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Market Commentary for January 7, 2008 from Millennium-Traders.Com

Discussion in 'Forex Daily News & Outlook' started by MTnews, Jan 7, 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 gain of 27.31 points on the day to end the session at 12,827.49; the NYSE (New York Stock Exchange) posted a gain of 30.21 points to end the session at 9,462.24; the NASDAQ posted a loss of 5.19 points for a close at 2,499.46; the S&P 500 posted a gain of 4.55 points for a close at 1,416.18 and the RUSSELL 2000 moved higher by 2.35 points to close at 723.95. 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 1.30 points to close at 255.14 and the FTSE RAFI 1000 posted a gain of 21.52 points to close at 5,747.01.

    On the NYSE today, advancers came in at 1,771; decliners totaled 1,407; unchanged came in at 89; new highs came in at 41 and new lows came in at 363.
    Momentum stocks traded by active day traders on the NYSE today: MedcoHealth Solutions Incorporated (MHS) gained 1.88 points with a high on the day of $109.25, a low of $106.91 for a closing price at $107.94; VMware Incorporated (VMW) shed 7.50 points with a high on the day of $81.64, a low of $71.66 for a closing price at $72.99; Goldman Sachs Group Incorporated (GS) shed 5.20 points with a high on the day of $200.25, a low of $189.99 for a closing price at $194.73; Mastercard Incorporated (MA) shed 0.68 points with a high on the day of $201.99, a low of $187.44 for a closing price at $200.51; Fluor Corporation (FLR) shed 5.35 points with a high on the day of $149.87, a low of $135.91 for a closing price at $138.91; Entergy Corporation (ETR) gained 4.67 points with a high on the day of $123.54, a low of $119.30 for a closing price at $123.37 and Precision Castparts Corporation (PCP) shed 7.29 points with a high on the day of $137.54, a low of $127.35 for a closing price at $128.44.

    On the NASDAQ today, advanced totaled 1,417; decliners totaled 1,604; unchanged came in at 109; new highs came in at 28 and new lows came in at 372.
    Momentum stocks on the NASDAQ today: Baidu.com Incorporated (BIDU) shed 16.69 points with a high on the day of $363.95, a low of $335.00 for a closing price at $344.31; Intuitive Surgical Inc (ISRG) shed 5.02 points with a high on the day of $312.67, a low of $296.45 for a closing price at $299.98; Research In Motion Limited (RIMM) shed 3.52 points with a high on the day of $104.97, a low of $95.76 for a closing price at $99.83; Akeena Solar Incorporated (AKNS) shed 0.96 points with a high on the day of $16.80, a low of $13.38 for a closing price at $14.04; Apple Incorporated (AAPL) shed 2.41 points with a high on the day of $183.60, a low of $170.23 for a closing price at $177.64; Schnitzer Steel Industries Incorporated (SCHN) shed 1.85 points with a high on the day of $63.08, a low of $58.19 for a closing price at $61.80; ShoreTel Incorporated(SHOR) shed 7.06 points with a high on the day of $8.77, a low of $5.73 for a closing price at $6.02; InterMune Incorporated (ITMN) gained 5.05 points with a high on the day of $18.54, a low of $14.00 for a closing price at $18.43; Express Scripts Incorporated (ESRX) gained 4.06 points with a high on the day of $77.96, a low of $74.00 for a closing price at $77.58; Healthways Incorporated (HWAY) gained 6.03 points with a high on the day of $65.24, a low of $60.31 for a closing price at $64.50; CROCS Incorporated (CROX) shed 4.61 points with a high on the day of $32.96, a low of $27.03 for a closing price at $28.14; Solarfun Power Holdings Company Limited(SOLF) shed 5.86 points with a high on the day of $38.95, a low of $30.65 for a closing price at $31.78; NII Holdings Incorporated (NIHD) gained 4.45 points with a high on the day of $51.45, a low of $48.09 for a closing price at $51.07; Foster Wheeler Limited (FWLT) shed 9.75 points with a high on the day of $161.63, a low of $147.10 for a closing price at $149.94 and First Solar Incorporated (FSLR) shed 8.74 points with a high on the day of $254.70 a low of $223.00 for a closing price at $236.54.

    Remarks by Treasury Secretary Henry M. Paulson, Jr. on Housing and Capital Markets before the New York Society of Securities Analysts: New York City, NY - Good afternoon. I will provide an update on the U.S. housing and capital markets and, at the beginning of this new year, an outlook for the U.S. economy. As I have said for some time, the housing and credit disruptions have slowed our economic growth, and the housing downturn remains the greatest risk to our economy. Yet, the U.S. economy remains diverse and resilient, even as it works through these current challenges.

    Commodities Markets
    The trend was mostly lower across the board today for the Energy Sector: Light crude moved lower today by $2.82 to close at $95.09 a barrel; Heating Oil moved lower today by $0.09 to close at $2.59 a gallon; Natural Gas moved higher today by $0.07 to close at $7.89 per million BTU and Unleaded Gas moved lower today by $0.08 to close at $2.43 a gallon.

    Metals Market ended the session lower across the board today: Gold moved lower today by $3.70 to close at $862.00 a Troy ounce; Silver moved lower today by $0.17 to close at $15.29 per Troy ounce; Platinum moved sharply lower today by $16.00 to close at $1,531.10 per Troy ounce and Copper moved lower today by $0.02 to close at $3.14 per pound.

    On the Livestock and Meat Markets, the trend was mostly higher across the board today: Lean Hogs ended the day lower by $0.70 to close at $55.70; Pork Bellies ended the day higher by $0.08 at $84.20; Live Cattle ended the day higher by $0.05 at $94.60 and Feeder Cattle ended the day higher by $0.35 at $103.70.

    Other Commodities: Corn ended the day lower by $0.50 at $466.25 and Soybeans moved sharply lower today by $12.75 to end the session at $1,249.75.

    Bonds were mostly higher across the board today: 2 year bond closed at 100 30/32; 5 year bond moved higher by 6/32 to close at 102 5/32 today; 10 year bond moved higher by 11/32 to close at 103 12/32 and the 30 year bond moved higher by 31/32 to close at 110 31/32 on the day.

    The e-mini Dow ended the session today at 12,873 with a loss of 14 points on the trading session. The total Dow Exchange Volume for the day came in at 187,628 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 4,350,236; Open Interest for Futures moved higher by 153,088 points to close at 9,567,625; the Open Interest for Options moved higher by 146,858 points to close at 6,668,026 and the Cleared Only closed higher by 165 points to close at 20,370 for a total Open Interest on the day of 16,256,021 for a total Change on the day with a gain of 300,111 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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