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Market Commentary for January 9, 2008 from Millennium-Traders.Com

Discussion in 'Forex Daily News & Outlook' started by MTnews, Jan 9, 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 146.24 points on the day to end the session at 12,735.31; the NYSE (New York Stock Exchange) posted a gain of 98.58 points to end the session at 9,424.66; the NASDAQ posted a gain of 34.04 points for a close at 2,474.55; the S&P 500 posted a gain of 18.94 points for a close at 1,409.13 and the RUSSELL 2000 moved higher by 7.26 points to close at 712.12. 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 0.72 points to close at 254.49 and the FTSE RAFI 1000 posted a gain of 58.23 points to close at 5,703.04.

    On the NYSE today, advancers came in at 1,798; decliners totaled 1,392; unchanged came in at 71; new highs came in at 41 and new lows came in at 635.

    Momentum stocks traded by active Day Traders on the NYSE today: Petroleo Brasileiro (PBR) gained 3.86 points with a high on the day of $114.51, a low of $110.28 for a closing price at $114.21; Chipotle Mexican Grill, Incorporated (CMG) gained 0.71 points with a high on the day of $118.90, a low of $108.00 for a closing price at $118.58; LDK Solar Corporation Limited (LDK) shed 0.51 points with a high on the day of $46.70, a low of $40.68 for a closing price at $43.30; InterContinental Exchange, Incorporated (ICE) shed 2.27 points with a high on the day of $168.72, a low of $156.59 for a closing price at $162.83; Rio Tinto plc (RTP) gained 1.91 points with a high on the day of $398.19 a low of $385.02 for a closing price at $396.01; CME Group Incorporated (CME) gained 2.34 points with a high on the day of $603.75, a low of $574.28 for a closing price at $600.34; VMware, Incorporated (VMW) gained 5.39 points with a high on the day of $80.00, a low of $76.02 for a closing price at $79.89; MBIA Incorporated (MBI) shed 0.58 points with a high on the day of $15.00, a low of $11.11 for a closing price at $13.40; iShares FTSE/Xinhua China 25 Index (FXI) gained 10.42 points with a high on the day of $176.94, a low of $169.53 for a closing price at $176.40; Alliant Techsystems Incorporated (ATK) shed 3.94 points with a high on the day of $105.84, a low of $98.42 for a closing price at $104.98; Countrywide Financial Corporation (CFC) shed 0.35 points with a high on the day of $5.80, a low of $4.43 for a closing price at $5.12; NYSE Euronext, Incorporated (NYX) gained 3.47 points with a high on the day of $79.82, a low of $75.84 for a closing price at $79.80; ONEOK Incorporated (OKE) gained 4.40 points with a high on the day of $48.44, a low of $44.50 for a closing price at $48.33; CNH Global NV (CNH) shed 2.35 points with a high on the day of $61.45, a low of $56.00 for a closing price at $59.10; Humana Incorporated (HUM) gained 3.87 points with a high on the day of $86.15, a low of $82.08 for a closing price at $85.79; Federal Realty Investment Trust (FRT) shed 1.43 points with a high on the day of $73.42, a low of $67.76 for a closing price at $72.19 and Mosaic Corporation (MOS) gained 0.64 points with a high on the day of $93.54, a low of $80.00 for a closing price at $89.01.

    On the NASDAQ today, advanced totaled 1,454; decliners totaled 1,603; unchanged came in at 96; new highs came in at 25 and new lows came in at 649.

    Momentum stocks traded by active Day Traders on the NASDAQ today: Baidu.com Incorporated (BIDU) shed 1.11 points with a high on the day of $347.75, a low of $319.20 for a closing price at $344.10; LSI Industries Incorporated (LYTS) shed 4.74 points with a high on the day of $15.49, a low of $8.12 for a closing price at $11.43; Apple Incorporated (AAPL) gained 8.15 points with a high on the day of $179.50, a low of $168.30 for a closing price at $179.40; Pharmaceutical Product Development Incorporated (PPDI) gained 4.33 points with a high on the day of $47.03, a low of $44.40 for a closing price at $46.86; Research In Motion Limited (RIMM) gained 2.11 points with a high on the day of $98.55, a low of $91.19 for a closing price at $98.55; Apollo Group Incorporated (APOL) gained 11.05 points with a high on the day of $79.97, a low of $74.40 for a closing price at $79.16; Garmin Limited (GRMN) shed 4.21 points with a high on the day of $76.80, a low of $67.50 for a closing price at $75.99; Google Incorporated (GOOG) gained 21.52 points with a high on the day of $653.34, a low of $622.51 for a closing price at $653.20; First Solar Incorporated (FSLR) gained 3.75 points with a high on the day of $234.80, a low of $208.33 for a closing price at $234.25; Haynes International Incorporated (HAYN) shed 1.11 points with a high on the day of $56.30, a low of $52.72 for a closing price at $54.95; DryShips, Incorporated (DRYS) shed 4.61 points with a high on the day of $66.00, a low of $58.87 for a closing price at $62.71; SunPower Corporation (SPWR) shed 4.03 points with a high on the day of $117.60, a low of $102.49 for a closing price at $111.12 and Spectrum Control Incorporated (SPEC) shed 4.38 points with a high on the day of $10.19, a low of $8.76 for a closing price at $9.76.

    Comments from President Federal Reserve Bank of St. Louis William Poole: recession risks worth worrying about; Fed Chair's voice on rates is paramount; stable information expectations give Fed room to maneuver; risks on both sides of economic outlook; economy has inflation risks; most current data not always best outlook guide; time needed to resolve market's troubles; U.S. economic fundamentals 'remain strong'; 2008 'to be a year of rising growth'; too soon to say if U.S. economy will hit recession; investment professionals have made many mistakes; 'shortsightedness' root of current market woes; prime mortgages not under strain; role remains for sub-prime mortgage lending; Fed is not at fault for housing market troubles; maintaining price stability will buoy dollar; dollar won't 'go south' if price stability achieved; tax policies should be aimed at long run goals; considerable uncertainty surround outlook; low inflation expectations give Fed 'Breathing Room'; Fed has space to change course on policy if needed; Fed views on rate, economic outlook are diverse; does not know if a recession will happen; mistake to argue unambiguously a recession is here and economic data has not been decisively weak.

    U.S. MBA Purchase Index rises 14.7% to 414 from 360.8; U.S. MBA Refinancing Index rises 53.9% to 2494.2 from 1620.9 and U.S. MBA Market Index rises 32.2% to 706 from 533.9.

    Commodities Markets
    The trend was mostly lower across the board today for the Energy Sector: Light crude moved lower today by $0.66 to close at $95.67 a barrel; Heating Oil moved lower today by $0.02 to close at $2.61 a gallon; Natural Gas moved higher today by $0.11 to close at $8.09 per million BTU and Unleaded Gas moved lower today by $0.04 to close at $2.44 a gallon.

    Metals Market ended the session mixed across the board today: Gold moved higher today by $1.40 to close at $881.70 a Troy ounce; Silver moved higher today by $0.03 to close at $15.84 per Troy ounce; Platinum moved lower today by $1.50 to close at $1,559.00 per Troy ounce and Copper moved lower today by $0.01 to close at $3.29 per pound.

    On the Livestock and Meat Markets, the trend was mostly higher across the board today: Lean Hogs ended the day higher by $0.65 to close at $56.53; Pork Bellies ended the day higher by $0.65 at $85.23; Live Cattle ended the day lower by $0.80 at $93.40 and Feeder Cattle ended the day higher by $0.28 at $103.40.

    Other Commodities: Corn ended the day lower by $1.50 at $477.25 and Soybeans moved lower today by $4.50 to end the session at $1,262.50.

    Bonds were lower across the board today: 2 year bond moved lower by 4/32 to close at 100 31/32; 5 year bond moved lower by 11/32 to close at 102 7/32 today; 10 year bond moved lower by 15/32 to close at 103 14/32 and the 30 year bond moved lower by 26/32 to close at 110 23 on the day.

    The e-mini Dow ended the session today at 12,768 with a gain of 117 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 3,983,691; Open Interest for Futures moved higher by 141,947 points to close at 9,705,597; the Open Interest for Options moved higher by 190,180 points to close at 7,024,679 and the Cleared Only closed higher by 81 points to close at 20,346 for a total Open Interest on the day of 16,750,622 for a total Change on the day with a gain of 332,208 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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