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Stagflation; What Is It?

Discussion in 'Forex Daily News & Outlook' started by MTnews, Apr 9, 2008.

  1. MTnews

    MTnews Content Contributor

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

    Government officials are beginning to refer to the economic situation, the recession, as that of 'stagflation'. What is the meaning of stagflation? (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) loss of 49.83 points on the day to end the session at 12,527.26

    NYSE (New York Stock Exchange) loss of 75.81 points to end the session at 9,074.82

    NASDAQ loss of 26.64 points for a close at 2,322.12

    S&P 500 loss of 11.05 points for a close at 1,354.49

    FTSE All-World ex-U.S. loss of 1.21 points to close at 245.11

    FTSE RAFI 1000 loss of 66.32 points to close at 5,467.22

    BEL 20 loss of 18.91 points on the day to end the session at 3,838.49

    CAC 40 loss of 37.72 points on the day to end the session at 4,874.97

    FTSE100 loss of 6.3 points on the day to end the session at 5,983.90

    NIKKEI 225 loss of 138.5 points on the day to end the session at 13,111.90

    News on the New York Stock Exchange (NYSE) today: advanced stocks 876; declined stocks 2,270; unchanged stocks 83; stocks hitting new highs 47; stocks hitting new lows 32. Daily Trading Range and end of day trading results for volatile NYSE stocks traded by active Day Traders today: Bunge Limited (BG) shed 1.86 points on the trading day, high on the trading day $104.94, low on the trading day $100.27, for a closing price at $101.25; Transocean, Incorporated (RIG) gained 4.34 points on the trading day, high on the trading day $149.47, low on the trading day $144.50, for a closing price at $148.19; SLM Corporation (SLM) shed 0.86 points on the trading day, high on the trading day $19.88, low on the trading day $17.76, for a closing price at $17.89; Goldman Sachs Group Incorporated (GS) shed 4.76 points on the trading day, high on the trading day $178.90, low on the trading day $173.15, for a closing price at $174.14; NVR Incorporated (NVR) shed 19.89 points on the trading day, high on the trading day $635.00, low on the trading day $595.30, for a closing price at $599.91; Shaw Group Incorporated (SGR) shed 1.00 points on the trading day, high on the trading day $57.00, low on the trading day $51.57, for a closing price at $54.80; Mechel Open Joint Stock Company (MTL) gained 12.78 points on the trading day, high on the trading day $144.00, low on the trading day $129.00, for a closing price at $142.88; Humana Incorporated (HUM) shed 2.44 points on the trading day, high on the trading day $45.07, low on the trading day $42.38, for a closing price at $42.76; United States Steel Corporation (X) shed 3.92 points on the trading day, high on the trading day $145.44, low on the trading day $140.71, for a closing price at $141.63; General Cable Corporation (BGC) shed 2.12 points on the trading day, high on the trading day $67.01, low on the trading day $64.22, for a closing price at $64.94; UltraShort Financials ProShares (NYSE: SKF) gained 3.96 points on the trading day, high on the trading day $109.39, low on the trading day $104.09, for a closing price at $108.96; Petroleo Brasileiro (NYSE: PBR) gained 0.74 points on the trading day, high on the trading day $116.25, low on the trading day $113.50, for a closing price at $114.64; CF Industries Holdings, Incorporated (NYSE: CF) gained 2.73 points on the trading day, high on the trading day $136.73, low on the trading day $131.51, closing price $133.75; CME Group, Incorporated (NYSE: CME) shed 11.59 points on the trading day, high on the trading day $517.20, low on the trading day $497.02, closing price $499.11; Mastercard Incorporated (NYSE: MA) shed 2.72 points on the trading day, high on the trading day $236.19, low on the trading day $226.81, closing price $228.75; Flowserve Corporation (NYSE: FLS) shed 1.64 points on the trading day, high on the trading day $110.00, low on the trading day $106.21, for a closing price at $108.17.

    News on the NASDAQ today: advanced stocks 771; declined stocks 2,126; unchanged stocks 158; stocks hitting new highs 21; stocks hitting new lows 85. Trading range and end of day trading results for volatile NASDAQ stocks traded by active Day Traders today: FormFactor Incorporated (NasdaqGS: FORM) shed 0.57 points on the trading day, high on the trading day $19.04, low on the trading day $17.94, closing price $18.90; Nektar Therapeutics (NasdaqGS: NKTR) shed 1.80 points on the trading day, high on the trading day $5.71, low on the trading day $4.92, closing price $5.39; Intuitive Surgical, Incorporated (NasdaqGS: ISRG) shed 11.03 points on the trading day, high on the trading day $349.21, low on the trading day $331.89, closing price $336.07; Pantry Incorporated (NasdaqGS: PTRY) shed 5.64 points on the trading day, high on the trading day $20.05, low on the trading day $15.93, closing price $16.20; Focus Media Holding Limited (NasdaqGS: FMCN) shed 2.41 points on the trading day, high on the trading day $37.15, low on the trading day $33.01, closing price $34.64; Cephalon Incorporated (NasdaqGS: CEPH) shed 0.94 points on the trading day, high on the trading day $66.23, low on the trading day $63.63, closing price $64.22; First Solar, Incorporated (NasdaqGS: FSLR) shed 2.12 points on the trading day, high on the trading day $278.85, low on the trading day $269.05, closing price $269.87; Google Incorporated (NasdaqGS: GOOG) shed 3.62 points on the trading day, high on the trading day $457.54, low on the trading day $472.00, closing price $464.19; Apple Incorporated (NasdaqGS: AAPL) shed 1.40 points on the trading day, high on the trading day $153.89, low on the trading day $150.46, closing price $151.44; Baidu.com, Incorporated (NasdaqGS: BIDU) shed 7.14 points on the trading day, high on the trading day $298.45, low on the trading day $284.58, closing price $288.81.

    News on the American Stock Exchange (AMEX) today: advanced stocks 478; declined stocks 685; unchanged stocks 118; stocks hitting new highs 13; stocks hitting new lows 18.

    U.S. Mortgage Bankers Association (MBA) Refinancing Index rises 3.4% to 2724.7 from 2636; U.S. MBA Purchase Index rises 8.1% to 384.7 from 356; U.S. MBA Market Index rises 5.4% to 725.6 from 688.3.

    U.S. February Wholesale Inventories increased 1.1% compared to expectations of an increase by 0.5%.

    Department Of Energy: U.S. Crude Oil Stockpiles fell by 3.2 Million Barrels at 316.0 Million Barrels; U.S. Gasoline Stockpiles fell by 3.4 Million Barrels at 221.3 Million Barrels; U.S. Distillate Stockpiles fell by 3.7 Million Barrels at 106.0 Million Barrels; U.S. Refineries ran at 83.0% versus 82.4% a week ago; U.S. Gasoline Stockpiles fell by 3.4 Million Barrels in the week compared to expectations of a drop by 2.3 Million Barrels; U.S. Distillate Stockpiles fell by 3.7 Million Barrels in the week compared to expectations of a drop by 1.2 Million Barrels; U.S. Refineries ran at 83.0% ;compared to expectations of an increase by 0.7 points at 83.1%.

    Commodities Markets
    Energy Sector: Light Crude (NYM) gained $2.37 on the day to close at $110.87 a barrel ($US per bbl.); Heating Oil (NYM) gained $0.12 on the day to close at $3.23 a gallon ($US per gal.); Natural Gas (NYM) gained $0.36 on the day to close at $10.06 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) gained $0.02 on the day to close at $2.77 a gallon ($US per gal.).

    Metals Markets: Gold (CMX) gained $19.50 to close at $937.50 ($US per Troy oz.); Silver (CMX) gained $0.49 to close at $18.20 ($US per Troy oz.); Platinum (NYM) gained $15.00 to close at $2,044.60 ($US per Troy oz.) and Copper (CMX) gained $0.11 to close at $4.00 ($US per lb.).

    Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) shed 0.73 to close at 70.55; Pork Bellies (CME) shed 1.38 to close at 72.60; Live Cattle (CME) shed 1.83 to close at 87.75; Feeder Cattle (CME) shed 2.03 to close at 100.83.

    Other Commodities (cents per bu.): Corn (CBT) gained 16.50 to close the session at 620.00 and Soybeans (CBT) gained 61.50 to close the session at 1,316.00.

    Bonds were mixed across the board today: 2 year bond gained 6/32 at 99 30/32 with a Yield of 1.77, Yield Change 0.10; 5 year bond gained 18/32 to close at 99 16/32 with a Yield of 2.60, Yield Change 0.12; 10 year bond gained 22/32 to close at 100 5/32 with a Yield of 3.48, Yield Change 0.08; the 30 year bond gained 27/32 to close at 100 28/32 on the day with a Yield of 4.32, Yield Change 0.05.

    The e-mini Dow $5 ended the commodity session today at 12,540 with a loss of 70 point on the trading session. The total Dow Exchange Volume for the day came in at 124,085 which is comprised of Electronic, Open Auction and Cash Exchange. 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.

    Monitor scheduled economic data every market morning by viewing the Daily Market Report from Millennium-Traders, free access to visitors on our website.

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    Thanks for reading
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