanced stock prices 2,012; declined stock prices 897; unchanged stock prices 85; stock prices hitting new highs 1; stock prices hitting new lows 200. 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: Cephalon Incorporated (NasdaqGS: CEPH) stock price gained 0.37 points on the trading session, high on the trading session $69.99, low on the trading session $67.99 with a closing stock price at $68.67; Apollo Group Incorporated (NasdaqGS: APOL) stock price gained 5.63 points on the trading session, high on the trading session $70.58, low on the trading session $63.61 with a closing stock price at $64.50; Digital River Incorporated (NasdaqGS: DRIV) stock price shed 1.91 points on the trading session, high on the trading session $24.18, low on the trading session $21.50 with a closing stock price at $23.24; VistaPrint Limited (NasdaqGS: VPRT) stock price shed 6.92 points on the trading session, high on the trading session $18.75, low on the trading session $16.00 with a closing stock price at $17.30; Apple Incorporated (NasdaqGS: AAPL) stock price gained 4.91 points on the trading session, high on the trading session $109.54, low on the trading session $99.94 with a closing stock price at $104.87; First Solar Incorporated (NasdaqGS: FSLR) stock price shed 4.08 points on the trading session, high on the trading session $131.58, low on the trading session $111.80 with a closing stock price at $110.01; Baidu.com Incorporated (NasdaqGS: BIDU) stock price gained 1.16 points on the trading session, high on the trading session $223.78 low on the trading session $203.04 with a closing stock price at $210.11; Google, Incorporated (NasdaqGS: GOOG) stock price shed 12.54 points on the trading session, high on the trading session $371.00, low on the trading session $352.37 with a closing stock price at $356.21.

    Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
    Advanced stock prices 812; declined stock prices 346; unchanged stock prices 63; stock prices hitting new highs 4 and stock prices hitting new lows 58.

    Chicago Board of Trade Futures Market activity for the day, at time of this posting for December 2008 Contracts:
    E-mini S&P 500 (ES) end of day price 927.50 change -11.25
    E-mini NASDAQ-100 (NQ) end of day price 1,292.00 change -16.00
    E-mini S&P SmallCap 600 (SMP) end of day price 262.50 change 3.80
    $5 DJIA (YM) end of day price 8,866 change -223

    World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
    Euro 0.7735 to U.S. Dollars 1.2929
    Japanese Yen 97.26 to U.S. Dollars 0.0103
    British Pound 0.6118 to U.S. Dollars 1.6344
    Canadian Dollar 1.2264 to U.S. Dollars 0.8154
    Swiss Franc 1.1329 to U.S. Dollars 0.8827

    Commodity Markets:
    Energy Sector: Light Crude (NYMEX: NYM) gained $4.77 on the day for a closing price of $67.50 a barrel ($US per barrel)
    Heating Oil (NYMEX: NYM) gained $0.09 on the day for a closing price of $2.03 a gallon ($US per gallon)
    Natural Gas (NYMEX: NYM) gained $0.36 on the day for a closing price of $7.06 per million BTU ($US per mmbtu.)
    Unleaded Gas (NYMEX: NYM) gained $0.08 on the day for a closing price of $1.53 a gallon ($US per gallon)

    Metals Markets:
    Gold Market Price (COMEX: CMX) gained $13.50 on the day for a closing price of $754.00 ($US per Troy ounce)
    Silver (COMEX: CMX) gained $1.02 on the day for a closing price of $9.81 ($US per Troy ounce)
    Platinum (NYMEX: NYM) gained $7.80 on the day for a closing price of $816.60 ($US per Troy ounce)
    Copper (COMEX: CMX) gained $0.23 on the day for a closing price of $2.09 ($US per pound)

    Livestock and Meat Markets (cents per lb.):
    Lean Hogs (Chicago Mercantile Exchange: CME) shed 0.48 on the day for a closing price of 57.58
    Pork Bellies (Chicago Mercantile Exchange: CME) gained 0.58 on the day for a closing price of 87.38
    Live Cattle (Chicago Mercantile Exchange: CME) gained 2.13 on the day for a closing price of 91.00
    Feeder Cattle (Chicago Mercantile Exchange: CME) gained 1.80 on the day for a closing price of 95.90

    Other Commodities (cents per bushel):
    Corn (Chicago Board of Trade: CBT) gained 30.00 on the day for a closing price of 420.75
    Soybeans (Chicago Board of Trade: CBT) gained 59.00 on the day for a closing price of 947.00

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