No registration required! (Why?)

Market Commentary for March 19, 2007


The markets were controlled by the Bulls today with the major indices holding in the green zone through out the session. With the FOMC meeting beginning tomorrow and interest rate announcement scheduled for Wednesday at 2:15 pm Eastern Time, we can anticipate the focus of attention to be on what the Fed ends up doing.

At the close, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) moved higher today by 115.76 points to end the session at 12226.17; the NYSE (New York Stock Exchange) moved nicely higher by 107.95 points to end at 9090.96; the NASDAQ moved higher by 21.75 points to close at 2394.41; the S&P 500 moved higher by 15.11 points to end at 1402.06 and the RUSSELL 2000 moved higher by 8.28 points to close at 787.05. 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 2.43 to close at 238.80 and the FTSE RAFI 1000 moved higher by 64.40 to close at 5890.44.

Chicago Fed Index for January regional auto output was lower by 3.5% versus December; Chicago Fed Midwest Manufacturing Index was lower by 1% in January versus a year ago and Chicago Fed Midwest Manufacturing Index was lower by 2.3% in January versus December.

Economic data released for the day:

Housing Market Index: Survey created by the National Association of Home Builders for a rating on the general economy and housing market conditions. U.S. NAHB March Housing Index came in at 36 versus February revision of 39.

On the commodities markets, the trend was mostly lower across the board again today for the Energy sector: Light crude moved lower by $0.52 today to close at $56.59 a barrel; Heating Oil had not change again today to close at $1.69 a gallon; Natural Gas moved lower by $0.07 today to end at $6.98 per million BTU and Unleaded Gas closed higher by $0.05 at $1.96 a gallon.

Metals Market ended the session higher across the board again today: Gold moved higher by $0.40 to close at $654.30 an ounce; Silver closed the day higher by $0.02 to end the session at $13.23 an ounce; Platinum moved nicely higher again today by $13.50 to close at $1,234.70 an ounce and Copper ended the day higher by $0.01 to close at $3.02 per pound.

On the Livestock and Meat Markets, the trend was higher across the board today: Lean Hogs closed higher by 0.05 at 74.63; Pork Bellies ended the day lower by 0.35 today to close at 103.20; Live Cattle moved higher by 0.58 to end the day at 94.85 and Feeder Cattle ended the day higher by 0.70 to close at 107.93.

Other Commodities: Corn moved lower today by 1.00 points to end at 398.50 and Soybeans moved nicely higher today by 6.00 to close at 759.50.

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 3,418,376 Open Interest for Futures moved higher by 61,983 to close at 9,340,908 and the Open Interest for Options moved higher by 44,980 to close at 7,841,353 for a total Open Interest of 17,183,353 for a total gain on the day by 106, 923.

Bonds were lower across the board today: 2 year bond closed lower by 2/32 at 100 7/32; 5 year bond closed lower by 4/32 at 100 18/32; 10 year bond closed lower by 6/32 at 100 14/32 and the 30 year bond closed lower by 6/32 at 100 16/32.

The mini Dow ended the session higher by 118 at 12329. The total Dow Exchange Volume for the day came in at 131,286 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.

On the NYSE today, advancers came in at 2,445; decliners totaled 791; unchanged came in at 137; new highs came in at 111 and new lows came in at 15. New York Stock Exchange movers for the day today: InfraSource Services Incorporated (IFS) made a nice gain today of 16.25% to move higher by 4.17 points with a closing price of $29.83; CBOT Holdings Incorporated (BOT) gained 5.09 points to close at $215.49 for the session; Rio Tinto plc (RTP) gained 5.09 points for a closing price of $215.49; TODCO (THE) rallied by 19.71% for a gain of 6.46 points to end the session at $39.24 and ABN AMRO Holding N.V. (ABN) gained 5.12 points to tack on 14.13% to end the day at $41.36.

On the NASDAQ today, advancers came in at 2,038; decliners totaled 1,017; unchanged came in at 137; new highs came in at 70 and new lows came in at 61. Gainers and losers for the day on the NASDAQ: ACADIA Pharmaceuticals Incorporated (ACAD) bolted higher by 103.44% for a move higher by 6.89 points to close at $13.58; U.S. Global Investors Incorporated (GROW) tacked on a gain of 5.52 points to close at $43.15; AtheroGenics Incorporated (AGIX) fell sharply by 4.75 points for a loss of 60.66% to close at $3.08 and NovAtel Incorporated (NGPS) gave up 11.26% for a loss on the day by 4.06 points to close at $32.01.

Thanks for reading
Millennium-Traders