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Markets Attempt to Rebound Today

Discussion in 'Forex Daily News & Outlook' started by MTnews, Feb 7, 2008.

  1. MTnews

    MTnews Content Contributor

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

    At the closing bell on the Stock Exchange, here is how the major indices ended the session on the U.S. Markets:

    DOW (Dow Jones Industrial Average) gain of 46.90 points on the day to end the session at 12,247.00

    NYSE (New York Stock Exchange) gain of 40.93 points to end the session at 8,859.04

    NASDAQ gain of 14.28 points for a close at 2,293.03

    S&P 500 gain of 10.46 points for a close at 1,336.91

    RUSSELL 2000 gain of 10.29 points to close at 702.78

    FTSE Global Equity Index Series (GEIS) loss of 1.52 points to close at 234.61

    FTSE RAFI 1000 gain of 37.20 points to close at 5,505.97

    BEL 20 loss of 45.99 points to close at 3,652.59

    CAC 40 loss of 92.63 points to close at 4,723.80

    FTSE100 triple digit loss of 151.3 points to close at 5,724.10

    NIKKEI 225 triple digit gain of 108 points to close at 13,207.20

    On the NYSE today, advancers came in at 1,982 decliners totaled 1,170; unchanged came in at 92; new highs came in at 21 and new lows came in at 53. Momentum stocks traded by active Day Traders on the NYSE today: Bunge Ltd (BG) shed 10.92 points with a high on the day of $116.79, a low of $108.18 for a closing price at $112.66; Suntech Power Holdings Co. Limited (STP) shed 2.31 points with a high on the day of $48.34, a low of $43.23 for a closing price at $45.95; Infineon Technologies AG (IFX) shed 1.14 points with a high on the day of $8.53, a low of $7.89 for a closing price at $8.38; Monsanto Corporation (MON) shed 2.45 points with a high on the day of $106.47, a low of $98.57 for a closing price at $103.93; The Bear Stearns Companies, Incorporated (BSC) gained 0.78 points with a high on the day of $84.30, a low of $80.21 for a closing price at $83.03; Diamond Offshore Drilling Incorporated (DO) shed 3.39 points with a high on the day of $110.30, a low of $103.65 for a closing price at $106.91; Prudential Financial Incorporated (PRU) shed 6.01 points with a high on the day of $75.05, a low of $69.05 for a closing price at $71.39; CME Group, Incorporated (CME) gained 42.76 points with a high on the day of $547.43, a low of $510.00 for a closing price at $528.01; Petroleo Brasileiro (PBR) gained 5.59 points with a high on the day of $112.36, a low of $107.97 for a closing price at $111.60; InterContinental Exchange, Incorporated (ICE) gained 14.49 points with a high on the day of $132.65, a low of $121.90 for a closing price at $130.39; Mosaic Corporation (MOS) gained 0.31 points with a high on the day of $96.00, a low of $88.10 for a closing price at $93.75; Mastercard Incorporated (MA) shed 4.07 points with a high on the day of $205.10, a low of $195.16 for a closing price at $200.88; NYMEX Holdings Incorporated (NMX) gained 7.07 points with a high on the day of $97.00, a low of $91.50 for a closing price at $94.95; Potash Corp. of Saskatchewan, Incorporated (POT) shed 1.09 points with a high on the day of $139.99, a low of $131.36 for a closing price at $137.78; Mastercard Incorporated (MA) shed 4.07 points with a high on the day of $205.10, a low of $195.16 for a closing price at $200.88; United States Steel Corporation (X) gained 1.08 points with a high on the day of $98.28, a low of $92.47 for a closing price at $96.90.

    On the NASDAQ today, advanced totaled 1,706; decliners totaled 1,262; unchanged came in at 124; new highs came in at 16 and new lows came in at 175. Momentum stocks traded by active Day Traders on the NASDAQ today: Apple Incorporated (AAPL) shed 0.76 points with a high on the day of $124.78, a low of $117.27 for a closing price at $121.24; Baidu.com Incorporated (BIDU) gained 2.30 points with a high on the day of $242.91, a low of $223.16 for a closing price at $232.30; First Solar, Incorporated (FSLR) shed 6.11 points with a high on the day of $173.43, a low of $157.66 for a closing price at $165.60; SunPower Corporation (SPWR) gained 3.11 points with a high on the day of $65.90, a low of $55.45 for a closing price at $63.39; Sears Holdings Corporation (SHLD) gained 5.01 points with a high on the day of $104.16, a low of $97.00 for a closing price at $102.68;

    Research In Motion Limited (RIMM) gained 0.85 points with a high on the day of $87.92, a low of $81.96 for a closing price at $84.95.

    U.S. Jobless Claims fell 22K to 356K for week of February 2 compared to survey of a drop by 32.5K; U.S. Continuing Claims for week of January 26 rose 75K to 2,785,000.

    Treasury Secretary Henry J. Paulson commented today: Housing Remains Biggest Risk for Economy and Extending Unemployment Would Send 'Wrong Signal'.

    President Federal Reserve Bank of Atlanta, Dennis P. Lockhart comments from today: U.S. Can Manage Orderly Dollar Decline; There Have Been Benefits to Lower Dollar; Fed Rate Cuts Addressing Threats to Economy; Expects Weak 1H Economy, Quicker Growth in 2H; Inflation to Moderate from Current Levels; Fed Actions Should Stabilize Housing Sector; Fed Moves Should also Stabilize Financial Sector; Banks will Remain Central to Financial System; Recent Troubles will Change Face of U.S. Markets; Securitization Process to be More Transparent; Sees More Modest Profile For Private Equity; Recent Troubles will Strengthen Financial Sector; Very Concerned' About Housing Price Moves; Mortgage Market Reforming Lending Practices; Rate Cuts May Help Some Mortgage Borrowers; Fed's Main Focus Remains on Economy; Fed Can't Ignore State Of Financial Markets.

    European Central Bank President Jean-Claude Trichet commented today: Slowing Mortgage Lending Reflects Past Rate Hikes; ECB Has Always Had Broader Collateral Policy; ECB Did Not Increase Number Of Tools During Turmoil; ECB Did Not Adapt Collateral Policy Amid Market Turmoil; Treasury Bonds Were Less Utilized As Collateral;

    Commodities Markets
    The trend was higher across the board today for the Energy Sector: Light crude moved higher today by $0.97 to close at $88.11 a barrel; Heating Oil moved higher today by $0.04 to close at $2.46 a gallon; Natural Gas moved higher today by $0.11 to close at $8.10 per million BTU and Unleaded Gas moved higher today by $0.03 to close at $2.27 a gallon.

    Metals Markets ended the session higher across the board today: Gold moved higher today by $5.00 to close at $910.00 a Troy ounce; Silver moved higher today by $0.23 to close at $16.78 per Troy ounce; Platinum moved sharply higher today by $32.40 to close at $1,851.40 per Troy ounce and Copper moved higher by $0.14 today to close at $3.45 per pound.

    On the Livestock and Meat Markets, the trend was mostly higher across the board today: Lean Hogs ended the day lower by $0.75 to close at $64.70; Pork Bellies ended the day higher by $1.83 to close at $97.00; Live Cattle ended the day higher by $1.58 at $96.05 and Feeder Cattle ended the day higher by $0.93 at $105.85.

    Other Commodities: Corn ended the day lower by $2.00 at $499.50 and Soybeans moved nicely higher today by $13.00 to end the session at $1,331.50.

    Bonds were mostly higher across the board today: 2 year bond moved higher by 10/32 to close at 100 3/32; 5 year bond moved higher by 9/32 to close at 100 4/32 today; 10 year bond moved lower by 1 8/32 to close at 97 24/32 and the 30 year bond moved lower by 2 21/32 to close at 107 21/32 on the day.

    The e-mini Dow ended the session today at 12,225 with a loss of 10 points on the trading session. The total Dow Exchange Volume for the day came in at 173,798 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 3,987,130; Open Interest for Futures moved higher by 20,634 points to close at 10,542,808; the Open Interest for Options moved higher by 133,001 points to close at 9,823,055 and the Cleared Only closed higher by 729 points to close at 21,800 for a total Open Interest on the day of 20,387,663 for a total Change on the day with a gain of 154,364 points.

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