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Federal Reserve

Discussion in 'Forex Daily News & Outlook' started by MTnews, Nov 25, 2008.

  1. MTnews

    MTnews Content Contributor

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    Daily Market Commentary for November 25, 2008 from Millennium-Traders.Com

    In an effort to try and ease lending constraints lenders have in place, the Federal Reserve introduced its new Term Asset-Backed Securities Loan Facility (TALF), which will lend up to $200 billion to institutions involved in the issuance of consumer and small-business debt such as credit card loans, student debt and auto loans. (read more)

    Economic data released today:

    GDP:
    U.S. 3Q GDP revised to a drop by 0.5 percentage Rate from a drop by 0.3 percent;
    US 3Q GDP Consensus fell by 0.6 percentage; 3Q Real Final Sales Revised to a drop by 1.4 percentage Rate from a drop by 0.8 percentage; 3Q PCE Price Index Revised to an increase by 5.2 percentage Rate from an increase by 5.4 percentage; 3Q Purchases Price Index Revised to an increase by 4.7 percentage Rate from an increase by 4.8 percentage; 3Q Chain-Weighted Price Index Unchanged at an increase by 4.2 percentage.

    Corporate Profits:
    3Q Corporate Profits fell 3.0 percentage versus a drop by 0.4 percentage in 2Q.

    Redbook: Redbook:
    U.S. Retail Sales fell 1.3 percent during first three weeks in November versus October, according to Redbook Research's latest indicator of national retail sales. The drop in the index was compared to a targeted 0.7 percentage drop. The Johnson Redbook Index also showed seasonally adjusted sales in the period fell 1.1 percent compared with November 2007, relative to a target of a 0.5 percentage drop. Redbook indicated that on an unadjusted basis, sales in the week ended November 22 were down 1.4 percent from the same week in 2007. Performance was mainly attributable to weak results turned in by those stores that are on calendars comparing the week to last year's Thanksgiving week, Redbook said. "Mismatches like these are expected to result in a weak November," added Redbook, "and have led retailers to recommend combining November and December sales in terms of evaluating the holiday season." Shoppers held off shopping and waited for the upcoming Black Friday and Cyber Monday deep promotions, Redbook said.

    Consumer Confidence:
    U.S. Conference Board November expectations Index came in at 46.7 versus October reading of 35.7; U.S. Conference Board November Present Situation Index came in at 42.2 versus October reading of 43.5; U.S. Conference Board November Consumer Confidence came in at 44.9 versus October reading of 38.8.

    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 36.47 points to end the trading session at 8,479.86
    NYSE (New York Stock Exchange) gain of 61.57 points to end the trading session at 5,375.33
    National Association of Securities Dealers Automated Quotations (NASDAQ) loss of 7.29 points to end the trading session at 1,464.73
    S&P 500 (SPX) gain of 5.59 points to end the trading session at 857.40
    FTSE All-World Index data excluding U.S. (AW01UK) gain of 2.22 points to end the trading session at 139.65
    FTSE RAFI 1000 gain of 52.62 points to end the trading session at 3,269.77
    BEL 20 (BEL20) gain of 20.71 points to end the trading session at 1,848.89
    CAC 40 (CAC40) gain of 37.45 points to end the trading session at 3,209.56
    FTSE100 (UKX100) gain of 18.29 points to end the trading session at 4,171.25
    NIKKEI 225 (NIK/O) - closed November 25

    New York Stock Exchange (NYSE) stock market indicators for the trading session today:
    Advanced stock prices 2,093, declined stock prices 1,094; unchanged stock prices 72; stock prices hitting new highs 4 and stock prices hitting new lows 87. 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: Analog Devices Incorporated (NYSE: ADI) stock price shed 1.22 points on the trading session, high on the trading session $19.80, low on the trading session $16.31 with a closing stock price at $16.95; Royal Bank of Canada (NYSE: RY) stock price shed 0.33 points on the trading session, high on the trading session $32.78, low on the trading session $30.22 with a closing stock price at $31.83; Direxion Financial Bear 3X (NYSE: FAZ) stock price shed 12.25 points on the trading session, high on the trading session $80.83, low on the trading session $66.05 with a closing stock price at $70.75; Billton Limited (NYSE: BHP) stock price gained 4.85 points on the trading session, high on the trading session $39.92, low on the trading session $36.55 with a closing stock price at $38.27.

    National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
    Advanced stock prices 1,557; declined stock prices 1,311; unchanged stock prices 116; stock prices hitting new highs 6 and stock prices hitting new lows 179. 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: Citi Trends Incorporated (NasdaqGS: CTRN) stock price gained 2.66 points on the trading session, high on the trading session $11.75, low on the trading session $9.36 with a closing stock price at $11.29; InterDigital Incorporated (NasdaqGS: IDCC) stock price shed 0.15 points on the trading session, high on the trading session $28.98, low on the trading session $24.76 with a closing stock price at $25.53; Intuitive Surgical Incorporated (NasdaqGS: ISRG) stock price shed 1.48 points on the trading session, high on the trading session $128.00, low on the trading session $118.85 with a closing stock price at $123.46; Baidu.com Incorporated (NasdaqGS: BIDU) stock price gained 8.61 points on the trading session, high on the trading session $128.30, low on the trading session $117.01 with a closing stock price at $123.74; Google Incorporated (NasdaqGS: GOOG) stock price gained 24.56 points on the trading session, high on the trading session $286.66, low on the trading session $267.32 with a closing stock price at $282.00.

    Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
    Advanced stock prices 305; declined stock prices 310; unchanged stock prices 73; stock prices hitting new highs 2 and stock prices hitting new lows 32.

    Chicago Board of Trade Futures Market activity for the day, at time of this posting for December 2008 Contracts:
    n/a for the day

    World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
    Euro 0.7655 to U.S. Dollars 1.3064
    Japanese Yen 95.430 to U.S. Dollars 0.0105
    British Pound 0.6452 to U.S. Dollars 1.550
    Canadian Dollar 1.2238 to U.S. Dollars 0.8171
    Swiss Franc 1.1839 to U.S. Dollars 0.8447

    COMMODITY MARKETS:
    Energy Sector - Nymex:
    Light Crude (January 09) shed $4.57 on the trading session for a closing price of $50.77 barrel ($US per barrel)
    Heating Oil (January 09) shed $0.09 on the trading session for a closing price of $1.71 a gallon ($US per gallon)
    Natural Gas (January 09) shed $0.43 on the trading session for a closing price of $6.39 per million BTU ($US per mmbtu.)
    Unleaded Gas (December 08) shed $0.05 on the trading session for a closing price of $1.09 a gallon ($US per gallon)

    Metals Markets - Comex:
    Gold (February 09) gained $0.10 on the trading session for a closing price of $820.50 ($US per Troy ounce)
    Silver (March 09) shed $0.07 on the trading session for a closing price of $10.31 ($US per Troy ounce)
    Platinum (January 09) gained $5.20 on the trading session for a closing price of $871.60 ($US per Troy ounce)
    Copper (March 09) shed $0.02 on the trading session for a closing price of $1.65 ($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 64.65
    Pork Bellies (February 09) shed 0.05 on the trading session for a closing price of 92.05
    Live Cattle (February 09) shed 0.28 on the trading session for a closing price of 87.33
    Feeder Cattle (January 09) no change on the trading session for a closing price of 91.40

    Other Commodities - Chicago Board of Trade (cents per bushel):
    Corn (March 09) shed 0.50 on the trading session for a closing price of 370.00
    Soybeans (January 09) shed 1.00 on the trading session for a closing price of 883.00

    BOND MARKET:
    2 year Bond closing price 100 6/32, +8/32, Yield 1.15, Yield change -0.05
    5 year Bond closing price of 103 15/32, +29/32, Yield 2.00, Yield change -0.19
    10 year Bond closing price 105 22/32, + 2 4/32, Yield 3.08, Yield change -0.24
    30 year Bond closing price 116 9/32, +3 19/32, Yield 3.59, Yield change -0.19

    Thanks for reading
    Millennium-Traders.Com
     
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