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Market Commentary for January 11, 2008 from Millennium-Traders.Com

Discussion in 'Forex Daily News & Outlook' started by MTnews, Jan 11, 2008.

  1. MTnews

    MTnews Content Contributor

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    At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a triple digit loss of 246.79 points on the day to end the session at 12,606.30; the NYSE (New York Stock Exchange) posted a triple digit loss of 143.09 points to end the session at 9,347.47; the NASDAQ posted a loss of 48.58 points for a close at 2,439.94; the S&P 500 posted a loss of 19.31 points for a close at 1,401.02 and the RUSSELL 2000 moved lower by 15.56 points to close at 704.65. The FTSE All-World Index ex-US (top Large/Mid Cap aggregate from over 2,700 stocks from the FTSE Global Equity Index Series (GEIS) which covers 90% of the world’s investable market capitalization) posted a loss of 1.55 points to close at 252.30 and the FTSE RAFI 1000 posted a loss of 77.15 points to close at 5,682.92.

    On the NYSE today, advancers came in at 1,091; decliners totaled 2,097; unchanged came in at 74; new highs came in at 37 and new lows came in at 166. Momentum stocks traded by active Day Traders on the NYSE today: Rio Tinto plc (RTP) shed 7.11 points with a high on the day of $403.70, a low of $390.69 for a closing price at $398.39; Petroleo Brasileiro (PBR) shed 2.87 points with a high on the day of $113.69, a low of $110.00 for a closing price at $111.21; American Express Company (AXP) shed 4.92 points with a high on the day of $44.87, a low of $42.90 for a closing price at $44.00; Mastercard Incorporated (MA) shed 16.82 points with a high on the day of $189.51, a low of $176.25 for a closing price at $179.17; Mechel Open Joint Stock Company (MTL) gained 0.68 points with a high on the day of $96.70, a low of $90.00 for a closing price at $94.34; IHS Inc (IHS) gained 2.18 points with a high on the day of $63.68, a low of $59.02 for a closing price at $60.00; Chipotle Mexican Grill, Incorporated (CMG) shed 6.40 points with a high on the day of $124.79, a low of $113.50 for a closing price at $116.70; AllianceBernstein Holding L.P. (AB) shed 7.31 points with a high on the day of $72.40, a low of $66.11 for a closing price at $69.70; CME Group Incorporated (CME) gained 5.97 points with a high on the day of $621.99, a low of $599.50 for a closing price at $617.67; InterContinental Exchange, Incorporated (ICE) shed 0.36 points with a high on the day of $175.64, a low of $168.58 for a closing price at $173.12; iShares FTSE/Xinhua China 25 Index (FXI) shed 7.75 points with a high on the day of $174.28, a low of $170.00 for a closing price at $170.00; Bank of America Corporation (BAC) shed 0.80 points with a high on the day of $39.78, a low of $37.16 for a closing price at $38.50; Mosaic Corporation (MOS) gained 5.68 points with a high on the day of $99.96, a low of $92.42 for a closing price at $99.21; Alliance Data Systems Corporation (ADS) shed 4.25 points with a high on the day of $74.53, a low of $64.40 for a closing price at $68.25; Tiffany & Company (TIF) shed 4.52 points with a high on the day of $37.95, a low of $34.65 for a closing price at $35.80; Potash Corp. of Saskatchewan, Incorporated (POT) gained 3.47 points with a high on the day of $139.95, a low of $132.85 for a closing price at $138.75; Goldman Sachs Group Incorporated (GS) gained 1.83 points with a high on the day of $200.68, a low of $194.57 for a closing price at $198.74; MEMC Electronic Materials Incorporated (WFR) shed 4.65 points with a high on the day of $76.20, a low of $70.76 for a closing price at $71.75; Procter & Gamble Corporation (PG) shed 2.30 points with a high on the day of $72.30, a low of $70.01 for a closing price at $70.18; Danaher Corporation (DHR) shed 2.87 points with a high on the day of $82.79, a low of $79.21 for a closing price at $79.71; Suntech Power Holdings Corporation Ltd (STP) shed 0.64 points with a high on the day of $69.50, a low of $64.55 for a closing price at $66.81; Standard Pacific Corporation (SPF) shed 0.47 points with a high on the day of $2.65, a low of $1.47 for a closing price at $2.20.

    On the NASDAQ today, advanced totaled 873; decliners totaled 2,146; unchanged came in at 111; new highs came in at 29 and new lows came in at 286. Momentum stocks traded by active Day Traders on the NASDAQ today: Cadence Pharmaceuticals Incorporated (CADX) shed 8.36 points with a high on the day of $7.33, a low of $5.01 for a closing price at $5.36; Solarfun Power Holdings Corporation Limited (SOLF) shed 2.42 points with a high on the day of $28.91, a low of $25.07 for a closing price at $25.20; Juniper Networks, Incorporated (JNPR) shed 4.07 points with a high on the day of $27.43, a low of $25.77 for a closing price at $26.60; Baidu.com Incorporated (BIDU) shed 10.29 points with a high on the day of $337.00, a low of $325.00 for a closing price at $329.25; JA Solar Holdings Corporation Limited (JASO) gained 5.13 points with a high on the day of $73.69, a low of $68.14 for a closing price at $72.98; First Solar Incorporated (FSLR) shed 4.97 points with a high on the day of $231.93, a low of $215.83 for a closing price at $221.00; Illumina Incorporated (ILMN) gained 0.49 points with a high on the day of $73.74, a low of $69.51 for a closing price at $70.51; Cognizant Technology Solutions Corporation (CTSH) shed 2.87 points with a high on the day of $29.36, a low of $27.07 for a closing price at $27.11; Career Education Corporation (CECO) shed 2.30 points with a high on the day of $22.15, a low of $18.99 for a closing price at $20.08; Pharmaceutical Product Development Incorporated (PPDI) gained 1.57 points with a high on the day of $47.91, a low of $45.74 for a closing price at $47.71; Google Incorporated (GOOG) shed 8.48 points with a high on the day of $649.47, a low of $630.11 for a closing price at $638.25; Garmin Limited (GRMN) shed 6.60 points with a high on the day of $78.45, a low of $70.73 for a closing price at $71.40; Deckers Outdoor Corporation (DECK) shed 16.72 points with a high on the day of $145.21, a low of $129.75 for a closing price at $129.76; Priceline.com Incorporated (PCLN) shed 6.54 points with a high on the day of $104.70, a low of $94.16 for a closing price at $96.24; Research In Motion Limited (RIMM) shed 6.96 points with a high on the day of $98.84, a low of $92.26 for a closing price at $93.70.

    U.S. December Import Prices remained unchanged compared to consensus of an increase by 0.3%; U.S. December Non-Petroleum Import Prices rose 0.3%; U.S. December Petroleum Import Prices fell 0.6%; U.S. Import Prices From China rose 2.4% in 2007 as a Record Increase; U.S. November Trade Deficit came in at $63.12 Billion compare to consensus of a deficit at $59.75 Billion; November Exports rose by 0.4% to $142.31 Billion; November Imports rose by 3.0% to $205.43 Billion and October Trade Balance revised to $57.77 Billion Deficit from $57.82 Billion Deficit.

    Commodities Markets The trend was lower across the board today for the Energy Sector: Light crude moved lower today by $1.02 to close at $92.80 a barrel; Heating Oil moved lower today by $0.02 to close at $2.54 a gallon; Natural Gas moved lower today by $0.01 to close at $8.18 per million BTU and Unleaded Gas moved lower today by $0.04 to close at $2.32 a gallon.

    Metals Market ended the session higher across the board today: Gold moved higher today by $4.90 to close at $893.60 a Troy ounce; Silver moved higher today by $0.10 to close at $16.37 per Troy ounce; Platinum moved higher today by $5.70 to close at $1,569.40 per Troy ounce and Copper moved higher by $0.02 today to close at $3.30 per pound.

    On the Livestock and Meat Markets, the trend was lower across the board today: Lean Hogs ended the day lower by $1.53 to close at $54.00; Pork Bellies ended the day lower by $0.40 at $84.00; Live Cattle ended the day lower by $0.08 at $93.20 and Feeder Cattle ended the day higher by $1.38 at $104.78.

    Other Commodities: Corn ended the day nicely higher today by $20.00 at $495.00 and Soybeans moved nicely higher today by $35.50 to end the session at $1298.75.

    Bonds were mostly lower across the board today: 2 year bond moved by 3/32 to close at 101 2/32; 5 year bond moved lower by 1/32 to close at 102 6/32 today; 10 year bond moved lower by 14/32 to close at 103 and the 30 year bond moved lower by 1 18/32 to close at 109 5/32 on the day.

    The e-mini Dow ended the session today at 12,850 with a gain of 105 points on the trading session. The total Dow Exchange Volume for the day came in at 251,022 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 4,264,409; Open Interest for Futures moved higher by 5,027 points to close at 9,710,624; the Open Interest for Options moved higher by 200,901 points to close at 7,225,579 and the Cleared Only closed higher by 154 points to close at 20,500 for a total Open Interest on the day of 16,956,703 for a total Change on the day with a gain of 206,082 points.

    Be sure to review our archived Daily Market Commentary's along with our FREE Monthly Training Lesson posted on our website.

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