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Vytorin Not What It’s Hyped Up to Be

Discussion in 'Forex Daily News & Outlook' started by MTnews, Mar 31, 2008.

  1. MTnews

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    Daily Market Commentary for March 31, 2008 from Millennium-Traders.Com

    Treasury Secretary Henry Paulson's comments regarding reorganization regulations for the U.S. financial markets gave the markets a boost today. Full details of Secretary Paulson's comments, on Blueprint for Regulatory Reform can be found, in this commentary. Trading activity was rather sluggish early on in the trading session as the street looks to lay to rest one of the worst quarters seen by the markets since the third quarter of 2002. Merck and Schering-Plough took a hit today after results from studies by a panel of cardiologists showed Vytorin provided little improvements in patients suffering from heart disease. U.S. Department of Agriculture report that more farmers will be planting more soybeans over corn, due to rising cost of corn and increasing demand for ethanol. Surprising though, over past few weeks we've seen a surge in soybean prices, some at 50 point increments during a trading session followed by, plummeting of soybean prices over just recent few trading sessions.

    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 46.49 points on the day to end the session at 12,262.80

    NYSE (New York Stock Exchange) gain of 35.17 points to end the session at 8,797.29

    NASDAQ gain of 17.92 points for a close at 2,279.10

    S&P 500 gain of 7.48 points for a close at 1,322.70

    FTSE All-World ex-U.S. loss of 1.76 points to close at 237.55

    FTSE RAFI 1000 loss of 7.74 points to close at 5,358.36

    BEL 20 gain of 10.49 points on the day to end the session at 3,719.52

    CAC 40 gain of 11.15 points on the day to end the session at 4,707.15

    FTSE100 gain of 9.2 points on the day to end the session at 5,702.10

    NIKKEI 225 triple digit loss of 295 points on the day to end the session at 12,316.82

    On the NYSE today, advancers came in at 1,956, decliners totaled 1,220; unchanged came in at 89; new highs came in at 19 and new lows came in at 53. Momentum NYSE stocks traded by active Day Traders today: Merck & Company Incorporated (MRK) shed 6.56 points with a high on the day of $39.50, a low of $36.82 for a closing price at $37.95; Monsanto Corporation (MON) shed 2.80 points with a high on the day of $115.33, a low of $107.58 for a closing price at $111.50; Suncor Energy Incorporated (SU) shed 1.58 points with a high on the day of $98.20, a low of $94.07 for a closing price at $96.22; United States Oil (USO) shed 2.86 points with a high on the day of $85.50, a low of $80.62 for a closing price at $81.51; CF Industries Holdings, Incorporated (CF) shed 4.94 points with a high on the day of $109.84, a low of $100.01 for a closing price at $103.62; Gammon Gold, Incorporated (GRS) shed 1.21 points with a high on the day of $8.88, a low of $7.32 for a closing price at $7.51; Pall Corporation (PLL) shed 3.18 points with a high on the day of $37.95, a low of $34.01 for a closing price at $35.07; Fairpoint Communications, Incorporated (FRP) shed 1.24 points with a high on the day of $9.75, a low of $7.12 for a closing price at $9.02; Potash Corp. of Saskatchewan, Incorporated (POT) shed 5.36 points with a high on the day of $161.94, a low of $151.05 for a closing price at $155.21; CME Group, Incorporated (CME) shed 10.20 points with a high on the day of $473.00, a low of $458.00 for a closing price at $469.10; Mosaic Corporation (MOS) shed 2.80 points with a high on the day of $107.81, a low of $98.34 for a closing price at $102.60.

    On the NASDAQ today, advanced totaled 1,727; decliners totaled 1,212; unchanged came in at 131; new highs came in at 15 and new lows came in at 101. Momentum NASDAQ stocks traded by active Day Traders today: Apple Incorporated (AAPL) gained 0.49 points with a high on the day of $145.71, a low of $142.52 for a closing price at $143.50; Intuitive Surgical, Incorporated (ISRG) gained 1.64 points with a high on the day of $331.00, a low of $320.29 for a closing price at $324.35; Cal-Maine Foods Incorporated (CALM) shed 4.45 points with a high on the day of $40.40, a low of $32.77 for a closing price at $33.38; Research In Motion Limited (RIMM) shed 43.11 points with a high on the day of $117.00, a low of $110.38 for a closing price at $112.23; Vertex Pharmaceuticals Incorporated (VRTX) gained 5.23 points with a high on the day of $24.20, a low of $19.99 for a closing price at $23.89; Google Incorporated (GOOG) gained 2.39 points with a high on the day of $442.69, a low of $432.01 for a closing price at $440.47; Baidu.com, Incorporated (BIDU) shed 7.58 points with a high on the day of $249.00, a low of $237.06 for a closing price at $239.63; First Solar, Incorporated (FSLR) gained 2.46 points with a high on the day of $234.95 a low of $225.82 for a closing price at $231.14; Apollo Group Incorporated (APOL) gained 1.99 points with a high on the day of $43.45, a low of $37.92 for a closing price at $43.20; Tessera Technologies Incorporated (TSRA) shed 1.13 points with a high on the day of $23.00, a low of $18.18 for a closing price at $20.80.

    Commodities Markets
    The trend was mostly lower across the board today for the Energy Sector: Light crude moved lower today by $4.04 to close at $101.58 a barrel; Heating Oil moved lower today by $0.08 to close at $2.91 a gallon; Natural Gas moved higher today by $0.30 to close at $10.10 per million BTU and Unleaded Gas moved lower today by $0.09 to close at $2.62 a gallon.

    Metals Markets ended the session mostly lower across the board today: Gold moved sharply lower today by $15.00 to close at $921.50 a Troy ounce; Silver moved lower today by $0.63 to close at $17.31 per Troy ounce; Platinum moved sharply lower today by $20.80 to close at $2,028.00 per Troy ounce and Copper closed with no change at $3.83 per pound.

    On the Livestock and Meat Markets, the trend was lower across the board today: Lean Hogs ended the day lower by $2.43 to close at $67.95; Pork Bellies ended the day lower by $3.00 to close at $57.50; Live Cattle ended the day lower by $0.13 to close at $87.75 and Feeder Cattle ended the day lower by $1.05 to close at $101.23.

    Other Commodities: Corn ended the day higher by $6.75 at $567.25 and Soybeans ended the day sharply lower by $70.00 to end the session at $1,197.25.

    Bonds were higher across the board today: 2 year bond closed higher by 2/32 at 100 8/32; 5 year bond moved higher by 8/32 to close at 100 6/32 today; 10 year bond moved higher by 5/32 to close at 100 20/32 and the 30 year bond moved higher by 6/32 to close at 101 9/32 on the day.

    The e-mini Dow ended the session today at 12,275 with a gain of 39 points on the trading session. The total Dow Exchange Volume for the day came in at 141,774 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 2,525,889; Open Interest for Futures moved lower by 7,437 points to close at 9,340,525; the Open Interest for Options moved higher by 103,380 points to close at 8,209,898 and the Cleared Only moved higher by 173 points to close at 28,993 for a total Open Interest on the day of 17,579,416 for a total Change on the day with a gain of 96,116 points.

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