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Daily Market Commentary 1565


The Bears had full control of the trading session today, holding the major indices in the red zone into the close. Trading volume was moderate but, trading ranges were tight creating a lack luster session for day traders and investors. At the end of the trading day, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) moved lower today by 38.54 points to end the session at 12647.48; the NYSE (New York Stock Exchange) moved lower by 12.86 points to end at 9420.20; the NASDAQ moved lower by 9.84 points to close at 2515.10; the S&P 500 moved lower by 5.19 points to end at 1451.19 and the RUSSELL 2000 moved lower by 2.80 points to close at 826.64. The FTSE All-World Index ex-US (top Large/Mid Cap aggregate from over 2,700 stocks from the FTSE Global Equity Index Series (GEIS) which covers 90% of the worlds investable market capitalization) moved higher by 0.16 to close at 247.65 and the FTSE RAFI 1000 moved lower by 21.84 to end at 6100.89 for the day.

President of the Federal Reserve Bank of Dallas, Richard W. Fisher commented today: Fed getting increasingly transparent; manufacturing plays dwindling role in growth; globalization complicates monetary policy; all Central Bankers worry about inflation; housing helping mitigate inflation pressure; may be turning corner on inflation; will remain vigilant on inflation; U.S. must resist protectionist impulses; want to see Core PCE below 2%; U.S. still attractive investment destination; deficit sustainable with secure cap flows; still greater risk for higher inflation; sees inflation pressures moderating; still sees growth around 3% for 2007 and downplays concerns over latest CPI Number.

Economic data released for the day: N/A

On the commodities markets, the trend was higher across the board yet again today for the Energy sector: Light crude moved higher by $0.19 to close at $61.14 a barrel; Heating Oil closed higher today by $0.02, same as yesterday, to end at $1.75 a gallon; Natural Gas moved higher to end the day at $7.81 per million BTU and Unleaded Gas closed higher by $0.01 today to end the session at $1.76 a gallon.

Metals Market ended the session higher across the board today: Gold moved higher by $3.70 to close at $686.70 an ounce; Silver closed higher by $0.35 at $14.60 an ounce; Platinum moved higher today by $7.60 to close at $1,237.60 an ounce and Copper ended the day higher by $0.08 to close at $2.85 per pound.

On the Livestock and Meat Markets, the trend was mostly lower across the board today: Lean Hogs closed lower by 0.28 to close at 66.75 Pork Bellies ended the day lower by 0.43 to close at 104.58; Live Cattle closed lower by 0.05 to end the day at 96.18 and Feeder Cattle ended the day higher by 0.10 to close at 99.33.

Other Commodities: Corn moved lower today by 5.00 points to end at 442.50 and Soybeans moved higher today by 6.50 to close at 794.00.

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 5,490,521 Open Interest for Futures moved higher by 174,619 to close at 9,610,962 and the Open Interest for Options moved higher by 153,524 to close at 8,787,286 for a total Open Interest of 18,399,602 for a total gain on the day by 328,143.

Bonds were higher across the board today for a rebound: 2 year bond closed higher by 3/32 at 99 28/32; 5 year bond closed higher by 5/32 at 99 8/32; 10 year bond closed higher by 14/32 at 99 19/32 and the 30 year bond closed higher by 26/32 at 99 17/32.

The mini Dow ended the session with a loss today of 40 to close at 12644. The total Dow Exchange Volume for the day came in at 124,658 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.

New York Stock Exchange movers for the day: Public Storage Incorporated (PSA) fell by 3.57 points to end the session at $106.37; First Financial Corporation (FED) fell by 3.53 points to close at $59.30; Chicago Mercantile Exchange Holdings (CME) moved lower by 5.15 points for a closing price at $544.85; RTI International Metals (RTI) climbed higher by 5.92 points to end at $92.57 and Roper Industries Incorporated (ROP) gained 3.72 points to close the session at $55.14.

On the NASDAQ today, advancers came in at 1,314; decliners totaled 1,710; unchanged came in at 167; new highs came in at 159 and new lows came in at 27. Gainers and losers for the day on the NASDAQ: GFI Group Incorporated (GFIG) fell by 4.64 points to end at $62.06 for the day; Universal Electronics Incorporated (UEIC) moved nicely higher by 24.74% to tack on 5.35 points for the day to close at $27.89; Huron Consulting Group Incorporated (HURN) gained 3.63 points to end at $64.00; Verigy Limited (VRGY) gained 4.49 points to tack on 23.78% for the day to close at $23.37 and Ultra Clean Holdings Incorporated (UCTT) gained 15.80% for an increase for the day of $2.27 points to close the session at $16.64.

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