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Market Commentary for January 14, 2008 from Millennium-Traders.Com

Discussion in 'Forex Daily News & Outlook' started by MTnews, Jan 14, 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 gain of 171.85 points on the day to end the session at 12,778.15; the NYSE (New York Stock Exchange) posted a gain of 91.87 points to end the session at 9,439.34; the NASDAQ posted a gain of 38.36 points for a close at 2,478.30; the S&P 500 posted a gain of 15.23 points for a close at 1,416.25 and the RUSSELL 2000 moved higher by 7.83 points to close at 712.48. 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 gain of 1.99 points to close at 254.34 and the FTSE RAFI 1000 posted a gain of 49.36 points to close at 5,732.22.

    On the NYSE today, advancers came in at 2,138; decliners totaled 1,060; unchanged came in at 73; new highs came in at 60 and new lows came in at 141. Momentum stocks traded by active Day Traders on the NYSE today: International Business Machines Corporation (IBM) gained 5.26 points with a high on the day of $105.59, a low of $101.33 for a closing price at $102.93; Cleveland-Cliffs Incorporated (CLF) gained 5.43 points with a high on the day of $95.58, a low of $90.71 for a closing price at $94.77; United States Steel Corporation (X) gained 5.74 points with a high on the day of $113.10, a low of $106.95 for a closing price at $112.32; Mastercard Incorporated (MA) shed 0.95 points with a high on the day of $181.90, a low of $173.54 for a closing price at $178.22; Terra Nitrogen Company, L.P. (TNH) gained 21.33 points with a high on the day of $168.19, a low of $148.04 for a closing price at $167.06; Mosaic Corporation (MOS) gained 10.33 points with a high on the day of $110.20, a low of $101.81 for a closing price at $109.54; Harman International Industries Incorporated (HAR) shed 25.97 points with a high on the day of $50.80, a low of $42.88 for a closing price at $43.00; M&T Bank Corporation (MTB) shed 1.33 points with a high on the day of $73.53, a low of $71.01 for a closing price at $72.42 and WellCare Health Plans, Incorporated (WCG) gained 9.44 points with a high on the day of $58.73, a low of $49.55 for a closing price at $56.43.

    On the NASDAQ today, advanced totaled 1,780; decliners totaled 1,246; unchanged came in at 114; new highs came in at 31 and new lows came in at 215. Momentum stocks traded by active Day Traders on the NASDAQ today: Converted Organics Incorporated (COIN) gained 3.60 points with a high on the day of $14.14, a low of $8.79 for a closing price at $12.30; Google Incorporated (GOOG) gained 15.57 points with a high on the day of $657.40, a low of $645.25 for a closing price at $653.82; Baidu.com Incorporated (BIDU) gained 11.15 points with a high on the day of $346.36, a low of $326.24 for a closing price at $340.40; Sears Holdings Corporation (SHLD) shed 4.79 points with a high on the day of $92.28, a low of $86.04 for a closing price at $91.38; Apple Incorporated (AAPL) gained 6.09 points with a high on the day of $179.42, a low of $175.17 for a closing price at $178.78; First Solar Incorporated (FSLR) gained 3.76 points with a high on the day of $229.99, a low of $213.33 for a closing price at $224.76; Garmin Limited (GRMN) shed 1.41 points with a high on the day of $71.90, a low of $68.59 for a closing price at $69.99; FCStone Group, Incorporated (FCSX) gained 5.88 points with a high on the day of $52.50, a low of $46.30 for a closing price at $52.40; Origin Agritech Limited (SEED) shed 1.26 points with a high on the day of $12.09, a low of $9.60 for a closing price at $9.65; SunPower Corporation (SPWR) gained 1.93 points with a high on the day of $111.14, a low of $106.21 for a closing price at $110.61 and Research In Motion Limited (RIMM) gained 2.65 points with a high on the day of $97.25, a low of $93.40 for a closing price at $96.35.

    Remarks by Treasury Under Secretary David H. McCormick on China’s Journey to Environmentally Sustainable Growth at the West Coast Leadership Dialogue 2008 La Jolla, California - Thank you Phil for that warm introduction, and thank you to the Australian American Leadership Dialogue and the School of International Relations and Pacific Studies at UC San Diego for inviting me to speak with you today. Both the Leadership Dialogue and the School of International Relations arose over the final two decades of the Twentieth Century to meet the compelling need to engage the best business, scientific and, yes, even government minds, to think though the major economic issues facing the United States, Australia, and the Pacific Rim. The 2008 West Coast Leadership Dialogue is perfectly timed to fulfill this mission. The United States and Australia together face an Asia in transition. Economic dynamism has created unprecedented opportunities, but at a high cost in energy demand and related environmental damage. The challenge is especially great with respect to China. As we have in the past, we must work together to capture these opportunities and meet these challenges. Under the leadership of President George Bush and Prime Minister Kevin Rudd, we are doing so.

    Commodities Markets
    The trend was higher across the board today for the Energy Sector: Light crude moved higher today by $1.51 to close at $94.50 a barrel; Heating Oil moved higher today by $0.05 to close at $2.59 a gallon; Natural Gas moved higher today by $0.09 to close at $8.27 per million BTU and Unleaded Gas moved higher today by $0.05 to close at $2.37 a gallon.

    Metals Market ended the session higher across the board today: Gold moved higher today by $5.70 to close at $903.40 a Troy ounce; Silver moved higher today by $0.06 to close at $16.43 per Troy ounce; Platinum moved nicely higher today by $14.60 to close at $1,584.00 per Troy ounce and Copper moved higher by $0.04 today to close at $3.34 per pound.

    On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs ended the day higher by $0.88 to close at $63.13; Pork Bellies ended the day higher by $0.63 at $84.63; Live Cattle ended the day lower by $0.30 at $95.20 and Feeder Cattle ended the day lower by $1.05 at $101.45.

    Other Commodities: Corn ended the day nicely higher today by $17.00 at $512.00 and Soybeans moved lower today by $2.25 to end the session at $1,296.50.

    Bonds were mixed across the board today: 2 year bond moved lower by 1/32 to close at 101 9/32; 5 year bond moved lower by 2/32 to close at 102 19/32 today; 10 year bond moved higher by 1/32 to close at 103 26/32 and the 30 year bond moved higher by 8/32 to close at 110 13/32 on the day.

    The e-mini Dow ended the session today at 12,824 with a gain of 163 points on the trading session. The total Dow Exchange Volume for the day came in at 221,937 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 4,546,698; Open Interest for Futures moved higher by 158,245 points to close at 10,019,518; the Open Interest for Options moved higher by 274,359 points to close at 7,701,375 and the Cleared Only closed higher by 421 points to close at 21,253 for a total Open Interest on the day of 17,742,146 for a total Change on the day with a gain of 433,025 points

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