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Market Commentary for May 4, 2007


During the trading session, the Bears attempted to take control briefly before the Bulls moved back in to prevent the takeover. Major indices were mostly higher across the board into the closing bell as we wrapped up the first trading day for the month of May. At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) moved higher by 23.24 points to end the session at 13,264.62; the NYSE (New York Stock Exchange) posted a gain today of 39.06 points to end at 9,793.00; the NASDAQ posted a gain of 6.69 points today for a close at 2,572.15; the S&P 500 moved higher by 3.23 points to end at 1,505.62 and the RUSSELL 2000 moved higher by 4.01 points to close at 832.88 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 1.31 to close at 257.89 and the FTSE RAFI 1000 closed higher by 13.50 at 6,310.50.

Economic data released for the day:

Employment Situation: A set of labor market indicators provide what is known as the Employment Situation. A measure in percentage of the labor force creates the unemployment rate measurement of the number of unemployed. The number of paid employees working part or full time in businesses across the nation as well as government agencies is the non-farm payroll. The number of hours worked is the average workweek in the non-farm sector. The basic hourly rate is the average hourly earning for major industries as indicated in non-farm payrolls. Employment Situation data released today: U.S. April Non-farm Payrolls rose by 88K compared to consensus of an increase by 110K; U.S. April Job Growth was slowest since November 2004; U.S. April Unemployment Rate came in at 4.5% compared to consensus of 4.5%; U.S. April Average Hourly Earnings rose by $0.04 to $17.25; U.S. April Manufacturing Payrolls fell by 19K; U.S. April Service-Producing Payrolls rose by 116K; U.S. April Overall Workweek fell by 0.1 Hour to 33.8 hours; U.S. March Payrolls was revised to an increase by 177K from an increase by 180K and U.S. March Unemployment was left unrevised at 4.4%.

The e-mini Dow ended the session higher by 41 points to close at 13318. The total Dow Exchange Volume for the day came in at 121,060 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.

Commodities Markets The trend was lower across the board today for the Energy Sector: Light crude moved lower by $1.26 today to close at $61.93 a barrel; Heating Oil moved lower by $0.01 again today to close at $1.83 a gallon; Natural Gas closed lower by $0.01 at $7.94 per million BTU and Unleaded Gas closed lower by $0.03 at $2.22 a gallon.

Metals Market ended the session higher across the board again today: Gold moved higher by $5.30 to close at $689.70 an ounce; Silver moved higher by $0.02 to close at $13.53 an ounce; Platinum moved sharply higher again today by $18.00 to close at $1,328.80 an ounce and Copper ended the day higher by $0.03 today to end at $3.76 per pound.

On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs moved higher today by 1.30 today to close at 74.83; Pork Bellies ended the day higher by 2.48 to close at 102.73; Live Cattle moved higher by 0.45 to end the day at 92.18 and Feeder Cattle ended the day lower by 0.38 to close at 109.28.

Other Commodities: Corn moved higher today with a gain of 1.50 points to end at 390.75 and Soybeans posted a loss today of 0.25 to close at 747.50.

Bonds were higher across the board today: 2 year bond closed higher by 1/32 at 99 21/32; 5 year bond closed higher by 5/32 at 99 24/32; 10 year bond closed higher by 8/32 at 99 27/32 and the 30 year bond closed higher by 15/32 at 99 3/32.

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 3,845,960; Open Interest for Futures moved higher by 83,043 points to close at 9,995,093; the Open Interest for Options moved higher by 146,534 points to close at 7,002,829 and the Open Interest for OTC closed with no change at 4,412 for a total Open Interest of 17,002,333 for a total gain on the day by 229,577.

On the NYSE today, advancers came in at 1,880; decliners totaled 1,302; unchanged came in at 138; new highs came in at 352 and new lows came in at 15. New York Stock Exchange movers for the day today: Acorn International Incorporated (ATV) ramped higher on the Big Board today for a gain of 19.49% to move higher by 4.19 points for a closing price at $25.69; WMS Industries Incorporated (WMS) moved nicely higher by 10.75% to tack on a gain of 4.16 points to end the trading day at $42.85; Cambrex Corporation (CBM) plummeted lower on the trading day to post a massive loss of 54.63% to shed more points than it close at of 14.05 points to close at $11.67 and Goldman Sachs Group Incorporated (GS) made a nice gain on the day of 5.45 points to end the trading day at $227.01.

On the NASDAQ today, advanced totaled 1,725, decliners totaled 1,294; unchanged came in at 164, new highs came in at 161 and new lows came in at 43, same as yesterday. Gainers and losers for the day on the NASDAQ: Reuters Group PLC (RTRSY) rallied higher on the trading day for a gain of 27.16% to tack on a nice 16.00 points for a closing price at $74.92; Career Education Corporation (CECO) made a nice run on the trading session to post a gain of 20.17% to tack on 5.90 points for an end of trading day price of $35.19; Crocs, Incorporated (CROX) ramped higher for a gain of 20.17% to move higher by 11.58 points to close the trading session at $68.99; Zoltek Companies Incorporated (ZOLT) picked up a nice gain on the day of 18.57% to climb higher by 5.30 points to end the trading session at $35.51; 21st Century Holding Company (TCHC) plummeted lower on the day by whopping 44.17% to shed 8.83 points for a closing price at $11.16; First Solar Incorporated (FSLR) rallied higher on the trading session to post a gain of 14.87% to move higher by 8.62 points for an end of day closing price at $66.57 and Sears Holding Corporation (SHLD) moved lower by 8.68 points to end the day at $179.63.

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