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Offshore Drilling

Discussion in 'Forex Daily News & Outlook' started by MTnews, Jun 18, 2008.

  1. MTnews

    MTnews Content Contributor

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    Daily Market Commentary for June 18, 2008 from Millennium-Traders.Com

    President George W. Bush proposed today that Congress should lift the ban on offshore drilling which has been in effect since 1981. With the drop in Crude Oil supplies, Americans feel strongly that if off shore drilling was permitted, the USA has a strong chance of removing or greatly reducing our dependence on foreign oil. (read more)

    At the closing bell on the Stock Exchange, here is how the major world indices and major U.S. indices ended the session on the world market as well as the emerging markets including the stock market closing price:

    DOW (Dow Jones Industrial Average) triple digit loss of 129.70 points on the day to end the trading session at 12,030.60
    NYSE (New York Stock Exchange) loss of 74.24 points to end the trading session at 8,999.56
    NASDAQ loss of 28.02 points to end the trading session at 2,429.71
    S&P 500 loss of 12.72 points to end the trading session at 1,338.21
    FTSE All-World ex-U.S. loss of 1.89 points to end the trading session at 241.41
    FTSE RAFI 1000 loss of 65.67 points to end the trading session at 5,265.60
    BEL 20 (BEL20) loss of 61.07 points to end the trading session at 3,521.73
    CAC 40 (CAC40) loss of 67.58 points to end the trading session at 4,618.75
    FTSE100 (UKX100) triple digit loss of 105 points to end the trading session at 5,756.9
    NIKKEI 225 (NIK/O) triple digit gain of 104.4 points to end the trading session at 14,452.80

    Market trends on the New York Stock Exchange (NYSE) today: advanced stocks 871; declined stocks 2,263; unchanged stocks 100; stocks hitting new highs 65; stocks hitting new lows 194. List of volatile stocks as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living. CarMax Incorporated (NYSE: KMX) shed 2.00 points on the trading session, high on the trading session $16.54, low on the trading session $15.80 for a closing stock price at $16.34; Valmont Industries Incorporated (NYSE: VMI) shed 11.75 points on the trading session, high on the trading session $114.54, low on the trading session $102.68 for a closing stock price at $107.70; Snap-on Incorporated (NYSE: SNA) shed 3.00 points on the trading session, high on the trading session $56.98, low on the trading session $53.85 for a closing stock price at $54.28; MF Global Limited (NYSE: MF) shed 5.43 points on the trading session, high on the trading session $10.80, low on the trading session $7.45 for a closing stock price at $7.83; Rio Tinto plc (NYSE: RTP) gained 6.81 points on the trading session, high on the trading session $481.94, low on the trading session $467.34 for a closing stock price at $477.88; CME Group Incorporated (NYSE: CME) shed 0.17 points on the trading session, high on the trading session $448.50, low on the trading session $434.64 for a closing stock price at $441.65; Mosaic Company (NYSE: MOS) shed 0.08 points on the trading session, high on the trading session $163.25, low on the trading session $156.06 for a closing stock price at $161.00; CF Industries Holdings Incorporated (NYSE: CF) shed 0.42 points on the trading session, high on the trading session $172.99, low on the trading session $164.73 for a closing stock price at $169.20; Bunge Limited (NYSE: BG) shed 2.88 points on the trading session, high on the trading session $122.81, low on the trading session $118.00 for a closing stock price at $119.86; Lindsay Corporation (NYSE: LNN) shed 20.73 points on the trading session, high on the trading session $116.00, low on the trading session $90.74 for a closing price at $103.70; MasterCard Incorporated (NYSE: MA) gained 0.88 points on the trading session, high on the trading session $294.81, low on the trading session $285.44 for a closing stock price at $293.09; Potash Corporation Saskatchewan (NYSE: POT) shed 1.76 points on the trading session, high on the trading session $241.49, low on the trading session $233.32 for a closing stock price at $237.74.

    Market trends on the NASDAQ today: advanced stocks 809 declined stocks 2,062; unchanged stocks 138; stocks hitting new highs 39; stocks hitting new lows 221. List of volatile stocks as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living. Fifth Third Bancorp (NasdaqGS: FITB) shed 3.45 points on the trading session, high on the trading session $11.20, low on the trading session $9.23 for a closing stock price at $9.28; SunPower Corporation (NasdaqGS: SPWR) gained 2.33 points on the trading session, high on the trading session $84.83, low on the trading session $79.45 for a closing stock price at $84.30; First Solar, Incorporated (NasdaqGS: FSLR) shed 6.61 points on the trading session, high on the trading session $281.68, low on the trading session $272.02 for a closing stock price at $275.60; Google Incorporated (NasdaqGS: GOOG) shed 7.42 points on the trading session, high on the trading session $568.99, low on the trading session $559.16 for a closing stock price at $562.04.

    Market trends on the American Stock Exchange (AMEX) today: advanced stocks 409; declined stocks 735; unchanged stocks 105; stocks hitting new highs 35; stocks hitting new lows 41.

    Chicago Board of Trade Futures Market activity for the day, June 2008 Contracts:

    E-mini S&P 500 (ES) end of day price 1338.75, change -12.25;

    E-mini NASDAQ-100 (NQ) end of day price 1951.75, change -24.75;

    E-mini S&P SmallCap 600 (SMP) end of day price 390.30, change 0.00;

    $5 DJIA (YM) end of day price 12029, change -142.


    World Currencies at time of this posting:

    Euro 0.6439 to U.S. Dollars 1.5531

    Japanese Yen 107.81 to U.S. Dollars 0.0093

    British Pound 0.5104 to U.S. Dollars 1.9594

    Canadian Dollar 1.0178 to U.S. Dollars 0.9825

    Swiss Franc 1.0360 to U.S. Dollars 0.9653

    Department Of Energy released Crude Oil Inventories today: U.S. Crude Oil Stockpiles fell 1.2 Million Barrels at 301.0 Million Barrels; U.S. Gasoline Stockpiles fell 1.2 Million Barrels at 208.9 Million Barrels; U.S. Distillate Stockpiles increased by 2.6 Million Barrels at 116.6 Million Barrels; U.S. Refineries ran at 89.3% capacity versus 88.6% capacity a week ago; U.S. Gasoline Stockpiles fell 1.2 Million Barrels in the week compared to expectations of an increase by 800,000 Million Barrels; U.S. Distillate Stockpiles increased by 2.6 Million Barrels n the week compared to expectations of an increase by 1.8 Million Barrels.

    Commodities Markets
    Energy Sector: Light Crude (NYM) gained $2.67 on the day for a closing price of $136.68 a barrel ($US per bbl.); Heating Oil (NYM) gained $0.04 on the day for a closing price of $3.89 a gallon ($US per gal.); Natural Gas (NYM) gained $0.26 on the day for a closing price of $13.32 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) gained $0.05 on the day for a closing price of $3.47 a gallon ($US per gal.).

    Metals Markets: Gold Market Price (CMX) gained $6.60 on the day for a closing price of $893.50 ($US per Troy oz.); Silver (CMX) gained $0.27 on the day for a closing price of $17.34 ($US per Troy oz.); Platinum (NYM) gained $27.60 on the day for a closing price of $2,091.90 ($US per Troy oz.) and Copper (CMX) gained $0.41 on the day for a closing price of $3.75 ($US per lb.).

    Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) shed 0.08 on the day for a closing price of 76.08; Pork Bellies (CME) shed 0.13 on the day for a closing price of 72.60; Live Cattle (CME) gained 0.30 on the day for a closing price of 103.90; Feeder Cattle (CME) gained 0.18 on the day for a closing price of 110.50.

    Other Commodities (cents per bu.): Corn (CBT) gained 4.00 on the day for a closing price of 780.00 and Soybeans (CBT) shed 10.00 on the day for a closing price of 1,543.00.

    Bond action for the day: 2 year bond gained 4/32 on the day for a closing price of 99 151832 with a Yield of 2.85, Yield Change -0.06; 5 year bond gained 12/32 on the day for a closing price of 99 23/32 with a Yield of 3.56, Yield Change -0.08; 10 year bond gained 16/32 on the day for a closing price of 97 27/32 with a Yield of 4.14, Yield Change -0.06; the 30 year bond gained 27/32 on the day for a closing price of 94 19/32 with a Yield of 4.71, Yield Change -0.06.

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