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Rising Crude Oil Prices

Discussion in 'Forex Daily News & Outlook' started by MTnews, Apr 22, 2008.

  1. MTnews

    MTnews Content Contributor

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    Daily Market Commentary for April 22, 2008 from Millennium-Traders.Com

    Crude Oil bolted to over $119.00 a barrel, just off the $120 mark and somebody should stop it! The markets held in negative territory through out the trading session amidst a combo of earnings reports and of course the pathetic price of Crude Oil (unless your an oil man of course). (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) triple digit loss of 104.79 points on the day to end the session at 12,720.23

    NYSE (New York Stock Exchange) loss of 84.32 points to end the session at 9,227.97

    NASDAQ loss of 31.10 points for a close at 2,376.94

    S&P 500 loss of 12.23 points for a close at 1,375.94

    FTSE All-World ex-U.S. loss of 1.22 points to close at 249.73

    FTSE RAFI 1000 loss of 57.56 points to close at 5,522.43

    BEL 20 loss of 30.95 points on the day to end the session at 3,859.14

    CAC 40 loss of 37.71 points on the day to end the session at 4,872.64

    FTSE100 loss of 18.3 points on the day to end the session at 6,034.70

    NIKKEI 225 triple digit loss of 148.8 points on the day to end the session at 13,547.80

    News on the New York Stock Exchange (NYSE) today: advanced stocks 885; declined stocks 2,280; unchanged stocks 84; stocks hitting new highs 90; stocks hitting new lows 65. Daily Trading Range and end of day trading results for volatile NYSE stocks traded by active Day Traders today: Monsanto Company (NYSE: MON) shed 1.25 points on the trading day, high on the trading day $131.25, low on the trading day $127.42, for a closing price at $128.35; Intrepid Potash, Incorporated (NYSE: IPI) high on the trading day $65.00, low on the trading day $32.00, for a closing price at $46.25; DST Systems Incorporated (NYSE: DST) shed 10.40 points on the trading day, high on the trading day $62.81, low on the trading day $53.83, for a closing price at $56.90; InterContinental Exchange, Incorporated (NYSE: ICE) shed 9.89 points on the trading day, high on the trading day $159.06, low on the trading day $148.46, for a closing price at $149.68; Petroleo Brasileiro (NYSE: PBR) shed 1.24 points on the trading day, high on the trading day $130.92, low on the trading day $127.24, for a closing price at $127.59; Platinum Underwriters Holdings Limited (NYSE: PTP) gained 2.27 points on the trading day, high on the trading day $36.50, low on the trading day $34.44, for a closing price at $36.03; Transocean, Incorporated (NYSE: RIG) shed 1.73 points on the trading day, high on the trading day $159.62, low on the trading day $156.16, for a closing price at $157.94; UltraShort Financials ProShares (NYSE: SKF) gained 2.67 points on the trading day, high on the trading day $108.68, low on the trading day $105.82, for a closing price at $107.77; CF Industries Holdings, Incorporated (NYSE: CF) shed 2.46 points on the trading day, high on the trading day $158.50, low on the trading day $149.82, for a closing price at $153.50; Meredith Corporation (NYSE: MDP) shed 4.82 points on the trading day, high on the trading day $36.49, low on the trading day $32.51, for a closing price at $32.52; CME Group, Incorporated (NYSE: CME) shed 46.48 points on the trading day, high on the trading day $503.98, low on the trading day $460.26, for a closing price at $477.02; Potash Corporation of Saskatchewan, Incorporated (NYSE: POT) gained 5.48 points on the trading day, high on the trading day $206.71, low on the trading day $214.69, for a closing price at $214.27; Hess Corporation (NYSE: HES) gained 3.48 points on the trading day, high on the trading day $116.81, low on the trading day $111.01, for a closing price at $116.04.

    News on the NASDAQ today: advanced stocks 706; declined stocks 2,222; unchanged stocks 134; stocks hitting new highs 24; stocks hitting new lows 134. Trading range and end of day trading results for volatile NASDAQ stocks traded by active Day Traders today: Intuitive Surgical, Incorporated (NasdaqGS: ISRG) shed 15.73 points on the trading day, high on the trading day $286.98, low on the trading day $275.13, for a closing price at $275.75; Netflix, Incorporated (NasdaqGS: NFLX) shed 9.31 points on the trading day, high on the trading day $33.75, low on the trading day $29.45, for a closing price at $30.01; First Solar, Incorporated (NasdaqGS: FSLR) gained 7.06 points on the trading day, high on the trading day $308.24, low on the trading day $295.71, for a closing price at $298.91; Millicom International Cellular SA (NasdaqGS: MICC) gained 11.70 points on the trading day, high on the trading day $109.05, low on the trading day $101.51, for a closing price at $107.51; Google Incorporated (NasdaqGS: GOOG) gained 18.65 points on the trading day, high on the trading day $560.83, low on the trading day $537.56, closing price $556.44; Baidu.com, Incorporated (NasdaqGS: BIDU) shed 7.11 points on the trading day, high on the trading day $356.90, low on the trading day $343.31, closing price $350.40.

    News on the American Stock Exchange (AMEX) today: advanced stocks 451; declined stocks 765; unchanged stocks 102; stocks hitting new highs 37; stocks hitting new lows 31.

    Redbook: U.S. Retail Sales fell 1.3% during first 2 weeks in April versus March. U.S. chain store sales fell 1.3% in the first two weeks of April compared with the previous month, according to Redbook Research's latest indicator of national retail sales released Tuesday. The drop in the index was slightly milder than the targeted 1.4%, according to the report. The Johnson Redbook Index additionally showed seasonally adjusted sales in the month-to-date rose 1.9% compared with April 2007 which is just above the 1.8% targeted increase. Redbook said on an unadjusted basis, sales in the week ending April 19 were up 1.7% from the same week in 2007, after a 2.0% gain the previous week.

    U.S. March Existing Home Sales consensus was at rate of 4.93M; U.S. Inventory of Unsold U.S. Homes at 9.9 months supply; U.S. March Median Existing Home Price fell 7.7% on the year to $200,700.

    Commodities Markets
    Energy Sector:
    Light Crude (NYM) gained $1.89 on the day to close at $119.50 a barrel ($US per bbl.); Heating Oil (NYM) gained $0.01 on the day to close at $3.20 a gallon ($US per gal.); Natural Gas (NYM) shed $0.11 on the day to close at $10.76 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) gained $0.04 on the day to close at $3.02 a gallon ($US per gal.).

    Metals Markets:
    Gold (CMX) gained $7.60 to close at $925.200 ($US per Troy oz.); Silver (CMX) gained $0.35 to close at $17.71 ($US per Troy oz.); Platinum (NYM) gained $10.10 to close at $2,037.40 ($US per Troy oz.) and Copper (CMX) gained $0.09 to close at $3.96 ($US per lb.).

    Livestock and Meat Markets (cents per lb.):
    Lean Hogs (CME) gained 0.70 to close at 73.68; Pork Bellies (CME) shed 0.95 to close at 74.55; Live Cattle (CME) gained 0.15 to close at 92.10; Feeder Cattle (CME) shed 0.03 to close at 109.08.

    Other Commodities (cents per bu.):
    Corn (CBT) gained 14.00 to close the session at 607.75 and Soybeans (CBT) gained 59.00 to close the session at 1,389.50.

    Bonds were higher across the board today:
    2 year bond shed 1/32 at 99 5/32 with a Yield of 2.18, Yield Change +0.01; 5 year bond no change to close at 98 14/32 with a Yield of 2.93, Yield Change 0.00; 10 year bond gained 10/32 to close at 98 14/32 with a Yield of 3.69, Yield Change 0.03; the 30 year bond gained 26/32 to close at 98 28/32 on the day with a Yield of 4.44, Yield Change 0.05.

    The e-mini Dow $5 ended the commodity session today at 12,713 with a loss of 95 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.

    The end of day results for the CBOT (Chicago Board of Trade) not available.

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    Thanks for reading
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