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Discussion in 'Forex Daily News & Outlook' started by MTnews, May 15, 2008.

  1. MTnews

    MTnews Content Contributor

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    Daily Market Commentary for May 15, 2008 from Millennium-Traders.Com

    Todays top stock pick for the trading session was China Architectural Engineering, Incorporated (NYSE: RCH) after yet another day of gains accompanied by active day trading action. Reported earnings and revenues earlier this week provided the start to a nice steady trend into higher territory. (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 U.S. Markets:
    DOW (Dow Jones Industrial Average) gain of 94.28 points on the day to end the session at 12,992.66
    NYSE (New York Stock Exchange) triple digit gain of 116.07 points to end the session at 9,553.52
    NASDAQ gain of 37.03 points for a close at 2,533.73
    S&P 500 gain of 14.91 points for a close at 1,423.57
    FTSE All-World ex-U.S. gain of 2.38 points to close at 256.44
    FTSE RAFI 1000 gain of 52.57 points to close at 5,731.16
    BEL 20 loss of 32.67 points to close at 3,798.99
    CAC 40 gain of 2.27 points to close at 5,057.51
    FTSE100 gain of 35.8 points to close at 6,251.8
    NIKKEI 225 triple digit gain of 133.1 points to close at 14,251.70

    News on the New York Stock Exchange (NYSE) today: advanced stocks 2,168; declined stocks 953; unchanged stocks 127; stocks hitting new highs 95; stocks hitting new lows 26.

    Daily Trading Range and end of day trading results for volatile stocks on the NYSE traded by active Day Traders today: Petroleo Brasileiro (NYSE: PBR) gained 2.00 points on the trading day, high on the trading day $68.30, low on the trading day $66.54, for a closing price at $68.27; China Digital TV Holding Company Limited (NYSE: STV) shed 2.22 points on the trading day, high on the trading day $18.86, low on the trading day $18.86, for a closing price at $18.00; United States Steel Corporation (NYSE: X) gained 4.63 points on the trading day, high on the trading day $177.20, low on the trading day $172.71, for a closing price at $176.61; Yingli Green Energy Holding Corporation Limited (NYSE: YGE) shed 1.88 points on the trading day, high on the trading day $27.96, low on the trading day $25.05, for a closing price at $25.31; Goldman Sachs Group Incorporated (NYSE: GS) shed 1.51 points on the trading day, high on the trading day $189.80, low on the trading day $185.32, for a closing price at $188.62; Oil Services HOLDRs (NYSE: OIH) gained 6.62 points on the trading day, high on the trading day $209.29, low on the trading day $202.45, for a closing price at $209.24; Devon Energy Corporation (NYSE: DVN) gained 2.33 points on the trading day, high on the trading day $119.15, low on the trading day $115.52, for a closing price at $118.34; Pyramid Oil Corporation (NYSE: PDO) gained 5.95 points on the trading day, high on the trading day $14.85, low on the trading day $9.15, for a closing price at $14.84; Telephone & Data Systems Incorporated (NYSE: TDS) gained 4.51 points on the trading day, high on the trading day $48.25, low on the trading day $42.92, for a closing price at $47.81; CME Group, Incorporated (NYSE: CME) shed 0.75 points on the trading day, high on the trading day $482.70, low on the trading day $470.73, for a closing price at $474.25; Transocean, Incorporated (NYSE: RIG) gained 8.20 points on the trading day, high on the trading day $155.75, low on the trading day $150.06, for a closing price at $155.40; Potash Corporation of Saskatchewan, Incorporated (NYSE: POT) gained 5.35 points on the trading day, high on the trading day $205.00, low on the trading day $199.76, for a closing price at $204.15; China Architectural Engineering, Incorporated (NYSE: RCH) gained 1.92 points on the trading day, high on the trading day $10.87, low on the trading day $8.50, for a closing price at $10.18; CF Industries Holdings, Incorporated (NYSE: CF) gained 2.46 points on the trading day, high on the trading day $140.21, low on the trading day $136.55, for a closing price at $138.73; Fluor Corporation (NYSE: FLR) gained 6.17 points on the trading day, high on the trading day $192.65, low on the trading day $184.77, for a closing price at $191.64; Monsanto Company (NYSE: MON) gained 1.05 points on the trading day, high on the trading day $125.27, low on the trading day $122.69, for a closing price at $123.68.

    News on the NASDAQ today: advanced stocks 1,779; declined stocks 1,135; unchanged stocks 118; stocks hitting new highs 47; stocks hitting new lows 78. Trading range and end of day trading results for volatile NASDAQ stocks traded by active Day Traders today: Sina Corporation (NasdaqGS: SINA) gained 3.06 points on the trading day, high on the trading day $58.60, low on the trading day $55.36, for a closing price at $56.21; Ctrip.com International Limited (NasdaqGS: CTRP) shed 5.85 points on the trading day, high on the trading day $60.79, low on the trading day $55.97, for a closing price at $57.48; Research In Motion Limited (NasdaqGS: RIMM) gained 2.15 points on the trading day, high on the trading day $140.90, low on the trading day $136.41, for a closing price at $140.71; Express Scripts Incorporated (NasdaqGS: ESRX) shed 0.73 points on the trading day, high on the trading day $73.15, low on the trading day $70.93, for a closing price at $72.17; Atlas America Incorporated (NasdaqGS: ATLS) shed 2.99 points on the trading day, high on the trading day $73.97, low on the trading day $70.31, for a closing price at $70.67; First Solar, Incorporated (NasdaqGS: FSLR) shed 1.16 points on the trading day, high on the trading day $315.43, low on the trading day $302.70, for a closing price at $306.78; DryShips, Incorporated (NasdaqGS: DRYS) gained 7.46 points on the trading day, high on the trading day $106.50, low on the trading day $101.67, for a closing price at $106.50; Baidu.com, Incorporated (NasdaqGS: BIDU) gained 3.10 points on the trading day, high on the trading day $368.06, low on the trading day $360.36, for a closing price at $364.27.

    News on the American Stock Exchange (AMEX) today: advanced stocks 773; declined stocks 436; unchanged stocks 93; stocks hitting new highs 45; stocks hitting new lows 33.

    Executive Vice President of New York Fed William Dudley: Forex Market suggests funding costs are higher; bank balance sheet squeeze ups Libor/OIS spread; most Fed actions `associated with decline' in spread; limits to Fed ability to lower funding rates; Fed can't create bank capital, ease balance sheets; Fed can reduce risks by providing safe harbor; Fed actions smooth, extend transition; limit damage; TAF, TSLF seem to have improved market function; some clamor for larger, longer-dated TAF Auctions; TSLF Auctions have helped Treasury's market to function.

    Philadelphia Fed May Inventories fell 13.1 versus drop by 26.2 in April; Philadelphia Fed May Delivery Times fell 12.8 versus April 4.2; Philadelphia Fed May Shipments 2.2 versus drop by 8.0 in April; Philadelphia Fed May New Orders fell 3.7 versus drop by 18.8 April; Philadelphia Fed May Employment fell 1.0 versus drop by 11.1 April; Philadelphia Fed May Price Received 31.6 versus April 30.9; Philadelphia Fed May Price Paid 53.8 versus April 51.6; Philadelphia Fed May Business Index expected to fall by 20.0; Philadelphia Fed May Business Index fell 15.6 versus drop by 24.9 in April.

    US Jobless Claims rose 6K to 371K for week of May 10 compared to survey of an increase by 5K and U.S. Continuing Claims for week of May 3 rose 28K to 3,060,000.

    Commodities Markets
    Energy Sector: Light Crude (NYM) shed $0.10 on the day to close at $124.12 a barrel ($US per bbl.); Heating Oil (NYM) closed with no change at $3.62 a gallon ($US per gal.); Natural Gas (NYM) shed $0.18 on the day to close at $11.56 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) shed $0.01 on the day to close at $3.17 a gallon ($US per gal.).

    Metals Markets: Gold (CMX) gained $13.40 to close at $879.91 ($US per Troy oz.); Silver (CMX) gained $0.07 to close at $16.69 ($US per Troy oz.); Platinum (NYM) shed $14.10 to close at $2,025.00 ($US per Troy oz.) and Copper (CMX) gained $0.06 to close at $3.74 ($US per lb.).

    Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) shed 0.40 to close at 77.05; Pork Bellies (CME) shed 0.93 to close at 80.63; Live Cattle (CME) shed 0.73 to close at 99.50; Feeder Cattle (CME) gained 0.53 to close at 113.27.

    Other Commodities (cents per bu.): Corn (CBT) gained 2.75 to close the session at 599.00 and Soybeans (CBT) shed 32.00 to close session at 1,347.50.

    Bonds were higher across the board today: 2 year bond gained 4/32 to close at 99 12/32 with a Yield of 2.44, Yield Change -0.07; 5 year bond gained 12/32 to close at 100 1/32 with a Yield of 3.11, Yield Change -0.08; 10 year bond gained 4/32 to close at 99 26/32 with a Yield of 3.84, Yield Change -0.07; the 30 year bond gained 19/32 to close at 96 24/32 on the day with a Yield of 4.57, Yield Change -0.04.

    The e-mini Dow $5 ended the commodity session today at 12,994 with a gain of 115 points on the trading session. Futures Traders should review workshops available at the CBOT (Chicago Board of Trade). Educational in-person seminars schedules available on the CBOT (Chicago Board of Trade) website.

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    Thanks for reading
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